Inland Steel to Close 4 Facilities, Lay Off 1,050

Inland Steel, the nation’s fourth-largest steel producer, said it will shut down four facilities at its Indiana Harbor Works over the next 18 months, laying off 1,050 salaried and hourly workers.

Chairman Frank W. Luerssen said Wednesday that massive steel imports, depressed steel prices and the high value of the U.S. dollar were reasons for closing the four steelmaking and finishing facilities.

The move will cut by 30% the plant’s 9.3-million-ton annual steelmaking capacity, Inland President Robert J. Darnall said. But he said the mill hasn’t operated at capacity for several years.

With the cuts, Inland’s salaried work force in its steel operations will be reduced to about 4,000, while the number of hourly union employees working at Indiana Harbor Works will fall to 11,000. Inland’s hourly employees now total 14,600, with 2,600 of them on layoff.