U. S. Steel To Adjust Production In Alabama And Texas
PITTSBURGH, Jan. 26, 2015 /PRNewswire/ -- United States Steel Corporation (NYSE: X) announced today it will temporarily adjust operations at Lone Star Tubular Operations in Lone Star, Texas, and Fairfield Tubular Operations in Fairfield, Ala. Fairfield Works, the primary flat-roll supplier of rounds to Fairfield Tubular Operations, will also adjust operations. The adjustment in operations is a result of softening market conditions that reflect the cyclical nature of the energy market. Global influences in the market, like unfair trade and fluctuating oil prices, continue to have an impact on the business.
The company routinely adjusts production at its operating facilities to reflect market fluctuations. The adjustment in operations is a temporary reduction in operating levels and is not a full idling of plant operations. The company has worked with its customers to anticipate this adjustment and has produced sufficient inventory to meet customer demand during this period. As a precaution, 1,918 represented employees across the three locations have been advised of the upcoming adjustment and are being issued notices under the Worker Adjustment and Retraining Notification (WARN) Act.
U. S. Steel President and CEO Mario Longhi will address today's announcement on the company's upcoming fourth quarter 2014 earnings call on Wednesday, Jan. 28 at 8:30 a.m. EST.
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