Business Services Industry
Dip in demand, prices lead Mittal to slow production.(News)(Mittal Steel Company)
Crain's Cleveland Business, July, 2005 by Bennett, David
Byline: DAVID BENNETT High steel inventories and reduced demand for steel are prompting Mittal Steel Co., the world's largest steelmaker, to evaluate how it best will use mills obtained in April's acquisition of Richfield-based International Steel Group. Mittal, based in the Netherlands, has made subtle moves to ease production output during the last two months due to declines in customer demand and steel prices.
In one move, Mittal's main mill in Cleveland took over some steel work from Weirton Steel Corp. of West Virginia. ISG in 2004 bought bankrupt Weirton, the second-largest tin plating operation in the country. Mittal on June 9 laid off at least 600 workers when it idled one of the company's two blast furnaces at Weirton. Mark Glyptis, president...
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