ArcelorMittal and Nippon to invest in Indiana steel plant

Source: Manufacturing Digital

Date :4/17/2008 5:24:52 AM

The world’s two biggest steelmakers ArcelorMittal and Nippon Steel said Wednesday that they would spend $240 million (€152 million) to expand the I/N Kote plant.

ArcelorMittal SA, the world's largest steel producer, said the two companies would build a new continuous galvanizing line that will double galvanized production at the New Carlisle plant which serves the motor industry. It will also provide high-grade steel sheets for the car industry.

Founded in 1991, I/N Kote is a 50:50 JV between ArcelorMittal and Nippon Steel.

Doubling production

The line will have an annual capacity of 480,000 metric tons. The facility currently produces 450,000 tons of hot dip galvanized and galvannealed sheet and 410,000 tons of electrogalvanized sheet annually.

Construction of the new line is expected to be completed by 2010, creating some 100 new full-time jobs.

April 17, 2008