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.
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.,
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