Bethlehem Steel Corp. Wednesday said it will sell four unprofitable units and take a $375 million charge against fourth-quarter earnings for the restructuring plan. None of the units has operations in Western New York.
Bethlehem Steel said the units being sold are BethShip, its ship repair business in Sparrows Point, Md.; Centec Roll Corp. and BethForge Inc., which make forged products for the metalworking industry; and Bethlehem Structural Products Corp., which makes steel beams for buildings. The last three units are based in Bethlehem, Pa.
The four units employ 2,235.
Bethlehem also said its third-quarter profit from operations fell to $23 million, or 12 cents a share, from net income of $34.4 million, or 22 cents a share, a year earlier.
Revenue fell 4.1 percent to $1.17 billion from $1.22 billion.