Steel Mills

No Layoff of Workers at USS-POSCO
Written by Sandy Williams
January 3, 2014
USS-POSCO (UPI) in Pittsburg, California, filed a layoff warning with the California Economic Development Department (CED) that created concern that 690 employees would be laid off effective January 14, 2014.
USS-POSCO says media reports of a layoff were in error. A spokesperson for USS-POSCO said the company has “no imminent plans to lay off any employees at present,” despite the Worker Adjustment and Retraining Notification (WARN) filed with the CED. According to the spokesman, as quoted in an AMM article, UPI issues a warning periodically due to the “general uncertainty” of the steel industry. The company’s employees are sent a copy of the WARN notice as more of a “renewal to keep employees up to date.”
Steel Market Update spoke to one of UPI’s customers over the weekend who advised us that the mill would not be going down anytime soon. This executive told us,“UPI will always be in business. In what configuration is yet to be seen. UPI is the only Tin Mill Products producer in the western region with Tin Mill Products capacity upwards of 600,000 tons per year of. The PLTCM was designed specifically to produce the thin gauge FHCB needed to feed the Tin Mill. With the western US and especially California being a very large producer of canned produce/products, UPI will continue to produce Tin Mill products. Whether the ownership of UPI stays intact, or new partnerships are formed to take this mill forward will become evident over this coming year.”
USS-POSCO is a joint venture between US Steel and Korean steelmaker POSCO. The company manufactures cold rolled, HRPO (hot rolled pickled & oiled), galvanized, Advanced High Strength Steels (AHSS), and tin mill products. USS-POSCO has sales exceeding $1 billion annually.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills

Ternium pushes forward with growth projects despite slump in earnings and Mexican market
Ternium S.A. Fourth quarter ended Dec.31 2024 2023 Change Net sales $3,876 $4,931 -21.4% Net income (loss) $333 $554 -39.9% Per diluted share $1.43 $2.11 -32.2% Full year ended Dec.31 Net sales $17,649 $17,610 0.2% Net income (loss) $174 $986 -82.4% Per diluted share $(0.27) $3.44 -108% (in millions of dollars except per share) While […]

Kestenbaum, Ancora state their case in proxy fight for U.S. Steel
Ancora Holdings is moving forward with its proxy fight to oust U.S. Steel’s leadership and install a new board of directors and Alan Kestenbaum as CEO.
BlueScope shelves midstream facility but still upbeat on US
BlueScope Steel is pulling back on its expansion plans in the US for now but remains optimistic about the North American market.

Japanese PM cites ‘unjust political interference’ in Nippon/USS deal: Report
Japan’s Prime Minister Shigeru Ishiba said on Monday that former President Joe Biden’s decision to block Nippon Steel’s buy of U.S. Steel was “unjust political interference,” according to a report in Reuters. This comes after another Reuters report on Friday saying that President Trump would not object to Nippon taking a minority stake in the […]

Trump says Nippon will ‘invest heavily’ in USS rather than buy it
Nippon Steel has agreed to “invest heavily in U.S. Steel as opposed to own it,” President Donald Trump said on Friday during a press conference with Japanese Prime Minister Shigeru Ishiba. U.S. Steel is “a very important company” and was once “the greatest company in the world”. Of potential foreign ownership of the Pittsburgh-based steelmaker, Trump said, “the concept, psychologically, not good."