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
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