Weirton Steel

Weirton Steel

:"Some of this section is provided courtesy of the [ Weirton Steel Corporation] through its [ History] , Website." Weirton Steel Corporation was an integrated steel mill founded in 1909 by Ernest T. Weir, who built Weirton Steel into one of the world's leading steel producers. In 1905 Weir and his partner, James Phillips, bought a tin mill in Clarksburg, WV. In 1909, the partners successfully relocated and expanded the operation in what was then Hollidays Cove, West Virginia. They choose Hollidays Cove because of its abundant water supply. The water was much needed for steel production, and offered ready access to major steel markets.

In 1929, Weir merged Weirton Steel with Detroit's Michigan Steel and Cleveland's M.A. Hanna Steel to form National Steel Corporation. National Steel quickly took a place among the nation's largest steel producers.

Over the next several decades Weirton Steel became an Industrial leader by setting production records and pioneering technical advances in the industry.

However, toward the end of the century Weirton Steel had fallen on hard times. In the early 1980's it was purchased from National Steel by the employees, thus at that time, making it the worlds largest Employee Stock Ownership Plan (ESOP).

Sadly this was not enough to ensure the longterm viability of the company. It finally went bankrupt in the early 21 century just short of its 100th birthday. By court order, the assets were auctioned with most being acquired by ISG. ISG then formed a new division called ISG Weirton Steel. On April 5, 2005, ISG completed a merger with Mittal Steel. Then again in 2006 , Mittal Steel completed a merger with Arcelor thus resulting in a new company known as Arcelor Mittal.

ee also

*ISG Weirton Steel
*International Steel Group
*Mittal Steel Company
*Arcelor Mittal

External links

* [ The History of Weirton Steel Corporation]
* [ Mittal Steel]
* [ Arcelor Steel]
* [ Arcelor Mittal Steel]

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