Word: steelmen
(lookup in dictionary)
(lookup stats)
Dates: during 1950-1959
Sort By: most recent first
(reverse)
...disappointed steelmakers, there were few cries of real alarm. Bethlehem Steel Corp. and Youngstown Sheet and Tube Co. announced that they would review expansion plans; Jones & Laughlin Steel Corp. said that it would be forced to reappraise plans for a new $250 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...
Cash Needed. Where the steelmen will get the funds in the tight money market was another question. Last week Lukens Steel Co. produced an idea: it plans to finance its $40 million expansion program through 20-year loans from General Electric Co. and other big customers. Most other steelmen will probably depend on earnings to finance the new plants, are expected to boost prices to get the extra cash they need. At week's end U.S. Steel, Bethlehem and Inland Steel hiked prices 1% to 4% on specialty items for the second price rise in six months...
...biggest year since the Korean war with 1,567,661 tons of new shipping on order or on the ways. The Suez crisis, plus the trend to the null supertankers, flooded U.S. yards with orders -even if no one was sure when the steel would arrive. In 1956 steelmen spent $1.2 billion to expand. At year's end they planned to spend $2 billion more if the Government would allow them fast tax write-offs on the new plants...
Republic Steel is projecting markets as far ahead as 1965. By then, it expects auto production to hit 10 million cars annually. Steel consumption will rise 36% in the appliance industry, another 34% in the office and household furniture, hospital equipment and toy industries. To meet the new demand, steelmen plan a 25% increase in their capacity by 1965, another 25% by 1975. Others are just as optimistic. Planemakers, who have the biggest backlog ($3.5 billion) of civilian plane orders in their history, feel that they are just getting started. "Of course I'm bullish," says Boeing President William...
...Steelmen are in a good position to boost prices. With furnaces operating at better than 100% of capacity, they have more orders on their books than they can handle. Detroit's automakers alone will need enough steel to build an estimated 6,500,000 new cars in 1957, are already cranking up to top production speed. After a two-month lull for model changeover, the auto industry is working overtime to build 38 new cars each minute, plans to work overtime and Saturdays throughout November and December to keep pace with optimistic forecasts of fourth-quarter business...