NEW YORK Specialty steel recycler Keywell LLC is closing one of its two processing facilities in Frewsburg, N.Y., according to a Worker Adjustment and Retraining Notification (WARN) Act notice.
The notice sets an Oct. 24 closing date for Keywells plant at Falconer St., Frewsburg. Terminations will begin Sept. 6, according to the notice, which said that Keywells other Frewsburg facility on Lyndon Boulevard would also be affected by the closure.
The Chicago-based company, which operates aerospace metals and specialty steel recycling facilities in six states, announced to suppliers in July that it had suspended payments for scrap deliveries and engaged an investment bank to pursue potential financing as weakness in economic demand had forced temporary plant closures in Atlanta, Chicago and Detroit (amm.com, July 3).
A month later, the company announced the temporary closure of its Carson, Calif., operation (amm.com, Aug. 6), which was followed soon after by the announcement of a memorandum of understanding with an unidentified outside investor to purchase a "substantial portion" of the business (amm.com, Aug. 14).
Keywell president and chief executive officer J. Mark Lozier could not be reached for comment.