A Marshall County steel mill is expected to close later this year, leaving more than 100 workers out of a job.
Gerdau, an international steelworks company, says the closing of the Calvert City facility comes as the industry suffers “significant losses due to a global overcapacity of steel,” leading to depressed prices and increased competition between producers.
Public Affairs and Communications Director Kim Selph says the Calvert City mill employs 130 workers and has been a challenge for cost-competitiveness because the facility does not have a melt shop for the production of steel billets, only a rolling mill.
Marshall County Judge Executive Kevin Neal says local economic leaders are working with the company to ensure all resources are available to mitigate the loss. Selph says the company plans to idle the facility by December.
Selph says the American steel industry continues to lose out to competition from china and the overrun of illegally traded steel materials.
