PITTSBURGH, Nov. 23, 2015 /PRNewswire/ -- United States Steel Corporation (NYSE: X) announced today it will temporarily idle its Granite City Works steelmaking and finishing operations in Granite City, Ill. As the primary flat-roll supplier of the oil and gas industry, the idling is part of an on-going adjustment of steelmaking operations throughout North America to match customer demand.
The company routinely adjusts production at its operating facilities to reflect market fluctuations. This is a result of continued challenging global market conditions including fluctuating oil prices, reduced rig counts and associated inventory overhang, depressed steel prices and unfairly traded imports, which continue to have a significant impact on the business. The company will be working closely with its customers through this transition. The company will continue to operate its steelmaking operations in Indiana, Michigan and Pennsylvania as well some finishing operations in Alabama.
Granite City Works employees were issued notices under the Worker Adjustment and Retraining Notification (WARN) Act on Oct. 8.
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SOURCE United States Steel Corporation
Source: PR Newswire
(November 23, 2015 - 5:09 PM EST)
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