Steel Mill’s Closing Rattles Town Already on Shaky Footing
In Redcar, England, the century old Teesside Steelworks just announced that it would be closing, leaving 2,200 employees without jobs. The mill had previously supplied steel to bridges across the world and building such as 1 World Trade Center. Recently, the company has struggled to compete with companies in China that supply steel to most of Europe now. Several weeks ago the company declared bankruptcy. It appeared that a takeover could save the mill from closing its doors, but those talks just fell through.
See "Steel Mill’s Closing Rattles Town Already on Shaky Footing", KIMIKO DE FREYTAS-TAMURA, October 19, 2015