Big Steel
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| Public | |
| Traded as | : X S&P 400 Component |
| Industry | Steel |
| Founded | March 2, 1901 by merger/buyout of Carnegie Steel by: Elbert Gary William Moore J. P. Morgan |
| Headquarters |
U.S. Steel Tower Pittsburgh, Pennsylvania, United States |
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Area served
|
Worldwide |
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Key people
|
David B. Burritt (President and CEO) |
| Products | Flat-rolled steel Tubular steel |
| Services | Consulting |
| Revenue |
 US$11.574 billion (2015)
|
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-US$1.055 billion (2015)
|
|
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-US$1.508 billion (2015)
|
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| Total assets | US$9.326 billion (2015) |
| Total equity |
 US$2.546 billion (2015)
|
|
Number of employees
|
37,000 |
| Website | USSteel.com |
The United States Steel Corporation (: X), more commonly known as U.S. Steel, is an American integrated steel producer with production operations in the United States, Canada, and Central Europe. The company was the world's 15th largest steel producer in 2014.
The company was renamed USX Corporation in 1986 and back to United States Steel Corporation in 2001 when the company spun off the oil & gas business of Marathon Oil and the steel business of U.S. Steel to shareholders. In 2001 it was still the largest domestically owned integrated steel producer in the United States, although it produced only slightly more steel than it did in 1902, after significant downsizing in the 1980s.
J. P. Morgan and attorney Elbert H. Gary founded U.S. Steel on March 2, 1901 (incorporated on February 25) by combining Andrew Carnegie's Carnegie Steel Company with Gary's Federal Steel Company and William Henry "Judge" Moore's National Steel Company for $492 million ($14.16 billion today). At one time, U.S. Steel was the largest steel producer and largest corporation in the world. It was capitalized at $1.4 billion ($40.30 billion today), making it the world's first billion-dollar corporation. The company headquarters was established in 1901 in the Empire Building in New York City, purchased from the estate of Orlando B. Potter for $5 million.
In 1907 US Steel bought its largest competitor, the Tennessee Coal, Iron and Railroad Company, which was headquartered in Birmingham, Alabama. Tennessee Coal was replaced in the Dow Jones Industrial Average by the General Electric Company. The federal government attempted to use federal antitrust laws to break up U.S. Steel in 1911, but that effort ultimately failed. In its first full year of operation, U.S. Steel made 67 percent of all the steel produced in the United States. One hundred years later, its shipments accounted for only about 8 percent of domestic consumption.
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Wikipedia