PITTSBURGH, March 12, 2015 /PRNewswire/ -- United States Steel Corporation (NYSE: X) announced today it will temporarily idle its Minnesota Ore Operations – Keetac plant in Keewatin, Minn., effective May 13. The temporary idling is due to the company's current inventory levels and ongoing adjustment of its steelmaking operations throughout North America to match customer demand.
The company routinely adjusts production at its operating facilities to reflect market fluctuations. These ongoing operational adjustments are a result of challenging market conditions that reflect the cyclical nature of the industry. Global influences in the market, including a high level of imports, unfairly traded products and reduced steel prices, continue to have an impact. As part of the temporary idling, 412 employees at Keetac have been advised of the upcoming temporary idling and are being issued notices under the Worker Adjustment and Retraining Notification (WARN) Act. The number of employees impacted will be based upon operational and, or maintenance needs.
The company will continue to produce iron ore pellets at its Minntac plant in Mt. Iron, Minn.
United States Steel Corporation, headquartered in Pittsburgh, Pa., is a leading integrated steel producer and Fortune 200 company with major production operations in the United States and Central Europe and an annual raw steelmaking capability of 24.4 million net tons. For more information about U. S. Steel, please visit www.ussteel.com.
SOURCE United States Steel Corporation