Bethlehem Steel Corporation

The Bethlehem Steel Corporation (1857-2003), based in Bethlehem, Pennsylvania, once was the second largest steel producer in the United States (after Pittsburgh, Pennsylvania-based US Steel). But following its 2001 bankruptcy, the company was dissolved and the remaining assets sold to International Steel Group in 2003. During its life, Bethlehem Steel also was one of the largest shipbuilding companies in the world.

Closing and bankruptcy

With the closing of its local operations and its extraordinary ensuing impact on the local Lehigh Valley area, Bethlehem Steel decided to help revitalize the South Side of Bethlehem, and hired outside consultants to develop conceptual plans on the reuse of the massive property. The consensus was to rename the 163-acre (660,000 m²) site Bethlehem Works and to use the land for cultural, recreational, educational, entertainment and retail development. The National Museum of Industrial History, in association with the Smithsonian Institution, and the Bethlehem Commerce Center, consisting of 1,600 acres (6.5 km²) of prime industrial property, were erected on the site.

Related Topics:
Lehigh Valley - Bethlehem Works - Smithsonian Institution

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In 2001, Bethlehem formally filed for bankruptcy. Two years later, in 2003, the company's remnants, including its six massive plants, were acquired by the International Steel Group.

Related Topics:
2001 - Bankruptcy - 2003 - International Steel Group

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