ArcelorMittal Upgrading Indiana Facilities
Steelmaker ArcelorMittal is pumping millions of dollars into improvements for its Burns Harbor and Indiana Harbor operations. The company says it is part of a $138 million investment in U.S. Flat Carbon operations. The upgrades at Indiana Harbor will expand product capabilities and the Burns Harbor facility will add a new piece of equipment as part of a strategy to increase productivity and lower costs.Chicago, March 10, 2010 – Today ArcelorMittal announces it is moving forward with approximately $138 million in capital funding for three investments within its U.S. Flat Carbon operations. The Company’s Group Management Board and Investment Allocation Committee recently reviewed and approved the investments.
“These projects will improve the competitive position of ArcelorMittal USA by improving product quality and growing our leadership position in key markets,” said Michael G. Rippey, president and CEO, ArcelorMittal USA. “This marks a significant investment in our USA operations, further exemplifying our commitment to the revitalization of American manufacturing and production of safe, sustainable steel.”
“Capital investment in equipment and technology is crucial to the long-term viability of the company and the job security of its workers. I praise the joint United Steelworkers (USW) and management efforts that led to these facilities securing the capital investments, which will improve future prospects not only for members of the USW, but for all stakeholders who have an interest in the success of ArcelorMittal,” said Leo W. Gerard, United Steelworkers, International President.
“I am pleased to see ArcelorMittal make this major investment in its Northwest Indiana facilities, demonstrating its commitment to the continued vitality of steelmaking in the region. These projects will provide greater job security to local steelworkers and solidify steel’s position at the heart of our local economy for years to come,” said U.S. Representative Pete Visclosky.
The $138 million will support:
ArcelorMittal Indiana Harbor – The funds will allow the facility to upgrade its 84” Hot Strip Mill coiling capability, which will expand its product size range and improve quality. The upgrade will allow the facility to meet demand in the energy linepipe and heavy-gauge, water transmission pipe market by offering a complete range of sizes and grades to our customers. The project will also expand product capabilities to include ultra high-strength, hot rolled steels in a greater size range to serve the heavy equipment markets, including construction and agriculture. The coiler upgrade includes the installation of a state-of-the-art sampling station.
ArcelorMittal Burns Harbor – At Burns Harbor, the 160” Plate Mill will add a new, high-capacity leveler as part of the company’s overall plate heat-treating strategy which aims to provide customers with the broadest range of high-quality, heat-treated products at increased productivity and lower costs. The leveler will be sized for high-strength quenched and tempered products in a broad spectrum of gage, width, length and yield strengths which will allow participation in long-term growth markets such as mining and nuclear. ArcelorMittal has developed a holistic approach to this heat treat facility to improve flatness, surface and presentation quality of its products. Customers will also see improved delivery performance from quality and process flow enhancements at the Burns Harbor plate mill.
Hibbing Taconite – The mine will receive an upgrade to its assets with the purchase of two new haul trucks. The new trucks are expected to be in operation in the third quarter and will improve transportation of raw materials at the mine. Hibbing Taconite is a joint venture between ArcelorMittal, U.S. Steel and Cliffs Natural Resources.
ABOUT ARCELORMITTAL
ArcelorMittal is the world's leading steel company, with presence in more than 60 countries.
ArcelorMittal is the leader in all major global steel markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. With an industrial presence in over 20 countries spanning four continents, the Company covers all of the key steel markets, from emerging to mature.
Through its core values of sustainability, quality and leadership, ArcelorMittal commits to operating in a responsible way with respect to the health, safety and well-being of its employees, contractors and the communities in which it operates. It is also committed to the sustainable management of the environment. It takes a leading role in the industry's efforts to develop breakthrough steelmaking technologies and is actively researching and developing steel-based technologies and solutions that contribute to combat climate change.
In 2009, ArcelorMittal had revenues of $65.1 billion and crude steel production of 73.2 million tons, representing approximately 6 percent of world steel output.
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Brussels (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).