Word: armco
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Dates: during 1950-1959
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...million mill planned for Houston. But most steelmen had already decided that they have to expand one way or another to meet their growing markets. Republic Steel Corp. will still continue with its $187 million expansion program; so will Pittsburgh Steel Co., National Steel Corp., Armco Steel Corp. and Inland Steel Co., which have expansion plans totaling almost $500 million. U.S. Steel also is expected to keep right on with expansion of the huge Fairless Works in Bucks County, Pa., though it may postpone other expansion plans...
...Reserve Mining Co., owned by Republic Steel and Armco, will have its 3,750,000-ton taconite processing project at Babbitt and Silver Bay, Minn. in full production...
...Japan's petroleum industry, which in 1949 had to import 92% of its finished petroleum products, last year was able to produce 90% of the products at home, due largely to some $71 million invested by Caltex, Standard-Vacuum, Union Oil and Tide Water. By agreements signed with Armco International Corp., Japanese steelmen have been able to cut costs 5% and boost strip steel output by 90%. In the electronics industry, RCA's royalty of less than 2% on each TV set produced in Japan has saved the Japanese industry seven years and millions in research...
...below 70% of capacity from July through September, U.S. Steel's earnings slipped to $44,323,860, v. $61,706,264 for 1953s third quarter. Republic's earnings dropped 26.7%, to $10,302,001; Youngstown Sheet and Tube profits tumbled almost 45%, to $4,474,003. But Armco Steel Corp. held its own, turned in a profit of $10,167,361, or $1.95 a share...
...Humphrey, to promote the Ungava project in the U.S. Steelmen in the U.S. were beginning then to realize how seriously two world wars had depleted the U.S. Mesabi Range. Humphrey and Timmins managed to convince some of them that Ungava could be a new Mesabi. Six steel companies (Republic, Armco, National. Youngstown, Wheeling, Hanna) agreed to finance the project and buy Ungava...