Printer Friendly

BETHLEHEM STEEL NEGOTIATING WITH MEMPHIS FIRM FOR SALE OF TRACKWORK FACILITY

 BETHLEHEM STEEL NEGOTIATING WITH MEMPHIS FIRM
 FOR SALE OF TRACKWORK FACILITY
 BETHLEHEM, Pa., May 11 /PRNewswire/ -- Bethlehem Steel Corporation (NYSE: BS) confirmed today that it has entered into negotiations to sell its Steelton, Pa., trackwork fabrication operations, which include the steel foundry and the frog and switch departments, to Conley Frog and Switch Co., a Memphis, Tenn., firm that has been in the trackwork business since the early 1900s.
 If the sale is consummated, Conley plans to continue operating the trackwork facilities in Steelton.
 Bethlehem Steel announced last January that it was exiting the trackwork business, which has a work force of approximately 400 employees. Since the announcement, Bethlehem has been aggressively seeking a qualified buyer who would be able to continue the business.
 Bethlehem is working closely with its customers to assure them that their product requirements will be satisfied during the transition period.
 Divestiture of the trackwork operations is consistent with Bethlehem's strategy of concentrating its resources on its basic steel business.
 /delval/
 -0- 5/11/92
 /CONTACT: H.H. Von Spreckelsen of Bethlehem Steel, 215-694-3711/
 (BS) CO: Bethlehem Steel Corporation; Conley Frog and Switch Co. ST: Pennsylvania, Tennessee IN: MNG SU:


MP-KA -- PH020 -- 8606 05/11/92 11:54 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 11, 1992
Words:203
Previous Article:WALKER POWER EXPANDS XENON BALLAST PRODUCT LINE
Next Article:SUCCESSFUL FIELD DEVELOPMENT CONTINUES; ASDJ-NO. 8 WELL COMPLETED
Topics:


Related Articles
BETHLEHEM STEEL PROVIDES UPDATE ON STATUS OF ITS BAR, ROD AND WIRE DIVISION
BETHLEHEM STEEL ANNOUNCES AGREEMENT FOR SALE OF TRACKWORK FACILITIES
PENNSYLVANIA ANNOUNCES $1 MILLION IN FINANCING FOR PURCHASE OF BETHLEHEM STEEL CORP. STEELTON TRACKWORKS OPERATION
BETHLEHEM STEEL SIGNS LETTER OF INTENT TO SELL JOHNSTOWN ROLLING MILLS UNIT
PENNSYLVANIA ANNOUNCES LOW-INTEREST FINANCING TO SUPPORT SALE OF PORTION OF BETHLEHEM STEEL'S JOHNSTOWN PLANT
BETHLEHEM STEEL SIGNS LETTER OF INTENT FOR SALE OF BRW DIVISION, HEADQUARTERED IN JOHNSTOWN, PA.
L.B. FOSTER ACQUIRES RAIL-RELATED ASSETS OF MIDWEST CORPORATION
BETHLEHEM STEEL SIGNS PURCHASE AND SALE AGREEMENT
Bethlehem Steel Sells West Virginia Coal Mine to A.T. Massey
Bethlehem Steel Sells Equity Interest in Iron Ore Company of Canada

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters