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Show Seven Hundred Million Goes Into Steel Plants j New York,- December 7 "United States Steel corporation is engaged in the greatest plant expansion project proj-ect in its history, costing more than $700,000,000 about two-thirds of which is for account o'f the United States government," Irving S. Olds, chairman of the board of directors, United States Steel corporation, said today in a statement reviewing accomplishments of the corporation and subsidiary companies during the first year of the war. New steel producing or finishing units near Pittsburg, Chicago, Cleveland, Cleve-land, Birmingham, Duluth, War-cester, War-cester, Mass., Provo, Utah, and on the west coast are being pushed to completion night and day by thousands thous-ands of workers. Most o'f these units will go into production during the first half of 1943. A major part of the new facilities is being erected by U. S. Steel for the ac-j ac-j count and at the expense o'f the government. For the remainder, the corporation is using its own 'funds. "The vast steel expansion now being carried on by U. S. Steel and other steel companies in accordance ac-cordance with the ' wishes . of the federal govenment," Mr. Olds said, "should insure, upon its completion, the supply of steel required for a war on various fronts." "There must be no relaxation of American industry's all-out war production effort,'' Mr. Olds added. "The record of U. S. Steel's contribution con-tribution to the war effort since Pearl Harbor has been most creditable, credit-able, but we must not be content with past accomplishments. In the days ahead, we must work even harder to attain the steel production produc-tion needed to win the war." Reviewing Re-viewing the corporation's production produc-tion figures, Mr. Olds stated that more than 1,000 new production records have been established since Pearl Harbor by U. S. Steel subsidiaries. sub-sidiaries. As instances of outstanding performances, per-formances, the U. S. Steel chairman cited the delivery of 24 destroyers, 2 cruisers, and many merchant ships, tankers, and auxiliary vessels, the invention and production o'f portable steel runways for airplanes, an accelerated ac-celerated method o'f spinning bomb casnigs, completion in four months of 550 miles of pipe for the war emergency oil pipe line, and the production in one week by a single subsidiary of a quantity of steel plates in excess to the amount required re-quired 'for the building of 7,000 General Grant tanks. Mr. Olds pointed out that U. S. Steel plants had a larger steel output than all o'f the units of Germany and Japan combined, on the basis of the latest information available. "Sharing in these production accomplishments ac-complishments are all phases of the corporation's operations,'' Mr. Olds said. "Our mines and quarries have delivered raw materials in greater quantities than ever before. The Great Lakes Fleet has made a;n outstanding record in bringing down iron ore from the Lake Superior Super-ior district. Our blast furnaces, open hearths, bessemers, and electric elec-tric 'furnances have poured out more molten metal than at any time in their history. Rolling mills and finishing mills, too, have topped all previous records." "Management and workers o'f U. S. Steel have co-operated in attaining at-taining these noteworthy production results both properly can be proud of their joint contribution during the first year of the war," Mr. Olds said. "The same is undoubtedly true of American industry in general. gen-eral. Were it not for this monumental monu-mental production effort, the assumption as-sumption of an offensive of certain fronts might not have been possible at this time. It is absolutely essential es-sential that management and. workers work-ers continue to concentrate on the one vital object of winning the war." |