Von Spreckelsen

Blaming increased costs for raw materials and labor, the Sparrows Point steel plant of Bethlehem Steel Corp., is planning to raise the price tag on its wares over the next two months.Like many of the nation's big steelmakers, Bethlehem Steel has seen demand for its steel products generally lag behind last year's robust levels.At the same time, as the economy continues to soften, Bethlehem's production costs for raw material and energy have risen."We've indicated [to our customers] that the reasons for the increases are our own production prices going up for raw materials, and some increases in labor," said Bethlehem spokesman Henry Von Spreckelsen yesterday.

Bethlehem Steel Corp.'s Sparrows Point shipyard has been awarded its second major ship repair job this fall, a $33.7 million contract that should keep all 1,200 of its workers employed at the yard for at least six months.The contract, announced yesterday, means BethShip should be able to retain the 600 employees who were recalled to the yard in October to work on a similar contract, according to Bethlehem spokesman Henry Von Spreckelsen. Another 600 have been working on other jobs at the Baltimore County site.

Weaker-than-expected demand for sheets of steel has sparked Bethlehem Steel Corp. to partially back away from its previously announced price increase.Company spokesman Henry Von Spreckelsen said Bethlehem has reduced price increases to 4 percent from 8 percent. The 8 percent increase, announced three weeks ago, was to affect the sheets of steel used by automakers, appliance manufacturers and machine shops.Industry experts said they expect other steel producers to also cut back pending price increases.

Even though the picket signs were ready to go, union and management officials at Bethlehem Steel Corp. yesterday planned round-the-clock negotiations in the hope of reaching an agreement before a strike deadline of midnight tonight."

Bethlehem Steel Corp.'s Sparrows Point shipyard has been awarded its second major ship repair job this fall, a $33.7 million contract that should keep all 1,200 of its workers employed at the yard for at least six months.The contract, announced yesterday, means BethShip should be able to retain the 600 employees who were recalled to the yard in October to work on a similar contract, according to Bethlehem spokesman Henry Von Spreckelsen. Another 600 have been working on other jobs at the Baltimore County site.

Cash-strapped Bethlehem Steel Corp. didn't make a payment to its pension fund in the first three months of 1992, the first quarter in nearly six years that the nation's second-largest steelmaker had not done so.Bethlehem, which has 7,000 employees and about twice that number of retirees in Maryland, has one of the nation's biggest unfunded liabilities for a pension plan -- $1.02 billion.Companies with unfunded liabilities owe more to their retirees and employees than they have set aside.PaineWebber analyst Peter Marcus said the omitted payment is "not cause for alarm, but it certainly is a warning sign" of a cash shortage.

Cash-strapped Bethlehem Steel Corp. didn't make a payment to its pension fund in the first three months of 1992, the first quarter in nearly six years that the nation's second-largest steelmaker had not done so.Bethlehem, which has 7,000 employees and about twice that number of retirees in Maryland, has one of the nation's biggest unfunded liabilities for a pension plan -- $1.02 billion. Companies with unfunded liabilities owe more to their retirees and employees than they have set aside.

Hit by a sudden downturn in steel orders, the Bethlehem Steel Corp. is expected to report its first quarterly operating loss in more than three years, steel industry experts said yesterday.Henry Von Spreckelsen, a spokesman for the Bethlehem, Pa.-based steelmaker, said yesterday that orders had held up through January despite the recession. But demand from automobile and appliance factories fell precipitously, starting in the middle of February, he said.Despite the downturn, the nation's second-largest steelmaker still expects to continue with its costly equipment-upgrading plan, expected to total $500 million in 1991, and still plans to renovate the hot strip mill at its Sparrows Point yard sometime this spring, he said.

Congress earmarked $40 million in the defense appropriation bill passed yesterday for Bethlehem Steel Corp.'s shipyard at Sparrows Point to settle a four-year-old financial dispute with the Navy regarding the construction of two ocean survey ships.In announcing the congressional action, Sen. Barbara A. Mikulski. who had requested the payment be made to Bethlehem for work performed, said that unlike the language in last year's defense bill, the payment was not left to the discretion of the Navy.

Bethlehem Steel Corp.'s Sparrows Point shipyard has won a crucial contract to build tunnel sections for a highway under Boston harbor, officials for the shipbuilders' union said last night.Murphy Thornton, president of Local 33 of the Industrial Union of Marine and Shipbuilding Workers of America, said that a company official at the yard told him late yesterday afternoon that a letter of intent with the prime contractor in the project will be signed today. "This is not gossip," he said.The union estimates the contract will mean jobs for about 550 to 600 of its members for a year and a half to two years.

