Austria: RHI Faces Downsizing

BusinessEconomy ♦ Published: March 9, 2013; 11:25 ♦ (Vindobona)

RHI, the Austrian manufacturing company of fireproof equipment for steel and cement factories, needs to economize and is considering closing down in Europe.

Austria: RHI Faces Downsizing / Picture: © RHI AG

RHI has been suffering from lower demands in the steel and construction industry which lead to profit losses in the last quarter of 2012. Profits from operations decreased by more than one fifth and therefore only amounted to € 33.3m. Profits for the full year increased more than four percent totaling € 1.8bn. The operative profits rose by 10.6 % and came to € 167.6bn but because…