U.S. Steel

United States Steel Corporation
FormerlyUSX Corporation (1986–2001)
Company typePublic
NYSEX
S&P 400 Component
IndustrySteel
Industrial manufacturing
FoundedMarch 2, 1901; 123 years ago (1901-03-02) by merger of Carnegie Steel with Federal Steel Company & the National Steel Company
Founders
HeadquartersU.S. Steel Tower,
Pittsburgh, Pennsylvania
,
United States
Area served
Worldwide
Key people
ProductsFlat-rolled steel
Tubular steel
Iron ore
RevenueDecrease US$18.053 billion (2023)[6]
Decrease US$799 million (2023)[6]
Decrease US$895 million (2023)[6]
Total assetsIncrease US$20.451 billion (2023)[6]
Total equityIncrease US$11 million (2023)[6]
Number of employees
21,803 (2023)[6]
Websiteussteel.com

The United States Steel Corporation is an American steel company based in Pittsburgh, Pennsylvania, with production facilities in the U.S. and Central Europe.

The company produces and sells steel products, including flat-rolled and tubular products for customers in industries across automotive, construction, consumer, electrical, industrial equipment, distribution, and energy. Operations also include iron ore and coke production facilities.[7]

U.S. Steel ranked eighth among global steel producers in 2008 and 24th by 2022, remaining the second largest in the U.S. behind Nucor.

Though renamed USX Corporation in 1986, the company was renamed United States Steel in 2001 after spinning off its energy business, including Marathon Oil, and other assets, from its core steel concern.

Nippon Steel, Japan's largest steel producer, announced plans to acquire U.S. Steel for $14.1 billion, pending approval from regulators and shareholders. The deal, announced in mid-December 2023, would retain U.S. Steel's name and headquarters in Pittsburgh. It was opposed by the United Steelworkers,[8] the Trump campaign,[9] and the Biden administration.[10][11] As of December 2024, both the current Biden administration and the incoming Trump administration have pledged to block the proposed acquisition.[12][13] In January 2025, the Biden administration formally blocked the purchase.[14]

  1. ^ Vivian 2020, p. 24.
  2. ^ Warren 1996, p. 298.
  3. ^ Churella, Albert J. (2012). The Pennsylvania Railroad, Volume 1: Building an Empire, 1846–1917. Philadelphia, Pennsylvania: University of Pennsylvania Press. p. 570. ISBN 978-0-8122-4348-2. [Henry Clay] Frick had also been one of the founding directors of U.S. Steel, and he remained closely associated with that company...
  4. ^ Chernow 1999, pp. 389–391.
  5. ^ Chernow 1999, p. 393.
  6. ^ a b c d e f Corporation, United States Steel (2 February 2024). "U.S. STEEL ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (2023)" (PDF). Retrieved 13 February 2024.
  7. ^ "United States Steel Corp, X:NYQ profile - FT.com". markets.ft.com. Retrieved 2023-07-05.
  8. ^ Cite error: The named reference uswopposes was invoked but never defined (see the help page).
  9. ^ Cite error: The named reference :0 was invoked but never defined (see the help page).
  10. ^ Duehren, Andrew; Tita, Bob (March 14, 2024). "Biden Opposition to Takeover of U.S. Steel Comes After Months of Lobbying". Wall Street Journal. Retrieved March 15, 2024.
  11. ^ Cite error: The named reference mccallstates was invoked but never defined (see the help page).
  12. ^ Alexander, Peter; Wile, Rob; Yamamoto, Arata (September 5, 2024). "Biden preparing to block U.S. Steel sale to Japanese company". NBC News. Retrieved October 21, 2024.
  13. ^ "Truth Social". Truth Social. Retrieved 2024-12-04.
  14. ^ Sherman, Natalie (January 3, 2025). "Biden blocks Japan's Nippon Steel from buying US Steel". BBC News. Retrieved January 3, 2025.


Cite error: There are <ref group=lower-alpha> tags or {{efn}} templates on this page, but the references will not show without a {{reflist|group=lower-alpha}} template or {{notelist}} template (see the help page).


From Wikipedia, the free encyclopedia · View on Wikipedia

Developed by Nelliwinne