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The steel industry of the future will be far different
from the steel industry of today. Technological advances and
the opening of global markets have already made the
traditional steel industry paradigms obsolete. By not
allowing the past to restrict our view of the future, LTV is
adopting new technologies and business practices to remain
an industry leader for the long-term future.
Globalization
In 1995, less than 7 percent of all U.S.-produced steel was
exported. This indicates tremendous room for growth. While
we currently supply flat rolled steel to our U.S. customers
with foreign operations, and we also serve many foreign
automakers operating in the U.S., these efforts will expand
further:
- All of our flat rolled steel and tin mill plants are
now certified under the International Standards
Organization's ISO 9000 program, giving us the tools
necessary to compete more effectively in the global
market.
- Currently we operate two international liaison
offices in Tokyo and Mexico City. We will open offices in
more markets as we grow.
- We will continue to aggressively pursue international
joint ventures that give us a competitive edge in foreign
markets. For more on LTV joint ventures in the U.S. and
abroad, see Joint
Ventures.
Flexibility
in Process
The steel industry has become extremely competitive, and LTV
is determined to stay a step ahead by not limiting ourselves
in any way. An excellent example of this type of thinking is
the Trico Steel Company, our
joint venture with
Sumitomo Metal Industries, Ltd. of Japan and British Steel
plc. Opening in early 1997, this flat rolled minimill plant
in Decatur, Alabama, will serve the expanding hot rolled
steel market in the southeastern U.S. More important, it
signals our intention to fight the competitive attack on our
core business by the new breed of flat rolled minimills.
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