Path: bloom-picayune.mit.edu!snorkelwacker.mit.edu!americast.com!americast.com!americast-post Newsgroups: americast.latimes.money From: americast-post@AmeriCast.Com Organization: American Cybercasting Approved: americast-post@AmeriCast.com Subject: STEEL Date: Wed, 4 Nov 92 06:47:12 EST Message-ID: HEADLINE: STEEL Publication Date: Tuesday November 3, 1992 BYLINE: 10 Acres of Old Kaiser Mill Headed to China: Part of Kaiser Steel's old Fontana mill that turned pig iron into ribbons of semi-finished steel will be broken down and shipped to China for reassembly, 20-story building and all, officials said. The deal was agreed to by California Steel Industries Inc., which bought Kaiser's finishing mill in 1984, a year after Kaiser shut down. California Steel, which continues to produce finished steel, is selling the No. 2 Basic Oxygen Process and Caster facility to Capital Iron & Steel Corp. of Beijing. The facility, built in 1978, has been shut down since 1982. Even before Kaiser closed, the Chinese had begun negotiations to buy the facility, said California Steel spokesman Matthew C. MacFadden. Kaiser spent $287 million building and equipping the factory. A decade ago it quoted the Chinese a price of $60 million; the final sales price was less than $20 million, MacFadden said. This article is copyright 1992 The Los Angeles Times Home Edition. Redistribution to other sites is not permitted except by arrangement with American Cybercasting Corporation. For more information, send-email to usa@AmeriCast.COM