US Steel to acquire National Steel assets
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Manufacturing News, Source : TheManufacturer.com
Published : 10 Jan 2003 19:34
US Steel Corporation has agreed to acquire the bulk of National Steel Corporation’s steelmaking and finishing assets for approximately $750 million.
The company will also acquire $200 million of National Steel’s debt. With the acquisition, US Steel will be able to produce nearly 25 million tons of raw steel each year, ranking it the fifth largest steelmaker in the world, according to a recent statement issued by US Steel.
Thomas Usher, US Steel chairman, said the deal will also improve US Steel’s ability to serve North American automotive, container, appliance, and construction customers.
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