Acme Metals Inc. announced plans to shut down its steelmaking operations in Riverdale, Ill. The announcement came Oct. 16th.
The company tried to find a buyer for about two years and filed for bankruptcy. The company said it couldn't complete a sale and that it will end primary steelmaking this week.
It said it will continue a finishing operation for steel coils until its inventory is depleted. Acme produces flat rolled steel used in picture tubes, cutlery and many other products.
One part of the company, a producer of steel and plastic strapping, is profitable and will continue, Acme said.
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