Over-capacity of the industrial gas industry that allowed Lee to grow and prosper in the 1980s and '90s, the downward turn in the U.S. steel industry and a significant decrease in the need for large fabricators contributed to the company's decision to close, according to a news release from company president Ivor H. Lee.

For three years, the company operated at a loss with a minimal staff, the release said.

In 2001, the company pinned its hope for survival on some promising signs of growth in the power industry. However, the fall of Enron put many of those projects on hold, reducing Lee's chance for survival. By the end of the year, Lee was out of capital and with no new work on the horizon, was forced to close.

Started in 1923 in Sharon as a plumbing company by Ivor J. Lee and his wife Lydia, the company maintained a small profile, specializing in steam heating and light commercial and residential plumbing systems.

During World War II, the company landed the contract for the rest rooms and underground sewer lines for the Army's Camp Reynolds replacement depot.

After completing that contract, the company grew and began doing mechanical work in schools, colleges, hospitals and office buildings in western Pennsylvania

In the early 1960s, the company expanded to industry, specializing in steel-mill construction and renovations and developing a reputation as a specialist in all types of welding.

As the nation's exploration of space grew, the company began installing space simulators across the country. At the same time, Lee began installing cryogenic oxygen plants in steel mills and related industries.

In the early 1980s, as the cryogenic industry started to take off, company management decided to cut back on Lee's field construction work and concentrate on fabrication shop work. The company developed welders who specialized in alloy metals, and it established a manufacturing facility specializing in cryogenic fabrication.

As that industry grew, Lee needed a larger manufacturing facility to build the cryogenic plants, or cold boxes, and bought a plant in Masury.

A vast array of heavy steel fabrication and machining equipment came with the plant.

Lee also hired much of the previous owner's work force.