Industrial output in Latvia is getting expensive due to the increase of taxes and duties. As the result Severstal Distribution decreased output.
The company employs 260 people, with a third part working in the manufacture. Salary expenses amount to 1720 euro on average for 1 worker, with 4 thousand euro more per month spent on the working place.
At the end of 2016 the company will stop using a part of its pipe-manufacturing machinery.
In 2015 Severstal Distribution produced 166 thousand tons of metal, with 152 thousand tons of pipes, sheet and strips produced in January-September 2016. Its sales in 2015 reached 537 thousand tons, with earnings at $286 million. (Ukrainian metal)