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Insteel Reports Fire at Gallatin, Tenn., Manufacturing Facility
01/27/2014 - Insteel Industries, Inc. announced that a fire occurred at its Gallatin, Tenn., prestressed concrete strand (PC strand) manufacturing facility on 21 January 2014.
There were no injuries reported and damage was limited to a portion of the facility. Insteel maintains insurance which is expected to cover most of the cost to repair the fire damage. The completion date for the repairs has not yet been determined.
Insteel plans to curtail operations at the Gallatin facility on an interim basis until the necessary repairs are completed and shift a portion of the production to its other PC strand manufacturing facility located in Sanderson, Fla., which was operating at a reduced utilization level. While the reduced operating levels at the Gallatin facility could adversely affect Insteel's financial results for the second and third quarters of fiscal 2014, the company does not currently anticipate the incident will have a material operational or financial impact.
Insteel is the nation's largest manufacturer of steel wire reinforcing products for concrete construction applications. Insteel manufactures and markets PC strand and welded wire reinforcement, including engineered structural mesh, concrete pipe reinforcement and standard welded wire reinforcement. Insteel's products are sold primarily to manufacturers of concrete products that are used in nonresidential construction. Headquartered in Mount Airy, N.C., Insteel operates nine manufacturing facilities located in the United States.
Insteel plans to curtail operations at the Gallatin facility on an interim basis until the necessary repairs are completed and shift a portion of the production to its other PC strand manufacturing facility located in Sanderson, Fla., which was operating at a reduced utilization level. While the reduced operating levels at the Gallatin facility could adversely affect Insteel's financial results for the second and third quarters of fiscal 2014, the company does not currently anticipate the incident will have a material operational or financial impact.
Insteel is the nation's largest manufacturer of steel wire reinforcing products for concrete construction applications. Insteel manufactures and markets PC strand and welded wire reinforcement, including engineered structural mesh, concrete pipe reinforcement and standard welded wire reinforcement. Insteel's products are sold primarily to manufacturers of concrete products that are used in nonresidential construction. Headquartered in Mount Airy, N.C., Insteel operates nine manufacturing facilities located in the United States.
