SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): February 26, 1996
NATIONAL STEEL CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE
(State or other jurisdiction of incorporation)
1-98325-0687210
(Commission File Number)(IRS Employer Identification No.)
4100 EDISON LAKES PARKWAY, MISHAWAKA, INDIANA 46545-3440
(Address of principal executive offices) Zip Code)
Registrant s telephone number, including area code: (219) 273-7000
ITEM 5. OTHER EVENTS
National Steel Corporation issued a press release on
February 26, 1996 announcing a first quarter loss.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
20.1 Press release dated February 26, 1996.
SIGNATURE
Pursuant to the requirement of the Securities Exchange Act
of 1934, the Registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly
authorized.
NATIONAL STEEL CORPORATION
By: /s/ Carl M. Apel
Carl M. Apel
Corporate Controller, Accounting
and Assistant Secretary
EXHIBIT INDEX
Exhibit Description
20.1 Press Release dated February 26, 1996.
News Release
Media Contact: Leon L. Judd
(219) 273-7631
Analyst/Investor Contact: Joseph A. Rainis
(219) 273-7158
NATIONAL STEEL SEES FIRST QUARTER LOSS
Mishawaka, IN, February 26, 1996--National Steel Corporation
(NYSE:NS) today announced that its first quarter 1996
results, which are to be released in late April, will be
below current estimates made by the analyst community as
well as below fourth quarter 1995 results.
"While we had anticipated approximately a break-even first
quarter, some recent events have occurred which will have a
further negative impact on our results," said President and
Chief Executive Officer V. John Goodwin. "Pellet production
at our wholly-owned subsidiary, National Steel Pellet
Company (NSPC), has been negatively impacted by a fire and a
bearing failure which caused an outage of eleven days. In
order to avoid another bearing failure, production is being
ramped up very slowly with a return to normal operating
levels expected in April," Goodwin continued.
The Company estimates that lost production and repair work
at NSPC will negatively impact operating income by
approximately $10 million in the first quarter of 1996. In
addition, lower average steel product selling prices and
higher prices for natural gas will likely reduce operating
income by a similar amount.
Headquartered in Mishawaka, Indiana, National is the
nation's fourth largest integrated steel company, with
annual shipments of approximately five and one-half million
tons of flat rolled products. National employs
approximately 9,500 people.
