Lynchburg Steel & Specialty is closing its operations in Monroe, Virginia by the end of August. The site fabricates structural steel for use in construction projects and employs approximately 80 individuals.
According to the press release, the business has been in the area for almost 50 years with foreign ownership from 1996-2008. The original founding family purchased it back in 2008 and infused the operation with new capital. Along with economic difficulties cited, Doug Anderson, President of Lynchburg Steel stated, “We feel this is the best decision due to the increased demands of the structural steel industry.”