Ohio’s steel industry shows positive signs

OHIO

State’s steel industry
shows positive signs

COLUMBUS — Capital spending in Ohio’s steel industry jumped dramatically during the third quarter of 2007 while employment also showed gains, the Ohio Steel Council said.

Capital investment for the quarter was $75.5 million, a 65 percent increase over the same period in 2006. During the third quarter of 2007, employment at Ohio steelmakers grew to an average of 14,229, an increase of 3.8 percent compared with the third quarter of 2006.

Steel production totaled 3.5 million tons during the quarter, a decline of 7.5 percent over the same period a year earlier, while shipments were down 0.9 percent to 3.9 million.

REGION

Earnings are up
at First Niles Financial

NILES — First Niles Financial earned $308,000 in the fourth quarter, compared with $130,000 in the same quarter of 2006.

For all of 2007, First Niles earned $793,000, compared with $665,000 in 2006.

First Niles is the holding company for Home Federal Savings and Loan Association of Niles.

From Vindicator staff reports