Steel Mills
JSW Steel Buys Acero Junction
Written by Sandy Williams
March 29, 2018
JSW Steel made another move to expand its U.S. operations by buying the Acero Junction sheet mill in Mingo Junction, Ohio. The $80.85 million purchase was finalized on Wednesday with JSM International, Acero Junction Holding Inc. and Acero Junction Inc. and is expected to close within 60 days. JSW, the India-based steelmaker, will have 100 percent ownership and strengthen its foothold in the North American market.
Acero Junction Holdings purchased the Ohio operations from Frontier Industrial Corp. in December 2016. The assets include an electric arc furnace, ladle metallurgy furnace and continuous slab caster. The 80-inch hot strip mill has a capacity of three million tons of hot rolled coils per year. Acero Junction’s electric arc furnace was installed in 2004, but has been idled since 2009 as the company struggled with finances.
Earlier this week, JSW Steel announced a $500 million investment, including a new EAF, at its Baytown, Texas, plant. JSW expects operations at Baytown to be profitable within two years.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
August US mill shipments slip but still higher than last year
The American Iron and Steel Institute reported a decline in the monthly shipments of US mills from July to August.
TransPod, Algoma, Supreme Steel linkup anchors Canadian steel in high-speed transit build
The three Canadian companies have announced a strategic partnership to support the development of an ultra-high-speed transit line from Edmonton to Calgary.
Metallus, USW agree to tentative four-year labor deal
Metallus and the United Steelworkers (USW) have agreed to a tentative four-year labor contract.
ArcelorMittal Dofasco resumes cokemaking after emergency maintenance
The Canadian steelmaker reported on Sept. 30 that “urgent maintenance” was needed in its coke plant off-gas systems. The work required coke oven gas from the No. 2 coke plant to be flared for most of that week.
AISI: Raw steel production ticks back down
US raw steel output declined last week after increasing the week prior, according to the latest data from the American Iron and Steel Institute (AISI). Output has see-sawed from week to week since mid-August. Still, it has remained historically strong over the past four months and has held near multi-year highs since June. Domestic mills […]