Brief History Of Trouble At LTV Steel - Cleveland 19 News Cleveland, OH

Brief History Of Trouble At LTV Steel

TIMELINE

  • Dec. 29, 2000 - LTV files for Chapter 11 bankruptcy.
  • April 11, 2001 - LTV begins restructuring and announces that it intends to close its west-side mill in Cleveland.
  • July 9, 2001 - A labor agreement clears the way for LTV to continue restructuring.
  • Nov. 20, 2001 - LTV asks a bankruptcy court for their approval to cease operations.

KEY FACTS

Headquarters: Cleveland.

Operating locations: More than 50 plants in 17 states, Canada and Britain.

Employees: About 17,000. Company estimates about 100,000 people, 70,000 retirees and their dependents rely on LTV for medical benefits.

Company history: Formerly a conglomerate with interests ranging from aerospace to pharmaceuticals, LTV entered the steel business in 1968 when it acquired Jones & Laughlin Steel; it added adding Youngstown Sheet and Tube in 1978 and Republic Steel in 1984. All three were combined into LTV Steel. In Cleveland, LTV Steel now sits on former Republic and J&L properties. Bankruptcy in 1986. Reorganized and came out of bankruptcy in 1993. Filed for bankruptcy protection again on Dec. 29.

(Copyright 2001 WorldNow. All rights reserved. The Associated Press contributed to this story. This material may not be published, broadcast, rewritten, or redistributed.)

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