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Concept
U.S. Steel
Summary
United States Steel Corporation, more commonly known as U.S. Steel, is an American integrated steel producer headquartered in Pittsburgh, Pennsylvania, with production operations primarily in the United States of America and in Central Europe. The company produces and sells steel products, including flat-rolled and tubular products for customers in industries across automotive, construction, consumer, electrical, industrial equipment, distribution, and energy. Operations also include iron ore and coke production facilities.
It was the 8th largest steel producer in the world in 2008. By 2018, the company was the world's 38th-largest steel producer and the second-largest in the United States behind Nucor Corporation. Though renamed USX Corporation in 1986, the company was renamed United States Steel in 2001 after spinning off its energy business, including Marathon Oil, and other assets, from its core steel concern.
J. P. Morgan formed U.S. Steel on March 2, 1901 (incorporated on February 25, 1901), by financing the merger of Andrew Carnegie's Carnegie Steel Company with Elbert H. Gary's Federal Steel Company and William Henry "Judge" Moore's National Steel Company for billion today). At one time, U.S. Steel was the largest steel producer and largest corporation in the world. It was capitalized at billion today), making it the world's first billion-dollar corporation. The company established its headquarters in the Empire Building at 71 Broadway in New York City; it remained a major tenant in the building for 75 years. Charles M. Schwab, the Carnegie Steel executive who originally suggested the merger to Morgan, ultimately emerged as the new corporation's first President.
In 1907, U.S. 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.
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