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Igel

(36,533 posts)
3. Even that PA plant is a problem.
Sun Jan 12, 2025, 04:32 PM
Jan 12

Nippon said they'd invest in it. USS said they'd be likely to close and focus on a mill in a different state. The union either doesn't trust Nippon's commitment to keep the PA plant open or figures the Japanese are tougher to wring concessions out of at the bargaining table than US Steel's management has been.

Cleveland seems still to be interested in blocking this deal, up to the last minute (per some reports) but that could mean one of two things. One, they wanted to take over US Steel themselves. Two, they wanted a weaker US Steel, either because that's their competitor or just because of sour grapes. Cleveland, though, has less fiscal stability and less to invest, and one report said they'd invested elsewhere in the meanwhile so they might even have less to invest.

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