President & CEO David B. Burritt, public
officials, customers, and employees gather to celebrate this
significant milestone for U. S. Steel’s Best for All® strategy,
sustainable steel solutions and the broader community
United States Steel Corporation (NYSE: X) (“U. S. Steel”) today
hosted a ribbon cutting ceremony for the opening of its new,
non-grain oriented (“NGO”) electrical steel line at its Big River
Steel facility in Osceola, Arkansas. The successful startup of the
line marks a significant milestone for U. S. Steel, as the line has
the capacity to produce more tons of NGO electrical steel per year
in the United States than any other domestic steelmaker, while
supplying sustainable steel solutions that are best for people and
the planet.
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The ribbon is officially cut at the
opening of U. S. Steel’s new non-grain oriented electrical steel
line. Pictured left to right: Robert Costello, Cold Rolling
Manager, Big River Steel Works; Mississippi County Judge John Alan
Nelson; Osceola, Arkansas Mayor Joe Harris, Jr.; Daniel Brown,
Senior Vice President of Advanced Technology Steelmaking and Chief
Operating Officer, Big River Steel Works; U. S. Steel President and
Chief Executive Officer David B. Burritt; Arkansas State
Representative Jon Milligan; Jim Bell, U. S. Steel Vice President –
Construction; and Tommie Kifer, Operations Manager, Big River Steel
Works. (Photo: Business Wire)
This new line is the latest example of U. S. Steel’s
customer-centric strategy, as it expands its portfolio of products
needed to serve growing markets and help customers meet their
sustainability goals. The key product that will be produced on the
line, InduX™, positions U. S. Steel as a crucial supplier for the
expanding electric vehicle market, as no electric vehicle, motor,
or generator today is operational without the steel grades needed
to transform electrical power into usable energy. The line is the
final step in a steelmaking process that utilizes up to 90% scrap
steel as raw material and reduces carbon emissions (Scope 1 and
Scope 2) up to 70-80% compared to traditional integrated
steelmaking, while producing sustainable, infinitely recyclable
steels like InduX™.
“The American manufacturing renaissance continues in Osceola
today, thanks to the innovative minds and hard work of our
employees,” said U. S. Steel President and Chief Executive Officer
David B. Burritt. “This investment will enable us to serve our
customers as they address growing markets, like electric vehicles,
with the knowledge that the steel they are receiving is not only
sustainable, but also mined, melted and made in America.”
Titled, “Energize the Future: EmPOWERing the Green Revolution,”
the event underscored how Big River Steel remains focused on
innovation and excellence, playing a key role in the industry’s
transformation to low-carbon steel production. It was one of the
first mills in the world to be LEED® certified and the first steel
mill in North America to receive ResponsibleSteel™ site
certification. The new line is the length of nearly eight football
fields at approximately 2,333 feet long, and with a 200,000-ton
annual capacity.
“Hundreds of our industry-best employees made today possible.
Every day, their dedication to this community and to American
manufacturing are building this country to be stronger and more
sustainable than ever before. This investment will allow our
customers to purchase more steel made here in the USA and help them
to meet their own sustainability goals,” said U. S. Steel Senior
Vice President of Advanced Technology Steelmaking and Chief
Operating Officer of Big River Steel Works, Daniel R. Brown.
A newly released economic impact study revealed, in 2022, Big
River Steel generated $383.2 million in total economic impact1,
contributing $16.3 million in state and local taxes, and supporting
and sustaining 1,747 jobs (direct and indirect/induced) that
provide workers and their families opportunity for upward mobility.
Big River Steel is projected to have $5.2 billion in construction
impact, based on $3 billion of direct spending over 4-plus years on
Big River Steel 2, the largest single investment in Arkansas’ state
history.
“Congratulations to U. S. Steel for opening their newest steel
line at Osceola’s Big River Steel facility. As this project shows,
when business, government, and communities work together, anything
is possible,” said Arkansas Governor Sarah Huckabee Sanders.
Following the full acquisition of Big River Steel in 2021, U. S.
Steel commenced construction of the NGO line in October 2022. The
$450 million project was completed on time and on budget.
###
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.
CAUTIONARY NOTE REGARDING 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. U. S. Steel intends
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,”
"plan," "goal," "future," “will,” "may" and similar expressions or
by using future dates in connection with any discussion of, among
other things, the construction or operation of new or existing
facilities or operating capabilities, operating or financial
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, potential capital and operational cash improvements,
changes in the global economic environment, including supply and
demand conditions, inflation, interest rates, supply chain
disruptions and changes in prices for our products, statements
regarding our future strategies, products and innovations,
statements regarding our greenhouse gas emissions reduction goals,
statements regarding existing or new regulations 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 and financial
condition may differ, possibly materially, from the anticipated
results and financial condition 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. The 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 the Company's historical
experience and its 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 the Company’s
Annual report on Form 10-K for the year ended December 31, 2022 and
those described from time to time in its future reports filed with
the Securities and Exchange Commission.
1 Total economic impact includes spending on operations, capital
expenditures, labor income expenditures, and value added to the
economy as a result of expenditures made by a corporation.
©2023 U. S. Steel. All Rights Reserved
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Amanda Malkowski Media Relations Manager Corporate
Communications T - (412) 736-2475 E - almalkowski@uss.com
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