December 03, 2008

Severstal North America workers await word on layoffs

It is reported that, while Severstal North America decides how to handle the economic downturn, steelworkers at several Ohio Valley plants will wait to see how long their layoffs last.

Mr John Saunders contract coordinator for the United Steelworkers said that Wheeling Corrugating is one unit that will keep working. Its busy filling orders for the storm socked Gulf Coast.

Mr Saunders said that a strong steel business requires strong auto and housing industries, as well as companies investing in capital improvements. Right now, all three are at all-time lows.

Meanwhile, Mr Dennis Halpin of Severstal said that it is re examining short term plans to balance production with orders, but nothing is finalized.