Word: steels
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Dates: during 1950-1959
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...Steel mills were producing at a scheduled 74.8% of capacity, a new high for the year and more than half a point above the previous week. Prospect for the fourth quarter: 85% of capacity...
There were still plenty of other recession sufferers, but to a lesser degree. Youngstown Sheet & Tube's third-quarter earnings were off to $3.6 million from $9.9 million last year; Republic Steel's were off to $15.2 million from $20.1 million; Inland Steel's dropped to $12.1 million from $13.4 million; RCA's net fell to $6.3 million from $8.0 million; Reynolds Metals' to $8.9 million from $9.3 million; National Distillers' to $5.1 million from $6.0 million; American Cyanamid's to $8,687,983 from...
...surprises of the recession was the steel industry's ability to operate at less than half capacity and still turn a profit. The chief reason for steel's sturdiness was a widespread modernization program, which cut industry costs and made production more efficient. Few firms benefited more handsomely from that policy than the nation's 17th-largest steel producer, a perky little maverick named Granite City Steel Co., located in Illinois just across the Mississippi River from St. Louis. While the industry is back to about 75% of capacity, Granite City Steel this week is humming along...
Granite City is fortunate in its location and its customers. Chiefly a producer of flat-rolled steel products for everything from cans to cars, it is the biggest steelmaker in the St. Louis area, enjoys favorable barge and rail rates to the booming South and Southwest. Furthermore, it has no single customer who takes as much as 10% of its output. Granite City owes its prosperity even more to a forward-looking $33 million expansion program that has already hiked its capacity 47% and slashed the per-ton cost of annual ingot capacity. Now producing at an annual rate...
...Nicholas P. Veeder, 48, that is out to prove that the little fellow can still compete successfully with the giants. By stepping up the productivity of existing facilities, the company has managed to hold down the cost of expansion to $67 a ton, v. up to $150 for other steel companies that had similar programs. While other firms laid off workers during the recession. Granite City Steel increased its labor forces from 4,943 a year ago to a record 5,050 today. During the first half of 1958. when the industry was down to 54% of capacity, Granite City...