Armco, Cyclops study linking two steel plants

March 06, 1992|By Ross Hetrick | Ross Hetrick,Staff Writer

Armco Inc. and Cyclops Industries Inc., two companies that are poised to merge, are studying linking Armco's Baltimore operation with that of Cyclops' plant in suburban Pittsburgh.

Such a combination is seen as a way of bolstering the two struggling operations. But executives at the two companies said it was too early to say what form the arrangement would take or how it would affect the Baltimore work force.

A union official in Maryland, however, said linking the two plantscould mean fewer jobs at the Baltimore plant in exchange for a healthier operation.

The study involves the Armco subsidiary Baltimore Specialty Steels Corp. and Cyclops' Bridge- ville, Pa., operation. Both plants make stainless-steel products, and both have been shrinking their operations in recent years.

Armco, a stainless-steel company based in Parsippany, N.J., agreed in September to purchase Pittsburgh-based Cyclops for $156 million in cash and stock.

Robert E. Hein, president of Baltimore Specialty Steels, will be coordinating the study.

Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.