United States Steel Announces Possible Consolidation of Flat-Rolled Operations
PITTSBURGH, Oct. 6, 2015 /PRNewswire/ -- United States Steel Corporation (NYSE: X) announced today it is examining a consolidation of its North American Flat-Rolled operations and may temporarily idle its Granite City Works steelmaking operations and most finishing operations in Granite City, Ill. As the primary flat-roll supplier of Lone Star Tubular Operations, the consolidation is part of an on-going adjustment of steelmaking operations throughout North America to match customer demands.
The company routinely adjusts production at its operating facilities to reflect market fluctuations. The potential consolidation is a result of continued challenging global market conditions including fluctuating oil prices, reduced rig counts, depressed steel prices and unfairly traded imports. These global influences continue to have a significant impact on the business. The company will be working closely with its customers and will continue to operate its steelmaking operations in Indiana, Michigan and Pennsylvania.
As part of the possible consolidation, 2,000 employees at Granite City Works are being issued notices under the Worker Adjustment and Retraining Notification (WARN) Act. These notices will be issued beginning on Oct. 6 and are separate from previously issued notices.
United States Steel Corporation, headquartered in Pittsburgh, Pa., is a leading integrated steel producer and Fortune 200 company with major operations in the United States and Central Europe and an annual raw steelmaking capability of 22 million net tons. For more information about U. S. Steel, please visit www.ussteel.com.
SOURCE United States Steel Corporation
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