Follansbee Steel To Close Unless Buyer Can Be Found
Follansbee, WV - Follansbee Steel, one of the metal construction industry's oldest and most respected companies, is reportedly on the verge of closing. The 110-year-old company continues to operate to fill existing orders but is taking new orders only in the event they can be filled with inventory on hand. Once that inventory is depleted the company will close for good unless a buyer can be found.
Follansbee and its Sheet Metal Specialty Divisions are owned by the Louis Berkman Company of Steubenville, OH. Follansbee's 36 employees were notified of the plans on January 12 and the company alerted the media the following day. Louis Berkman officials cited "sustained unfavorable business conditions" for their decision.
The story is being closely followed by local news outlets, including in the Steubenville (OH) Herald-Star newspaper and Steubenville's WTOV9 television station.
To read the Herald-Star's coverage, click the headlines below...
Jan. 13, 2012
Follansbee Steel Could Close
Jan. 18, 2012
Follansbee Steel Options Discussed
To see video coverage from WTOV9, click the headlines below...
Jan. 12, 2012
Follansbee Steel Going Out Of Business
Jan 13, 2012
Officials Respond To News Of Follansbee Steel Closing
Jan. 13, 2012
Officials React To Follansbee Steel Closing