U. S. Steel To Adjust Production At Minntac Plant
PITTSBURGH, March 31, 2015 /PRNewswire/ -- United States Steel Corporation (NYSE: X) announced today it will adjust operations and temporarily idle a portion of its Minnesota Ore Operations – Minntac plant in Mt. Iron, Minn., effective June 1. This action is due to the company's current inventory levels and ongoing adjustment of its steelmaking operations throughout North America. The company will continue to operate Minntac at reduced capacity in order to meet customer demand.
The company routinely adjusts production at its operating facilities to reflect market fluctuations. These ongoing operational adjustments are a result of challenging market conditions that reflect the cyclical nature of the industry. Global influences in the market, including a high level of imports, unfairly traded products and reduced steel prices, continue to have an impact. As part of the temporary idling, all employees at Minntac have been advised of the upcoming temporary idling and are being issued notices under the Worker Adjustment and Retraining Notification (WARN) Act. The number of employees impacted will be based upon operational and, or maintenance needs.
United States Steel Corporation, headquartered in Pittsburgh, Pa., is a leading integrated steel producer and Fortune 200 company with major production operations in the United States and Central Europe and an annual raw steelmaking capability of 24.4 million net tons. For more information about U. S. Steel, please visit www.ussteel.com.
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SOURCE United States Steel Corporation
For further information: Courtney Boone, 412.433.6791, Sarah Cassella, 412.433.6777