National Steel Files For Bankruptcy

KEEWATIN-- National Steel in Keewatin announced Wednesday it has filed for Chapter 11 Bankruptcy.
The company said the move is a necessary step for financial stability, but the news is causing concern among union leaders, according to John Rebrovich, Steelworkers Union Local 2660.
"They've been struggling hard and their costs have come down considerably from a couple of years ago, and they're probably one of the most productive taconite facilities in the world right now, and yet they're facing this bankruptcy," said Rebrovich.
Company leaders told employees operations will remain unchanged.
National Steel's 400 workers will still receive pay and benefits, and the plant will fulfill its orders.
National Steel is the nation's 5th largest steel producer.