Posted in | News | Ferrous Alloys and Metals | Business | Iron and Steel

US Steel Challenge AK Steels Bid for National Steel

Feb 13 2003

In an interesting twist, US Steel are pursing a strategy to acquire the bankrupt National Steel, after the courts had recognised AK Steel as the lead bidder.

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US Steel is about to begin bargaining with the United Steelworkers of America (USWA) to try and reach a progressive labour contract covering National Steel's sites and its own sites represented by USWA.

In preliminary meetings between US Steel and USWA, they have already agreed upon a framework with which to begin negotiations. The deal is expected to be competitive with the one recently negotiated by International Steel Group.

US Steel believe that they will be able to reach common ground quickly, and that the new labour agreement will facilitate their ability to acquire and operate the National Steel operations.

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