V&M Star Steel Laying Off 50 Ohioans

V&M Star Steel is laying off about 50 of its Youngstown, Ohio workers, and delaying a nearly $1 billion expansion proposal.

About 50 V&M Star workers at the Youngstown plant are losing their jobs. The plant employs 465.

Despite the layoffs and the expansion delay, V&M is still committed to the purchase of about 113 acres of land in Girard and Youngstown needed for the proposed project. That location would employ about 411.

The city and V&M plan to have Youngstown spend up to $5 million to purchase the land, most of it in Girard, needed for the expansion, and have the company reimburse the city.

V&M received approval in December from the Ohio Tax Credit Authority for a $2.6 million tax credit for the proposed new location.

V&M manufactures seamless tubes used mostly in the gas and oil industry.