ArcelorMittal Announces Closure of Georgetown, S.C. Wire Rod Facility
05/21/2015 - According to a report by The Sun News, more than 220 skilled laborers and professionals at ArcelorMittal in Georgetown, S.C., USA, will lose their jobs later this year.
“Challenging market conditions facing the USA business” are to blame for the closure, according to the company. The closure, which will impact 226 employees, is expected to be complete between July and August, pending customer orders.
“ArcelorMittal Georgetown, the company’s primary producer of wire rod in the United States, has been severely impacted by waves of unfairly traded steel imports from China and other countries,” according to a press release from the company. “Even in the most recent quarter, wire rod imports rose to account for 36 percent of the US market.”
The rise of imports, increasing competition within key domestic markets, and high legacy costs has forced the company to take a deeper look at all operations throughout the nation “in an effort to eliminate inefficiencies while investing in facilities that can compete effectively in all market conditions.”
No other ArcelorMittal facilities are affected at this time.
Source: The Sun News
“ArcelorMittal Georgetown, the company’s primary producer of wire rod in the United States, has been severely impacted by waves of unfairly traded steel imports from China and other countries,” according to a press release from the company. “Even in the most recent quarter, wire rod imports rose to account for 36 percent of the US market.”
The rise of imports, increasing competition within key domestic markets, and high legacy costs has forced the company to take a deeper look at all operations throughout the nation “in an effort to eliminate inefficiencies while investing in facilities that can compete effectively in all market conditions.”
No other ArcelorMittal facilities are affected at this time.
Source: The Sun News
