Commenting, Mr. Lakshmi Mittal, Chairman and CEO of ArcelorMittal said:
“An electric arc furnace at Calvert makes strategic sense as it allows our asset to be more reactive to the local market as well as being in line with the USMCA. Furthermore, it aligns with our ambition of producing smarter steels for a better world.”
Commenting, Brad Davey, CEO, ArcelorMittal North America said:
“The addition of an EAF at AM/NS Calvert presents a transformational opportunity for what is already widely considered to be the world’s most advanced steel finishing facility. This is a logical next step in optimizing AM/NS Calvert’s supply chain. Enhancing our already highly competitive lead times with short lead-time flexibility, combined with our existing world class facilities will give AM/NS Calvert a decisive competitive advantage. In addition, the USMCA trade agreement is a “game changer” for former NAFTA and as a result, future steel supply chains for the automotive markets will be required to use steel that was created within North America. A new EAF at AM/NS Calvert will further secure ArcelorMittal’s leadership in the North American Automotive market.”
AM/NS Calvert is the world’s most advanced steel finishing facility and further demonstrates the highly successful partnership between ArcelorMittal and Nippon Steel Corporation. AM/NS Calvert was originally built by Thyssenkrupp, with a total investment cost ~$4B USD and was acquired by ArcelorMittal and NSC as a 50:50 JV in 2014. The J/V has already invested more than $200M USD in strategic projects invested in Calvert since its acquisition. These capabilities, geographic location in combination with the new EAF will position the facility well for meeting automotive and energy market demand well into the future.
North America: Bill Steers; +1 312 899 3817; [email protected]