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ARMCO INC. TO MOVE CORPORATE HEADQUARTERS TO PITTSBURGH

 PITTSBURGH, April 7 /PRNewswire/ -- Armco Inc., a leading domestic producer of stainless and electrical steel products, today announced that it will relocate its corporate headquarters from Parsippany, N.J., to Pittsburgh late this summer.
 The relocation will put the Fortune 500 specialty steel producer closer to its customer base and key production facilities.
 "Our strategic plan is to become the recognized leader and low-cost, quality producer in the specialty steel industry," Armco Chairman and Chief Executive Officer Robert L. Purdum said. "We're focusing the 'new Armco' around our state-of-the-art stainless and electrical steel operations, and this move puts us another step closer to achieving that objective."
 Mr. Purdum said the company decided to move the corporate headquarters to Pittsburgh because the city is geographically centered near Armco's largest specialty steel operations, including its stainless and electrical flat-rolled steel facility in Butler, Pennsylvania.
 "Another key element of our strategy is to further strengthen customer relationships," Mr. Purdum said, noting that "Pittsburgh puts us much closer to a substantially larger portion of our customer base."
 "Our action, in taking this move, further demonstrates management's commitment to our customers to become the premier producer of specialty steel in quality, service, delivery and price," he said.
 The move will consolidate multi-corporate functions from Ohio, Pennsylvania, and New Jersey, beginning in late summer and continuing through the end of the year. The company anticipates that, ultimately, its Pittsburgh headquarters staff will number about 80.
 "The consolidation of functions will provide the opportunity for the corporate staff to have productive interaction with the company's operating facilities and its customers," Mr. Purdum said, "and it will improve staff efficiency."
 Mr. Purdum said Armco has narrowed its selection of office space to several Pittsburgh area locations, and expects to make a final decision in the coming weeks.
 Armco employs 11,500 men and women, and had 1992 sales of more than $2 billion. In addition to stainless and electrical steels, Armco produces carbon steels and steel products, non-residential construction products and tubular goods. Its major specialty steel markets include industrial machinery, automotive, and steel service centers and distributors.
 Armco has joint venture interests in companies that produce stainless steels, carbon flat-rolled steels, and oil field machinery and equipment.
 -0- 4/7/93
 /NOTE TO EDITORS: Armco Inc. ranks 215 in the latest Fortune 500 survey./
 /CONTACT: Ed Romanoff, 201-316-5241 and Jim Herzog, 201-316-5276, both for Armco Inc./
 (AS)


CO: Armco Inc. ST: Pennsylvania, New Jersey IN: MNG SU:

LR -- NY014 -- 3690 04/07/93 09:37 EDT
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Publication:PR Newswire
Date:Apr 7, 1993
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