International Steel Group
Encyclopedia
International Steel Group was a steel
company headquartered in Cleveland, Ohio
. In 2004 it was ranked #426 on the Fortune 500
. It was created after the turn around fund, WL Ross & Co. LLC
, purchased LTV Steel
in February 2002. It was acquired by Mittal Steel
in 2005 which merged with Arcelor
to become the world's largest steel company, ArcelorMittal, in 2006.
Steel
Steel is an alloy that consists mostly of iron and has a carbon content between 0.2% and 2.1% by weight, depending on the grade. Carbon is the most common alloying material for iron, but various other alloying elements are used, such as manganese, chromium, vanadium, and tungsten...
company headquartered in Cleveland, Ohio
Ohio
Ohio is a Midwestern state in the United States. The 34th largest state by area in the U.S.,it is the 7th‑most populous with over 11.5 million residents, containing several major American cities and seven metropolitan areas with populations of 500,000 or more.The state's capital is Columbus...
. In 2004 it was ranked #426 on the Fortune 500
Fortune 500
The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks the top 500 U.S. closely held and public corporations as ranked by their gross revenue after adjustments made by Fortune to exclude the impact of excise taxes companies collect. The list includes publicly and...
. It was created after the turn around fund, WL Ross & Co. LLC
Wilbur Ross
Wilbur L. Ross, Jr. is an American investor known for restructuring failed companies in industries such as steel, coal, telecommunications, foreign investment and textiles. He specializes in leveraged buyouts and distressed businesses. In 2011, Forbes magazine listed Ross as one of the world's...
, purchased LTV Steel
Ling-Temco-Vought
Ling-Temco-Vought was a large U.S. conglomerate which existed from 1969 to 2000. At its peak, its component parts were involved in the aerospace industry, electronics, steel manufacturing, sporting goods, the airline industry, meat packing, car rentals and pharmaceuticals, among other...
in February 2002. It was acquired by Mittal Steel
Mittal Steel Company
Mittal Steel Company N.V. was one of the world's largest steel producers by volume, and also one of the largests in turnover. The company is now part of ArcelorMittal....
in 2005 which merged with Arcelor
Arcelor
Arcelor S.A. was the world's largest steel producer in terms of turnover and the second largest in terms of steel output, with a turnover of €30.2 billion and shipments of 45 million metric tons of steel in 2004...
to become the world's largest steel company, ArcelorMittal, in 2006.
History
- 2002: ISG purchased the assets of Acme Steel and LTVLing-Temco-VoughtLing-Temco-Vought was a large U.S. conglomerate which existed from 1969 to 2000. At its peak, its component parts were involved in the aerospace industry, electronics, steel manufacturing, sporting goods, the airline industry, meat packing, car rentals and pharmaceuticals, among other...
's integrated steel assets. - 2003: ISG acquired the Bethlehem Steel CorporationBethlehem SteelThe Bethlehem Steel Corporation , based in Bethlehem, Pennsylvania, was once the second-largest steel producer in the United States, after Pittsburgh, Pennsylvania-based U.S. Steel. After a decline in the U.S...
and U.S. SteelU.S. SteelThe United States Steel Corporation , more commonly known as U.S. Steel, is an integrated steel producer with major production operations in the United States, Canada, and Central Europe. The company is the world's tenth largest steel producer ranked by sales...
’s Gary plate mill. - 2004: ISG purchased the assets of Weirton Steel, Georgetown Steel, and HBI's facility in Trinidad and TobagoTrinidad and TobagoTrinidad and Tobago officially the Republic of Trinidad and Tobago is an archipelagic state in the southern Caribbean, lying just off the coast of northeastern Venezuela and south of Grenada in the Lesser Antilles...
. - 2005: Completed merger with Mittal SteelMittal Steel CompanyMittal Steel Company N.V. was one of the world's largest steel producers by volume, and also one of the largests in turnover. The company is now part of ArcelorMittal....
on April 5. - 2006: Mittal completed merger with ArcelorArcelorArcelor S.A. was the world's largest steel producer in terms of turnover and the second largest in terms of steel output, with a turnover of €30.2 billion and shipments of 45 million metric tons of steel in 2004...
.
External links
- Official site for International Steel Group via the Internet ArchiveInternet ArchiveThe Internet Archive is a non-profit digital library with the stated mission of "universal access to all knowledge". It offers permanent storage and access to collections of digitized materials, including websites, music, moving images, and nearly 3 million public domain books. The Internet Archive...
Wayback MachineWayback MachineThe Wayback Machine is a digital time capsule created by the Internet Archive non-profit organization, based in San Francisco, California. It is maintained with content from Alexa Internet. The service enables users to see archived versions of web pages across time, which the Archive calls a "three... - ArcelorMittal Group