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.

Founding

The company began on April 8, 1857 as the Saucona Iron Works in South Bethlehem, Pennsylvania. Then, on May 1, 1861, the company changed its name to Bethlehem Iron Works. In its early years, it produced railroad rails and armor plating for the US Navy. In 1899, the company assumed the name, Bethlehem Steel Company.

Related Topics:
April 8 - 1857 - May 1 - 1861 - Railroad - Armor - US Navy - 1899

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In 1904, Charles M. Schwab (recently resigned from US Steel) and Joseph Wharton formed the Bethlehem Steel Corporation with Schwab becoming its first president and chairman of its board of directors. The Bethlehem Steel Corporation ascended to great prominence in American industry, installing the revolutionary grey rolling mill and producing the first wide-flange structural shapes to be made in America. These shapes were largely responsible for ushering in the age of the skyscraper and establishing Bethlehem Steel as the leading supplier of steel to the construction industry.

Related Topics:
1904 - Charles M. Schwab - Joseph Wharton - Board of directors - Skyscraper - Construction

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In the early 1900s, the corporation branched out from steel, with iron mines in Cuba and shipyards around the country. In 1913, it acquired the Fore River Shipbuilding Company of Quincy, Massachusetts, thereby assuming the role of one of the world's major shipbuilders.

Related Topics:
1900s - Cuba - Shipyard - 1913 - Fore River Shipbuilding Company - Quincy, Massachusetts

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