JSW announced today measures it is taking to mitigate the impact of the Covid-19 pandemic. The company will temporarily idle the hot rolling mill and EAF at its Mingo Junction, Ohio facility for approximately four weeks. During the shutdown, JSW said it will complete planned CAPEX projects related to EAF modernization and general maintenance.
The company will also put its pipe mill in Baytown, Texas on “care and maintenance mode” from mid-May until June in order to complete several maintenance related activities in order to restart the mill at short notice once the market improves.
Additionally, JSW said it anticipates operating the hot rolling of plate at the Baytown plant as the company completes the remaining activities related to cold commissioning of Phase-1 of the $260 million plate mill modernization project. The mill’s plate processing and shipping facilities will also continue.
The company said market conditions in carbon flat rolled steel and pipe consuming sectors have “dramatically changed due to demand deterioration” caused by the pandemic along with the “turmoil in global oil and gas markets.”
As a result of JSW’s temporary changes in operations, the company will temporarily lay off certain employees in April and May “as necessary.”