Bethlehem Steel Corp. came close to breaking into the black in the second quarter as the beleaguered steelmaker announced yesterday that it posted a loss of $5.3 million -- about one-tenth the loss it suffered a year earlier.And with the trend expected to continue, Bethlehem is likely to post a profit in the current quarter, according to Curtis H. Barnette, the company's chairman and chief executive. It would be Bethlehem's first quarterly profit in three years.Bethlehem's financial recovery could be imperiled, however, if a strike begins Sunday at its two major steel operations, at Sparrows Point in Baltimore County and Burns Harbor, Ind. There is also fear among analysts that Tuesday's ruling that lifted a number of steel import duties could spur more steel imports and knock down recent domestic steel price increases.

Congress earmarked $40 million in the defense appropriation bill passed yesterday for Bethlehem Steel Corp.'s shipyard at Sparrows Point to settle a four-year-old financial dispute with the Navy regarding the construction of two ocean survey ships.In announcing the congressional action, Sen. Barbara A. Mikulski. who had requested the payment be made to Bethlehem for work performed, said that unlike the language in last year's defense bill, the payment was not left to the discretion of the Navy.

Cash-strapped Bethlehem Steel Corp. didn't make a payment to its pension fund in the first three months of 1992, the first quarter in nearly six years that the nation's second-largest steelmaker had not done so.Bethlehem, which has 7,000 employees and about twice that number of retirees in Maryland, has one of the nation's biggest unfunded liabilities for a pension plan -- $1.02 billion.Companies with unfunded liabilities owe more to their retirees and employees than they have set aside.PaineWebber analyst Peter Marcus said the omitted payment is "not cause for alarm, but it certainly is a warning sign" of a cash shortage.

Cash-strapped Bethlehem Steel Corp. didn't make a payment to its pension fund in the first three months of 1992, the first quarter in nearly six years that the nation's second-largest steelmaker had not done so.Bethlehem, which has 7,000 employees and about twice that number of retirees in Maryland, has one of the nation's biggest unfunded liabilities for a pension plan -- $1.02 billion. Companies with unfunded liabilities owe more to their retirees and employees than they have set aside.

Bethlehem Steel Corp.'s Sparrows Point shipyard has won a crucial contract to build tunnel sections for a highway under Boston harbor, officials for the shipbuilders' union said last night.Murphy Thornton, president of Local 33 of the Industrial Union of Marine and Shipbuilding Workers of America, said that a company official at the yard told him late yesterday afternoon that a letter of intent with the prime contractor in the project will be signed today. "This is not gossip," he said.The union estimates the contract will mean jobs for about 550 to 600 of its members for a year and a half to two years.

Hit by a sudden downturn in steel orders, the Bethlehem Steel Corp. is expected to report its first quarterly operating loss in more than three years, steel industry experts said yesterday.Henry Von Spreckelsen, a spokesman for the Bethlehem, Pa.-based steelmaker, said yesterday that orders had held up through January despite the recession. But demand from automobile and appliance factories fell precipitously, starting in the middle of February, he said.Despite the downturn, the nation's second-largest steelmaker still expects to continue with its costly equipment-upgrading plan, expected to total $500 million in 1991, and still plans to renovate the hot strip mill at its Sparrows Point yard sometime this spring, he said.

Even though the picket signs were ready to go, union and management officials at Bethlehem Steel Corp. yesterday planned round-the-clock negotiations in the hope of reaching an agreement before a strike deadline of midnight tonight."

Despite a $517 million fourth quarter loss, Bethlehem Steel will increase its capital spending to about $500 million during this year.The estimate for 1991 capital spending was part of the company's earnings report that was released yesterday. The company has been spending increasing amounts for new facilities and equipment, going from $304 million in 1988 to $421 million in 1989 and then to $488 million last year.The increased spending does not reflect any new initiatives, but rather projects already started, according to Bethlehem spokesman Henry Von Spreckelsen.

Despite a $517 million fourth quarter loss, Bethlehem Steel will increase its capital spending to about $500 million during this year.The estimate for 1991 capital spending was part of the company's earnings report that was released yesterday. The company has been spending increasing amounts for new facilities and equipment, going from $304 million in 1988 to $421 million in 1989 and then to $488 million last year.The increased spending does not reflect any new initiatives, but rather projects already started, according to Bethlehem spokesman Henry Von Spreckelsen.

Weaker-than-expected demand for sheets of steel has sparked Bethlehem Steel Corp. to partially back away from its previously announced price increase.Company spokesman Henry Von Spreckelsen said Bethlehem has reduced price increases to 4 percent from 8 percent. The 8 percent increase, announced three weeks ago, was to affect the sheets of steel used by automakers, appliance manufacturers and machine shops.Industry experts said they expect other steel producers to also cut back pending price increases.