U.S. Rep. Loebsack visits Sivyer Steel for post-bankruptcy update

U.S. Rep. Dave Loebsack (D-Iowa) recently met with Sivyer Steel Corp.'s new ownership team to learn about the firm's progress since it was acquired out of bankruptcy in late October.

Based in Bettendorf, Iowa, Sivyer provides steel castings to manufacturers of industrial equipment in the passenger-rail, mining, military and oil and gas industries.

Loebsack met with Sivyer Chief Executive Officer Mike Baxley, President Keith Kramer and union leadership to learn about the company's current sales growth and rising employment. Company officials contrasted the firm's low point of 175 employees in 2014 to its current level of 251, which is growing to meet customer demand for the steel castings the company produces, Sivyer officials said in a press release.

They also noted that a number of foundries that produced steel castings have gone out of business over the past several years, which has contributed to the increased demand for Sivyer's products.

The executives also asked Loebsack to help gain federal support for solving the constant flooding problem caused by rainwater runoff at the Bettendorf facility.

Loebsack pledged to use his office to help bring together the city, CN, neighboring property owners and federal resources to mitigate the problem, Sivyer officials said.