LTV Steel Asks To Shut Down Operations

C

LEVELAND (AP) -
Cleveland-based steelmaker LTV Corp
.
is asking the U
.
S
.
Bankruptcy Court for permission to halt its
integrated steel operations and to get ready to sell them.

The company told the court today that it no longer has enough

money to operate its integrated steel facilities.

LTV's steel mills in Cleveland and Indiana Harbor would be

affected by the plan.

The company says that it wants permission to reject labor

agreements and take other actions necessary to idle the mills and
prepare them for sale.

LTV filed for bankruptcy court protection from creditors on

Dec
.
29. It blamed competition from cheap imports and a sluggish economy.

The proposal to halt operations excludes the company's LTV

Copperweld unit.

LTV is the nation's third-largest integrated steelmaker,

operating in 17 states, Canada and Britain.

(Copyright 2001 by The Associated Press. All Rights Reserved.)