COALTON, Ky. — The forthcoming closure of a steel mini-mill will leave up to 113 people out of work in Kentucky.
The Daily Independent reports Kentucky Electric Steel will permanently close its Boyd County plant in March. The company’s human resources manager, Michael Estep, notified Ashland Mayor Steve Gilmore on Tuesday.
Boyd County Judge Executive Steve Towler anticipates the closure will take a heavy toll on the county, which he says is still recovering from the idling of the AK Steel plant two years ago. Gilmore echoed the concern, saying job losses on this scale have significantly impact the surrounding area.
Boyd County’s population is less than 50,000.
Kentucky Electric Steel’s parent company, Optima Specialty Steel, filed for Chapter 11 bankruptcy in December 2016, and completed its restructuring in October 2017.
Information from: The Independent, http://www.dailyindependent.com