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U.S. Steel says Lone Star is part of long-term growth strategy
LONE STAR, Texas A spokesman from Pittsburgh, Pa.-based United States Steel Corp. said Friday the acquisition of Lone Star Steel figures into the companys growth strategy and theres no intention to shut the plant. ‘Our intention is to operate those facilities’ said John Armstrong, a U.S. Steel spokesman. He said the deal must still be approved by Lone Star shareholders and the transaction should close in the second or third quarter of this year. The $2.1 billion deal was announced a little more than a week ago. Lone Star Steel, with about 1,500 employees, is a subsidiary of Lone ...
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