After a slow start that persisted during the first half of the year, Makstil experienced improved market conditions in the second half of 2014.
The improvement was mostly reflected in increased demand rather than price, especially in the North American market. These market conditions determined the strategy of further cost reduction and production optimization, while maintaining the usual service offered to customers.
The generation change in the management structure was implemented seamlessly and has made a positive impact in various fields.
The most significant event of the past year, finalized during the early months of 2015, was undoubtedly the investment in the implementation of a fumes collection system in the steel shop. With this and other smaller investments, Makstil will obtain the necessary type A Integrated Pollution Prevention and Control license according to EU legislation. The cost of the investment is about 11 MEUR, and, in addition, 2 MEUR of scrap yard / steel shop improvements. The investment has been financed with a new investment loan from a local bank and forms part of a newly-signed credit frame agreement.
The challenges for next year are to streamline the cost structure and capitalize on market opportunities.