Bethlehem Steel Corporation
For Immediate Release

BETHLEHEM, Pa. and HARTFORD, Conn., May 29, 2001 — Bethlehem Steel Corporation and HSB Reliability Technologies (HSBRT), of Alexandria, Va., announced today the formation of a strategic business alliance to offer maintenance management and optimization consulting services to Bethlehem's customers and other trading partners.

"Formation of this alliance is part of our overall strategy to create value for our stockholders by focusing on improving operational excellence and providing outstanding service and innovative solutions," said Gary L. Millenbruch, Bethlehem Steel's vice chairman.

Under the terms of the alliance agreement, Bethlehem Steel will market HSB Reliability Technologies' world-class asset management and reliability consulting services to Bethlehem's extensive list of customers and other trading partners. HSB Reliability Technologies employs proven proprietary consulting methodologies that focus on improving equipment reliability and reducing maintenance costs.

"HSB Reliability Technologies' diagnostic assessment and reliability improvement services can help process-oriented companies to uncover and take advantage of untapped profit potential that often exists within current business practices," said Ray Oliverson, executive vice president for HSB Reliability Technologies. "By working with Bethlehem, we can help their customers and suppliers improve equipment reliability and uptime, reduce repair and maintenance costs, extend equipment life and reduce energy consumption and spare parts inventories." HSB Reliability Technologies has a database with more than one million machine years that it leverages to tailor asset optimization strategies and computer maintenance management systems for individual customers.

HSB Reliability Technologies, a Hartford Steam Boiler business, provides reliability improvement consulting and maintenance management programs worldwide. The Hartford Steam Boiler Inspection and Insurance Company is one of the world's leading equipment breakdown insurers and is a global provider of specialty insurance products, inspection services and engineering consulting. For more information about HSB Reliability Technologies visit its website at www.hsbrt.com.

Bethlehem Steel Corporation is the nation's second largest integrated steel company with revenues of about $4 billion and raw steel production of about ten million tons. Its 14,000 employees work primarily in three major divisions - Burns Harbor, Ind., Sparrows Point, Md. (with plate mills in Coatesville and Conshohocken, Pa.), and Pennsylvania Steel Technologies, Steelton, Pa., and at its corporate headquarters in Bethlehem, Pa. For more information about Bethlehem Steel Corporation visit its website at https://www.bethsteel.com/.

Return to News Releases