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NATIONAL STEEL PELLET COMPANY TO IDLE PLANT

 KEEWATIN, Minn., Oct. 18 /PRNewswire/ -- National Steel Pellet Company, a subsidiary of National Steel Corporation (NYSE: NS), announced today that it plans to idle its iron ore mining and pelletizing operation here.
 The facility has been closed since Aug. 1, because of a strike by the United Steelworkers of American (USWA).
 National said the facility is being idled because it was unable to reach agreement on a new contract with USWA Local 2660 by the midnight, Oct. 15, deadline for the company to sign a long-term interruptible power contract. That contract would have significantly lowered the power costs for the company but would have committed it to purchase power on a take-or-pay basis for the next six years.
 National emphatically denied weekend charges by the USWA that it had failed to bargain in good faith to settle the strike and that it had never planned to sign the power contract, which would lower the facility's production costs.
 The company expressed its appreciation to government officials and agencies, utilities, transportation companies and other suppliers for their efforts to help the company cut its costs.
 National Steel Pellet Company employs approximately 600 hourly workers and 110 salaried employees at the Keewatin facility.
 -0- 10/18/93
 /CONTACT: media, Robert R. Toothman, 412-391-1469, or 219-273-7552, or analysts, Joseph A. Rainis, 219-273-7158, of National Steel/
 (NS)


CO: National Steel Pellet Company; National Steel Corporation ST: Minnesota IN: MNG SU:

CD-KC -- PG018 -- 3626 10/18/93 17:42 EDT
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Publication:PR Newswire
Date:Oct 18, 1993
Words:244
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