BusinessAugust 3, 1998
BUSINESS MEMO: PLANT TO CLOSE
Financially troubled Laclede Steel Co. will close a plant in Memphis, Tenn., next month. Officials at the St. Louis-based company announced last week the Memphis plant, which employes about 50 people, was not profitable. Company officials also said its largest plant, which is in Alton, Ill., is not making any money. About 800 people -- half of Laclede's employees -- work in Alton, said Mike Lane, Laclede's chief financial officer...
Financially troubled Laclede Steel Co. will close a plant in Memphis, Tenn., next month.
Officials at the St. Louis-based company announced last week the Memphis plant, which employes about 50 people, was not profitable.
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Company officials also said its largest plant, which is in Alton, Ill., is not making any money. About 800 people -- half of Laclede's employees -- work in Alton, said Mike Lane, Laclede's chief financial officer.
The Alton plant, along with six others, is under review as the company develops a restructuring plan. Further plant closings are possible, Lane said.
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