BlueScope Steel Plants a Much Bigger Flag in the U.S.
In announcing its year-end fiscal 2022 earnings, the company said that when the expanded mill achieves its full run rate in about 18 months from now, North Star will account for around 5% of total flat steel production in the U.S.
In the meantime, the company will be examining another potential project at the mill.
“Our growth ambitions continue, and we will now begin to assess a low-capital-cost hot strip mill debottlenecking opportunity at North Star, targeting a further 500,000 metric tons per annum of incremental steel production,” the company said in a statement.
Steel production aside, the company has been increasing its U.S. footprint in the past year, acquiring ferrous scrap steel recycling business of MetalX in Waterloo, Ind., and in Delta, Ohio, for approximately US$220 million in December. Additionally, a third scrap processing site was acquired this month.
Also, BlueScope acquired the Coil Coatings business from Cornerstone Building Brands and renamed it BlueScope Coated Products. The business is the second largest metal coil painter in the U.S., with around 900,000 metric tons of annual painting capacity, the company said.
“Altogether, BlueScope’s total investment in the U.S. is now around US$5 billion, with nearly 4,000 employees. The business network that we have assembled forms the exceptional backbone of our U.S. value chain and is well positioned for future growth,” the company said.