Insteel Industries Announces Closure of Warren, Ohio Facility
Insteel Industries, Inc. (IIIN)
US:NASDAQ Investor Relations:
investor.insteel.com
Company Research
Source: Business Wire
MOUNT AIRY, N.C.--(BUSINESS WIRE)--Insteel Industries Inc. (NYSE: IIIN) (“Insteel” or the “Company”) announced today that it will be closing its facility in Warren, Ohio, and moving the manufacturing to the Company’s remaining welded wire reinforcement production facilities. The Warren facility was acquired as part of Insteel’s recent purchase of Engineered Wire Products, Inc.The consolidation of the Company’s welded wire manufacturing operations is expected to result in the elimination of up to 35 positions at the Warren facility. It is anticipated that operations at the Warren facility will cease by the end of November 2024. Insteel expects to incur a restructuring charge of approximately $1.9 million related to the facility's closure.“Given the low capacity utilization levels at our Warren facility and the dim prospects for improvement, we believe this action is essential to reducing our operating costs and strengthening our competitive position,” stated H.O. Woltz III, Preside
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News
- Insteel Industries Announces Closure of Warren, Ohio Facility [Yahoo! Finance]Yahoo! Finance
- Insteel Industries Declares Regular Quarterly and Special Cash DividendsBusiness Wire
- Insteel Industries, Inc. (NASDAQ: IIIN) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Insteel Industries acquires assets of Engineered Wire Products [Seeking Alpha]Seeking Alpha
- Insteel Industries Acquires Assets of Engineered Wire ProductsBusiness Wire
IIIN
Earnings
- 10/17/24 - In-Line
IIIN
Sec Filings
- 11/18/24 - Form 8-K
- 11/12/24 - Form 8-K
- 10/24/24 - Form 10-K
- IIIN's page on the SEC website