Bethlehem Steel Shipyard
The Bethlehem Steel Shipyard was operated by the second largest producer of steel in the United States. Together, all the Bethlehem Steel Shipyards were among the largest shipbuilders in the world, especially during World War I and World War II, when shipbuilding was at its peak in the US.
The Bethlehem Steel company found its roots in 1857, and was the company that produced the first railroad rails. As time passed, Bethlehem Steel increased its diversity of products and entered the shipbuilding industry in the early 1900s. By 1913, the Bethlehem Steel Shipyard had earned its title of the most prominent and largest shipbuilding company in the world.
The Bethlehem Steel Shipyard played a major role in both World War I and World War II. During the two wars, the yard produced more than 1,000 U.S. Navy ships - far more than any other shipyard of that era. At this peak period, the Bethlehem Steel Company had over 300,000 employees and its shipyards employed approximately 180,000.
While Bethlehem Steel's major industry was its shipyards, the company also constructed railroad freight cars and was the first ever to use aluminum in the production of railroad freight cars, constituting a major innovation.
Unfortunately, by the 1970s and 80s, foreign steel companies found ways to produce steel more cost-effectively and at a quicker rate of production. The overseas plants used new techniques that the steel plants in the United States did not have, including a technique called "Continuous Casting".
Throughout the 80s, steel became much less expensive to import from foreign companies, thus creating a negative impact on Bethlehem Steel Shipyard's market share in the United States. The year 1982 saw Bethlehem Steel lose more than $1.5 billion, causing it to close down many of its facilities. These shutdowns continued through the remainder of the 80s and into the 1990s.
In 1995, the Bethlehem Steel shut down the production of steel at their main plant. They stopped making railroad cars in 1993, and by 1997, had stopped making ships as well. By now, it was only a matter of time before the company would closed permanently. In 2001, they filed for bankruptcy. The remaining six Bethlehem Steel plants were purchased by the International Steel Group.
Most people will agree that the booming foreign market for steel caused the collapse of Bethlehem Steel and its shipyards and other facilities. However, many people believe that the president of the company had a lack of desire to renew the company and keep up with technology, thus Bethlehem Steel's failure to succeed in a competitive market.
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