Greece
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Halyvourgiki

Greek Steel Giant Xalyvourgiki Shuts Down After 83 Years

Halyvourgiki, Greece's largest steel manufacturer, shut down on Monday when the electricity supply to the company was switched off for nonpayment. The steel giant has been compiling enormous debts for years. Grid operator ADMIE carried out the Public Power Corporation’s order...

Greece's Heavy Industries Not Yet Recovered

Despite Greek Prime Minister Antonis Samaras' optimism that the country is nearing the exit of the recession and the Greek economy is finally recovering, the facts show a totally different reality. Greece’s economy is still at stake, something that...

Greek Steelworks Suspends 95% of Employees

Despite trying to find ways to keep “Halyvourgiki” open, the plant’s operator had announced earlier on Thursday that he is forced to cease the majority of operations at the Greek steelworks, suspending around 95% of its employees. The owner of...