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Friday, January 30, 2009.
From Creamer Media in Johannesburg, I'm Christy van der Merwe.
Making headlines today:
Vehicle manufacturer Volkswagen South Africa spokesperson Bill Stephens says it'll release up to 400 employees in a process of voluntary separation.
The Eastern Cape-based manufacturer will also close all its production areas in the last week of February, as well as during the weeks before and after the Easter weekend, in April.
Stephens says the continuing worldwide financial crisis is having a "dramatic impact on the demand for vehicles, with practically all global markets showing a substantial reduction in demand".
Africa's largest steel producer, ArcelorMittal South Africa, would roll-over its January prices into February. This is after having reduced prices consistently between October and January in line with movements in international steel prices and the South African currency.
Corporate communications manager Sven Lunsche said that prices had dropped by between 35 and 40 per cent on average over the last four months.
The company confirmed that flat and long prices for orders confirmed for delivery from February 1 would remain unchanged from January 2009, with the exception of two flat-steel items, the price of which would fall by 500-rand a ton.
Also making headlines:
President Kgalema Motlanthe tells Parliament to reconsider the Competition Bill.
The Airports Company South Africa gets a 1,5-billion-rand loan by the Development Bank for Southern Africa for its infrastructure development programme.
The National Union of Metalworkers of South Africa will host a conference on the industry's job losses.
And, there's a bumpy ride ahead for the global aviation industry.
That's a round up of news making headlines today. For more on these and other stories please visit engineeringnews.co.za.