U.S. Steel nearer to national purchase. (Ferrous).U.S. Steel Corp., Pittsburgh, has reached a tentative agreement with Japanese steel producer NKK NKK - Narodnyi Kongress Kazakhstana (Russian: People's Congress of Kazakhstan) NKK - Nippon Kaiji Kyokai NKK - Norwegian Kennel Klub to acquire the Japanese company's 53 percent interest in National Steel, Mishawaka Mishawaka (mĭshəwôk`ə), city (1990 pop. 42,608), St. Joseph co., N Ind., on both banks of the St. Joseph River and adjacent to South Bend; settled c.1830, inc. 1899. Mishawaka's industries are closely associated with those of South Bend., Ind. The agreement, signed in mid-January, grants U.S. Steel an option to buy NKK's stake in National Steel. The option is open until June 15. Under terms of the option, National Steel, the fourth-largest integrated steelmaker in America, would merge into a newly created unit of U.S. Steel. However, U.S. Steel says it will exercise its option to acquire National Steel until a number of conditions are met, including some demands made upon the federal government concerning legacy cost relief and the imposition of import tariffs. NKK and U.S. Steel are also discussing a possible alliance to support Japanese carmakers' operations in North America. National Steel operates facilities in Portage 1, 2 pôr`təj; 3 pôr`tĭj). 1 Town (1990 pop. 29,060), Porter co., NW Ind., a suburb of Gary, on Lake Michigan; inc. 1959. The town, which was once surrounded by great industries, manufactures steel and a number of other goods. It is also a shipping center; Burns International Harbor, built in the 1970s, accommodates ocean vessels. Indiana Dunes National Lakeshore (see National Parks and Monuments, table) is nearby., Ind., Granite City, Ill., and Ecorse Ecorse (ē`kôrs), industrial city (1990 pop. 12,180), Wayne co., SE Mich., on the Detroit River; settled c.1815, inc. as a city 1941. Rolled and sheet metal, packaging, and meat processing are the chief industries, but the city has suffered from the economic and population decline of the surrounding region., Mich. |
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