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Why is US Steel shutting down plants? Is it relocating operations?
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Why is US Steel shutting down plants? Is it relocating operations?
U.S. Steel is yet to recover from the effects of the global economic downturn, with the company reporting losses in Q1 2011 although almost all global steel manufacturers managed to rope in decent profits during the period. The company claims that its customer order levels have remained low since the recession, and so it is has had to idle its plant in Hamilton, Canada. The company has also relocated some of its raw-material supplies from this plant to other facilities in the US which indicates that it will continue to keep this plant idle in the near future.