U. S. Steel Research and Technology Center to Move to New Facility at the Waterfront
United States Steel Corporation (NYSE: X) announced today that it has entered into an agreement with Continental Real Estate, Inc. to purchase a 191,000 square-foot building located in The Waterfront at 800 Waterfront Drive, Munhall, Pa., on the former site of U. S. Steel's Homestead Works.
The building will become the new home for U. S. Steel's Research and Technology Center, which is currently located in a leased facility in Monroeville, Pa.
The closing is expected to take place on Dec. 17. Terms of the sale were not disclosed.
Over the next 12 months, the building will be modified to meet U. S. Steel's unique requirements, with occupation scheduled for 2006. The new facility will provide the proper environment for the changing needs of U. S. Steel's research and technology programs.
Originally built for and leased by Siemens Westinghouse Power Corporation for the manufacture of fuel cells, the building was never occupied.
For more information about U. S. Steel, visit http://www.ussteel.com/ .
SOURCE: United States Steel Corporation
CONTACT: John Armstrong, +1-412-433-6792; or Carlee Vargo,
Web site: http://www.ussteel.com/
Company News On-Call: http://www.prnewswire.com/comp/929150.html