MFC, the ferro-silicon producer and ferro-alloys supplier's parent company, has agreed to acquire a European bank, which will allow it to provide financing to Fesil clients.
Fesil will be controlled in Germany and will maintain small sales offices in Luxembourg and Madrid. Eleven staff have been cut in Luxembourg as a result.
Previously, functions including accounting and logistics had been replicated in all three locations
The company's office in India will close and its unit in South Africa will operate as an independent company, in partnership.
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