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VIABILITY PLAN FOR McLOUTH

 TRENTON, Mich., Dec. 15 /PRNewswire/ -- Russell N. Stroud, president, McLouth Steel, today issued the following statement:
 McLouth Steel management, employees and suppliers have been working together to develop a strategic plan which will ensure the long-term viability of McLouth.
 The plan encompasses temporary wage concessions and continued supplier assistance through April of 1993. The financial plan that was developed will be a major step in building the foundation for our banks to continue financing for 1993. The plan also allows for the needed effect of the Thyssen technical and marketing agreement with McLouth to be implemented.
 The actions taken by McLouth, though difficult for suppliers as well as employees, are necessary steps to ensure customers that the company has long-term staying power. The actions taken by the company will require short-term sacrifices by all parties involved in order to achieve long-term viability. A key portion of the strategic plan focuses on continuing to upgrade machinery and quality levels.
 -0- 12/15/92
 /CONTACT: Betty Gorski of McLouth Steel, 313-246-4002/


CO: McLouth Steel ST: Michigan IN: MNG SU:

ML -- DE021 -- 7289 12/15/92 14:34 EST
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Publication:PR Newswire
Date:Dec 15, 1992
Words:186
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