INT'L FERRO-ALLOYS CONF: Fesil reorganises; parent MFC gears up for bank acquisition

Fesil is combining the operations of its businesses in Germany and Luxembourg as part of a reorganisation aimed at improving efficiency, MFC Industrial president and ceo Gerardo Cortina told Metal Bulletin.

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. "In today's market you have to be efficient and you have to...

Published

Janie Davies

November 09, 2015

14:37 GMT

Prague