The company, founded in 1901, has deep roots in Alabama and was once the largest employer in Birmingham.
U.S. Steel’s CEO says his company will close steel mills if its planned $14.1 billion sale to Nippon Steel is not completed.If the deal collapses, U.S. Steel would likely also move its headquarters out of Pittsburgh, he said, and planned investment in older mills will not happen.
Nippon Steel, one of the world’s largest steelmakers and a top supplier to the American auto industry, announced the proposed deal last December.— coinciding with the White House’s earlier opposition. Former President Donald Trump also came out against the deal last month. “ reckless statements and mismanagement are the only true obstacles to U.S. Steel remaining a sustainable steel company,” the union said.The furnace employs a mix of mini-mill and integrated mill technology. Electric arc furnaces make steel from melted scrap metal instead of iron ore and can operate with fewer workers. They are also easier to stop and restart than traditional blast furnaces that must operate continuously to avoid damage, making them flexible to market demands.
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