Slater Steel said that it had notified staff and relevant unions of its intention to close permanently its Atlas Specialty Steels’ bar mill in the first half of 2003.
Production capacity from this plant will be transferred to Slater Steels’ other rolling mills. Moving production to these mills will better utilise capacity and result in reduced costs. The closure is also consistent with the company’s ongoing rationalisation programme aimed at improving efficiencies, optimising assets and reducing costs.
The closure will result in the loss of about 150-200 jobs.
Atlas Specialty Steels will continue to supply primary melt products from its state-of the-art melt shop. These products will be supplied to Fort Wayne Specialty Alloys and Slater Lemont.
They will also continue to operate their large diameter mills, forge, finishing and remelt facilities.
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Note: This press release does not relate to Atlas Steels Australia, which is a separate company. For information on materials that Atlas Steels Australia supply, click here.