USS finishes Gary Works blast furnace maintenance
Oct 31, 2012 | 12:23 PM
| Michael Cowden
Tags
U.S. Steel,
Gary Works,
blast furnace,
John P. Surma,
capital expenditure,
Leipsic,
ClairtonFairfield,
CHICAGO – U.S. Steel Corp. has finished a “significant” maintenance outage at the No. 14 blast furnace at its Gary (Ind.) Works and is close to wrapping up several other major capital projects, company executives said.
But the Pittsburgh-based steelmaker is wary of launching any big new initiatives until it has a better idea of what the global economy might have in store, chairman and chief executive officer John P. Surma said during a conference call with analysts following the release of third-quarter earnings Tuesday.
U.S. Steel is looking at possible projects related to iron ore, direct-reduced iron and tubular products, Surma said. “But like everyone else in the world ... we are approaching big projects with caution and trying to make sure he have a pretty good view of the world going forward. And, quite frankly, we don’t,” he said. ....
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