LIBERTY Steel to Idle Illinois Wire Mill Facility
Steel News | 2024-12-05 11:53:56
The company spokesperson said that it hopes to restart operations at the wire mill in early February as the market shows improvement.
By Paul Ploumis
SEATTLE (Scrap Monster): Liberty Steel, one of the region's biggest manufacturing employers, has declared that its Bartonville, Illinois wire mill will be idled for at least two months beginning this Friday, according to various area online media reports. The British corporation cited current market problems, notably an influx of low-cost imports, as the basis for its decision.
ALSO READ:
LIBERTY Steel Signed MoU to Host New Green Iron Production Plant
LIBERTY Steel Forged Ahead with Whyalla Steel Workd Decarbonisation
The Peoria area wire mill will be temporarily idled beginning December 6, 2024. As a result, around 500 wire mill workers will be furloughed at the facility. This includes approximately 260 personnel in the melt shop and an additional 280 in the wire drawing and finishing operations. The company's representative stated that it hopes to restore operations at the wire mill in early February when the market improves.
The Bartonville operations have had issues in the past. Earlier in 2002, the plant formerly known as Keystone Steel & Wire received a $10 million state loan.
In addition, the business idled its wire rod manufacturing factory in Georgetown, South Carolina, in April of this year. According to media sources, the factory is now down to almost six employees, and the corporation is selling off its equipment. The company is also being investigated for illegal activity in the United Kingdom.
