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Steel Company Keeps Business

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A Chicago-based steel manufacturer has decided to keep 350 jobs in the area. Tempel Steel plans to close its plant in north suburban Libertyville.

The company considered moving those operations to Mexico, but more than $6 million in government-backed aid helped convince Tempel to expand its Chicago plant instead.

Vincent Buonanno is the company’s chairman and CEO.

BUOANNO: We have a very good reason to take this business to Monterrey, Mexico. We spend millions there, we have an excellent plant, it’s one of the great lamination plants in the world. It’s really a question about trying to retain critical mass here.

Buonanno says the jobs will move from Libertyville to Chicago next summer.

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