Word: armco
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Dates: during 1970-1979
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Thus the policy stands to free up much investment money for new plants, improved productivity and more jobs. Regulators and businessmen agree that giving managers more freedom of choice will motivate them to develop more efficient, economical methods of fighting pollution. Example: the old regulations required Armco to install about $15 million worth of pollution-control equipment at its steel plant in Middletown, Ohio. Under a pilot project for the bubble plan, the company chose instead to spend $4 million to pave parking lots, seed other areas and put in sprinklers that will suppress iron oxide dust. These measures...
...Swope Parkway two women on the way to pick up their husbands at the Armco Steel plant took refuge on top of their car. But it overturned after being battered by abandoned floating cars and the torrents of water; one woman was rescued by six men who formed a human chain to pull her to safety, but her sister-in-law drowned. The 23 other dead were found, said one reporter, "all over the place...
...wrong, it will. They are beset by production cutbacks and layoffs, Government pressure to restrain price increases while spending heavily to comply with antipollution rules, and the industry's first sizable strike (by iron-ore workers) since 1959. Executives have also begun squabbling among themselves. Last week Armco Steel not only refused to go along with an industry price boost of 6% on structural steel, but announced that in the lower Midwest and Gulf Coast regions it would offer deeper discounts: $50 a ton, v. $30 formerly, off the list price of $320. Armco moved to match prices...
...earlier one did not. Last summer the mills scheduled a 4.5% rise on flat-rolled, effective Oct. 1. But demand then was weak. Some steelmakers apparently told favored customers they could continue to buy steel at the old prices; Armco then delayed its rise, U.S. Steel canceled the boost and the rest of the industry fell into line...
...still operating at only 72% of capacity, Wheeling-Pittsburgh Steel, one of the companies announcing an increase, claimed that flat-rolled products are selling especially well. National Steel, which led the increase, added that the boost would "only partially" recoup rising costs for materials, labor and freight. Significantly, Armco, the company that torpedoed the October rise, joined this...