Company seeks buyer for J & amp;L Specialty Steel

CORAOPOLIS, Pa. (AP) -- Arcelor SA, the world's largest steelmaker, is looking for a buyer for its U.S. subsidiary, J & amp;L Specialty Steel Inc. of Coraopolis, a spokesman for the Luxembourg-based company said.
"J & amp;L is in the process of identifying potential buyers for its operations," Arcelor spokesman Luc Scheer said. He declined to comment further.
Last month, Arcelor announced that its third-quarter profit more than doubled to $127 million, even though revenue declined to $6.8 billion.
The company was formed in 2002 by the merger of Usinor of France, Luxembourg's Arbed and Spain's Aceralia. It has about 100,000 employees worldwide, mostly in Europe, and is based in Luxembourg.
J & amp;L is a stainless steel producer based in Coraopolis, about 10 miles west of Pittsburgh, and operates mills in Midland and Louisville, Ohio. It has about 900 employees.
The United Steelworkers of America signed a new six-year contract with J & amp;L last year. Union officials didn't immediately comment on the plans to sell the plant.