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In May 1998, it acquired Lukens Inc, that helped improve the company’s production of carbon and alloy plate. It gave Bethlehem the bragging rights to be the highest plate producer in the nation. 1998 was an excellent yr for Bethlehem because it is lastly seeing the silver lining. But good things abruptly got here to a screeching halt for Bethlehem. Overproduction beyond the required capability for plates altered the trade sample. Imports of cheaper plates had decreased its profitability and the company began chopping back work schedules and inventories. This continued until 1999 that resulted in virtually 60 p.c drop in the company’s revenue. Bethlehem tried to stay afloat tapping the federal government by filing, along with four other US firms, an anti-dumping lawsuit (Sheridan, 1999).