BREAKING NEWS | Warren metal plant might close
WARREN— A local union leader has received a warn notice from metal-parts manufacturer LB Steel LLC with intent to shutdown its steel plant in the city.
Jose Arroyo, business representative for the United Steel Workers in the Youngstown/Warren area, said he received a notice from the Harvey, Ill.-based plant on Oct. 15. with its intention to close down the Warren facility in 60 days.
Concord Steel produces and supplies steel counterweights, elevator weights, elevator test carts, test weights, stage weights, scaffold weights and frame weight components.
A total of 11 employees work at the plant located at 1451 Buena Vista Ave. NE. Arroyo said the plant had about 120 workers back in 2009. The company listed assets of between $10 million and $50 million and liabilities of $50 million to $100 million in documents filed in U.S. Bankruptcy Court in Illinois.
The intent to close the Warren plant comes after the company filed for Chapter 11 bankruptcy protection.
The company also has operates Topeka Metal Specialities in Topeka, Kan., and LB Steel Main Plant in Harvey.