U.S. Steel posts $122M loss in fourth quarter
Jan 27, 2014 | 07:35 PM
| Thorsten Schier
NEW YORK U.S. Steel Corp. posted a net loss of $122 million for the fourth quarter on the back of a $302 million non-cash restructuring charge related to the shutdown of its iron and steelmaking facilities at Hamilton Works in Ontario.
The company also spent $45 million during the period for facility repairs and maintenance costs on a blast furnace reline at Gary Works in Indiana and a planned blast furnace maintenance project at Fairfield Works, Ala., according to its fourth-quarter earnings statement.....
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