U. S. Steel to Fund Training Center with Multi-Million-Dollar Grant Following Close of Transaction with Nippon Steel
U.S. Steel has announced plans to establish a workforce training center in Western Pennsylvania through a multi-million dollar grant, contingent upon the closing of its transaction with Nippon Steel. The center will collaborate with local educational institutions and economic development organizations to support workforce development.
The initiative is designed to thank local communities for their support during the Nippon Steel transaction and acknowledges the importance of U.S. Steel's employees in driving the local economy and American steel industry. The investment from Nippon Steel will help secure facilities, particularly at the Mon Valley in Western Pennsylvania, for future generations.
U.S. Steel ha annunciato piani per stabilire un centro di formazione per la forza lavoro in Pennsylvania occidentale attraverso un finanziamento di multi-milioni di dollari, subordinato alla conclusione della sua transazione con Nippon Steel. Il centro collaborerà con istituzioni educative locali e organizzazioni per lo sviluppo economico per sostenere lo sviluppo della forza lavoro.
Questa iniziativa è concepita per ringraziare le comunità locali per il loro supporto durante la transazione con Nippon Steel e riconosce l'importanza dei dipendenti di U.S. Steel nel guidare l'economia locale e l'industria dell'acciaio americana. L'investimento di Nippon Steel aiuterà a garantire strutture, in particolare nella Mon Valley in Pennsylvania occidentale, per le generazioni future.
U.S. Steel ha anunciado planes para establecer un centro de capacitación laboral en el oeste de Pennsylvania a través de una subvención de varios millones de dólares, condicionada al cierre de su transacción con Nippon Steel. El centro colaborará con instituciones educativas locales y organizaciones de desarrollo económico para apoyar el desarrollo de la fuerza laboral.
La iniciativa está diseñada para agradecer a las comunidades locales por su apoyo durante la transacción con Nippon Steel y reconoce la importancia de los empleados de U.S. Steel en la promoción de la economía local y la industria del acero estadounidense. La inversión de Nippon Steel ayudará a asegurar instalaciones, particularmente en la Mon Valley en el oeste de Pennsylvania, para las generaciones futuras.
U.S. Steel는 Nippon Steel와의 거래 종료에 따라 수백만 달러 규모의 보조금을 통해 서부 펜실베이니아에 인력 훈련 센터를 설립할 계획을 발표했습니다. 이 센터는 지역 교육 기관 및 경제 발전 단체와 협력하여 인력 개발을 지원합니다.
이 이니셔티브는 Nippon Steel 거래 동안 지역 사회의 지원에 대한 감사를 표하며, U.S. Steel 직원들이 지역 경제 및 미국 철강 산업을 이끄는 데 얼마나 중요한지를 인정합니다. Nippon Steel의 투자는 서부 펜실베이니아의 Mon Valley에서 향후 세대를 위해 시설을 확보하는 데 도움을 줄 것입니다.
U.S. Steel a annoncé des plans pour établir un centre de formation pour la main-d'œuvre en Pennsylvanie occidentale grâce à une subvention de plusieurs millions de dollars, sous réserve de la clôture de sa transaction avec Nippon Steel. Le centre collaborera avec des institutions éducatives locales et des organisations de développement économique pour soutenir le développement de la main-d'œuvre.
Cette initiative est conçue pour remercier les communautés locales de leur soutien pendant la transaction avec Nippon Steel et reconnaît l'importance des employés de U.S. Steel dans la dynamisation de l'économie locale et de l'industrie de l'acier américaine. L'investissement de Nippon Steel contribuera à sécuriser des installations, en particulier dans la Mon Valley en Pennsylvanie occidentale, pour les générations futures.
U.S. Steel hat Pläne angekündigt, ein Ausbildungszentrum für die Arbeitskräfte in West-Pennsylvania durch einen mehrere Millionen Dollar umfassenden Zuschuss zu errichten, der von dem Abschluss ihrer Transaktion mit Nippon Steel abhängig ist. Das Zentrum wird mit lokalen Bildungseinrichtungen und Organisationen zur wirtschaftlichen Entwicklung zusammenarbeiten, um die Entwicklung der Arbeitskräfte zu unterstützen.
Die Initiative soll den lokalen Gemeinschaften für ihre Unterstützung während der Transaktion mit Nippon Steel danken und erkennt die Wichtigkeit der Mitarbeiter von U.S. Steel bei der Stärkung der lokalen Wirtschaft und der amerikanischen Stahlindustrie an. Die Investition von Nippon Steel wird dazu beitragen, insbesondere in der Mon Valley in West-Pennsylvania Einrichtungen für zukünftige Generationen zu sichern.
