Word: armco
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...nation's steel and other raw materials, and the impact of the strike is already being felt. Major citrus and produce growers are unable to ship their crops North. As a result, the price of oranges, strawberries and other perishables will rise. Because of material shortages, Armco Steel Corp. closed its Columbus plant indefinitely, throwing 565 people out of work. Republic Steel, Youngstown Sheet & Tube and U.S. Steel may close their plants in Youngstown. Strike leaders predict that unless the Government offers them a more satisfactory deal, food shortages will begin to crop up early this week in major...
...perfected its technique for economically extracting iron from a gray rock called taconite, which previously was considered to have too low an iron content for commercial mining and processing. Today the plant, producing 15% of the nation's iron ore, is a solid money-maker for its owners, Armco Steel Corp. and Republic Steel Corp. One reason for the profits: By dumping "tailings," or waste sand, into Lake Superior, the company saves some $25,000 a day over the costs of hauling them to disposal sites on land...
...department has filed roughly the same number of cases as in previous years, it has doubled the number of criminal actions−from eleven in 1971 to 23 in 1972. Last month three of the nation's largest steel producers−U.S. Steel Corp., Bethlehem Steel Corp.and Armco Steel Corp.−were charged with conspiring to monopolize the Texas market for reinforcing bars. Indictments have also been returned against three major trucking firms charging them with trying to force competitors out of business. In Los Angeles, the Justice Department is conducting an investigation to determine if there...
...that the increases are needed to provide money to expand their plants. Some add privately that they can present cost data that would justify a lift of 6%. Their case was weakened by unrelated but embarrassingly timed indictments handed down by a federal grand jury, charging U.S. Steel, Bethlehem, Armco and 14 smaller companies with fixing prices on certain products in Texas...
...Price Commission continued to toughen its regulation of the companies with annual sales of $50 million or more that must report price and profit data. The commission ordered more rollbacks involving major companies, though relatively minor products. Textron Inc., for example, must rescind a price increase on snowmobiles, and Armco Steel will have to cancel hikes on such merchandise as soap and hammers sold in its oilfield supply stores, which account for less than 1% of Armco's sales. Both companies were also ordered to refund money to customers who were charged the higher prices. Associated Wholesale Grocers, which...