The Blooming Mill will udergo a Substantial Transformation
The night on August 1, the blooming mill finally stopped. This year's biggest investment in Třinecké železárny – the modernization of the plant, which is called the heart of all rolling mills by the rolling mill employees – has begun. This rolling mill processes up to 600 thousand tons of steel of the heaviest profiles such as blooms and slabs, inputs to the reversing mill to be transformed into the billets or rails. The obsolete rolling mill needs a complete replacement. The investment amounts to CZK 700 million.
Wire Rod and Steel Bars with Higher Added Value Drove the Last Year’s Sales
Třinecké železárny (TŽ) sold goods and services in amount of CZK 32.217 billion in 2016. It is 4.7 billion less than in 2015. This is due to the fall in steel prices in the markets due to overproduction in Europe as well as in the third countries. Yesterday, the TŽ General Meeting concluded the fiscal year of 2016 with a positive result of CZK 1.44 billion after tax.
VÚHŽ Company has focused on the modernisation of the special profiles rolling mill
Recently, VÚHŽ as a subsidiary company of Třinecké železárny, has started to modernise the rolling mill of special profiles. Investments will amount to CZK 83 million and it is predicted to increase mill capacity by fifty percent. Simultaneously, the company is going to widen its product portfolio to the larger and more complex shape profiles to gain safety at work.
Wage increase of 6.6% in Třinecké železárny this year
The Collective Agreement guarantees employees of Třinecké železárny earnings growth for the current year. Appendix dealing with the wage growth was signed by the senior management of steelworks together with representatives of ZO OS KOVO (the unions) on Monday 30 January 2017.
The challenge facing Třinecké železárny over the next year is about to put huge investment into modernisation
Steel maker Třinecké železárny plans to invest more than three billion Czech crowns in modernisation and equipment renewal this year, with almost one third of the amount being earmarked for the environmental projects. It is the most significant financial expense for the last ten years. In Třinec it refers to super renewal year when major transformation will pass through the heart of mills – blooming mill. Minor changes are also awaiting for the steel and iron production plant, company builds new facilities to increase the added value and the production quality during the finalization processes.