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Esmark delays decision on Yorkville

Nov 25, 2013 | 04:04 PM |

Tags  steel, Esmark, James Bouchard, TCC Steel, Ohio Coatings, Worker Adjustment and Retraining Notification Act, WARN, Ohio Cold Rolling Catherine Ngai


NEW YORK — Esmark Inc. has delayed a decision concerning the restart its Yorkville, Ohio, facility due to poor economic conditions, according to its top executive.

Ohio Cold Rolling Co., which was originally part of defunct steelmaker RG Steel LLC, had been under discussion for a possible sale or joint venture in the summer. However, Esmark founder, chairman and chief executive officer James P. Bouchard told AMM Nov. 25 that the future of the Yorkville facility remains unclear.

"No decision has been made yet," he said. "Ohio Coatings (Co.) is doing great, but (Ohio Cold Rolling) is just idled." Ohio Coatings is a 50-50 tinplate joint venture with Seoul, South Korea-based TCC Steel Co.

The Sewickley, Pa.-based company had originally wanted to make a decision on Yorkville by the end of September so it could meet the December delivery timeframe for tin season. A new timeline was set for discussion at a Nov. 26 board meeting, Bouchard said.

Bouchard reaffirmed that the company is moving forward on downsizing of its facilities in order to cut down on capacity and right-size the organization (amm.com, Nov. 1).

According to a Worker Adjustment and Retraining Notification (WARN) Act notice issued Nov. 1, the company will begin its first layoffs at its 300 East Joe Orr Road facility in Chicago Heights, Ill., between Dec. 31 and Jan. 14.

Bouchard noted that 29 workers will be affected.




Latest Pricing Trends Year Over Year

Poll

After witnessing the pace of steel plant idlings and worker layoffs during the first half of the year, what is your view of the second half of 2015? (choose one)

No matter what else happens, layoffs and shutdowns, etc., have nearly or essentially stopped for the year.
The environment will change little and the pace of layoffs will continue at a similar rate as the first half of 2015.
The environment will change little yet the pace of layoffs will begin to slow slightly to moderately.
The environment will change little yet the pace of layoffs could exceed the rate seen thus far.
The environment will improve slightly to moderately yet hiring and plant restarts will not resume this year.
The environment will improve slightly to moderately, with hiring and plant restarts commencing.
The environment will improve dramatically yet hiring and plant restarts will still be negligible in comparison.
The environment will improve dramatically yet hiring and plant restarts will only be slight to moderate.
The environment will improve dramatically, with hiring and plant restarts occurring nearly in tandem.


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