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Ryerson Announces Chicago Restructuring
Dec. 3, 2007 Ryerson Inc. announced plans to restructure its Chicago operations in a series of carefully phased moves that are to take place by the end of 2008. According to the company, the moves will bring Ryerson closer to its customers with improved service levels.
The transition of Ryerson's Chicago business to its other locations will result in the phased reduction of its processing and distribution operations in Chicago by the end of 2008. Ryerson will work with the Mayor's Office of Workforce Development to identify new opportunities for impacted employees.
“We are taking these steps to enhance our long-term viability and be a stronger corporate citizen in Chicago,” said Steve Makarewicz, Ryerson’s President and Chief Operating Officer. “We are confident that these moves will improve our customer service levels and make us a more nimble competitor.”
The company—which is the longest continually operating company in Chicago—said that it is planning to keep its corporate headquarters in the Chicago area and would maintain at least 500 jobs there.
Ryerson Inc. is a leading distributor and processor of metals in North America, with 2006 revenues of $5.9 billion. The company services customers through a network of service centers across the United States and in Canada, Mexico, India, and China.