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Show OUTLOOK BRIGHT FOR GENEVA SAYS PRESIDENT During the first two years operation oper-ation of the Geneva steel plant under the ownership of U. S. Steel Corp., it has exceeded the most optimistic expectations from a production standpoint and the outlook out-look for a continuing high production pro-duction level is much, better than it was when the plant was purchased pur-chased on June 18, 1946. That was the appraisal of Dr. Walther Mathesius, president of Geneva Steel Co., on the second anniversary of the purchase of the facility from the U. S. government. govern-ment. "The plant," said Dr. Mathesius, "has demonstrated its ability to produce in accordance with the plan on which it was built. Its products have won acceptance of the trade on a basis of quality. It has served to bring about a geographical equalization of steel prices. The expansion of established establish-ed fabricating plants and announcements an-nouncements of plans for new plants have given Geneva greater assurances of a continuing market mar-ket for its products than it had two years ago. The pay roll of Geneva Steel Co. (including the Ironton plant, coal and ore mining) is running at the rate of $19,000,000 per year and total employment is just under 6000. Conversion Program A conversion and improvement program, for which more than $20,000,000 has been appropriated, is under way. The chief item is conversion of the plate mill to the production of hot rolled coils and this is now approximately 30 completed. Dr. Mathesius said plans call for the rolling of some coils before the end of this calendar calen-dar year. The hot rolled coil production will be used to supply Columbia Steel Co.'s new cold reduction mill at Pittsburgh. Cal., and another one scheduled for construction in Los Angeles. The Pittsburgh plant is already making some test rolls and will operate on coils from the east and Birmingham, Ala., areas until the Geneva conversion job is completed. Coal supplies on hand are adequate ade-quate to carry the plant over the 10-day coal mine holiday this month but are not adequate to prevent a rapid production curtailment cur-tailment in the event of another coal strike, a company spokesman said. 90 Per Cent Utah Coal The company is currently using 90 Utah coal for coke making. To this is being added about 8 Oklahoma coal and 2 pitch to improve coking qualities. |