Kentucky Electric Steel’s board of directors has instructed management to prepare and implement a plan to shut down the company's production facilities in Ashland, Ky. In the absence of a significant, near-term improvement in the company's financial circumstances, it is expected that this shutdown will be permanent.
In connection with this shutdown, the company has issued a WARN Act notice to its workforce pursuant to the Worker Adjustment and Retraining Notification Act. At the present time, the Company will continue shipping products to customers from its finished goods inventory.
Kentucky Electric Steel, Inc. is a publicly held company which operates a specialty steel mini-mill, manufacturing special quality steel bar flats for the leaf-spring suspension, cold drawn bar conversion, truck trailer support beam, and steel service center markets.Latest from Recycling Today
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