Swept up: a wave of consolidation sweeps the steel industry in the aftermath of the section 201 tariff.(Ferrous Consumer Focus)

From: Recycling Today | Date: July 1, 2004| Author: | Copyright information

When President Bush passed the steel tariff, known as Section 201, one of the basic goals was for the domestic steel industry to "get its financial house in order."

In positing the tariff, the Bush Administration said that one of its goals would be to allow domestic steel companies to consolidate from a slew of ailing companies to fewer, but healthier, mills.

While the tariff was rescinded before it was scheduled to end, the impetus to consolidate caught fire.

Bill Heenan, executive director for the Steel Recycling Institute, Pittsburgh, says that while there are ...

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