Insteel Closing Texas Facility, Will Eliminate 48 Positions (IIIN)

Insteel Industries IIIN announced that it was closing its leased facility in Houston, Texas and moving the manufacturing to its Dayton, Texas plant. The production equipment at the Houston facility was acquired in connection with Insteel's recent purchase of certain of the assets of Ivy Steel & Wire. The consolidation of the plants is expected to result in the elimination of 67 positions at the Houston facility and the addition of 19 positions at the Dayton plant, which will be offered to the Houston employees, for a net reduction of 48 positions. It is anticipated that operations at the Houston facility will cease by the end of February 2011 and the equipment will be redeployed to other Insteel locations.