U. S. Steel CEO: We're No Longer Playing Defense
05/05/2019 - After struggling in recent years with profitability and competition from unfairly traded imports, iconic United States Steel Corporation is turning the corner – and making significant investments for the future, reports The Times newspaper of northwest Indiana.
"We are now pivoting from playing defense to offense," U. S. Steel chief executive David Burritt told analysts during the company’s Q1 conference call last week, according to the newspaper. “I've never been more confident in our future than I am right now," he said.
On Thursday, the company reported that it tripled its first-quarter profits to US$54 million and announced that it would invest US$1 billion in a new endless cast-and-roll sheet mill at its historic Edgar Thomson Plant in Pittsburgh, Pa.
Burritt called the investment transformational and said it would create long-term value for customers, investors and employees alike.
You can read the full story from The Times here. You can also read more about U. S. Steel’s planned investment here.
