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USWA: UNION STEPS UP CAMPAIGN AGAINST ARMCO STEEL PLAN

 PITTSBURGH, April 15 /PRNewswire/ -- The United Steelworkers of America stepped up its campaign against the management plan at Armco Steel LP today, announcing it would push for the formation of an oversight committee at the April 23 shareholders' meeting of Armco, Inc. (NYSE: AS).
 The oversight committee would be composed of equal members of Armco, Inc. management, shareholder representatives and the unions at Armco Steel LP. The committee would be charged with evaluating the current business plan at Armco Steel LP, posing alternatives to it, and reporting back to the board of directors.
 In a communication to shareholders, dated April 13, David Foster, director of District 33, United Steelworkers of America, cited several examples of Armco Steel LP's mistaken management. He labeled these examples as "reckless and ill-advised."
 The United Steelworkers of America indicated that dozens of representatives of Armco, Inc. and Armco Steel LP local unions would be in attendance at the April 23 shareholders' meeting to insist that the oversight resolution be debated and acted upon.
 Among the objectionable decisions cited by Foster were Armco Inc.'s refusal to meet with union leaders, refusal to join with other industry leaders in early contract talks and the possible loss of business associated with the closure of the Ashland, Ky., tandem mill.
 In an earlier communication, Foster detailed to shareholders his belief that the business plan proposed by Armco Steel LP's CEO, Tom Graham, was composed of the same failed elements of Graham's management program at USX during the mid-1980s.
 Foster urged shareholders to take decisive action rather than see their investment damaged by a discredited program that had cost USX and other steel companies billions of dollars.
 -0- 4/14/93
 /EDITORS: For text of the letter to shareholders, contact USWA Communications, 412-562-2442./
 /CONTACT: United Steelworkers of America, 218-722-2869/
 (AS)


CO: United Steelworkers of America; Armco Steel LP; Armco, Inc. ST: Pennsylvania, Kentucky IN: MNG SU:

KC-EF -- PG004 -- 6049 04/15/93 09:17 EDT
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Publication:PR Newswire
Date:Apr 15, 1993
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