The Bethlehem Steel Corporation was an American company that for much of the 20th century was one of the world's largest steel producing and shipbuilding companies. Its roots trace to an ironmaking company organized in 1857 in Bethlehem, Pennsylvania, and later named the Bethlehem Iron Company. In 1899, the owners of the iron company founded the Bethlehem Steel Company. Five years later, the Bethlehem Steel Corporation was created to be the steelmaking company's corporate parent.