Closure of SGL Carbon's Lavradio Site Amid Restructuring

SGL Carbon announced its decision to close the Lavradio production site in Portugal as part of restructuring efforts in its Carbon Fibers unit. The site, one of seven in the business unit, has been manufacturing acrylic fibers and precursors, employing approximately 250 people. This decision comes in response to declining demand and global overcapacity in the fiber products market, leading to significant losses.

Production at the Lavradio site will cease by June 2025, with a complete closure planned by the end of 2026. The closure is seen as a necessary step in the effort to reduce loss-making operations within the company’s European sites, facing competition and price declines due to higher manufacturing costs compared to Asia.

Dr. Stephan Bühler, part of the management board, noted the redundancy impacts on around 190 employees. CEO Andreas Klein emphasized the decision's difficulty, attributing it to persistent high losses at Lavradio. Detailed on future measures remains pending as the company continues with its restructuring process.