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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.”