The new Big Three/ISG, Nucor, U.S. Steel usher in new era

摘要

Looking at the redefined United States steel industry, its more than a little astonishing to note that much of the structural change of the past 100 years has taken place in the last two. The defining blows have been buyouts and takeovers-the consolidation the industry badly needed hut put off for decades. Then in 1999 and 2000 came the one-two punch-bankruptcies and surging imports of foreign-made steel - that finally forced the United Steelworkers of America (USWA) and what remained of the integrated steel industry to join hands rather than cock their fists. According to steelmakers, the USWA agreed to labor concessions that, along with the Section 201 tariffs on imported steel enacted by President Bush in March 2002, made possible the creation of Cleveland-based International Steel Group (ISG) and the expansion of U.S. Steel.