United States Steel has formed a $93 million joint venture with Korean Steelmakers Posco and SeAH Steel to create a manufacturing facility capable of producing 300,000 net tons per year of spiral welded tubular products in the 24- to 64-inch outside diameter range. The new facility, which will be called United Spiral Pipe, LLC, will be located adjacent to USS-Posco Industries in Pittsburg, Calif. The facility, which will also have access to world-class coating capabilities, is expected to begin production in 2008.
U.S. Steel and Posco will each hold a 35% ownership interest in the joint venture, with the remaining 30% ownership interest being held by SeAH. Both U.S. Steel and Posco will supply high-quality hot roll coil for the spiral welded mill, and the joint venture will be responsible for marketing the finished products.
U.S. Steel Forms Joint Venture with Korean Steelmakers
April 5, 2007