Ferroglobe Reaches Agreement with the French Works Council
April 06 2022 - 8:00AM
Ferroglobe PLC (NASDAQ: GSM) (the “Company”), one of the world’s
largest producers of silicon metal, silicon-based alloys and
manganese-based alloys, announced today that it reached a majority
collective agreement with the French Works Council on March 30,
2022 relating to a process that was initiated in April 2021 when
Ferroglobe engaged the French and Spanish Works Councils to discuss
proposals for its asset optimization program designed to safeguard
its long-term future in Europe.
The formal consultation procedure concerning the restructuring
project in France initially targeted 355 jobs across the Company’s
Château-Feuillet, Les Clavaux and Chambéry sites. Subsequently the
scope of the project was amended in November 2021 to reflect the
continuation of operation at the Les Clavaux facility given new
developments. Collectively, this agreement results in 195 potential
job terminations and 35 employee transfers to other facilities.
The project is subject to final approval from the French labor
authority which is expected around the end of April 2022.
About Ferroglobe
Ferroglobe is one of the world’s leading suppliers of
silicon metal, silicon-based and manganese-based specialty alloys
and ferroalloys, serving a customer base across the globe in
dynamic and fast-growing end markets, such as solar, automotive,
consumer products, construction and energy. The Company is based
in London. For more information,
visit http://investor.ferroglobe.com.
Forward-Looking Statements
This release contains “forward-looking statements” within the
meaning of U.S. securities laws. Forward-looking statements are not
historical facts but are based on certain assumptions of management
and describe the Company’s future plans, strategies and
expectations. Forward-looking statements often use forward-looking
terminology, including words such as “anticipate”, “believe”,
“could”, “estimate”, “expect”, “forecast”, “guidance”, “intends”,
“likely”, “may”, “plan”, “potential”, “predicts”, “seek”, “target”,
“will” and words of similar meaning or the negative thereof.
Forward-looking statements contained in this press release are
based on information currently available to the Company and
assumptions that management believe to be reasonable, but are
inherently uncertain. As a result, Ferroglobe’s actual results,
performance or achievements may differ materially from those
expressed or implied by these forward-looking statements, which are
not guarantees of future performance and involve known and unknown
risks, uncertainties and other factors that are, in some cases,
beyond the Company’s control.
Forward-looking financial information and other metrics
presented herein represent the Company’s goals and are not intended
as guidance or projections for the periods referenced herein or any
future periods.
All information in this press release is as of the date of its
release. Ferroglobe does not undertake any obligation to update
publicly any of the forward-looking statements contained herein to
reflect new information, events or circumstances arising after the
date of this press release. You should not place undue reliance on
any forward-looking statements, which are made only as of the date
of this press release.
INVESTOR CONTACT:
Gaurav MehtaExecutive Vice President – Investor
Relations Email: investor.relations@ferroglobe.com
MEDIA CONTACT:
Cristina Feliu RoigExecutive Director – Communications &
Public AffairsEmail: corporate.comms@ferroglobe.com
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