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Niagara LaSalle Corp. files closing notice for Buffalo steel bar plant

Niagara LaSalle Corp. filed a notice with the state Labor Department indicating it will close its steel bar plant in South Buffalo this summer, eliminating 49 jobs.

The layoffs will take effect July 31, according to the notice.

A company representative did not return messages on Tuesday to comment on the filing. The notice did not explain what led to the impending closing, other than to say it was for “economic” reasons.

Parent company Niagara LaSalle Corp. is based in Indiana and has six facilities in the United States, including in Buffalo. The business has changed hands in recent years.

Niagara LaSalle Corp. was acquired in 2011 by Optima Specialty Steel, a Miami-based subsidiary of the Optima Acquisitions LLC investment firm, from Kohlberg & Co., a private equity firm. Kohlberg had acquired the Niagara LaSalle operations in 2006, when it bought Niagara LaSalle’s New York City-based parent company, called Niagara Corp.

Niagara Corp. bought the Hopkins Street operation in 1997 from Niagara Cold Drawn Corp.