Titanium Metals Corp. (Timet) will lay off nearly 80 workers at
its main mill products plant in response to slow business
conditions, according to the United Steelworkers union
The layoffs, slated for this coming week, would be the first at
Timets Toronto, Ohio, facility in at least two years,
according to an official of USW District 1, which represents
about 460 employees at the facility. He said the cause of the
layoffs appears to be just that orders are slow.
A spokesman for Timets parent company, Portland,
Ore.-based Precision Castparts Corp., declined to comment on
the pending layoffs. He said only that the company has
made no announcement about a workforce reduction at
Toronto. Precision Castparts acquired Timet for $16.50 per
share in a cash deal valued at about $2.9 billion last year (
amm.com, Nov. 9
The Toronto facility forges titanium ingots into billets, bars
and slabs, the latter of which are hot-rolled into sheet and
plate or cold-rolled for production of strip and welded tube.
Dallas-based Timet has said that Torontos Sendzimir cold
mill is the only dedicated titanium strip mill in the world.
The USW official said the layoffs would be implemented on the
basis of seniority and added that while local union
representatives presented Timet with alternatives to layoffs,
including employee buyouts, local management wasnt
interested. The official was unable to say whether the
reduction will affect any particular section of the Toronto
Timets current labor agreement with USW locals 5644 and
5444-01 dont expire until 2016, the USW official said.