U.S. Steel

Major producer of steel.

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Headquarters:
600 Grant Street
Pittsburgh, PA 15219
Employees: 38,500
CEO: Mario Longhi
Stock Symbol: X

Website: http://www.ussteel.com

Career Site

United States Steel Corporation, headquartered in Pittsburgh, is an integrated steel producer with major production operations in the United States, Canada and Central Europe and an annual raw steelmaking capability of 27 million net tons. The company manufactures a wide range of value-added steel sheet and tubular products for the automotive, appliance, container, industrial machinery, construction, and oil and gas industries.

U. S. Steel's integrated steel facilities include Gary Works, which is made up of Gary Works in Gary, IN, East Chicago Tin in East Chicago, IN, and Midwest Plant in Portage, IN; Great Lakes Works in Ecorse and River Rouge, MI; Mon Valley Works, which includes Edgar Thomson Plant and Irvin Plant near Pittsburgh, PA, and Fairless Plant near Philadelphia, PA; Granite City Works in Granite City, IL; Fairfield Works in Fairfield, AL; U. S. Steel Canada's Lake Erie Works in Nanticoke, Ontario; and U. S. Steel Kosice in the Slovak Republic. U. S. Steel is also involved in several steel finishing joint ventures in the United States, Brazil, Canada and Mexico.

U. S. Steel prides itself on being a leader in both process and product technology and has four research and development facilities dedicated to advancing the boundaries of steelmaking: the Research and Technology Center in Munhall, PA; the Automotive Center, a research and sales facility in Troy, MI.; the U. S. Steel Tubular Products Innovation and Technology Center in Houston, TX; and USSE Research in Koaice.

U. S. Steel has tubular operations in Bellville, Houston, Hughes Springs, and Lone Star, TX; Pine Bluff, AR; Fairfield, AL; Lorain, OH; and McKeesport, PA. The company also maintains tubular products sales offices in Denver, CO, Dallas and Houston, TX, and Calgary, Alberta Canada.

U. S. Steel produces coke at Mon Valley Works' Clairton Plant near Pittsburgh as well as at Gary Works, Granite City Works, Lake Erie Works, Hamilton Works and U. S. Steel Kosice. The company operates two iron ore mines through its Minnesota Ore Operations on the Mesabi Iron Range in northern Minnesota: one in Mt. Iron (Minntac) and one in Keewatin (Keetac). Both mine an iron-bearing rock called taconite and process it into concentrated iron ore pellets, which are converted to liquid iron in the company's blast furnaces.

U. S. Steel is also involved in railroad and barge transportation services through its Transtar, Inc. subsidiary and real estate operations through its USS Real Estate division.

In 2014, the company reported revenues of $17.5 billion, up from $17.4 billion the previous year, and net income of $102 million.

History

When founded in 1901, United States Steel Corporation was the largest business enterprise ever launched, with an authorized capitalization of $1.4 billion. 

U. S. Steel had its origins in the dealings of some of America's most legendary businessmen, including Andrew Carnegie, J.P. Morgan, and Charles Schwab. However, its principal architect was Elbert H. Gary, who also became U. S. Steel's first chairman. At the turn of the century, a group headed by Gary and Morgan bought Carnegie's steel company and combined it with their holdings in the Federal Steel Company. These two companies became the nucleus of U. S. Steel, which also included American Steel & Wire Co., National Tube Company, American Tin Plate Co., American Steel Hoop Co., and American Sheet Steel Co. In its first full year of operation, U. S. Steel made 67 percent of all the steel produced in the United States.

The company changed its name to USX Corporation in 1986 after becoming involved in the energy business. In 2002, the energy business was spunoff as Marathon Oil and U.S. Steel became an independent company once again.

Benefits

Health Coverage
U. S. Steel employees may choose among several health care options that are available to them and their families. The options include the Company's medical program (with Blue Cross Blue Shield coverage), dental coverage, and other health related benefits. If available in their geographic area, employees may elect alternative coverage under certain HMO plans. 
Life Insurance
U. S. Steel provides Company-paid life insurance coverage on the life of the employee to provide financial protection to the employee's family. 
401(k) Plan
Employees of U. S. Steel are eligible to participate in a 401(k) that includes provisions for pre-tax contributions, different investment options, loans, withdrawals, and transfers.
Pension
Most newly hired, represented employees are eligible to participate in the Steelworkers Pension Trust (the "SPT"), which is a multi-employer defined benefit pension plan. Under the SPT, the Company makes monthly contributions based upon a stated dollar amount multiplied times the employee's covered hours. Certain other employees participate in a defined benefit plan that is based upon the employee's final average pay or a minimum monthly pension amount. 
Newly hired, non-represented employees are eligible to participate in a defined contribution plan under which the Company makes monthly contributions based on a percentage of base compensation. The percentage depends upon the age of the participant. Certain other employees participate in a defined benefit plan that is partially based upon the final average pay of the employee. 
Vacations
The length of annual paid vacation is based upon the employee's continuous service with the Corporation and varies from one to five weeks. 
Holidays
U. S. Steel observes several paid holidays including New Year's Day, Good Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, Day after Thanksgiving Day, and Christmas Day. Although the production facilities may still operate on these days, the corporate offices are normally not open for business. 
Disability
Certain short-term and long-term disability benefits are available to employees. The benefits included vary between the different employee groups. 

Updated January 27, 2015