Mittal Plans to Restart 160-Inch Plate Mill in Gary, Ind.
CHICAGO, May 23 /PRNewswire-FirstCall/ — Mittal Steel USA is planning to restart the idled plate mill in Gary, Ind., due to strong market demand for plate products. The reopening of the 160-inch plate mill would create more than 200 jobs in Northwest Indiana and is targeted for September 2007.
In 1990, the mill underwent a major modernization program that included automatic hydraulic gauge control. The mill has the ability to produce plate up to 150 inches in width with lengths up to 1,500 inches desired by customers for better productivity.
“The reopening of the Gary mill would allow Mittal to meet the increasing demands of the energy market, which is forecasted to be strong for the next several years,” said Shelby Pixley, CEO Mittal Plate USA. “Largely due to the strength of this market, plate demand has grown significantly for large-diameter line pipe, wind towers, transmission towers, and tank cars.”
As previously announced, Mittal also plans to participate in the export market to take advantage of strong global demand for plate products in the construction, machinery and shipbuilding markets. Additionally, the reopening of the Gary mill will also enable Mittal to increase its heat-treat capacity for quench and temper product which, like wide-plate, is in strong demand.
“Mittal Steel USA will be recreating jobs that were previously lost,” said Dave McCall, United Steelworkers District 1 director. “This shows what can be accomplished when a company that is dedicated to the business works with the USW to produce steel products competitively on a global basis.”
About Mittal Steel USA
Mittal Steel USA, with its affiliates, is the largest steel producer in North America and the largest integrated steel producer in the United States. It serves a broad U.S. manufacturing base. The company was formed in April 2005 and consists of the former Ispat Inland and the former International Steel Group. It has operations in 12 states of the United States.
About Arcelor Mittal
Arcelor Mittal is the world’s number one steel company, with 330,000 employees in more than 60 countries. The company brings together the world’s number one and number two steel companies, Arcelor and Mittal Steel.
Arcelor Mittal is the leader in all major global markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. An industrial presence in 27 European, Asian, African and American countries exposes the company to all the key steel markets, from emerging to mature, positions it will be looking to develop in the high-growth Chinese and Indian markets.
Arcelor Mittal key pro forma financials for 2006 show combined revenues of USD 88.6 billions, with a crude steel production of 118 million tonnes, representing around 10 per cent of world steel output.
Arcelor Mittal is currently listed under the legal entity Mittal Steel NV on the stock exchanges of New York , Amsterdam (MT), Paris (MTP), Brussels (MTBL), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid (MTS) and Valencia.
Forward-Looking Statements
This communication contains forward-looking information and statements about Mittal Steel Company N.V. and Mittal Steel USA Inc. Forward-looking statements are statements that are not historical facts. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future events and performance. Forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 are generally identified by the words “believe,”"expect,”"anticipate,”"target” or similar expressions. Although Mittal Steel USA’s management believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of Mittal Steel Company N.V. securities are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Mittal Steel Company, N.V., that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in the public filings with the SEC made or to be made by Mittal Steel Company, N.V. including on Form 20-F. Mittal Steel Company, N.V. and Mittal Steel USA undertake no obligation to publicly update its forward-looking statements, whether as a result of new information, future events, or otherwise.
Mittal Steel USA
CONTACT: David C. Allen of Mittal Steel USA Communications,+1-312-899-3692