Former Alton Steel CEO says he foresaw mill's demise a decade ago
Linnemeyer began working at Alton Steel in 2003 and served as CEO and president from 2010 to 2014.
SEATTLE (Scrap Monster): Former Alton Steel Inc. CEO Charlie Linnemeyer was saddened, but not surprised when the company announced Monday that it was ceasing operations this week.
Linnemeyer began working at Alton Steel in 2003 and served as CEO and president from 2010 to 2014. He has kept in touch with employees and customers of the company.
“That mill needs millions, $100 million-plus to really get it to a place where they might be able to compete in those markets. Now they can’t and they lost customers,” he said in an interview Tuesday.
In its announcement Monday, Alton Steel said it faced “insurmountable challenges including aging infrastructure, intense market competition, and industry consolidation that make continued operation economically unsustainable.”
The closure will affect about 253 employees, along with contractors and vendors. Founded in 2003, Alton Steel has produced special bar quality steel products, including rounds, round-cornered squares and bar-in-coil, and supplies a range of carbon and alloy grades.
Courtesy: www.ksdk.com