U.S. Steel to Close Some Alabama Steel Operations, Cut 1,100 Jobs
August 17 2015 - 12:00PM
Dow Jones News
U.S. Steel Corp. said Monday that it plans to permanently close
steelmaking and finishing operations at its Fairfield, Ala. plant,
a move that will impact 1,100 jobs.
Pittsburgh-based U.S. Steel said it plans to close its Fairfield
Works blast furnace and finishing operations at the plant on or
after Nov. 17.
The company will continue to operate the slab and rounds
casters, #5 coating line and Double G hot-dip galvanizing joint
venture in Jackson, Miss.
U.S. Steel said the move will improve the efficiency of its
flat-rolled segment.
U.S. Steel has been hurt recently by high amounts of imports,
low oil prices and excess inventories. A sharp decline in oil
prices has led to a pullback by energy producers and lower demand
for steel pipe for drilling.
In January, the company said it would temporarily curtail
operations at two plants in Alabama, including Fairfield Work, and
one in Texas as the collapse of oil prices continued to punish key
segments of American industry.
In late July, U.S. Steel said it expected market conditions to
improve in the second half of the year as supply chain inventories
rebalance, primarily in flat-rolled markets.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
August 17, 2015 11:45 ET (15:45 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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