Buffalo in Erie County, New York — The American Northeast (Mid-Atlantic)
Bethlehem Steel in Lackawanna
The Industrial Heritage Trail
—Part 3: The Purchase of Lackawanna Steel —
On May 11, 1922, Lackawanna Steel announced it had agreed to be purchased by Bethlehem Steel, in a merger which would create a billion dollar company. The purchase price was $60 million dollars, probably less than half of what the company was worth.
Bethlehem Steel capitalized on their cheap purchase price of the aging plant and invested $40 million dollars to bring the facility up to modern standards, gearing its production to the burgeoning automobile market. As a result of this investment and Bethlehem's considerable industry connections, the plant boomed in production during the 1920s, becoming highly profitable and managing to maintain its operations through the Great Depression years of the 1930s.
At the outbreak of World War II, the plant was in prime condition to supply steel of all types to American industrial centers. By 1943, the steel plant
Hamburg Turnpike at Gate 1 of Bethlehem Steel, August 7, 1952, 3:30 P.M. Image Source: Steel Plant Museum of WNY.
Steel Plant Museum of WNY
Erected by The Industrial Heritage Committee, Inc.
Location. 42° 50.043′ N, 78° 51.281′ W. Marker is in Buffalo, New York, in Erie County. Marker is on Fuhrmann Boulevard ¼ mile south of Ohio Street, on the right when traveling south. Touch for map. Marker is in this post office area: Buffalo NY 14203, United States of America.
Other nearby markers. At least 8 other markers are within walking distance of this marker. A different marker also named Bethlehem Steel in Lackawanna (here, next to this marker); a different marker also named Bethlehem Steel in Lackawanna (here, next to this marker); a different marker also named Bethlehem Steel in Lackawanna (here, next to this marker); The Lehigh Portland Cement Company (here, next to this marker); The Union Ship Canal (here, next to this marker); Improvements in Ship Design (a few steps from this marker); Early Lake Erie Water Craft (a few steps from this marker); The Great Lakes (a few steps from this marker). Touch for a list and map of all markers in Buffalo.
Also see . . . The Steel Plant Museum of Western New York. (Submitted on July 25, 2015, by Anton Schwarzmueller of Wilson, New York.)
Categories. • Industry & Commerce •
Credits. This page was last revised on June 16, 2016. This page originally submitted on July 25, 2015, by Anton Schwarzmueller of Wilson, New York. This page has been viewed 132 times since then and 31 times this year. Photos: 1, 2. submitted on July 25, 2015, by Anton Schwarzmueller of Wilson, New York.