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Economy and Business

Republic Steel invests $85 million in Lorain plant
It plans to build an electric arc furnance that will increase its steel production by a million tons a year and bring 449 news jobs to the region

Anna Staver
Courtesy of PR Newswire
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In The Region:

Republic Steel announced today (Wednesday) that it’s spending more than 85 million dollars to build an electric arc furnace at its Lorain plant.

The Canton-based company says it will add more than 400 jobs. The plant now employs nearly 500.

Glen Nekvasil  is the president of the Lake Carrier’s Association in Cleveland. He says his ships won’t be carrying material for the new furnace because it will use scrap metal. His Great Lakes Carriers only bring in raw materials. But Nekvasil says the new construction is a good sign for the steel industry overall.

Nekvasil comments on recovery of steel industry

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Republic Steel says construction of its new furnace will begin in 2012 and be completed by 2013.

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