PITTSBURGH, March 19, 2015 /PRNewswire/ -- United States
Steel Corporation (NYSE: X) is pleased to announce two capital
investment projects valued at a total of $277.5 million. The first capital project
is the construction of a technologically advanced electric arc
furnace (EAF) steelmaking facility at its Fairfield Works in
Birmingham, Ala., located in
Jefferson County. The company will also construct a tubular
products coupling facility at Fairfield Works to manufacture
couplings with premium, semi-premium and American Petroleum
Institute (API) connections for customers in the oil and gas
industries.
"These investments will directly support U. S. Steel's
ongoing transformation journey," said President & CEO
Mario Longhi. "Together, these
projects will enhance our operational flexibility and allow us to
serve our customers better, two critical steps in creating
shareholder value."
The EAF is part of the company's larger transformation, The
Carnegie Way, in which a large number of initiatives to improve the
company's customer intimacy, operating flexibility, cost structure
and raw materials position are being implemented. The tubular
coupling facility is an integral part of the company's plan to
develop and manufacture oil country tubular goods (OCTG) products
with premium connections. The facility will feature four
coupling cells to manufacture couplings for all of
U. S. Steel's premium connections, including USS Liberty
FJM®, USS-Patriot EBM™ and USS-Patriot TC™ connections, for
customers in the energy industry.
U. S. Steel has received the necessary authorization and
economic incentives from Jefferson
County to invest $230 million
to construct the EAF at Fairfield Works in place of the facility's
existing blast furnace and an additional $47.5 million in the construction of the coupling
facility. The construction project will be a significant
investment into Jefferson County,
create approximately 650 temporary construction jobs over the
course of both projects and ensure the future of steelmaking in
Alabama.
Construction of the EAF will begin in the second quarter of
2015, with construction expected to be complete in the third
quarter of 2016. The construction on the coupling facility is
also anticipated to begin in the second quarter of 2015 and is
expected to be complete in the first quarter of 2016.
Throughout the process, U. S. Steel will continue to operate
Fairfield Works' steelmaking and
finishing operations to serve both flat-rolled and tubular
customers in accordance with market requirements.
United States Steel Corporation, headquartered in Pittsburgh, Pa., is a leading integrated steel
producer and Fortune 200 company with major production operations
in the United States and
Central Europe and an annual raw
steelmaking capability of 24.4 million net tons. The company
manufactures a wide range of value-added steel sheet and tubular
products for the automotive, appliance, container, industrial
machinery, construction, and oil and gas industries. For more
information about U. S. Steel, please visit www.ussteel.com.
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SOURCE United States Steel Corporation