Local news in Hope, Arkansas reported Wednesday that the CMC Steel Products specialty steel joist beam fabrication plant is set to close.
“CMC Steel Products in Hope, Ar., is being closed,” CMC spokesperson Susan Gerber told local news media. “Operations will be consolidated into other locations.”
No further specifics were provided, although reports indicated that sources anticipate the closing date to be in early October.
CMC reported lower earnings in its fabrication segment in fiscal Q3, recording an operating profit of $1.2 million compared to $13.5 million in the same quarter of 2013. “The decline in adjusted operating profit is primarily due to margin squeeze as input prices increased, partially offset by an increase in shipments,” CMC said in its quarterly report.