STEEL

Lukens to Purchase Washington Steel: Lukens Inc. announced that it will buy all Washington Steel Corp. stock for $280 million cash. Lukens’ chairman and chief executive, R. W. Van Sant, said the purchase will allow the two companies to serve a broader market. Washington, a stainless steel producer based in Washington, Pa., had sales of $415 million for its fiscal year ending June 30, 1991. Lukens, a plate steel producer and industrial products company, had sales of $629 million last year. Washington Steel employs about 1,200 workers.