PITTSBURGH (AP) — Allegheny Technologies Inc. says it won't reopen two western Pennsylvania plants that were idled earlier this year.
The Pittsburgh-based specialty steelmaker announced the closures Tuesday while also reporting a loss of $530.8 million in its third quarter.
The company earlier this year had left open the possibility that the plants in Midland, Beaver County, and Gilpin Township, Armstrong County, might one day reopen.
About 360 people worked at the Bagdad works in Gilpin, which made electrical steel, and 250 worked at the stainless steel plant in Midland.
The plants were idled because of increased foreign competition for certain kinds of specialty steel and declining markets.
The company's third-quarter losses amounted to $4.95 per share, but were 21 cents per share when adjusted for restructuring costs and pretax expenses.