Nippon Steel Corporation announced additional project investments to be made at Mon Valley Works and Gary Works, as part of its pending acquisition (“Transaction”) of United States Steel Corporation.
- Mon Valley Works – Replace and/or Upgrade the Existing Hot Strip Mill and Other Facilities at Mon Valley: Nippon Steel will invest no less than $1 billion to enhance the competitiveness of the Mon Valley Works, including improving yield, increasing energy efficiency, improving product quality, and enhancing overall operating effectiveness. Nippon Steel plans to ensure Mon Valley Works operates for decades to come and will undertake the necessary investments so that it remains viable and provides jobs for future generations of steelworkers in Pennsylvania. As part of that commitment and following the closing of the Transaction, Nippon Steel will replace and/or upgrade the existing hot strip mill at Mon Valley Works and other facilities. Nippon Steel believes that a transformed Mon Valley Works will expand U. S. Steel’s ability to serve a broader range of markets and customers, create additional high-grade steel capabilities, strengthen the competitive positioning of Mon Valley’s blast furnace operations, and secure American steel supply.
- Gary Works – Revamping of Blast Furnace #14: Under Nippon Steel’s ownership, U. S. Steel’s blast furnace operations will benefit. As part of that, Nippon Steel will invest approximately $300 million to revamp Blast Furnace #14 at Gary Works. Through the revamping, the facility’s operational life is expected to extend by up to 20 years. Revamping Blast Furnace #14 will also allow U. S. Steel to realize significant operational benefits, while customers will benefit from the continuation of environmentally friendly blast furnace production at Gary Works as well as from Nippon Steel’s world-leading capabilities for automotive flat steel.
Courtesy of Nippon Steel.