Photo courtesy of Alton Steel Inc.
Recycled-content electric arc furnace (EAF) steelmaker Alton Steel Inc., Alton, Illinois, reportedly has announced it will cease operations before the end of this month.
Several media outlets in western Illinois and St. Louis have published portions of a statement released by the steel producer, which named a new CEO in 2024.
A Leadership in Energy and Environmental Design (LEED) statement posted to the Alton Steel website says it uses 80 percent postconsumer (obsolete) scrap in its melt shop, along with 11 percent internally generated scrap and 8 percent prompt or prime scrap.
The company, founded in 2003n at the site of the former Laclede Steel, also says its melt shop can produce 750,000 tons per year of steel while its downstream rolling equipment can handle 400,000 tons annually.
An article on the Illinois Business Journal website is among those that quotes a statement issued by Alton Steel CEO Chris Ervin.
“This is an incredibly painful decision for everyone involved,” says Ervin. “We have worked tirelessly to modernize this facility and remain competitive, but we’ve reached a point where the fundamental structural challenges cannot be overcome.”
In the same statement, Ervin adds, “We cannot access the capital required to compete with larger, publicly traded competitors that have newer facilities and modern equipment.”
He concludes, “Alton Steel determined that pouring more money into this facility won’t change the fundamental issues, which include aging equipment, limited production capacity, and competition from much larger companies.”
The regional news outlet says more than 250 people are employed by Alton Steel.
The Illinois Business Journal also quotes Illinois State Senator Erica Harriss as commenting, “I am truly shocked by today’s announcement. Just weeks ago, Alton Steel was actively hiring, and there were no indications that these jobs or this facility were at risk. My heart is with the workers and their families, and my focus is on making sure they are not left to navigate this crisis alone.”
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