United States Steel Corporation reports 2013 second quarter results
United States Steel Corporation reported a second quarter 2013 net loss of $78 million, compared to a first quarter 2013 net loss of $73 million, and second quarter
2012 net income of $101 million.
Commenting on results, U. S. Steel Chairman and CEO John P. Surma said: "Total reportable segment and Other Businesses operating results of $47 million
reflect the effects of the ongoing lockout at our Lake Erie Works and a deceleration in global economic growth during the quarter. Our plants operated well even with increased repairs and
maintenance costs." The $47 million, or $9 per ton, of reportable segment and Other Businesses income from operations for the second quarter of 2013 compares to income from operations of $94
million, or $17 per ton, in the first quarter of 2013 and income from operations of $330 million, or $61 per ton, in the second quarter of 2012.
Second quarter results for our European segment declined compared to the first quarter due to higher iron ore costs and lower average realized euro-based prices. A
general price deterioration in the spot market occurred during the second quarter due to the completion of the service center and distributor restocking experienced in the first quarter. Total
shipments were comparable to the first quarter.
Top managers in production plants
During a recent two-day business trip in Kosice, guests from Pittsburgh not only met with the company executives but also visited some production plants. On
Wednesday, July 17, the group was accompanied by the United States Steel Corporation President and Chief Operating Officer Mario Longhi, Senior Vice President - European Operations and Global
Safety and President - U. S. Steel Kosice George F. Babcoke, Vice President - Innovation and Continuous Improvement David J. Rintoul, Vice President and Chief Procurement Officer
Christie E. Breves and Senior Vice President and Chief Risk Officer Larry T. Brockway. The group was also joined by the Vice Presidents of U. S. Steel Kosice. Representatives of the
corporation were mostly interested in the progress of the planned repairs on blast furnace no. 2 and also visited the finishing lines.
Unique opportunity for steel-makers and their families
In September, U. S. Steel Kosice together with other partners is opening an entertainment / technical centre called Steel Park. This is a result of active
cooperation between the steelworks in Kosice and three education and research institutions - the University of Pavol Jozef Safarik in Kosice, the Slovak Academy of Sciences and the Technical
University of Kosice. Steel Park will draw visitors - mostly children above 7 years of age - into a world of steel.
Visitors will experience a "steel story", from the mining of raw materials, rolling sheet steel to final products, automobiles. The exhibition will among other
things also offer a chance to play in an interactive sandpit, operate an elevating cabin or walk up a magnetic ramp. On an area of 800 m2 children will have more than fifty interactive
attractions at their disposal. Steel Park is going to be opened to the public on the September 2, but steelmakers with their families have a unique opportunity to visit it one week sooner during
a trial run from August 26 to August 30. Registration will be possible on the intranet after August 1.