However, the figures are far below those posted in 2008, the best year for the Romanian steel industry, when the overall turnover of the same companies exceeded EUR4 billion.
Amid last year’s rising orders and prices for the main products, steel plants cut their losses almost three times, to some EUR184 million, but also resorted to some of the harshest restructuring measures – around 3,200 industry employees lost their jobs (12% of the total number).
In 2009, steel companies reported record-high losses of EUR528 million, as their total turnover plunged by 54.6% amid the global recession, and they laid off 5,300 employees.
The sector is strongly influenced by external economic conditions since the largest part of production goes abroad, mainly to European countries.
(English version by Catalina Apostoiu; Editing by Loredana Fratila-Cristescu)