Aluminium maker to lay off most of its staff, may close

Slovalco is Slovakia's only aluminium producer.

The Slovalco factory in Banská Bystrica Region.The Slovalco factory in Banská Bystrica Region. (Source: Ján Krošlák, Petit Press)

Aluminium manufacturer Slovalco is laying off hundreds of employees in response to increasing energy prices, emissions restrictions and decreasing prices for aluminium. The company is considering a complete shutdown of its plant, which is the only aluminium manufacturing facility in Slovakia.

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About 300 of the company's employees, out of 450, will lose their jobs – and even then Slovalco, which is based in the central-Slovak town of Žiar nad Hronom, says the final number of laid off employees remains uncertain, the TASR newswire reported. A further 2,500 jobs in the region that are tied to aluminium manufacturing are now at risk.

"This fate of our only Slovak aluminium maker cannot be labelled other than a disaster," said Economy Minister Richard Sulík (SaS), as quoted by TASR.

Existing funds could have helped

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