Bethlehem Steel Losses Hit $113 Million for Full Year
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Bethlehem Steel Corp. said its losses continued to mount, reaching $65 million in the fourth quarter and $113 million for 1984.
Chairman Donald H. Trautlein said the company expects to continue losing money through the first three months of this year.
Bethlehem, the nation’s third-largest steel producer behind United States Steel Corp. and LTV Corp., last posted a profit in 1981, when it earned $211 million.
Blaming imports of cheap steel for depressing his company’s shipments and prices, Trautlein looked to President Reagan’s steel import restraint program for relief from foreign competition.
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