U.S. Steel’s (X) Mon Valley Works mill has been hit by fires and millions in regulatory fines, Bob Tita of The Wall Street Journal reports. Plans for a $1.2B upgrade were abandoned and analysts believed the mill would eventually close. Now, Mon Valley Works mill, along with a collection of aging plants alongside the Monongahela River, are taking a central role in Nippon Steel’s (NPSCY) $14.1B deal to acquire U.S. Steel. Union workers staffing these mills have accused executives of turning their backs on plants that have served the company for over a century and leaders of the union are now opposing Nippon Steel’s planned takeover, claiming the deal could lead to further underinvestment in the plants.
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