LUKENS ANNOUNCES OCTOBER SHIPMENTS
LUKENS ANNOUNCES OCTOBER SHIPMENTS COATESVILLE, Pa., Nov. 5 /PRNewswire/ -- Lukens Steel Co. today
announced that it had surpassed expectations for steel shipments during the first five weeks of the steelworkers' strike that began Oct. 1 and which now enters its sixth week.
Lukens Steel president and chief operating officer Robert Schaal said, "We shipped a total of about 48,000 tons of plate steel during the five-week period, an amount equal to 75 percent of pre-strike average shipments." During the five-week period, Lukens had new orders totaling 49,000 tons." This is exceptional during a strike period," Schaal said. "We said on October 7 that we planned to keep the business operating to meet our customers' needs. We are extremely grateful to our customers, who have responded by supporting us with this amount of new business." Lukens last week added a second shift at most production facilities in Coatesville. "The second-shift operation should enable the Coatesville facility to break even in November and allow Lukens Steel to generate a positive cash flow for the month," Schaal said. The Coatesville mill is now being operated by about 590 workers, of which about 240 are temporary workers. Lukens plans to operate the Coatesville plant on a three-shift-per-day schedule by December. In response to statements made by Lynn Williams, USWA president, and USWA officials, charging Lukens with falsifying production and shipment reports, Schaal said, "In addition to the fundamental requirement of keeping shareholders informed during this period, as a public company, all of the statements we make are governed by laws that mandate accurate and complete disclosure to the investing public." Lukens was informed by the federal mediator that a meeting scheduled for Tuesday, Nov. 5, has been delayed until Wednesday, Nov. 6, at the request of the steelworkers' union. /delval/ -0- 11/5/91 /CONTACT: W. Evelyn Walker of Lukens, 215-383-2504/ (LUC) CO: Lukens Steel Co. ST: Pennsylvania IN: MNG SU: JS -- PH009 -- 1159 11/05/91 10:20 EST
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|Date:||Nov 5, 1991|
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