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(AMM) Steel Caucus writes to White House on SDCO concerns

July 30, 2010 - 21:37 GMT Location: PITTSBURGH

KEYWORDS: steel caucus , President Obama , Anshan , Steel Development , SDCO

Members of the Congressional Steel Caucus have written a letter to President Obama, requesting a White House investigation into the proposed investment by a Chinese company into Steel Development Co. LLC (SDCO).

"We look forward to a response from the Executive Branch that indicates they are investigating this case," U.S. Reps. Pete Visclosky (D., Ind.) and Tim Murphy (R., Pa.), the respective chair and co-chair of the steel caucus, said in a joint statement. "Pending a satisfactory response from the White House, we are leaving all legislative options to protect American steel industry jobs on the table."

John Correnti, chairman of SDCO, has brushed off the attempts by caucus to block his plans for the Amory, Miss., mill as "laughable," noting that the roughly 15-percent investment by Anshan Iron & Steel Group would create American jobs and bolster manufacturing...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

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