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Gerdau to Idle Kentucky Bar Mill
08/17/2016 - Gerdau is planning to idle its Calvert City, Ky., USA, bar mill by the end of November, blaming the world’s excess steelmaking capacity, according to reports.
“The industry continues to suffer significant losses due to a global overcapacity of steel, which has led to depressed prices and intense competition between producers. The Calvert City mill has been a particular challenge for cost-competitiveness, because it does not have a meltshop. It has made it very challenging to compete with companies expanding into the facility’s product range,” the company said in a statement, according WPSD-TV, an NBC affiliate station in Paducah, Ky.
“The company made several attempts over the past few years to make the facility successful. Unfortunately, these efforts have not led to increased cost-competitiveness,” the statement said.
The mill rolls angles, channels and flats. It has an annual production capacity of 280,000 metric tons, according to AIST data.
Employees were notified of the decision this morning, according to the Marshall County Tribune-Courier.
“Elected officials and economic development representatives are communicating with the company and with workforce development professionals to ensure that every resource is made available to employees,” Marshall County Judge/Executive Kevin Neal told the newspaper in a statement.
“The company made several attempts over the past few years to make the facility successful. Unfortunately, these efforts have not led to increased cost-competitiveness,” the statement said.
The mill rolls angles, channels and flats. It has an annual production capacity of 280,000 metric tons, according to AIST data.
Employees were notified of the decision this morning, according to the Marshall County Tribune-Courier.
“Elected officials and economic development representatives are communicating with the company and with workforce development professionals to ensure that every resource is made available to employees,” Marshall County Judge/Executive Kevin Neal told the newspaper in a statement.
