Scana Steel has gone into administration, resulting in dismissals for all 115 employees at the steel mill in Stavager, Norway. The financial situation for the company had been critical for some time. Scana Steel had 200 employees in 2010, and has since undertaken significant restructuring and job cuts. The company nevertheless had continuing negative results, and failed to find new owners.
The CEO of parent company Scana Industries expresses regret that they were unable to salvage the company, and expects that the bankruptcy will have negative consequences for local businesses in Jørpeland, where the steel mill created demand for various services.