Market Segment
ArcelorMittal Plans Upgrades at Burns Harbor
Written by Sandy Williams
March 23, 2019
ArcelorMittal is investing in upgrades at its Burns Harbor facility to make the plant more competitive and provide “growth and long-term sustainability” for the next several decades.
The company is asking the Burns Harbor Town Council for a tax abatement to help offset the $163 million in improvements the company plans to make during the next three to four years.
Approximately $44 million would be designated for non-discretionary projects that would update or replace aging and end-of-life equipment at the facility. Plans include two new charge cranes in the steel shop, a new coke discharge machine, and a new BOF vessel.
The rest, $199 million, would be for projects that would improve well-performing assets, including increased coil capacity at the hot mill, new coil binders, upgraded coil storage, and the installation of an in-line temper mill, reported the Chesterton Tribune.
“This is quite a significant investment in this plant and provides for the longevity of the facility,” said Susan Zlajic, ArcelorMittal director of state tax and government relations.
ArcelorMittal is currently installing two new walking beam furnaces at the mill that will increase productivity by 40 percent. The Council awarded the company a 10-year $134 million abatement for the project in 2017 that will commence when installation is completed. ArcelorMittal anticipates both furnaces will be installed by the fourth quarter of 2020 and will ramp up to full production in early 2021.
Sandy Williams
Read more from Sandy WilliamsLatest in Market Segment
Nucor targets ‘white hot’ data center boom
With infrastructure demand shifting toward digital capacity, Nucor Corp. is positioning itself as the go-to steel supplier for the data center boom.
Gerdau’s N. American earnings rise in Q3 due to fall in imports
Gerdau’s North American profits rose in the third quarter, boosted by a decline in imports due to Section 232 steel tariffs.
Ternium swings to Q3 loss, eyes 2026 recovery
Ternium closed the third quarter with steady shipments and improving margins. But trade policy uncertainty and subdued demand in Mexico weighed on the Latin American steelmaker’s results.
SMU Mill Order Index fell in September
SMU’s Mill Order Index declined in September after repeated gains from June through August. The shift came as service center shipping rates and inventories fell.
Algoma’s losses widen in Q3 as tariff troubles continue
Algoma Steel’s net loss more than quadrupled in the third quarter on trade woes and its EAF transition. Separately, the company announced a change in leadership, as CEO Michael Garcia will retire at the end of the year.