Steel Mills
U.S. Steel Finalizes Full Ownership of UPI
Written by Sandy Williams
February 28, 2020
U.S. Steel is now 100 percent owner of USS-POSCO Industries as of Feb. 29, 2020. The purchase of the remaining shares of the company from its Korean partner represents the best opportunity for UPI to continue operating effectively and serve its customers, said U.S. Steel in a press release.
UPI is headquartered in Pittsburg, Calif., and produces cold-rolled sheets, galvanized sheets and tin mill products from hot bands provided by U.S. Steel. Annual production capability is 1.5 million tons.
USS-POSCO Industries was formed in 1986 as a 50/50 joint venture with Korean steel company Pohang Iron and Steel. Since that time, a number of investments were made to modernize equipment and expand product offerings.
U.S. steel plans to operate UPI in the near term as a separate entity.
In other news, UPI was among the mills that announced a $40 per ton increase in the base price of hot rolled P&O, cold rolled and galvanized steel products, effective last Thursday on new orders.
Sandy Williams
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