Japan Steel Works hurting amid nuclear slump

Share prices for Japan Steel Works, a major parts supplier in the nuclear industry, have fallen this week amid news of worker furloughs as orders decline, Bloomberg reports.

Per the proposal, about 500 workers, or 70 percent of the company’s workforce at the Muroran plant in northern Japan, will take off about two days a month between April and October, with a decision on extending the furlough period to be made later depending on the status of demand, a spokesman confirmed via phone for Bloomberg.

Japan Steel is a major player in the nuclear industry supplying parts to leading companies, including Areva.

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