Metal Industry News

TimkenSteel Closing Houston Facility

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TimkenSteel Corp. will close its Material Services facility in Houston during the first quarter. The 100,000-square-foot operation provides value-added and finishing services, primarily to customers in the energy market.

"We are focusing on our core strengths of making and heat treating steel and more fully utilizing our supply chain to provide the value-added services required by our customers. This change to how we serve the evolving energy market will improve the company's financial performance," said William Bryan, executive vice president of manufacturing and supply chain.

As a result of the plant closure, the company expects to realize approximately $6 million to $8 million of annual savings.