Republic Steel May Reopen Lorain Rolling Mill
Chronicle Telegram reported that Canton Ohio based Republic Steel has committed to reopening its rolling mill at East 28th Street in Lorain in Ohio
Chronicle Telegram reported that Canton Ohio based Republic Steel has committed to reopening its rolling mill at East 28th Street in Lorain in Ohio USA sometime this year, idled in 2016. Republic has proposed restarts to its furnaces year after year. Lorain Mayor Mr Jack Bradley said “He would not have announced the most recent promise at Monday’s City Council meeting if he didn’t think it was true. Of course, everything's subject to change, but if the markets remain where they're at right now, it looks very, very promising. The company is willing to restart its furnaces at a cost of about USD 50 million. A recent uptick in domestic markets has brought reopening the mill back to the table.”
The city is helping Republic secure a USD 500,000 grant from Jobs Ohio to help push the restart, Bradley said. That grant would require the company to hire 125 workers and keep operations running for a minimum of two years.
Republic Steel idled its Plant five years ago, but it had shut down certain operations and laid off workers in the years leading up to its almost complete closure. Since then, it has maintained a skeleton crew.
Republic Steel specializes in special bar quality, of SBQ, steel used in axles, drive shafts, suspension rods and other critical components of automobiles, off-highway vehicles and industrial equipment, according to the company.