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Concord Steel files for protection



Published: Thu, November 22, 2001 @ 12:00 a.m.



A Trumbull County official said Warren's steel industry is like a battered boxer.

By BOB JACKSON

VINDICATOR COURTHOUSE REPORTER

YOUNGSTOWN -- On the heels of news that LTV Steel plans to close its coke plant in Warren, Trumbull County's economic picture took another blow Wednesday.

Concord Steel of Ohio Inc. filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court, Youngstown. The plant is on Buena Vista Avenue N.E. in Warren.

Court documents did not list specific information about debts and assets of the company, which makes parts for machine and fabricating shops, according to Vindicator files. A hearing on the bankruptcy will be Tuesday before Judge William T. Bodoh of bankruptcy court.

General Manager Paul Vesey was not available to comment on the company's employment numbers or financial situation. Atty. Douglas A. Campbell of Pittsburgh, who filed the petitions, also was unavailable to comment.

Another blow: Trumbull County Commissioner Michael O'Brien said it's another tough blow to the local steel industry, especially in Warren.

"We're getting to be like a prizefighter in a corner," O'Brien said. "We're taking blow after blow, trying to recoil and recover and see where we are."

Besides LTV and Concord, CSC Steel Ltd. in Warren, a special steel bar maker, was sold piecemeal at an auction in Cleveland last month, leaving more than 1,375 people without jobs.

He said the area has taken steps to diversify its economy in recent years, but is still largely dependent on the steel industry. Although Concord is not one of the county's major employers, "There's no doubt this is another hit," O'Brien said.

He was not sure how many people work at the steel plant, which he said remains open, but he said employees there have "been proactive" by taking concessions to help keep the company afloat.

bjackson@vindy.com




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