Follansbee, W.Va.-based Follansbee Steel—owned by
Steubenville, Ohio-based Louis Berkman Co.—and Follansbee
Steel's Sheet Metal Specialty Division recently closed because of
"sustained unfavorable business conditions." The closure affected
36 workers. Both companies will work closely with its customers to
minimize the closure's effects.
Mark Robinson, Follansbee Steel's executive vice president and
general manager, says the shutdown process will be gradual, giving
the company time to test the investor market. He says Louis Berkman
will try to make Follansbee Steel attractive to potential buyers,
but it must act quickly.
Robinson also says the company is filling existing orders but
not taking new orders for materials it...
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