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Plan for Joint Venture Fails: Bethlehem Steel Corp. said a proposed 50-50 joint venture with British Steel has been scrapped because of difficulty reaching a labor agreement with U.S. workers. The venture, announced in January, would have made and marketed structural and rail products, and involved the restructuring and modernization of Bethlehem’s structural steel production facilities in Bethlehem, Pa., and its rail production facilities in Steelton, Pa. Officials said it would have eliminated about 2,000 jobs.
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