A steel plant that has been a fixture in the center of Georgetown for decades will close its doors for good this summer.
Luxembourg-based ArcellorMittal announced Thursday that it has given the required 90 days notice that it will close the Georgetown wire rod facility in the third quarter of this year. The closure will impact 226 jobs, the company says.
The company’s CEO blamed “unfairly traded steel imports” from China and other countries as one of the reasons for the plant’s closure, saying the cheap Chinese steel undercuts their own business. ““Despite our joint efforts and a highly productive workforce, the facility has incurred significant losses… due to high input costs and imports,” ArcelorMittal Long Carbon North America CEO P.S. Venkat said in a statement. “Georgetown is a very productive plant, making 300,000 tons of product per year with fewer than 200 full-time ArcelorMittal employees — that’s about 1,500 tons per worker. Imports have really been damaging to the Georgetown facility, and the business overall.”