U.S. Steel Is No More--It’s Now Known as USX

U.S. Steel Corp. Chairman David Roderick today announced that the nation’s largest steel maker is changing its name to USX and also mapped out a restructuring of its steel-making business.

The name USX comes from the company’s New York Stock Exchange trading symbol, “X.”

Steel-making operations and domestic iron ore will be known as USS, operating as a free-standing subsidiary, but not incorporated as a separate company, Roderick said.

He said that turning the steel division into a subsidiary will help determine how well, or how badly, the business fares on its own.

In addition, Roderick said chemicals, steel service centers, real estate, transportation and other units will be known as U.S. Diversified Group. The parent company and both those new units will be headquartered in Pittsburgh.

The Texas Oil & Gas and Marathon Oil subsidiaries will continue operating in Dallas and in Findlay, Ohio, respectively.