Coatesville, Pa. is a quiet little town of narrow streets, dozens of musty, old-fashioned saloons and only one real claim to fame: Lukens Steel Co., a small, smart, fast-growing outfit which is now one of the largest U.S. makers of armor plate. Last week Lukens announced it had quadrupled plate output in the year ended Oct. 10, turned out enough armor for a dozen warships (battleships, cruisers, carriers) and hundreds of army tanks to boot.
The Woman. Second oldest U.S. steel maker (oldest: Taylor-Wharton at High Bridge, N.J.), Lukens was founded in 1810. Badly located for raw materials, it limped along until...