FOLLOWING EFFORTS BY REP. RYAN AND SEN. BROWN, WARREN STEEL HOLDINGS RESTARTS TODAY AFTER RECEIVING NEW ENERGY AGREEMENT
WASHINGTON, D.C. – U.S. Rep. Tim Ryan (OH-13) and U.S. Sen. Sherrod Brown (D-OH) applauded today’s restart of the Warren Steel Holdings company. The company’s new production follows the successful efforts by Brown and Ryan to urge the Public Utilities Commission of Ohio (PUCO) to agree to a “Reasonable Arrangement” that would reduce energy costs for the company and enable it to remain competitive. Late last month, PUCO agreed to this request and Warren Steel Holdings announced that it would reopen its facility, saving hundreds of Mahoning Valley jobs in the process.
“I am pleased that Warren Steel Holdings got the utility rate reduction needed to restart their mill,” Ryan said. “This decision will help Warren Steel Holdings remain competitive as they seek new opportunities for growth and increased employment.”
“This is an excellent day for Mahoning Valley workers and the local economy,” Brown said. “The reopening of Warren Steel Holdings will save hundreds of jobs and $53 million in employee compensation. Facility upgrades can now be made, and new jobs created. PUCO made the right decision, and as a result, the Mahoning Valley is strengthened.”
In March 2014, Warren Steel Holdings suspended operations due in part to high energy costs. The company indicated that it had no plans to restart operations unless it acquired a more competitive power rate. Last month’s ruling not only enabled the company to restart operations, but to upgrade its facilities and create new jobs in the future.
Ryan and Brown’s June 2014 letter to Tom Johnson, the Chairman of PUCO, can be read in its entirety HERE.