Company History: In 1963, US Steel opened their iron mine and taconite mill in Atlantic City, Wyoming. The ore moved approximately 90 miles south to a connection with the Union Pacific mainline in Winton Junction over USS’s private railroad. Presumably, the railroad also carried bentonite clay, used in the taconite process north to the mill. To power the line, a block of F units was transferred west from USS’s Bessemer & Lake Erie. These units received modifications over the years, most notably, large plows on the cab units to buck Wyoming’s abundant snow. Taconite trains moved behind 9,000 horsepower consists of six F units. Union Pacific power took over at Winton Junction and forwarded the taconite to a USS mill in Utah. Due to the changing market for steel, the mine, mill and railroad closed in 1983 (although there are reportedly another 60 years worth of ore still in the ground in Atlantic City.) The track has since been abandoned and removed.
Successor/Parent History: United States Steel Corporation (NYSE: X), more commonly known as U.S. Steel, is an American integrated steel producer headquartered in Pittsburgh, Pennsylvania, with production operations in the United States, Canada, and Central Europe. As of 2016, the company was the world's 24th largest steel producer and second largest domestic producer, trailing only Nucor Corporation.
Though renamed USX Corporation in 1986, the company returned to its present name in 2001 after spinning off its energy business, including Marathon Oil, and other assets from its core steel concern. The company experienced significant downsizing during the 1980s; a decline in market capitalization resulted in its removal from the S&P 500 Index in 2014.
From Wikipedia
Though renamed USX Corporation in 1986, the company returned to its present name in 2001 after spinning off its energy business, including Marathon Oil, and other assets from its core steel concern. The company experienced significant downsizing during the 1980s; a decline in market capitalization resulted in its removal from the S&P 500 Index in 2014.
From Wikipedia
Brief History: The U.S. is a country of 50 states covering a vast swath of North America, with Alaska in the northwest and Hawaii extending the nation’s presence into the Pacific Ocean. Major Atlantic Coast cities are New York, a global finance and culture center, and capital Washington, DC. Midwestern metropolis Chicago is known for influential architecture and on the west coast, Los Angeles' Hollywood is famed for filmmaking.
Item created by: gdm on 2022-04-28 06:51:05
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