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ARMCO TO PROCEED WITH THIN-SLAB CASTER AT MANSFIELD PLANT

 PARSIPPANY, N.J., Aug. 31 /PRNewswire/ -- Armco Inc. (NYSE: AS) announced today that its board of directors had given final approval to install a new $100 million thin-slab caster at the company's flat-rolled carbon steel facility in Mansfield, Ohio.
 As a result of the approval, labor agreements ratified in late June by United Steelworkers in Mansfield and Dover, Ohio, will become effective Sept. 1, 1993. Company officials said they were satisfied that other commitments from state and local governments and the utility would be met and also were confident of completing the necessary financing arrangements.
 Armco's Chairman and Chief Executive Officer, Robert L. Purdum, said "We are eager to implement this piece of our strategy. Not only should the new thin-slab caster make Mansfield's carbon flat-rolled business competitive, its capability of producing certain stainless and electrical steels will give Armco greater flexibility in meeting competitive threats to our core specialty steel business."
 Chuck Kennedy, president of Empire-Detroit, said, "All of us at Empire-Detroit are delighted that the project is proceeding. We now have a unique opportunity to make Mansfield and Dover the industry's first successful, unionized, mini-mill operation. Our task is two-fold: we must order equipment and begin the building process, but at the same time, we must continue to reduce the costs of our existing operations, " Kennedy added.
 Empire-Detroit Steel produces carbon and stainless steels at its Mansfield plant and operates a galvanizing plant in Dover, Ohio. USWA Local 169 represents 856 hourly employees at the Mansfield plant and USWA Local 2737 represents 241 hourly employees at the Dover location. Total employment is approximately 1400.
 Armco Inc. is a leading domestic producer of stainless and electrical steels. Armco also produces carbon steels and steel products, non-residential construction products and tubular goods. Armco has joint venture interests in companies which produce stainless steels, carbon flat-rolled steels and oil field equipment.
 -0- 8/31/93
 /CONTACT: James A. Herzog of Armco, 201-316-5276/
 (AS)


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

WB -- NY034 -- 7500 08/31/93 12:22 EDT
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Publication:PR Newswire
Date:Aug 31, 1993
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