LTV Steel Buy Recycled Program Achieves All-Time High
17 March 2000
LTV Steel Buy Recycled Program Achieves All-Time HighCLEVELAND, March 17 LTV Steel today announced that it purchased in excess of $15.5 million in recycled products and supplies in 1999, establishing a new all-time record for the Company's Buy Recycled Program. LTV's recycled product purchases of more than $15.5 million, surpassed the 1999 goal of $13.7 million by nearly 19 percent. In all, 19 recycled products were purchased from 29 suppliers. The previous record was set in 1998, when the company's recycled purchases reached $13.1 million. For 2000, LTV has established a goal of over $16.3 million, a 5-percent increase over 1999. In addition, the company will seek to expand the number of recycled products and suppliers. "The successes we achieved in 1999 are a direct result of a company-wide commitment to this important environmental initiative," said Richard J. Hipple, president-LTV Steel. "While we are firmly focused on recycling within our steel operations whenever feasible, we recognize that these efforts are complete only if there also is an ongoing emphasis on buying recycled products." The recycled products are used throughout LTV Steel plants and offices and include office supplies, tissue products, forms, retreaded tires, lubricants, absorbents, packaging, batteries, re-refined fuel oil and wire and cable. LTV's steel scrap purchases are not included in the Buy Recycled Program. LTV established the Buy Recycled Program in 1994 and is one of the founders of the Ohio Buy Recycled Business Alliance, formed in 1995 as a network of Ohio businesses that are committed to increasing their purchases of recycled-content products and materials. Since the inception of the Buy Recycled program, LTV's purchases of recycled products have grown from $2.2 million to last year's $15.5 million. LTV seeks to increase the program each year, establishing goals to increase the dollar amount of purchases, increase the number of products or expand the number of suppliers. The LTV Corporation is a manufacturing company with interests in steel, metal fabrication and leading steel technologies. LTV is committed to pursuing domestic and international growth opportunities to increase shareholder value. LTV's Integrated Steel segment is a leading producer of high-quality, value-added flat rolled steel, and a major supplier to the transportation, appliance, electrical equipment and service center industries. LTV's Metal Fabrication segment consists of LTV Copperweld, the largest producer of tubular and bimetallic products in North America and VP Buildings, a leading producer of pre-engineered metal buildings for low-rise commercial applications. LTV's Corporate and Other segment includes investments in leading steel technologies consisting of a 50 percent interest in Trico Steel, a flat rolled steel minimill in Alabama, and a 46.5 percent interest in Cliffs and Associates reduced iron venture in Trinidad.