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The company filing submitted to the Johannesburg Stock Exchange, said the current decline in steel demand and steel prices fell market environment, the company is faced with many difficulties, such as the delay in payment by debtors, cash flow shortages, difficulties in obtaining financing and the continued inability to pay on time The main creditor, is no longer viable to continue production. Now stop the supply of raw materials to the blast furnace, and wait until all the spent iron, continuous casting and rolling equipment will shut down two mills currently still continue, until all rolled into salable steel billet. The plant mainly produces profiles, plate volume.

The company said all the equipment shut down serious care and maintenance, once sufficient funds to improve the environment and the steel trade, to ensure the continued viable financial future, the company intends to resume production.

In April, the company assigned to business rescuers, to August 31 will be published in a plan to revive the business, on July 21 announced plans to lay off 1,000 people.