United States Steel Announces Restart of Construction of Electric Arc Furnace
United States Steel Corporation (X)
Last united states steel corporation earnings: 4/30 04:16 pm
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US:NYSE Investor Relations:
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Source: GlobeNewswire
PITTSBURGH, Feb. 11, 2019 (GLOBE NEWSWIRE) -- United States Steel Corporation (NYSE: X) today announced the restart of construction on a technologically advanced electric arc furnace (EAF) steelmaking facility at its Tubular Operations in Fairfield, Ala., located in Jefferson County. U. S. Steel previously initiated construction of the EAF in March 2015 and suspended construction in December 2015 due to unfavorable market conditions. “We are pleased to announce the achievement of the market and performance stage gates required to restart our Tubular Segment EAF. This investment is an important step to improve our cost structure and positions our Tubular business to win over the long-term. We are committed to investing in the sustainable steel technology required to be a value-added tubular solutions provider for our customers,” said President and Chief Executive Officer David B. Burritt. The investment to complete the EAF, which includes modernization of the existing rounds cast
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