History of US Steel
The US Steel Corporation was established in 1901. As at end-2011, the company was the thirteenth-largest steelmaker in the world, with output of 22 million tonnes of steel.
The timeline below covers the history of the firm.
- 1873: Carnegie Steel founded by Andrew Carnegie.
- 1901: United States Steel Corporation founded.
- 1901: Acquisition of Bessemer Steamship Co (Great Lakes iron ore).
- 1904: Purchase of the Clairton Steel Company.
- 1906: Construction begins of the Gary Works, Indiana.
- 1907: Purchase of Tennessee Coal, Iron and Railroad Company.
- 1910: Acquisition of the Columbia Steel Company.
- 1949: Plans announced for construction of Fairless steelworks, Pa.
- 1964: Creation of new division - Pittsburgh Chemical Company.
- 1979: Restructuring - closure of 13 loss-making steel plants.
- 1982: Acquisition of Marathon Oil.
- 1983: Further restructuring - closure of many obsolete plants.
- 1984: Buys US properties and oil reserves of Husky Oil Ltd.
- 1986: Acquisition of Texas Oil & Gas Corporation.
- 1986: Jv with POSCO to modernize USX Pittsburg plant (California).
- 1986: Change of name to USX Corporation.
- 1990: Cost-cutting consolidation of Texas Oil and Marathon Oil.
- 2000: Acquisition of VSZ steel works in Kosice, Slovakia.
- 2001: USX split into 2: United States Steel Corp & Marathon Oil.
- 2001: Acquisition of LTV Steel’s East Chicago tin mill products plant.
- 2001: Closure of operations at Fairless Works.
- 2003: Purchase of bankrupt steelmaker Sartid in Serbia.
- 2003: Buys steel-related businesses of National Steel Corporation.
- 2007: Acquisition of Texas-based tubemaker Lone Star Technologies.
- 2007: Flat rolled capacity expansion - purchase of Canada's Stelco.
- 2010: Lockouts at Stelco Hamilton works - pension rights issues.
- 2010: Jv with Kobe Steel - ProTec coating plant investment in Ohio.
- 2011: Major coke plant refurbishment at Clairton plant, Mon Valley.
- 2012: Sale of U. S. Steel Serbia to the Serbian Government.
- Creation of United States Steel in 1901 was from the merger of several different steel companies including Carnegie Steel, Federal Steel [founded by John Morgan in 1898], American Steel & Wire and others. Charles Schwab was appointed by Carnegie to run Carnegie Steel. Elbert H Gary around this time was president of Federal Steel; and it was Carnegie, Morgan, Schwab and Gary who were instrumental in the subsequent creation of U.S. Steel.
- 1986 name change to USX was in recognition of United States Steel's involvement at this point in steel, energy and other non-steel business.
- In the reorganisation of USX in 2001, the United States Steel Corporation took on the same name in which it had been founded 100 years earlier.
- The 2010 pension rights negotiations for former Stelco employees arose since U.S. Steel - when it purchased Stelco for $1 billion in 2007 - undertook to the Canadian government that it would meet the pension obligations.
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