Mittal Steel USA Refines Plans for Weirton's Future in Tinplate

CHICAGO, Feb. 20  /PRNewswire-FirstCall/ -- Mittal Steel USA has made several key decisions in its plans to reconfigure its plant in Weirton, W.Va., as a successful manufacturer of tin-plated sheet steel.

The company today finalized a severance package for the employees whose jobs are being eliminated by the closure of certain operations at the plant.

"We have put together an attractive severance package in order to ensure the smoothest possible transition for both our employees and the new plant configuration," said Louis L. Schorsch, president and chief executive officer of Mittal Steel USA.

Key features of the severance package include significant options for employees in terms of how benefits are provided, such as lump sums or extended health care, as well as various benefits that increase the costs to the company.

The severance package applies to roughly 1,000 employees associated with the ironmaking and steelmaking operations, whose indefinite idling had been announced earlier.

Mittal is continuing to operate the hot strip mill at Weirton, which had been under scrutiny as well.

"Working with the Independent Steelworkers Union, we are developing plans that will enable that operation to run economically," Schorsch said.

"By using semifinished steel from our cost-effective plants, and by eliminating unrelated costs, we expect to make Weirton a highly competitive maker of tinplate," Schorsch said.

Mittal Steel USA also announced several investments to improve finishing operations, the largest of which is a tension leveler on a coating line, which will improve product quality.

"No one wanted to see jobs eliminated here," said Mark Glyptis, president of the Independent Steelworkers Union.

"But Mittal has made a commitment to invest in our hot mill facilities as well as our tin mill, and we've been working together to preserve as many jobs as possible by becoming a world-class tin mill."

About Mittal Steel USA

Mittal Steel USA is North America's largest steelmaker and serves a broad U.S. manufacturing base.  The company has operations in 12 states of the United States.

About Mittal Steel Company

Mittal Steel Company N.V. (NYSE:MT)(AEX:MT) is the world's largest and most global steel company.  The company has operations in 16 countries, on four continents.  Mittal Steel encompasses all aspects of modern steelmaking, to produce a comprehensive portfolio of both flat and long steel products to meet a wide range of customer needs.  It serves all the major steel-consuming sectors, including automotive, appliance, machinery and construction.

For 2004, Mittal Steel had revenues of US$22.2 billion and steel shipments of 42.1 million tons.  The company trades on the New York Stock Exchange and the Euronext Amsterdam under the ticker symbol "MT." For additional information on Mittal Steel, please see http://www.mittalsteel.com/ . 

First Call Analyst: 

FCMN Contact: [e-mail] 

DATASOURCE: Mittal Steel USA



CONTACT:  David C. Allen, Corporate Communications of Mittal Steel USA,

[phone] or [phone]; or Dave Gossett of Independent

Steelworkers Union, [phone], or Pager: [phone], or Home:

[phone]



Web site:  http://www.mittalsteel.com/ 

Copyright