US Steel Approves $300 Million Tranche of Nippon Steel Spending
The United States Steel Corp. Edgar Thomson Works steel mill in Braddock, Pennsylvania.
Photographer: Justin Merriman/BloombergUnited States Steel approved a $300 million investment to upgrade some of its facilities, advancing part of an $11 billion commitment by Nippon Steel Corp. after its takeover of the storied American steelmaker earlier this year.
A new slag recycler will be installed at the Edgar Thomson works in Pennsylvania for $100 million, while $200 million will go to improving the hot strip mill at the Gary Works in Indiana, US Steel said in a Wednesday statement.