Embassy Welcomes $100 Million Investment by U.S. Steel-Serbia

September 18, 2008

U. S. Steel Serbia, a wholly owned subsidiary of United States Steel Corporation, announced today that it plans to construct a hot-dip galvanizing facility at its steelmaking operation in Smederevo. The production capacity of the new line and technology employed will be based upon an analysis of the construction, automotive and other markets for hot-dip galvanized steels in Serbia and other regions served by U. S. Steel Serbia, the country's largest exporter.

The company expects to invest at least $100 million to build the facility, which will create no fewer than 50 new permanent jobs and approximately 225 construction jobs.

Construction is expected to take approximately 20 months and will begin after all necessary permits and approvals have been received.

"U. S. Steel's investment in Serbia, which began five years ago, is part of our commitment to provide our valued customers in the region with the high quality products and service they have come to expect from our company, " said Richard Veitch, general director of U. S. Steel Serbia.

"Our investment in the new hot-dip galvanizing line, in addition to our other significant investments over the past five years, is not only the fulfillment of our promise to our customers to provide them with the best products and service; it is also a testament to the skill, talent and commitment of our employees in Serbia who are at the center of U. S. Steel Serbia's success," Veitch pointed out.