“After a long, collaborative relationship, U. S. Steel and (POSCO subsidiary) POSCO-California Corporation concluded that ownership of UPI by a single group represents the best opportunity for UPI to continue operating effectively and serve its customers,” U. S. Steel said.
UPI produces cold-rolled sheets, galvanized sheets and tin mill products made from hot bands principally provided by U. S. Steel.
UPI’s annual production capability is approximately 1.5 million tons.
U. S. Steel said the deal closed on Sunday. It also said that, for the moment, it plans to operate USS-POSCO as a separate entity.