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LTV STEEL UNVEILS PLANS FOR NEW CLEVELAND CONTINUOUS SLAB CASTER

 LTV STEEL UNVEILS PLANS FOR NEW CLEVELAND CONTINUOUS SLAB CASTER
 CLEVELAND, Jan. 2 /PRNewswire/ -- LTV Steel today announced plans to build a new $312 million continuous steel slab casting complex at its Cleveland Works, the largest flat rolled steel plant in North America. The new twin-strand caster, with an annual capacity of 2 million tons is a major component in the company's long-range strategic plan for a viable, globally competitive steel business.
 "Construction of the new casident of LTV Steel.
 "In addition to the caster," Kelly said, "a ladle metallurgy facility will be built and improvements will be made to the 80-inch hot strip mill designed to enable LTV Steel to respond to the ever-increasing quality requirements of our pipe and tube, appliance, service center, construction and automotive customers," he said.
 The new Cleveland caster will replace the current ingot-casting method which requires extensive handling and reheating, as well as a separate rolling operation to produce a steel slab suitable for flat rolled steel sheets.
 Kelly explained that the market for ingot-cast steel is shrinking rapidly because customers now require continuously cast steel for more applications. Demand for ingot steel has declined to the extent that the Cleveland Direct Rolling Complex could be closed unless the caster is installed.
 "Installation of the caster also will create a steelmaking and hot rolling complex unique to North America," said Kelly.
 The new caster will interface with the existing Direct Rolling operations, with steel slabs being cast in sequence with the rolling schedule of the 80-inch hot strip mill. Slabs, still red hot from the casting process, will enter the hot strip mill without the extensive handling and reheating required by other conventional slab casting operations, thereby reducing operating costs.
 The company has entered into an agreement with Mannesmann-Demag Corporation for construction of the caster; ladle metallurgy and reheat facility. Completion is scheduled for mid-1994.
 The slab caster will be capable of producing two continuous strands of steel nine inches thick and from 24 to 63 inches wide. The ladle metallurgy facility will provide precise control of the temperature of the molten steel produced at the existing Basic Oxygen Furnace shop, and in refining non-alloy, micro-alloy and alloy steels with carbon contents ranging from 04/08 to 20/28
 "Construction of the caster-Direct Hot Charge Complex in Cleveland has several distinct competitive strengths," said Kelly. "It is located in the geographic center of LTV Steel's primary markets, the plant layout uniquely supports the hot charge process, and Cleveland has an experienced, quality-conscious work force," said Kelly.
 LTV Steel has requested that the city of Cleveland grant limited tax abatement to portions of the caster project not currently covered by an existing abatement agreement.
 "Installation of the caster and its related equipment will preserve 2,200 valuable manufacturing jobs at the Cleveland Works, which currently employs 6,500 people," Kelly said.
 LTV Steel is the nation's third-largest integrated steelmaker and a leader in the production of high-quality engineered steel products for demanding applications. The company is a wholly owned subsidiary of The LTV Corporation (NYSE: QLTV) , a diversified operating company also involved in the aerospace defense and energy business.
 -0- 1/2/92
 /CONTACT: Mark R. Tomasch of LTV Steel, 216-622-4635/
 (QLTV) CO: LTV Steel ST: Ohio IN: MNG SU: PDT


LC -- CL008 -- 6202 01/02/92 13:59 EST
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Date:Jan 2, 1992
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