Operator
Good morning, everyone, and welcome to United States Steel Corporation s Fourth Quarter and Full Year 2020 Earnings Conference Call and Webcast. [Operator Instructions]
I ll now hand the call over to Kevin Lewis, Vice President of Investor Relations and Corporate FP&A. Go right ahead.
Kevin Lewis
Vice President-Investor Relations and Corporate FP&A
Thank you, and good morning. We appreciate your continued interest in U.S. Steel and welcome you to our fourth quarter and full Year 2020 earnings call. On the call with me this morning will be U.S. Steel President and CEO, Dave Burritt; Senior Vice President and CFO, Christie Breves; and Senior Vice President and Chief Strategy and Development Officer, Rich Fruehauf.
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United States Steel Corporation Sells $160 Million Keystone Industrial Port Complex
December 23, 2020 GMT
PITTSBURGH (BUSINESS WIRE) Dec 23, 2020
United States Steel Corporation (NYSE: X) today announced it has closed on the sale of its non-core real estate asset, the Keystone Industrial Port Complex (KIPC), in Fairless Hills, Pennsylvania. Under the terms of the sale, the Company received approximately $160 million in cash.
“This non-core asset sale delivers on our strategic commitment to extract incremental value from our attractive portfolio of real estate assets,” commented U. S. Steel President and Chief Executive Officer David B. Burritt. “The proceeds from this transaction further enhance our strong cash position, supporting our decision to fund the purchase of the remaining Big River Steel equity with cash on hand.”