US News U.S. Steel Warns of Plant Closings if Sale Collapses

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Company says it might move headquarters out of Pittsburgh if Nippon Steel can’t complete $14.1 billion purchase

U.S. Steel says it may have to move its headquarters from Pittsburgh and thousands of union jobs could be at risk if its sale to the Japanese company Nippon Steel fails.

President Biden has promised to keep U.S. Steel an American company, a position echoed by both presidential nominees Vice President Kamala Harris and former President Donald Trump. But in a press release Wednesday, the company warned that the sale falling through could detrimentally impact Pittsburgh and the American steel industry.

While elected leaders and the United Steelworkers union have opposed the deal, the company says some employees will be rallying in support of the sale at the U.S. Steel Tower in Pittsburgh on Wednesday.

"Today's rally is about displaying support for the transaction with Nippon Steel. We want elected leaders and other key decision makers to recognize the benefits of the deal as well as the unavoidable consequences if the deal fails," said U.S. Steel CEO David Burritt in a news release.

www.cbsnews.com

U.S. Steel warns Pittsburgh headquarters and thousands of jobs are in jeopardy without sale to Nippon

U.S. Steel says it may have to move its headquarters from Pittsburgh if its sale to the Japanese company Nippon Steel fails.
www.cbsnews.com www.cbsnews.com
 
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