Sunday, June 10, 2018

United States Steel Corporation

Since John Pierpont Morgan Sr. engineered the creation of the Unite States Steel Corporation in 1901, “Big Steel” has been archetype of “big business”. U.S Steel was the first billion-dollar company, by far the largest industrial enterprise of the time, controlled well or half the steel-making capacity in the United States. He financed the creation of the U.S Steel Corporation by purchasing the interest of steel magnate Andrew Carnegie and other steel producing industrialists.

U.S Steel began to acquire other steel, cement and mineral companies. Over the years, the company merged many times, U.S Steel Co. joined with the U.S Steel Corp. in 1953, during the 1960s, U.S Steel bought foreign plants, chemical and petroleum companies, distilleries and financial corporations.

In the 1940s, U.S Steel had over 370, 000 employees and make more steel than the combined output o Germany, Japan and Italy during World War II. By the late 198s, U.S Steel derived so many incomes from other sources that to rebranded itself as USX Corporation in 1991.
United States Steel Corporation
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