WASHINGTON – U.S. Senate Majority Whip Dick Durbin (D-IL) today released the following statement regarding reports that the Japanese-based Nippon Steel Corp. has agreed to purchase U.S. Steel, the parent company of Granite City Works in the Metro East.
U.S. Steel, the Pittsburgh steel producer that played a key role in the nation’s industrialization, is being purchased by Nippon Steel in an all-cash deal valued at approximately $14.1 billion. The overall transaction is worth about $14.9 billion when including the assumption of debt.
“I’ve been fighting for years to save jobs at Granite City Works. And I’ve been troubled by announcements over the last several years about reducing production and slashing jobs at this plant. With the recent news that U.S. Steel will be purchased by Japanese-based Nippon Steel Company – despite the concerns of its workforce — even more questions and concerns are raised.
“The United States used to lead the world in production of steel, but we have fallen behind. The sale of U.S. Steel to a foreign-based company only exacerbates that problem. I will be working with local and state officials to ensure the future of this critical plant and its great workers.”
Senator Harriss Releases Statement On Potential Sale Of US Steel
State Senator Erica Harriss (56th-Glen Carbon) has released the below statement following the announcement and potential sale of US Steel to Nippon Steel Corporation:
“For me, the question of whether this potential sale is good news or not, will come down to whether it will allow Granite City steelworkers to keep their jobs. Unfortunately, our community has had hope of stability taken away before.
“I will continue to stand firmly with our workers as we monitor the situation. As your Senator, I remain committed to advocating for policies to grow and keep jobs in Illinois.”
