United States Steel Corp. exercised its call option to acquire the remaining equity of Big River Steel for approximately $774 million. The transaction is expected to close in the first quarter of 2021. Big River Steel operates a LEED-certified Flex Mill in northeast Arkansas. The company’s advanced manufacturing technology and skilled operators combined with U.S. Steel’s product development capabilities and intellectual property have allowed Big River Steel to produce 11 advanced U.S. Steel grades.
U.S. Steel acquired a 49.9% ownership interest in Big River Steel on Oct. 31, 2019. Big River Steel offers high-quality products and services to customers in the automotive, energy, construction and agricultural industries. The company’s Phase II-A expansion doubled the mill’s hot-rolled steel production capacity to 3.3 million tons annually, establishing it as one of the largest EAF-oriented flat-rolled mills in North America.
“With Big River Steel, we can offer customers the high-performance, innovative steel products they expect from U. S. Steel’s scientists and application engineers made through a state-of-the-art, environmentally sustainable and efficient mini-mill process,” said David B. Burritt, president and CEO of U.S. Steel.