Over the next several weeks I am going to write a bit more about Bethlehem Steel and Bethlehem, Pennsylvania (and eventually Bethlehem Steel aka Lackawanna Steel, Buffalo, NY) because so much of this Bethlehem’s story is unknown outside the area.
For now I will simply say, that at its manufacturing height, Bethlehem Steel Corporation was the United States’ second-largest steel producer and the largest shipbuilder. The plant put out steel that went into bridges, rail, locks and dams, buildings, ships, roads and airplanes around the country – and in some cases around the world.
More on that later.
The company finally went bankrupt in 2001, its’ assets sold to investment bankers in 2003 and resold in 2005. This ended American ownership of the assets of Bethlehem Steel.
Today the ghosts of Bethlehem Steel are owned by ArcelorMittal. A company owned and headquartered in India.
The loss of Bethlehem Steel economically crushed east central Pennsylvania and Buffalo – and all the businesses that did business with them, for them and near them.
So there is that, right?
I wonder where they bought the steel to build the parking garages, road improvements and buildings.