April 18: Capacity at the canmaking steel division of Corus will be cut with mill closures in “response to a difficult market situation”, it said today.
Corus Packaging Plus (CPP) is also planning to raise its tinplate prices by 30 percent from the beginning of 2009.
The moves to cut capacity by 300,000 tonnes, which include the closure of a mill in Norway and a capacity reduction in the UK, are part of a reconfiguration of the company’s operations in Europe, where there has been a surplus of capacity across the region. The cuts represent a fifth of its European capacity of 1.4 million tonnes.
