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Show 19SS Sunday, February 28, ' " 7""-- O ; . ' s ' r i . I I vO .i f; ; i j- f -- . . . " . i .. v..- ; , - " ! i- ' V,.- - r; ? r - - . -- v., I :y lv ! - .'- - . '' ' ; . v s- -. . V..,,.-- ' "V- ' ; 1 i tl . . ,! ' . ..-- - , , 1 i - ", ; 1- ii 1111 v-W- if ' r ' " -- : I ' If v ; w ' , r , . J j 3 , : t ; -v- S, .- I- - ; 1 O f 'yl rr"" J J- - -. - - Brian Tregaskis Photo G eneva Success in Tinseltown Page 3'A Attorney to the rescue ....Page 4A Preserving relics Page 5A Architectural conquests .Page 9A Living by a thread Page 11 A Golf for a good cause ...Page 13A rr ft Utah Valley high-tec- h ...Page 15A WordPerfect success ....Page 17A Progress not frozen Page 18 A Unleashing Heritage ....Page 23A Managing a paycheck... Page 26A Middle East broker Page 27A exceeds expectations, races cnaiienqes sun 10 come By PATRICK CHRISTIAN Herald Staff Writer The president of Geneva Steel said he's pleased with the efforts of the steel mill's employees and their record of productivity that he said is as high as it has ever been. "I've been doubly glad for a good steel market to go into," said Joseph Cannon, reviewing last year's performance and looking ahead to this year. But there was scant time for Geneva Steel to get a very good measure of success. After Cannon's company bought the idle USX plant and reopened it there was roughly only four months of operation in 1987. And Geneva Steel only shipped steel for the last three months of the year. But he said during that last quarter company order books were full for many of its steel products. He said last year was not without the usual start up problems. He said there was a difficulty for a while in locating enough rail cars to ship its steel out. "We are happy with 1987 even though we were only open fcur months. Morale is pretty high here I think." But Cannon said, "As day follows night, we know that at some point there will be a downturn in the steel mar- "We came of financial pressures. "We may be forced into kind of a shotgun wedding where we end up buying the mine to save our coal supply," said Cannon. He said this plant with high expectations and low costs, but costs have already started to squeeze in to alternative coal supplies us. could be as high as $30 per ton higher, or almost double. Joseph Cannon, Geneva president profits into this year, that in December they gave employees an advance g on their program. While Cannon said he beof continued profit-sharin- lieves Geneva will do well in 1988, because of strong orders into the second quarter, it is facing some outside pres- sures. Geneva Steel's president said that in September the other materials needed to produce steel. "Scrap iron is a killer," said Cannon. It is now almost double what it was a short time ago because so much scrap is being exported overseas. He said steel can't be produced without scrap, but to minimize the amount needed at Geneva a second blast furnace has been turned on to reduce the plant's demand for scrap. Geneva's coal supply is also being threatened with the possibility that the Sunny-sid- e iron-produci- "We came in to this plant with high expectations and low costs, but costs have already started to squeeze us," said Cannon. He said the downside for Geneva may be increases in the cost of coal, oxygen, and Coal Mine in Carbon County might close because ket." He said, however, it looks as though 1988 will probably pass without seeing the beginning of that sure-to-follo- w downturn. Acceding to Cannon, Geneva officials were so confident r 1 I u w! M f i La lie Critser I'hoto Joe Cannon says Geneva still has many challenges 1 mill shipped 93,513 tons of steel, and he said that was a remarkable accomplishment. "In the past USX shipped as much as 150,000 tons from but 120,000 went to Geneva, its Pit-C- operation. It's al really amazing that we are able to ship 93,513 tons to so many more customers that USX had," Cannon said. Cannon said productivity and man-houare as good or in some cases better than at any time in the past. And he said relationships between the company and its union workers are excellent. He said there's a possibility that Geneva Steel may open its foundry in 1988 to produce steelmaking molds for its own use and for sale. Cannon said steel is basic to the U.S. economy and said that since it is a presidential election year this may be a Dositive factor for the econo my and thus the steel indus-- " try this year. "My family and I are happy to be here in Utah County and to bring this facility back into operation. We hope it will be a contributing part of the community. "We think Utah is on the verge of a great economic growth and has a great future," Cannon said. rs -- ' |
