U. S. Steel Announces State-of-The-Art Steelmaking Technology Investment at Mon Valley Works
May 02 2019 - 8:32AM
United States Steel Corporation (NYSE: X) announced today it will
invest more than $1 billion to construct a new sustainable endless
casting and rolling facility at its Edgar Thomson Plant in
Braddock, Pa., and a cogeneration facility at its Clairton Plant in
Clairton, Pa., both part of the company’s Mon Valley Works.
The cutting-edge endless casting and rolling technology combines
thin slab casting and hot rolled band production into one
continuous process and will make Mon Valley Works the first
facility of this type in the United States, and one of only a
handful in the world.
“This is a truly transformational investment for
U. S. Steel. We are combining our integrated
steelmaking process with industry-leading endless casting and
rolling to reinvest in steelmaking and secure the future for a new
generation of steelworkers in Western Pennsylvania and the Mon
Valley,” said David B. Burritt, President and Chief Executive
Officer of U. S. Steel. “U. S. Steel’s
investment in leading technology and advanced manufacturing aligns
with our vision to be the industry leader in delivering
high-quality, value-added products and innovative solutions that
address our customers’ most challenging steel needs for the
future. We believe that adding sustainable steel technology
to our footprint will create long-term value for our employees, our
region, our customers and our investors.”
The installation of endless casting and rolling technology will
give U. S. Steel a world-class asset that will improve
the quality and attributes of its downstream products for customers
in appliance, construction and industrial markets. With this
investment, Mon Valley Works will become the principal source of
substrate for the production of the company’s industry-leading XG3™
Advanced High Strength Steel (AHSS) that assists automotive
customers in meeting fuel efficiency standards. This project, in
addition to producing sustainable AHSS, will improve environmental
performance, energy conservation and reduce our carbon footprint
associated with Mon Valley Works. First coil production is expected
in 2022, contingent upon permitting and construction.
With this investment, U. S. Steel continues its more
than a century-long commitment to innovative steelmaking in
Pennsylvania. The technology will allow for optimization of the Mon
Valley Works and other U. S. Steel facilities without
increasing the company’s overall steelmaking capacity. The new
endless casting and rolling facility will replace the existing
traditional slab caster and hot strip mill facilities at the Mon
Valley Works. Current and future employees will enhance their
skills with more advanced manufacturing to operate and maintain the
new facility through training programs developed in partnership
with local universities.
As part of the project, U. S. Steel will also include
construction of a new cogeneration facility, equipped with
state-of-the-art emissions control systems at its Clairton Plant,
to convert a portion of the coke oven gas generated at its Clairton
Plant into electricity to power the steelmaking and finishing
facilities throughout U. S. Steel’s Mon Valley
operations.
Once completed, the new advanced steelmaking technology and
state-of-the-art cogeneration facilities will incorporate the best
available control technologies. Based upon current design and
engineering data that is accompanying our air permit
applications, we expect that the project will result in significant
improvements in emissions compared to the existing facilities to be
replaced, including reductions in emissions of Particulate Matter
(PM) of approximately 60%, PM10 and PM2.5 of approximately 35%,
sulfur dioxide of approximately 50%, and nitrogen oxides of
approximately 80%. The project exemplifies our continued
commitment to conserve resources and improve air quality in the Mon
Valley.
Additional details on the investment, including an investor
presentation, can be found at
http://www.ussteel.com/MonValleyInvestment.
FORWARD LOOKING STATEMENTS
This press release contains information that may
constitute “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. We
intend the forward-looking statements to be covered by the safe
harbor provisions for forward-looking statements in those
sections. Generally, we have identified such forward-looking
statements by using the words “believe,” “expect,” “intend,”
“estimate,” “anticipate,” “project,” “target,” “forecast,” “aim,”
“should,” “will” and similar expressions or by using future dates
in connection with any discussion of, among other things, operating
and environmental performance, trends, events or developments that
we expect or anticipate will occur in the future, and statements
expressing general views about future operating results.
However, the absence of these words or similar expressions does not
mean that a statement is not forward-looking. Forward-looking
statements are not historical facts, but instead represent only the
Company’s beliefs regarding future events, many of which, by their
nature, are inherently uncertain and outside of the Company’s
control. Such forward looking statements are not guarantees
of future performance. Management believes that these
forward-looking statements are reasonable as of the time
made. However, caution should be taken not to place undue
reliance on any such forward-looking statements because such
statements speak only as of the date when made. Our Company
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law. In
addition, forward-looking statements are subject to certain risks
and uncertainties that could cause actual results to differ
materially from our Company's historical experience and our present
expectations or projections. These risks and uncertainties
include, but are not limited to the risks and uncertainties
described in “Item 1A. Risk Factors” in our Annual Report on Form
10-K for the year ended December 31, 2018, and those described from
time to time in our future reports filed with the Securities and
Exchange Commission.
United States Steel Corporation, headquartered in Pittsburgh,
Pa., is a leading integrated steel producer and Fortune 250 company
with major operations in the United States and Central
Europe. For more information about U. S. Steel, please visit
www.ussteel.com.
CONTACTS:
Meghan Cox ManagerCorporate CommunicationsT – (412) 433-6777E –
mmcox@uss.com
Kevin Lewis General ManagerInvestor RelationsT – (412)
433-6935E – klewis@uss.com
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