U.S. Steel to acquire 49.9% interest in Big River Steel
2019-10-10 10:47:58 [Print]
United States Steel Corporation ("U.S. Steel") recently announced a joint venture partnership agreement under which it has taken the first step towards acquiring Big River Steel through the purchase of a 49.9% ownership interest at a purchase price of approximately $700 million in cash, with a call option to acquire the remaining 50.1% within the next four years.
Big River operates a LEED-certified, Flex Mill in northeast Arkansas that is the newest and most advanced flat-rolled mill in North America. Big River Steel's technological leadership allows it to produce a wide product spectrum, including advanced automotive steels and electrical steels. Big River Steel's recently announced Phase II-A expansion is expected to double the mill's hot-rolled steel production capacity to 3.3 million tons annually, establishing it as one of the largest EAF-based flat-rolled mills in North America.
Big River operates a LEED-certified, Flex Mill in northeast Arkansas that is the newest and most advanced flat-rolled mill in North America. Big River Steel's technological leadership allows it to produce a wide product spectrum, including advanced automotive steels and electrical steels. Big River Steel's recently announced Phase II-A expansion is expected to double the mill's hot-rolled steel production capacity to 3.3 million tons annually, establishing it as one of the largest EAF-based flat-rolled mills in North America.
