Maintenance workers at a southwest Indiana steel facility are expected to lose their jobs as a result of a lost contract. In a notice to the state, Illinois-based Chicago Bridge & Iron Co. (NYSE: CBI) says 160 workers will be affected by AK Steel’s (NYSE: AKS) decision to not renew a deal for work at AK’s Rockport operation.
The contract is with CB&I’s Stone & Webster Construction Inc. subsidiary. AK Steel (NYSE: AKS), which is headquartered outside of Cincinnati. The steel manufacturer, which just announced its best quarterly financial performance in almost six years, says it has operations in six states, including Indiana.
In a notice to the Indiana Department of Work Force Development, CB&I says it is working with AK Steel for a "smooth transition" for displaced workers and is offering the opportunity to jobless employees to apply for open jobs within the company.
Most jobs are maintenance or electrical technicians. The contract is set to end at the end of the year.
The Rockport Works facility is near the Ohio River and has more than 1,750,000 square feet of carbon and stainless steel finishing operations.