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US steel to acquire 49.9% stake in Dahe steel

Dec. 07, 2019

US steel to acquire 49.9% stake in Dahe steel

U.S. steel will acquire a 49.9% stake in big river steel, which operates a coated flat steel plant in Osceola, Arkansas. David B. Burritt, President and CEO of American Steel Company commented: "our new cooperation with Dahe iron and steel company aims to combine the production capacity of United Steel Plant and mini mill iron and steel, and accelerate the" two wins "strategy we provide to our customers. Dahe iron and Steel Co., Ltd. operates the most advanced and sustainable steel plant in North America. Our investment will eventually strengthen the company's competitive position in the highly strategic steel terminal market and create unparalleled value for its shareholders. "According to the announcement of an American steel company, the transaction value is estimated to be 700 million US dollars, and the expansion of Dahe steel company is expected to invest 2.325 billion US dollars. U.S. steel companies are likely to acquire the remaining 50.1% stake in Dahe steel within four years.

Dahe iron and steel company has a smelting workshop with a capacity of 1.45 million tons/year, a CSP production line, a cold rolling production line with a capacity of 816000 tons/year and a hot-dip galvanizing production line with a capacity of 408000 tons / year. The product range includes hot rolled coil with thickness of more than 0.8mm and width of 1930mm; cold rolled a coil with a thickness of 0.28-14mm and width of 914-1880mm; hot-dip galvanized coil with the thickness of 0.28-14mm and width of 901.7-1854mm. At present, Dahe iron and steel company is carrying out a US $1.2 billion capacity expansion project, which will increase the capacity of the plant to 2.72 million tons/year, and will be able to produce higher brand electrical steel products. Mr. Burritt added: "the investment in Dahe iron and steel company, together with the planned investment of American Iron and steel company in mon Valley plant and Gary plant will eventually enable the company to have three core market-oriented, differentiated and technologically advanced plants, which will enable American Iron and steel company to maintain long-term competitiveness with any competitor in any market area 。 Every factory can focus on using every device to produce the most appropriate product. "

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