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Acerinox announces the cessation of activity of Bahru Stainless and a change in the operating model of Acerinox Europa

The Acerinox Group, a world leading company in the manufacturing of stainless steel and high-performance alloys, informs it has adopted the following strategic decisions:

1) Cessation of the activity in the Bahru Stainless factory (Malaysia)

Asian customers have been informed that production activity has ceased at the Bahru Stainless plant (Johor Bahru, Malasia). From now on, customers will be supplied from other Group factories.

2) Change in the operating model of the Acerinox Europa factory (Spain)

Given the market conditions and financial performance of recent years, and the need to implement a new organizational and production model in the factory of Acerinox Europa situated in Los Barrios (Cádiz, Spain), the plant will operate in three shifts, instead of the usual five, which will be communicated as soon as possible to the legal representation of the workers for the appropriate purposes.

(i) Provide continuity to the collective agreement negotiation process from the three-shift organization model.

(ii) Assess the impact on the current volume of employment of the workforce that may occur as consequence of the implementation of a three-shift organizational model

This information has been comunicated to the Comisión Nacional del Mercado de Valores (CNMV).