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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.
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 1889, the facility merged with three other steel mills to form a new company called Illinois Steel, which later became part of Federal Steel. [1] By 1901, the company was under the control of US Steel. [1] By 1951, the South Works boasted 11 blast furnaces, 8 electric furnaces, and 12 rolling mills, and employed some 15,000 employees. [2] At ...
The original incorporators were Peter Frantz (1868–1949), Clarence Lahman (1862–1947), John Lahman, and William Lahman. On January 12, 1911, the Company re-organized and changed its name to The Frantz Manufacturing Company. [1] Frantz was established in Sterling, Illinois which was once known as "The Hardware Capital of the World".
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The Illinois Steel Company was founded in 1889 following the consolidation of three companies; The North Chicago Rolling Mill Company had plants in Chicago, South Chicago, Chicago (1880), and Milwaukee, Wisconsin (1868), The Union Iron Company (1863) of Chicago and the Joliet Steel Company (1870) were also involved in the merge.