LTV-an ex-steel producer

摘要

Closure of a bankrupt steelworks will not necessarily speed the return to balance to a market, because the assets can be bought from the receiver and re-opened. LTV achieved the court judgment it needed for closure of all its production facilities, and de-commissioning began, in stages, before Christmas. While this could in theory take 8-10 percent of US HR capacity out of the system, only the oldest plant in Cleveland is likely to be dismantled there is already a queue of at least six prospective buyers for the better sections such as the lines serving the car industry. These would not only be re-started, but could even be expanded.Nippon Steel and Arcelor (nee Usinor) are both known to be among would-be owners. These two giant companies already co-operate on some technical matters. Both are eager to secure positions supplying the US car industry and US-based Japanese production lines. There was a rumour that they were pursuing the same end in negotiations with LNM group. London-based owners of Ispat Inland Steel. LNM have not only denied this but explained that while shares in the LNM holding company are traded, group structure does not allow for equity in subsidiaries to be offered separately.