Oregon Steel closes California mill

Oregon Steel closes California mill

Oregon Steel Mills Inc. announced that it will close its Napa, California, pipe mill and sell off the assets and real estate. The Portland, Oregon-based steel producer stated that it expects to obtain a gain on the disposition of assets. The assets include 152 acres of real estate and are worth around $31 million. At the same time, the company has decided to build a two pipe mills near its Portland rolling mill with an annual capacity of around 150'000 tons. The project is expected to be completed during the first quarter of 2006.