HomeGAA in the MediaPress ReleasesNewsFerrosilicon plant to close temporarily

 

AMM
June 24, 2015
By Carla Bridglal

Ferrosilicon plant to close temporarily

NEW YORK — CC Metals & Alloys LLC will suspend ferrosilicon production at its Calvert City, Ky., plant for at least three months and lay off 109 employees effective July 1.

The company does not anticipate any disruption in supply to customers, and all sales and shipping activities will continue. CC Metals & Alloys said the temporary production shutdown will allow it to reduce inventory that has accumulated because of weak market demand and increasing competition from ferrosilicon imports in the first half of2015.

"This is a difficult decision to make and we share the disappointment of our employees, but we believe this is the only reasonable course of action at this time," said Mordechai "Motti" Korf, chief executive of CC Metals & Alloys' parent company, Miami-based Georgian American Alloys Inc.

About 65 percent of the Calvert City work force will be impacted by the layoffs, the company said.

AMM's latest free-market pricing assessment for ferrosilicon is 86 to 89 cents per pound.