wiredinUSA March 2015

INDEX

CONV E N T I ON : A P R I L 2 7 - 3 0 , 2 0 1 5

E X P O S I T I ON : A P R I L 2 8 - 3 0 , 2 0 1 5

Consolidating production

Insteel Industries Incwill close its prestressed concrete strand facility in Georgia, and move manufacturing to three PC strand production facilities in Tennessee, Texas and Florida. The Newnan facility was acquired from American Spring Wire Corporation in August 2014. Employees at Newnan will be offered employment at Insteel’s other facilities, with relocation and transition assistance. Operations at Newnan will end during March 2015 and the PC strand-related equipment relocated to Insteel’s other facilities.

The annualized cost savings from the consolidation of the plants is expected to be approximately $3million. “The actions we are taking to consolidate our PC strand facilities will strengthen our market leadership position by aligning our manufacturing capacities with the requirements of our markets and reducing our operating costs,” said HO Woltz III, Insteel’s president and chief executive officer. “Our decision to close the Newnan facility was made only after thoroughly evaluating other alternatives and we are committed to making the transition as smooth as possible for the employees who are impacted.”

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Insteel…on the move. Photograph courtesy of Insteel

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wiredInUSA - March 2015

wiredInUSA - March 2015

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