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US Steel to become world's fifth-largest steel maker
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After purchasing Stelco by US$1.1 billion, the crude steel output at United States Steel Corp. reaches 33 million tons, when it was currently about 26.8 million tons.
It is reportedly that US Steel will be the fifth largest steel enterprise in the world, after the acquisition. US Steel has 5 steel mills in America. Stelco mainly produces auto steel sheet. This move would strengthen US Steel’s position in the automotive sector.
"We have some optimism about the long-term outlook for North American steel." said John Surma, U.S. Steel's chairman and chief executive.
News Date
8/30/2007 9:13:49 AM
reported by
Grace Jiang
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