Steel Mills
Arkansas Passes Incentives Aimed at Steel Mills
Written by Sandy Williams
April 1, 2017
On Thursday SMU reported that tax incentives aimed at helping Big River Steel expand had passed the Arkansas Senate. The Senate Bill 688 has now been approved by the House in a 79-11 vote on Friday. SMU also received a comment on the legislation from Big River Steel’s CEO, Dave Stickler.
Rep. Monte Hodges, D-Blytheville, told the House that SB688 would “ensure a positive cost benefit to the state in the evaluation of a potential future steel project that meets other eligibility criteria.”
“It has to be done. It has to be built. The jobs have to be in place before we give them a cent,” he said. “That’s what I really like about this incentive.”
Dave Stickler, Big River Steel’s chief executive officer, said the company is pleased by the Senate’s interest in encouraging steel investment in the region. In a statement sent to Steel Market Update Mr. Stickler said:
“With several notable accomplishments already achieved, including establishing new records in terms of first month production levels and being able to operate profitably by the second month, Big River Steel looks forward to building on this momentum,” said Stickler. “To this end, we are pleased that the Arkansas Senate has taken steps to encourage additional steel investments in the state of Arkansas. As anyone in the steel industry must do to thrive, we are continually evaluating a range of opportunities.”
Mr. Stickler will be interviewed on stage by SMU CEO and Publisher, John Packard, during the 7th SMU Steel Summit Conference in Atlanta on August 28, 29, 30th 2017.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Nucor lowers 2024 output estimate for Brandenburg plate mill
Nucor has lowered the 2024 production estimate for its Brandenburg, Ky., plate mill due to soft market conditions.
SSAB adjusts output in weak Q3, readies for Q4 rebound
SSAB said lower plate prices in the US were the primary reason for reduced results in the second quarter. With a dismal Q3 outlook, the Swedish steelmaker is adjusting production across its facilities. That includes moving up its annual US mill outage in anticipation of a better Q4. SSAB Americas Revenues in the Americas segment […]
Topalian puts focus on “unfair” trade, eyes USMCA partners
Nucor’s top executive expressed concerns over unfair trade practices, highlighting increased steel imports from Mexico and Canada.
Cliffs sees close of Stelco buy, bottom to steel tags, and Mexico out of USMCA
Cleveland-Cliffs expects its acquisition of Canada’s Stelco to close later this year, which will help the the Cleveland-based steelmaker as a bottom to steel tags nears.
Nucor posts lower Q2 earnings, predicts tough Q3 too
Nucor recording lower second quarter earnings on falling steel prices. And the Charlotte, N.C.-based predicted that profits would be lower still in the third quarter, primarily because of weaker results from its steel mills divisions.