OCR Text |
Show United States Steel anticipates a rising trend during 1976 $1 billion a year in IUH and l!)7f for replacement and expansion of steel, raw materials and other manufacturing operations, as well as lor pollution controls. With the nation's need for steel and ot her materials and products growing annually, U.S. Steel expects to appropriate a similar . amount in 197(5 if economic I conditions produce the volume of orders and levels of profits which can justify such spending. United States Steel anticipates a reasonable respectable year of business in HI7 staled Edgar B. Spi-er, Chairman of the U.S. Steel Corporation. The outlook for steel shipments is rapidly improving. For the full year of 1117(1, it is expected that total shipments by the domestic steel industry should reach 05 million tons. This compares with about HO million tons shipped during 1975 and would increase steel shipments to levels above those experienced just before the 197:5-74 period when the demand of steel outran the domestic supply. Demand has been rising for the products and services of U.S. Steel's non-steel business and should continue to increase as the recovery moves ahead. Orders for certain energy-related energy-related products are so heavy that the corporation's facilities are booked through 1978. For its own capital improvements im-provements program, Steel authorized an average of nearly |