USS plans Gary reline, Slovak debt repayment
Oct 27, 2004 | 11:11 AM
| Scott Robertson
USS plans Gary reline, Slovak debt repayment The three main business segments of U.S. Steel Corp. were profitable in the first nine months of 2004, and the company already has plans to plow some of those earnings back into its business.
Among its plans are to pay off debt of its Slovakian operation and engage in a major blast furnace reline at its flagship Gary plant in Indiana next year.U.S. Steel uses segment income from operations to evaluate company performance. The Pittsburgh-based company's reportable segments--domestic flat rolled, tubular and USS Europe--and other businesses generated segment income from operations of $570 million, or $108 a ton, in the third quarter ended Sept. 30, up from $454 million ($82 a ton) in the second quarter. The company posted a $9-million operating loss in the third quarter of last year.....
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