CHICAGO (Reuters) – U.S. Metal mentioned on Friday it is going to idle a plant in Indiana by mid-November as a part of the consolidation of its until mill operations in america, a transfer which might lead to lay-offs for almost 150 workers.
The information comes days after the Pittsburgh-based firm revealed its plans to let go of as much as 200 employees at its Nice Lakes facility in Michigan.
The steelmaker blamed excessive ranges of low-priced imports for its determination to consolidate work at East Chicago Tin facility into those at Gary Works and the Midwest Plant in Northwest Indiana.
The East Chicago facility presently employs 297 employees. A U.S. Metal spokeswoman mentioned the corporate expects to supply half of the staff positions on the two Northwest Indiana crops.
“Choices round worker impacts haven’t been finalized,” Meghan Cox, the corporate’s spokeswoman, informed Reuters. “Our objective is to put as many East Chicago Tin workers as doable at different close by U. S. Metal services.”
U.S. Metal’s shares closed down 5.three% at $11.17 on Friday. Its inventory value has plunged 76% since March 1, 2018, when President Donald Trump introduced his determination to impose 25% tariffs on international metal imports to assist revive U.S. steelmakers.
Reporting by Rajesh Kumar Singh; Enhancing by Sandra Maler