Hundreds of area Steelworkers lost their jobs and many more face an uncertain future.

Hundreds of area Steelworkers lost their jobs and many more face an uncertain future.
By CYNTHIA VINARSKY
VINDICATOR BUSINESS WRITER
The Mahoning Valley, once a bastion of America's mighty steel industry, watched one of its last remaining mills go dark in 2001.
Other steelmaking operations in the region and across the country also suffered from a sluggish economy and a glut of cheap steel imports that drove domestic prices to record lows.
CSC: More than 1,300 Steelworkers lost their livelihoods with the closing of CSC Ltd., a steel bar mill in Champion Township that ran into money problems and filed for Chapter 11 bankruptcy protection in January. Once the region's fourth-largest industrial employer, CSC was one of 17 American steel companies to seek bankruptcy protection this year.
CSC managers, government leaders and local representatives of the United Steelworkers of America spent months searching desperately for a buyer to operate the mill and save the jobs, but without success.
Finally, in October, the steelmaking equipment was sold piece by piece in a court-ordered auction that raised just $8 million.
The demise of CSC was especially painful because it followed three years of hope and optimism. The company had just completed a $100 million capital improvement project designed to modernize the steelmaking process, increase production capacity and improve CSC's competitive edge.But CSC's timing could hardly have been worse. As workers struggled to get new equipment up and running, the economy and the demand for steel began to tumble and lenders lost confidence in steelmakers.
By the end of 2000, CSC began running short of cash, and no bank would lend the money it needed, so the company was forced to file for bankruptcy protection and, eventually, to close down.
There is a shred of hope that some jobs might return to the CSC mill site. Two prospective buyers have expressed interest in buying the 400-acre site and buildings, although no plans have been announced for use of the land.LTV: Meanwhile a decision by LTV Steel in Cleveland to put its massive steelmaking operations up for sale also has affected its 300 Valley workers and its thousands of area retirees.
The third-largest steel producer in the country, LTV filed for Chapter 11 protection last December. It plans to sell its coke plant in Warren, but only if a buyer can be found soon, and will operate its LTV/Copperweld Tubular Products mill and office building in Youngstown until it finds a buyer for those.
Concord: There's a glimmer of hope for the future of Concord Steel in Warren, another area steelmaker operating under Chapter 11 protection, because the company has two interested buyers and could soon have a new owner. Concord makes counterweights used in elevators and heavy equipment and employs about 100 locally.
vinarsky@vindy.com