North Star Steel announced it is closing its Kingman, Ariz., steel mill March 17. Company officials said the plant had not achieved a level of financial performance expected when the plant was built in 1996.
“The market for steel reinforcement bars and wire rod products has not met our expectations,” said Jim Thompson, president of North Star Steel. “This was a difficult decision to make, but we could not continue manufacturing product at a significant financial loss to the company.”
Over the past several years the steel mill has struggled with the high cost of operations. The steel plant was hit with steep electricity costs several years ago when electricity costs skyrocketed on the West Coast several years ago.
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