Gary Works is the biggest steel mill in the country, Weinberg said, and he’s worried the mill will decline or fail if the blast furnaces are not replaced. “If that happens, then the city of ...

The investor is proposing investing $950 million to retrofit Gary Works' blast furnaces as part of a broader turnaround plan. Ancora aims to provide stockholders with a return of $75.67 a share.

In August, Nippon Steel announced that it would invest about $300 million toward the Gary Works facility, updating the blast furnace and extending its life by about 20 years. Nippon Steel Vice ...

In making its nearly $15 billion bid for the storied Pittsburgh-based steelmaker, Nippon Steel had promised to invest $2.7 billion in U.S. Steel’s aging blast furnace operations in Gary ...