LTV, Union, Creditors Reach Tentative Deal

LTV Corp., the second-biggest U.S. steelmaker, reached a tentative agreement with the steelworkers union and a creditors’ committee to avert a shutdown today of the company’s steel plant in Cleveland.

LTV and the United Steel Workers of America reached the agreement with a committee of unsecured creditors involved in the company’s Chapter 11 bankruptcy case, the union and committee said in separate news releases Friday.