9/8/2023 0 Comments Steel stacks bethlehem paDuring its early years, the company produced rails for the rapidly expanding railroads and armor plating used by the U.S. A machine shop, in 1865, and another blast furnace, in 1867, were completed. The first rolling mill was built between the spring of 1861 and the summer of 1863 with the first railroad rails being rolled on September 26, 1863. Construction of the first blast furnace began on Jwas operationalized on January 4, 1863. On May 1, 1861, the company's title was changed again, this time to the Bethlehem Iron Company. On June 14, 1860, the board of directors of the fledgling company elected Alfred Hunt president. But the organization subsequently restarted, its site was moved elsewhere to South Bethlehem, and the company's name was changed to the Bethlehem Rolling Mill and Iron Company. That same year, the Panic of 1857, a national financial crisis, halted the company's further organization. In 1857, what ultimately became Bethlehem Steel, was launched as the Saucona Iron Company in Bethlehem, Pennsylvania by Augustus Wolle. History Tract of Land, issued in February 1880, for the Township of Saucon and Borough of South Bethlehem and County of Northampton containing eleven acres and 52 perches Bethlehem Steel Works, a watercolor by Joseph Pennell, depicting Bethlehem Iron Company, May 1881 The Bethlehem Steel plant in Bethlehem, Pennsylvania, photographed by William H. The company declared bankruptcy in 2001 and final dissolution in 2003 when its remaining assets were sold to International Steel Group. In 1982, however, the company suspended most of its steelmaking operations after posting a loss of $1.5 billion, attributable to increased foreign competition, rising labor and pensions costs, and other factors. In 1899, the owners of the iron company founded Bethlehem Steel Company and, five years later, Bethlehem Steel Corporation was created to be the steelmaking company's corporate parent.īethlehem Steel survived the earliest declines in American steel industry beginning in the 1970s. īethlehem Steel's roots trace to an iron-making company organized in 1857 in Bethlehem, which was later named the Bethlehem Iron Company. Historians cite Bethlehem Steel's ability to quickly manufacture warships and other military equipment as decisive factors in American victories in both world wars. Over 1,100 Bethlehem Steel-manufactured warships were built for use in defeating Nazi Germany and the Axis powers in World War II. warships and other military weapons used in World War I and later by the Allied forces in ultimately winning World War II. Among major bridges, Bethlehem steel was used in constructing the George Washington Bridge and Verrazzano-Narrows Bridge in New York City, the Golden Gate Bridge in San Francisco, and the Peace Bridge between Buffalo and Fort Erie, Ontario.īethlehem Steel played an instrumental role in manufacturing U.S. Among major buildings, Bethlehem produced steel for 28 Liberty Street, the Chrysler Building, the Empire State Building, Madison Square Garden, Rockefeller Center, and the Waldorf Astoria hotel in New York City and Merchandise Mart in Chicago. The company's steel was used in the construction of many of America's largest and most famed structures. From its founding in 1857 through its 2003 dissolution, Bethlehem Steel's headquarters and primary steel mill manufacturing facilities were based in Bethlehem, Pennsylvania, in the Lehigh Valley region of the United States. At the height of its success and productivity, the company was a symbol of American manufacturing leadership in the world, and its decline and ultimate liquidation in the late 20th century is similarly cited as an example of America's diminished manufacturing leadership. Until its closure in 2003 it was one of the world's largest steel producing and shipbuilding companies. The Bethlehem Steel Corporation was an American steelmaking company headquartered in Bethlehem, Pennsylvania.
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