WARREN, Ohio--(BUSINESS WIRE)--Warren Steel Holdings (“WSH”), a leading producer and global supplier of high-quality carbon and alloy steel continuously cast products, today announced the Public Utilities Commission of Ohio approved and authorized a Reasonable Arrangement related to its electrical power supply rate.
Under terms of the Reasonable Arrangement, WSH will receive a discounted electric rate in line with similar electric arc furnace producers in Ohio and many other states. The Reasonable Arrangement is designed to allow WSH to compete with out-of-state competitors, forge strategic partnerships with other Ohio steel companies and reopen its manufacturing facility, which was suspended in late March due in large part to high manufacturing costs.
“Being granted the Reasonable Arrangement is a critical component to ensuring the long-term viability of the company,” said John Scheel, Vice President of WSH. “We will now be able to resume operations, avoid layoffs, better compete in a highly competitive market and invest additional capital into the plant and take advantage of attractive current business opportunities. On behalf of everyone at WSH, I want to thank the Public Utilities Commission of Ohio for its expedited and thorough review of our application, as well as FirstEnergy, Ohio Edison and the numerous government employees that showed their support for this important matter.”
WSH employs 314 full-time equivalent jobs, including wage and salary workers and on-site contractors. The approval and authorization of the Reasonable Arrangement will enable WSH to restart operations on August 1st.
About Warren Steel Holdings:
Founded in 2001 and headquartered in Warren, OH, Warren Steel Holdings (WSH) is a leading producer and global supplier of high-quality carbon and alloy steel continuously cast products. WSH’s 390 plus acre, ISO 9001 certified facility is capable of producing approximately 800,000 metric tons of product annually. The company employs state-of-the-art equipment and systems, providing it with the flexibility to quickly process highly specialized orders that meet clients’ exact specifications. WSH’s skilled workforce, rigorous testing requirements, logistical capabilities and competitive pricing distinguish it from the competition and position the enterprise for continued growth. The company’s engineered products are currently used in a variety of different industries, including aerospace, oil, gas, mining, construction, automotive and agriculture. For more information, please visit: www.warrensteelholdings.com/index.html.