A-State’s Center for Advanced Materials and Steel Manufacturing receives $10 million

by George Jared (gjared@talkbusiness.net)

A $10 million Congressional appropriation, led by U.S. Sen. John Boozman, R-Ark., will advance plans for the Arkansas State University Center for Advanced Materials and Steel Manufacturing to support the largest steel producing region in the country.

A-State will use the funding to invest in high-tech equipment for a multi-million dollar facility that will advance the rapidly growing steel industry in the Arkansas Delta and throughout Northeast Arkansas. The region is the nation’s leader in steel production, with more than 20 steel-related companies employing some 3,600 workers and another $3 billion in facilities under construction creating another 900 jobs.

The university anticipates close partnerships with steel manufacturers for research, process improvements, testing of advanced materials and steel manufacturing while training a growing, professional workforce for the industry and region.

A-State’s Center for Advanced Materials and Steel Manufacturing receives $10 million

U.S. Steel to be acquired in $14 billion deal

by Talk Business & Politics staff (staff2@talkbusiness.net)

U.S. Steel, which owns Big River Steel and other operations in Northeast Arkansas, is being acquired by Tokyo-based Nippon Steel Corp. in a $14.1 billion deal, the companies announced Monday (Dec. 18).

Nippon will pay $55 per share in an all-cash transaction, a 40% premium, for U.S. Steel. The companies said in a joint press release that U.S. Steel will retain its iconic name and headquarters in Pittsburgh.

Nippon Steel Corp. (NSC) is Japan’s largest steelmaker and one of the world’s leading steel manufacturers. The transaction has been unanimously approved by the board of directors of both companies and is expected to close in the third quarter of 2024.

U.S. Steel to be acquired in $14 billion deal

U.S. Steel to locate $3 billion steel mill in Northeast Arkansas

KUAR | By George Jared/ Talk Business & Politics

When Big River Steel first started operations in 2014 near Osceola in Mississippi County, it was one of the largest industrial projects ever in the state of Arkansas. BRS, now owned by U.S. Steel, is about to get a companion steel mill and it will rival the first plant in terms of money spent and jobs created.

U.S. Steel Corp. announced Tuesday it would locate a new $3 billion steel factory in Osceola, a move expected to create 900 jobs with an average pay over $100,000 annually. It is the largest capital investment project in Arkansas history.

The new optimized steel production facility is expected to feature two electric arc furnaces (EAFs) with 3 million tons per year of advanced steelmaking capability, a state-of-the-art endless casting and rolling line, and advanced finishing capabilities. Upon completion, the project will apply to become LEED certified, the company said.

https://www.ualrpublicradio.org/local-regional-news/2022-01-11/u-s-steel-to-locate-3-billion-steel-mill-in-northeast-arkansas

File Photo/Big River Steel

The Big River Steel mill when it was under construction. Now owned by U.S. Steel, it's about to get a companion mill.

U.S. Steel To Acquire Remaining Stake In Big River Steel

United States Steel Corp. is on the verge of becoming the sole owner of Big River Steel, the first “superproject” in the history of the Natural State.

U.S. Steel has exercised its call option to acquire the remaining equity of BRS for approximately $774 million from cash on hand. The company ended November with approximately $2.9 billion of liquidity, including about $1.7 billion in cash. The deal is expected to be completed in the first quarter of 2021, subject to satisfaction of customary closing conditions, including antitrust approval.

https://www.ualrpublicradio.org/post/us-steel-acquire-remaining-stake-big-river-steel

An aerial photo of the Big River Steel facility in November 2016. U.S. Steel Corporation is taking steps to acquire complete ownership of the plant.

CREDIT BIG RIVER STEEL