Valbruna resumes operations at former Slater Steel site

Business People, Sep 01, 2004

Valbruna Slater Stainless Inc. (VSSI) announced that sales and production operations at its Fort Wayne facility were resumed on July 12. Manufacturing operations at the former Slater Steels Corporation had ceased last November pending the sale of the facility at a bankruptcy court-ordered auction.

Valbruna immediately announced its intention to resume production and sales of stainless steel bar at the local facility after successfully bidding on the Slater operation Feb. 11. The company currently employs 45 and plans to hire an additional 35 over the next 18 months.

Since the purchase of Slater Steel in February 2004, the company has been rehiring former Slater workers and assembling a team to operate the Fort Wayne facility, explained Aldo Recchione, executive vice president of mill-direct sales.

"It is important that our customers be assured that a team of experienced people here in Fort Wayne will be dedicated to bringing back Valbruna Slater Stainless as a leading domestic producer of stainless steel bars," Recchione said.

VSSI will not melt steel at the local plant, but will operate the rolling mill and related equipment.

VSSI will initially accept orders for rounds and billets from 2-1/2 inches to 8 inches, with delivery expected to average five to six weeks from order date. All sales will be conducted through Valbruna Stainless Inc., a company formed by the merger of Valbruna Corp., based in Oakland, N.J., and First Metals Inc., In Houston, Texas. Valbruna Stainless is the official agent and representative of Acciaierie Valbruna SpA in Vicenza, Italy. Valbruna

Stainless operates warehouses in Los Angeles, Oakland, N.J., Cleveland, Houston, Dallas, Atlanta and Chicago.

In addition to the resumption of operations, VSSI announced the appointment of four key individuals with oversight of its operations. Recchione was named executive vice president of mill-direct sales for products from both the Valbruna Slater and Italian operations; Ed Scott, formerly with First Metals, was named executive vice president of distribution; Luciano Mura was named general manager of the VSSI mill; and Tom Carlson, formerly with Slater Steels Corporation, was named operations manager of VSSI.

Valbruna is a worldwide leader in the production of stainless steel long products that include wire rod, wire, billets, ingots, round, square, hexagonal and round bars, angles and channels, in addition to stainless steel reinforcing bars. The Valbruna distribution operation primarily serves the stainless steel service center industry. Valbruna has annual sales of approximately $600 million (U.S.) and employs about 2,500 people, mainly in western Europe and North America.