Thailand's Bangkok Iron and Steel Works Co., Ltd. (BISW) decided to end its 59-year operation on December 28, 2023, as the company has suffered accumulated losses. The employees will be laid off and the compensation will be paid according to law.
Due to the economic situation throughout the past several years, BISW has been facing the problem of accumulated losses. The financial report showed that the company had losses every year.
BISW, located in the Phra Pradaeng district, operates a steel billet production business and sells steel bars for reinforced concrete, with a production capacity of 350,000 tons per year.
Souce: YIEH
|
