LTV Steel - History
LTV Corporation was formed in Dallas in 1947, beginning life as a small electrical contractor in construction. The company expanded throughout the 1950s and 1960s through mergers and acquisitions. In 1961, LTV Corporation was renamed Ling-Temco-Vought, and in 1968, acquired a controlling interest in Jones & Laughlin Steel.
Ling-Temco-Vought continued to expand through the 1970s and the 1980s. By 1986, renamed again as LTV Corporation, the company had acquired several more steel works, including Ohio Steel in Cleveland, and Republic Steel in Cleveland, LTV Corporation became LTV Steel. LTV Steel divested itself of all non-steel industries. In 1986, LTV Steel filed for bankruptcy protection and began to restructure itself, divesting itself of the remaining non-steel assets and selling off older steel mills that were no longer as productive.
LTV Steel specialized in sheet metal products, galvanized metal and tin products. They manufactured and supplied pipes, conduits and tubular steel and metal products for the automotive, appliance and electrical industries. The metal milled at LTV mills was used in agriculture, construction, gas and oil and the transportation industries.
Throughout the 1990s, LTV Steel continued to grow and be profitable, but toward the latter half of the 1990s, downturns in the steel industry began to take their toll on the company that was once the third largest steel company in the United States. In 2001, LTV Steel filed for bankruptcy a second time and sold off a number of its steel mills and facilities to pay off mounting debts.
LTV Steel ceased operation in December 2001. Along with their history of success and profitability, LTV Steel left behind another legacy. During its heyday, LTV Steel employed thousands of workers at many plants and mills throughout the country. Like other steel mills and foundries, LTV plants used asbestos heavily to insulate and protect its workers and products. Unfortunately, in so doing, they exposed their workers to one of the deadliest fibers known - and did nothing to protect them from the risks of asbestosis, lung cancer and mesothelioma. For more information, please see Asbestos and Occupations at Risk of Asbestos Exposure.
Anyone who worked at an LTV Steel facility may have been exposed to asbestos and is at risk of developing mesothelioma and other asbestos-related diseases. If you worked at a plant owned by LTV Steel, you should contact your doctor, and speak to an experienced mesothelioma lawyer about your right to compensation for illnesses and injuries caused by asbestos exposure.
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