U. S. Steel Celebrates Investment in America with Strategic Pig Iron Caster at Gary Works
May 26 2022 - 5:19PM
Business Wire
- Multi-million-dollar investment at Gary Works to support
domestic supply chain
- Iron ore from U. S. Steel’s Minnesota Ore Operations will feed
caster
- Caster will produce 500,000 tons of pig iron to feed the
Company’s electric arc furnaces
United States Steel Corporation (NYSE: X) (“U. S. Steel”)
employees joined United Steelworkers (USW) leadership, key
partners, and elected officials to celebrate the Company’s
investment in a pig iron caster at its Gary Works facility. The
installation of the pig iron caster is a key part of U. S. Steel’s
metallics strategy, capitalizing on its iron ore advantage.
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the full release here:
https://www.businesswire.com/news/home/20220526005744/en/
Rendering of pig iron caster being built
at U. S. Steel Gary Works (Graphic: United States Steel
Corporation)
“Mined, melted and made in America has always been important to
us, and recent world events have demonstrated how critical
self-reliance is,” said U. S. Steel President & CEO David B.
Burritt. “This investment at Gary Works, to create the necessary
material for our lower-emissions electric arc furnaces, is the
perfect example of combining the best of integrated and mini mill
technologies. It’s also helping propel our transition to our
ambitious Best for All® strategy. We’re committed to a future of
driving profitable steel solutions for people and the planet.”
The pig machine will be fed with iron ore from the Company’s
Minnesota Ore Operations, Minntac and Keetac. The produced pig iron
is expected to supply up to 50% of the ore-based metallics needs
for Big River Steel Works.
“Gary Works is U. S. Steel’s largest manufacturing plant and its
role in the Company and in this community is significant,” said
Daniel Killeen, Vice President, Gary Works. “Knowing that the
nearly 4,000 employees at Gary Works are not just contributing
here, but we now get to utilize our blast furnace efficiency to
contribute to the company’s new, most environmentally friendly
operations at Big River Steel Works, is something we’re excited
about.”
Pre-construction for the caster began in the first quarter of
2022, and start-up is expected in early 2023. The $60 million
investment will bring approximately 25 new jobs to the
facility.
Gus Atsas, President, United Steelworkers (USW) Local 1014,
said, "The process of pigging iron will help secure our plant in an
ever-changing global market. The future of Gary Works and the
United Steelworkers go hand in hand. Our families and communities
depend on our success, and we are proud of the work we do every
day."
“U. S. Steel and their incredible workforce, including members
of the United Steelworkers, are the foundation of the Northwest
Indiana economy. I am grateful they are making this investment in
the steelmaking capabilities of our region and the ability of
future workers to continue to make the most environmentally
friendly and efficient steel in the world,” said Congressman Frank
Mrvan.
Cautionary Language on Forward-Looking Statements:
This 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,” "may" and similar expressions or by using future dates in
connection with any discussion of, among other things, operating
performance, trends, events or developments that we expect or
anticipate will occur in the future, statements relating to volume
changes, share of sales and earnings per share changes, anticipated
cost savings, statements regarding our future strategies 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. It is possible that the Company’s actual results may
differ, possibly materially, from the anticipated results indicated
in these forward-looking statements. 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 on this webpage and in “Item 1A. Risk
Factors” in our Annual Report on Form 10-K and those described from
time to time in our reports filed with the Securities and Exchange
Commission.
Founded in 1901, United States Steel Corporation is a leading
steel producer. With an unwavering focus on safety, the company’s
customer-centric Best for All® strategy is advancing a more secure,
sustainable future for U. S. Steel and its stakeholders. With a
renewed emphasis on innovation, U. S. Steel serves the automotive,
construction, appliance, energy, containers, and packaging
industries with high value-added steel products such as U. S.
Steel’s proprietary XG3™ advanced high-strength steel. The company
also maintains competitively advantaged iron ore production and has
an annual raw steelmaking capability of 22.4 million net tons. U.
S. Steel is headquartered in Pittsburgh, Pennsylvania, with
world-class operations across the United States and in Central
Europe. For more information, please visit www.ussteel.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220526005744/en/
Amanda Malkowski Lead, Media Relations Corporate Communications
T – (412) 433-2512 E – almalkowski@uss.com
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