Warren Steel's Temporary Idling Becomes Permanent
01/14/2016 - After announcing a temporary idling in November, Ohio’s Warren Steel Holdings LLC has decided to shut down permanently. The decision affects 162 employees.
In a statement to AIST Steel News, the company said “unforeseen business conditions” are to blame for the action.
“The rapid deterioration of business conditions as we entered the first quarter, coupled with the loss of significant customer demand and the lack of financing are among the unforeseen business circumstances that led to the decision to close the plant,” the company said.
The impending loss of electricity apparently was another factor. In a Worker Adjustment and Retraining Notification Act letter to the Ohio Department of Job and Family Services, the company said it had received a disconnection notice from its electricity supplier.
WFMJ-TV in Youngstown, Ohio, USA, reported that the utility reached out to the steelmaker to work with it on the delinquent electricity bills, but company officials have not responded.
Warren Steel made semifinished products, and most of its output was either sent to the affiliated Kentucky Electrical Steel LLC for rolling or to other energy-related steelmakers, reported American Metal Market, which first reported the closure.
“The rapid deterioration of business conditions as we entered the first quarter, coupled with the loss of significant customer demand and the lack of financing are among the unforeseen business circumstances that led to the decision to close the plant,” the company said.
The impending loss of electricity apparently was another factor. In a Worker Adjustment and Retraining Notification Act letter to the Ohio Department of Job and Family Services, the company said it had received a disconnection notice from its electricity supplier.
WFMJ-TV in Youngstown, Ohio, USA, reported that the utility reached out to the steelmaker to work with it on the delinquent electricity bills, but company officials have not responded.
Warren Steel made semifinished products, and most of its output was either sent to the affiliated Kentucky Electrical Steel LLC for rolling or to other energy-related steelmakers, reported American Metal Market, which first reported the closure.