- Multi-million dollar investment in workforce development
- Strategic partnership with Nippon Steel securing long-term facility operations
- Commitment to maintaining employment opportunities in Western Pennsylvania
- Implementation contingent on Nippon Steel transaction completion
Insights
Made possible with investment from Nippon Steel
U. S. Steel is making this commitment to thank the local communities for supporting us as we pursue our transaction with Nippon Steel, and in recognition of the vital role our employees play to drive the local economy and the American steel industry.
This commitment will only be made possible with the investments that Nippon Steel will make in our company, securing our facilities for generations to come, especially at the Mon Valley in
We look forward to partnering with local, state and federal officials to ensure that current and future employees of U. S. Steel will continue to be able to provide for their families and communities through the good-paying jobs offered at our facilities.
This is yet another extraordinary benefit that the Nippon Steel and U. S. Steel partnership will create for our stakeholders once completed.
About U. S. Steel
Founded in 1901, U. S. Steel is a leading steel manufacturer. With an unwavering focus on safety, the Company’s customer-centric Best for All® strategy is advancing a more secure, sustainable future for U. S. Steel and its stakeholders. With a renewed emphasis on innovation, U. S. Steel serves the automotive, construction, appliance, energy, containers, and packaging industries with high value-added steel products. The Company also maintains advanced iron ore production and has an annual raw steelmaking capability of 25.4 million net tons. U. S. Steel is headquartered in
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains information regarding U. S. Steel and Nippon Steel that may constitute “forward-looking statements,” as that term is defined under the Private Securities Litigation Reform Act of 1995 and other securities laws, that are subject to risks and uncertainties. We intend the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in those sections. Generally, we have identified such forward-looking statements by using the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “target,” “forecast,” “aim,” “should,” “plan,” “goal,” “future,” “will,” “may” and similar expressions or by using future dates in connection with any discussion of, among other things, statements expressing general views about trends, events or developments that we expect or anticipate will occur in the future, potential changes in the global economic environment, anticipated capital expenditures, the construction or operation of new or existing facilities or capabilities and the costs associated with such matters, as well as statements regarding the proposed transaction, including the timing of the completion of the transaction. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. Forward-looking statements include all statements that are not historical facts, but instead represent only U. S. Steel’s beliefs regarding future goals, plans and expectations about our prospects for the future and other events, many of which, by their nature, are inherently uncertain and outside of U. S. Steel’s or Nippon Steel’s control and may differ, possibly materially, from the anticipated events indicated in these forward-looking statements. Management of U. S. Steel or Nippon Steel, as applicable, believes that these forward-looking statements are reasonable as of the time made. However, caution should be taken not to place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. In addition, forward looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from U. S. Steel’s or Nippon Steel’s historical experience and our present expectations or projections. Risks and uncertainties include without limitation: the ability of the parties to consummate the proposed transaction, on a timely basis or at all; the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the proposed transaction; the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreement and plan of merger relating to the proposed transaction (the “Merger Agreement”); the risk that the parties to the Merger Agreement may not be able to satisfy the conditions to the proposed transaction in a timely manner or at all; risks related to disruption of management time from ongoing business operations due to the proposed transaction; certain restrictions during the pendency of the proposed transaction that may impact U. S. Steel’s ability to pursue certain business opportunities or strategic transactions; the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of U. S. Steel’s common stock or Nippon Steel’s common stock or American Depositary Receipts; the risk of any unexpected costs or expenses resulting from the proposed transaction; the risk of any litigation relating to the proposed transaction; the risk that the proposed transaction and its announcement could have an adverse effect on the ability of U. S. Steel or Nippon Steel to retain customers and retain and hire key personnel and maintain relationships with customers, suppliers, employees, stockholders and other business relationships and on its operating results and business generally; and the risk the pending proposed transaction could distract management of U. S. Steel. U. S. Steel directs readers to its Form 10-K for the year ended December 31, 2023 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, and the other documents it files with the SEC for other risks associated with U. S. Steel’s future performance. These documents contain and identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements.
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Media
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Kelly Sullivan / Ed Trissel
Joele Frank, Wilkinson Brimmer Katcher
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Emily Chieng
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E – ecchieng@uss.com
Source: United States Steel Corporation
FAQ
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