Stock-Market-Trends

U. S. Steel Idled Two Tubular Facilities in Pennsylvania, Texas

The company said this action is the result of business conditions which are influenced by unfairly traded tubular products imported into the United States."

Earlier this month, United States Steel Corp. said that it will indefinitely idle  two tubular manufacturing facilities in McKeesport, Pa., and Bellville, Texas, in early August, impacting approximately 260 employees.

The company said this action is the “result of business conditions which are influenced by unfairly traded tubular products imported into the United States."

The indefinite idling of these loss-making operations will reduce the number of U. S. Steel's tubular facilities from 10 to eight, but will enable the company to operate more profitably as it repositions to meet future customer demand.  

"U. S. Steel remains fully committed to the tubular products business and to serving our tubular customers, “  said Mario Longhi, CEO,  U. S. Steel. “While these are difficult decisions, they are necessary in order to return our company to sustainable profitability and position us for future growth.  We will continue to fight unfair trade by foreign competitors who are creating a detrimental impact and threat to middle-class paying manufacturing jobs."

U. S. Steel, along with other domestic producers, has filed an anti-dumping action with the U.S. Department of Commerce to halt the unfair trading and dumping of foreign Oil Country Tubular Goods (OCTG) into the American market.    

U. S. Steel will continue to produce and finish tubular products at its facilities in Alabama, Arkansas , Ohio and Texas where it employs 2,900 employees.

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