Roanoke Electric Steel Corp. reported that its subsidiary, Resco Steel Products Corp., had sold its reinforcing bar assets to Rockingham Steel, a rebar fabricator located in Harrisonburg, Va.
"RESCO is no longer a good strategic fit for us since Roanoke's mill operation no longer produces reinforcing bars, which is RESCO's primary raw material," said T. Joe Crawford, president and COO of Roanoke Electric Steel. "However, Rockingham Steel will be a good fit for RESCO, since rebar fabrication is its primary business. Rockingham Steel will improve the long term viability of the operation in Salem."
Roanoke Electric Steel has steel manufacturing facilities in Roanoke, Va., and Huntington, W.V., producing angles, rounds, flats, channels, beams, special sections and billets, which are sold to steel service centers, fabricators, original equipment manufacturers and other steel producers.
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