Thyssenkrupp Galmed, the Spanish subsidiary of German steelmaker Thyssenkrupp, plans to close its 450kt/yr Sagunto facility, citing the worsening conditions of the European automotive market and a reduction in demand for hot dip galvanized steel, according to a report by Steel Orbis.

All employees of the Sagunto plant will lose their jobs and the company says it plans to supply its local and foreign customers through its plants in Germany.

Sagunto is a municipality of Spain located in the province of Valencia and is 30km north of the city of Valencia. Sagunto’s Juderia de Sagunto (the Jewish quarter) is claimed to be the best preserved Jewish quarter in the Valencian community.

Source: Steel Orbis.