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Lone Star Steel Company (acquired by U.S. Steel in 2007) Maanshan Iron & Steel (acquired by China Baowu in 2019) Mittal Steel Company (merged with Arcelor forming ArcelorMittal) National Steel Corporation (acquired by U.S. Steel in 2003) Northwestern Steel and Wire (reorganized and operating as Sterling Steel Company)
In 2002 it was revealed the company had underfunded the pension for employees by $44 million. [4] GS Steel derives its name from Georgetown Steel which operates a steel plant in Georgetown, South Carolina. The South Carolina and Missouri operations were combined by Bain. [7] The South Carolina plant closed in 2003.
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With the company's announcement, over 400 people were laid off, bringing the total employed to 1,503. Dec. 19, 2000 the company filed a voluntary petition for reorganization under Chapter 11 of the United States Bankruptcy Code; the company lost more than $83 million that year. On May 18, 2001, Northwestern Steel and Wire ceased operations.
In 2007, the collection was consolidated and moved to Sauget, Illinois, after the former Sterling Steel Casting foundry property was acquired for about $1 million. [4] The collection's 300,000-plus items were moved in 1,600 wooden crates of 30 cubic feet (0.85 cubic metres) [ 7 ] [ 8 ] in about 350 semi-truck loads. [ 7 ]