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While consolidation would ease the steel industry's current overcapacity, a possible merger of Pittsburgh-based USX-US Steel and Bethlehem, Pa.-based Bethlehem Steel hinges on the hefty pension obligations of steelmakers whose retired workers were members of United Steel Workers of America. USX and BethSteel are hoping for an unprecedented government bailout to cover the costs, but no one's betting that will happen.
December 06, 2001 at 12:00 AM
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The original version of this story was published on Law.Com
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