Steel Mills
ArcelorMittal to Sell LaPlace and Vinton Long Carbon Facilities
Written by Sandy Williams
March 23, 2016
ArcelorMittal announced it will sell its LaPlace and Vinton Long Carbon steel facilities to an affiliate of Black Diamond Capital Management.
The LaPlace Louisiana mini-mill includes an electric arc furnace, ladle metallurgy station, two four-strand continuous billet casters, and a fifteen-stand Danieli medium section mill. The LaPlace facility, along with a rolling mill in Harriman, Tenn., produces billets, angles, flats, channels and beams. The mill has a steelmaking capacity of approximately 683,000 tons.
The Vinton facility, located in El Paso, Texas, produces rebar and grinding media. Its principal production facilities include an EAF, billet caster, rolling mill and bar mill and services with steelmaking capacity of approximately 320,000 tons.
Commenting, Jim Baske, executive vice president, CEO ArcelorMittal North America, said: “The sale of LaPlace and Vinton is consistent with ArcelorMittal’s stated strategy of selective divestment of non-core assets. I would like to thank the employees of LaPlace and Vinton for their commitment and efforts over the years, and wish them a successful future under new ownership.”
La Place has 348 hourly and 108 salaried employees; Vinton employs 402.
The transaction is expected to close in April 2016 and a service agreement has been entered into with Black Diamond to ensure a smooth transition and no disruption to production.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
SSAB announces $74M expansion in Alabama
The project will expand heat treat capacity at its Axis, Alabama plant
ArcelorMittal’s EAF in Alabama expects first heat in Q2
The facility at AMNS Calvert will be the first EAF in North America capable of supplying exposed automotive grades with domestically melted and poured material.
Nucor’s Topalian lauds Trump’s trade policies, downplays impact
Nucor’s top exec Leon Topalian said the benefit of the current administration’s aggressive trade policies “trumps” any risk of potentially higher raw materials prices.
SSAB reports higher production, shipments
But profits slipped vs. last year.
Nucor earnings slump in first quarter, but better times seen ahead
Nucor’s profits fell precipitously in the first quarter, but the company has a rosier outlook for the following quarter.