US Steel acquires the most high-tech US steelmaker
On Tuesday, Big River Steel of Osceola announced an agreement with a Pittsburgh steel company founded in 1901 by Dale Carnegie. Under the agreement, US Steel will own 49.9% of Big River Steel and will be able to acquire the remaining 50.1% over the next four years.
Big River Steel began operations at its $ 1.3 billion Osceola plant in 2017 and announced a production expansion last year that will add 500 new jobs. The plant was Arkansas' first "super project" under a 2004 constitutional amendment that allowed the state to fund private projects to help attract large employers.
The Arkansas plant is considered the most high-tech enterprise in the US steel industry and will help US Steel compete in the high-strength steel market for the automotive industry with its competitors Nucor and Steel Dynamics
US Steel is an American steel company, the second largest in the United States and 26th in the world for 2017. In the list of the largest public companies in the world Forbes Global 2000 for 2018 U.S. Steel took 1429th place.