Steel Mills
Worthington Industries to Close Essex Facility
Written by Sandy Williams
December 12, 2013
Worthington Industries plans to close their Essex facility in Baltimore County, located near the former Sparrows Point steel site, by the end of its fiscal year, May 31, 2014. The closing will result in the layoff of 54 employees.
The company filed the following SEC report:
On December 10, 2013, the Steel Processing Segment (“Worthington Steel”) of Worthington Industries, Inc. (the “Company”) announced to its employees that its Baltimore steel facility will be closing by the end of its fiscal year, May 31, 2014. With the consolidation of the steel industry, many of the mills that previously supplied the Baltimore facility have closed, negatively impacting the supply chain there. The Company has concluded that it can more efficiently service its customers in the Mid-Atlantic Region from other Worthington facilities and processing partners, and believes it will retain most of the business.
Production at Baltimore will wind down over the coming months. Employees there will have the opportunity to apply for job openings at other Worthington facilities. For employees who will not continue with the Company, severance and outplacement services will be provided.
The Company does not expect the net effect from the wind down and closure of the Baltimore facility to have a material impact on its financial position or results of operation.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Hot-rolled coil market remains slow, market participants say
Hot rolled spot market participants reported another week of moderate demand and ample supply, with no strong signs that conditions will change next week.
CRU: Blackout knocks out ArcelorMittal mill ‘for months’
Truchas works in Lazaro Cadenas, Michoacan, western Mexico. Repairs may take up to six months.
Nippon Steel posts quarterly loss on cost to buy U.S. Steel
Nippon Steel earnings take hit from buy of U.S. Steel.
Atlas completes Evraz NA deal, renames firm, and hires former USS exec as CEO
Atlas Holdings has completed its acquisition of Evraz North America (Evraz NA) and its subsidiaries.
ArcelorMittal: As tariffs slow global growth, Calvert could be a bright spot
ArcelorMittal expects less demand growth across most of the markets it operates in, including the US, because of President Donald Trump’s tariffs. But the Luxembourg-based steelmaker also thinks it stands to benefit from an increasingly regionalized world thanks to investments like the new EAF at its mill in Calvert, Ala.