EMCC European Monitoring Centre on Change

Cylinders Holding

Company/Organisation:
Cylinders Holding

Geographic Location

Country: Czechia
Region: Moravskoslezsky; Moravskoslezsko
Location of affected unit(s): Ostrava

Company

Sector: Manufacturing
Manufacture of basic metals and fabricated metal products, except machinery and equipment
24.20 - Manufacture of tubes, pipes, hollow profiles and related fittings, of steel
Number Employed: 500
Group: Vítkovice Holding

Employment Effects

Announcement Date: 07-04-2020
Type of Restructuring: Business expansion
Foreseen End Date: 30-04-2020
Planned Job Creation: 100

Additional Information

The Czech engineering company Cylinders Holding announced that it will massively increase its production of medical gas cylinders and will hire at least 100 new employees at its Ostrava site. The enormous growth in demand for medical cylinders was noticeable since February 2020, when orders from Italy and Spain spiked due to the outbreak of COVID-19.

Vítkovice group is the world's biggest manufacturer of seamless steel high-pressure cylinders. According to the latest reports, the company's sales amounted CZK 2.7 billion (€100.5 million as at 15 April 2019) in 2018 and net profit in the same year was CZK 123 million (€4.5 million).

Currently, the Ostrava plant has 500 workers. The company operates also in Poland and Belarus.

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