Investors purchase Vincent steel plant

Published 12:00 am Tuesday, August 8, 2006

Steel fabricators hope to bring 100 new jobs to Vincent by the end of next year.

A group of five investors has purchased the former Shelby Steel Plant and is currently leasing lots to three fabrication shops.

More than 25 jobs have been created since the holding company, called NSVLLC, purchased the plant on July 25. The group plans to expand to more than 100 workers in 2007.

&8220;Our long-term goal would be to add at least 70 more [workers] in a year to a year-and-a-half,&8221; said Ron Pharr, one of the investors and president of Southeastern Steel Service.

NSVLLC is an acronym for the five companies involved, including Southeastern, Nu Steel Fabricators and Vandiver Steel Fabrication.

The group formed to purchase the bankrupted Blazer Fabrication, which closed its doors in March 2004.

NSVLLC is currently leasing lots only to fabricators, but investor Harold Ridgeway says other industries are welcomed too.

&8220;We are going to try to pick the right people and the right companies,&8221; said Ridgeway.

Pharr and Ridgeway both say they would like to someday see the 55-acre site turned into an industrial park.

&8220;We have all these acres, but we are really using only 12 acres,&8221; said Ridgeway.

Developers say the jobs will have a huge impact on Vincent and Shelby County.

&8220;We are trying to hire all the people from the area we can,&8221; said Ridgeway. &8220;All these new jobs can&8217;t hurt the community.&8221;