Ferroglobe Reaches Settlement with the French Works Council

Fenika Bench

LONDON, April 06, 2022 (GLOBE NEWSWIRE) — Ferroglobe PLC (NASDAQ: GSM) (the “Firm”), one of many world’s largest producers of silicon steel, silicon-based alloys and manganese-based alloys, introduced right now that it reached a majority collective settlement with the French Works Council on March 30, 2022 regarding a course of that was initiated in April 2021 when Ferroglobe engaged the French and Spanish Works Councils to debate proposals for its asset optimization program designed to safeguard its long-term future in Europe.

The formal session process in regards to the restructuring venture in France initially focused 355 jobs throughout the Firm’s Château-Feuillet, Les Clavaux and Chambéry websites. Subsequently the scope of the venture was amended in November 2021 to replicate the continuation of operation on the Les Clavaux facility given new developments. Collectively, this settlement leads to 195 potential job terminations and 35 worker transfers to different services.

The venture is topic to last approval from the French labor authority which is predicted across the finish of April 2022.

About Ferroglobe

Ferroglobe is without doubt one of the world’s main suppliers of silicon steel, silicon-based and manganese-based specialty alloys and ferroalloys, serving a buyer base throughout the globe in dynamic and fast-growing finish markets, reminiscent of photo voltaic, automotive, shopper merchandise, development and power. The Firm is predicated in London. For extra info, go to http://investor.ferroglobe.com.

Ahead-Trying Statements

This launch incorporates “forward-looking statements” inside the which means of U.S. securities legal guidelines. Ahead-looking statements should not historic details however are based mostly on sure assumptions of administration and describe the Firm’s future plans, methods and expectations. Ahead-looking statements usually use forward-looking terminology, together with phrases reminiscent of “anticipate”, “imagine”, “might”, “estimate”, “count on”, “forecast”, “steering”, “intends”, “possible”, “could”, “plan”, “potential”, “predicts”, “search”, “goal”, “will” and phrases of comparable which means or the unfavourable thereof.

Ahead-looking statements contained on this press launch are based mostly on info at present out there to the Firm and assumptions that administration imagine to be affordable, however are inherently unsure. Consequently, Ferroglobe’s precise outcomes, efficiency or achievements could differ materially from these expressed or implied by these forward-looking statements, which aren’t ensures of future efficiency and contain recognized and unknown dangers, uncertainties and different components which are, in some circumstances, past the Firm’s management.

Ahead-looking monetary info and different metrics offered herein signify the Firm’s targets and should not meant as steering or projections for the durations referenced herein or any future durations.

All info on this press launch is as of the date of its launch. Ferroglobe doesn’t undertake any obligation to replace publicly any of the forward-looking statements contained herein to replicate new info, occasions or circumstances arising after the date of this press launch. You shouldn’t place undue reliance on any forward-looking statements, that are made solely as of the date of this press launch.

INVESTOR CONTACT:

Gaurav Mehta
Govt Vice President – Investor Relations 
E-mail: [email protected]

MEDIA CONTACT:

Cristina Feliu Roig
Govt Director – Communications & Public Affairs
E-mail: [email protected]

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