Hyundai, Fives Group ink deal for coil finishing lines in Louisiana

Hyundai Steel and the Paris-based Fives Group announced the signing of a contract for coil finishing lines for the Hyundai-POSCO joint-venture steel mill proposed in Louisiana.

Recall that in December 2025, South Korea’s POSCO confirmed a 20% stake in the proposed EAF mill with fellow South Korean company Hyundai, which announced the project in March of last year.

The proposed facility, with an estimated investment of $5.82 billion, will produce 650,000 metric tons (mt) of hot-rolled coil and 2.05 million mt of cold-rolled coil annually. Operations are predicted to start in 2029.

“We are proud to support Hyundai Steel and POSCO in this landmark investment, which will play a key role in advancing automotive steel production in the United States,” Frédéric Sanchez, chairman and CEO of Fives Group, said in a statement earlier this month.

Further terms of the contract were not revealed.

Fives Group is a global industrial engineering company. It designs and supplies equipment and systems for steel, aerospace, aluminum, glass, logistics, and the automation industries.

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

Ethan Bernard

Latest in Company Announcements

Thyssenkrupp Materials Services acquires Mexico-based service center

ArcelorMittal Dofasco completes final coke push at No. 3 coke plant

World Steel Association names new director, new members

Nucor raises HR spot price to $1,045/ton