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Acme Metals

Steel has been widely used throughout the history of the United States. While the steel industry of today is volatile, with mergers, bankruptcies and acquisitions a common part of the business of making steel, for decades it provided steady work for generations of families. Because steel is used in so many products that are important to this country, and the world, it is not likely that the steel industry will ever die, but increased pressure from foreign markets and higher costs of doing business have combined to make the steel industry a smaller part of today's economy. One company that has been in the steel business in the United States for years is Acme Metals, a company that supplied some of the steel this country used for everything from battleships to bulldozer blades to screws.

The Early History of Acme Metals

Acme Metals was a company founded in 1918. Since its inception it has undergone many changes and evolved to meet the demands of a changing workplace. Acme Metals manufactured carbon steel. Carbon steel is the term used for a particular alloy, or combination of metals. Carbon steel is manufactured by combining iron and carbon, to gain the benefits of both. While it may contain trace elements of other metals, nothing aside from carbon and iron are intentionally added to carbon steel.

Acme Metals, located in Riverdale, Illinois, was made up of two companies, Acme Steel Company and Acme Packaging. Acme Steel Company was the division of Acme Metals that produced steel from iron ore. Acme Packaging manufactured fabricated steel products, typically rolls or strips of steels that were sold to other industrial manufacturing companies. Acme Metals sat along the banks of the Calumet River.

Recent History of Acme Metals

Acme Metals was a large employer in the Riverdale area. During its years of operation it averaged 1,100 full time employees. In recent years, Acme Metals has suffered a variety of financial hardships. In September, 1998, Acme Metals filed for Chapter 11 Bankruptcy Protection. At the time, Acme Metals blamed the North America Free Trade Agreement for its financial problems. The bankruptcy proceedings led Acme Metals to enter into a phased shut down of the plant. Shutting down a steel plant is complicated process, because of th blast furnaces and other specialized equipment located in the buildings. These components are made to remain in operation at all times, and shutting them down could lead to permanent closure.

During the bankruptcy proceedings, International Steel Group made a purchase offer for Acme Steel Company. This offer was eventually approved by the bankruptcy court, which is a requirement of all financial transactions when a company is going through the bankruptcy process. Chapter 11 Bankruptcy is a complicated process, and the goal is reorganization. Under Chapter 11, a company restructures its debt so that it can repay creditors while maintaining the company. Often Chapter 11 reorganization allows a company to emerge from financial difficulty stronger than before the proceedings. The sale of Acme Steel Group was finalized in August of 2002, and the company emerged from bankruptcy in November as ISG Riverdale, an independent company. The sale included the steel production division of Acme Metals.

In August, 2003, Illinois Tool Works purchase Acme Packaging. The steel business is very volatile, and this was not the end of changes for Acme Metals. In April of 2005, ISG Riverdale, the new company that was formed during bankruptcy, was sold to Mittal Steel USA.

Jobs at Acme Metals

As a longstanding company in Riverdale, Acme Metals provided jobs for many families. Many of the people in Riverdale and in the surrounding areas were employed by Acme Metals. Because Acme Metals both produced steel from raw materials and provided a finished product, in the form of steel rolls or strips, there were a wide variety of jobs available for the residents of the area. The work, while hard and hot, offered a good wage, and in the early years of the steel business, steady work. Furnace operators kept the ovens or pots hot, Machinists worked the steel, forming it into a finished product, welders repaired equipment in the plant, and many other people made a dependable living at Acme Metals. The work, at the time, seemed much safer than comparable jobs, such as mining. It was only later, when the dangers of asbestos became known, that people realized how wrong they were.

Asbestos Exposure in a Steel Plant

Before the dangers of asbestos were widely known, it was a common component of insulation and protective clothing. Because asbestos is resistant to heat and flame, and its fibers can easily be woven into fabric, clothing from asbestos cloth was often used to protect employees during the stages of steel fabrication and processing. Insulation to protect the employees from heat also contained asbestos.

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