Bethlehem Steel Corp.

Bethlehem Steel Corp.

U.S. corporation created in 1904 to consolidate Bethlehem Steel Co., the Union Iron Works, and a few smaller companies. Its principal founder was Charles M. Schwab. In its early decades Bethlehem Steel (based in Bethlehem, Pa.) produced primarily coal, iron ore, and steel; it supplied the steel for the Golden Gate Bridge. In later decades it diversified into plastics, chemicals, and nonferrous ores. By the late 20th century it had become one of the largest steel producers in the U.S., with operations in Pennsylvania, Indiana, Maryland, and New York. The company's high labour costs, aging infrastructure, and inability to compete globally led to its liquidation in 2003.