Republic Steel in Canton will be idling its steel production indefinitely, according to a release from Grupo Simec.
With both locations idling, about 500 Republic Steel employees will be furloughed indefinitely.
"We're facing an extremely challenging SBQ market in the U.S., with competitive market pricing and decreased demand," Jaime Vigil, Republic Steel board member and executive advisor, said in a statement."At the same time, we've had to deal with increasing input costs on all raw materials, consumables, and labor, all as a result of the inflationary environment in the U.S. over the past year.
In Canton, they have been producing steel in a 125-year-old factory, making it difficult to comply with National Ambient Air Quality Standards set for steel making. Therefore, the company said it found it to be best for operations to move to the Tlaxcala location.
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