Changing hands
The Newton Steel plant in Monroe has been owned and operated by 6 different owners in its first 20 years of operations. However it has kept the name of Newton Steel until 1937 where it officially changed its' name.
From when it was built in 1930 until the labor strike in 1937, it had changed ownership because of companies that merged or joined together. Eventually it was re-bought by Republic at a foreclosure sale for the sale price of $2,500,000.
The plant in Monroe was built for and owned by the Newton Steel Company, a sheet steel producing company from Youngstown Ohio.
On July 7th 1932 The Newton Steel Company merges with another steel company known as Corrigan-McKinney. At this time Corrigan-McKinney owns the Newton Steel Company, running it as a subsidiary.
On September 23 1935 Corrigan-McKinney merges with Republic Steel under the "Republic Steel" name. Newton Steel keeps its name and is now controlled by Republic.
On August 8 1937, the plant is sold directly to Republic Steel and the Newton Steel name will no longer be used. |