[Ferro-Alloys.com] 

U.S. Steel Corp. recently bought the remaining 50.1% of Big River Steel.  The acquisition cost $774 million, while U.S. Steel spent about $700 million when it acquired a 49.9% stake in Big River Steel in November 2019. In its press release, the U.S. steel company stressed that its acquisition of the remaining shares was completed ahead of schedule with the approval of the relevant U.S. market competition authority.

U.S. Steel company president and chief executive officer David B.Burritt noted that corporate customers now have access to truly sustainable state-of-the-art high-strength steel sources. The customer-centric business philosophy of U.S. Steel will provide customers, employees, communities and investors with a world competitive advantage, including state-of-the-art technology and the intellectual capital needed to produce the most advanced products. The company is fully expected to achieve rapid profitability and growth in 2021 and build a more flexible, innovative and economically efficient company throughout the business cycle. Big River Steel Company operates a steel making workshop with a capacity of 2.72 million tons per year and a casting and rolling workshop with a capacity of 816,000 tons per year and a production line with a capacity of 408,000 tons per year.