Word: armco
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Dates: during 1950-1959
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...Aurora, Minn, plant is the only one producing the walnut-sized pellets in commercial quantities. U.S. Steel, which has felt no rush for substitutes because it owns the biggest share of the remaining rich ores, has been content to build two pilot plants. But Republic Steel and Armco, not as well supplied, 18 months ago went into taconites in a big way through their joint subsidiary, Reserve Mining Co. (TIME...
...larger steel companies were hit even harder by taxes. Republic's net slipped from $16,621,334 to $12,271,377, Armco's from $11,894,130 to $10,443,239. Yet the smaller steel companies, with a more favorable tax base, turned in some impressive rises. Wheeling Steel's net shot up from $2,998,696 to $5,043,744, and Barium Steel turned a $95,836 loss into a $1,875,509 profit...
...Steel Corp.'s new $400 million plant near Morris ville, Pa. The "Fairless Works" will pour 1,800,000 tons of steel a year, add about 5% to Big Steel's capacity. But the Morrisville plant was just the start of a rush; Jones & Laughlin, Armco Steel and Bethlehem were also hustling to multiply their capacity, along with a swarm of hastily formed new steel companies...
...boss of the nation's power. BRUCE K. BROWN, 52, president of Pan-Am Southern Corp. (oil distribution), and veteran of World War II's Petroleum McMANUS Administration for War, to be oil boss. CHARLES W. CONNOR, 67, in charge of coal-mining operations for Armco Steel Corp. at Charleston, W.Va., to be solid fuels administrator (e.g., coal...
Last week, convinced that big-scale mining of taconite was feasible, Republic Steel Corp. and Armco Steel Corp. joined hands and began to dig in. On a 50-50 basis, they bought out Reserve Mining Co., which owns leaseholds on 17,000 acres of taconite. Republic and Armco agreed to build a $60 million ore-processing plant near Beaver Bay, on Lake Superior's North Shore, and a 47-mile railroad to the taconite mines. The immediate production goal: 2,500,000 tons of taconite ore a year. Ultimately, the two companies plan to spend $100 million more...