NAS total investment of more than USD 150 million

Acerinox Group said on the October 29 that its U.S. subsidiary North American Stainless Steel (NAS) total investment of more than USD 150 million of the new bright annealing line and the new cold rolling mill was completed and put into production, and also held a grand ceremony.

MattBevin, governor of the United States of Kentucky, PedroMorenés, the Spanish ambassador to the United States, Federico PalomeraGuez,Spain Consul General of the Chicago Consulate were invited to attend the ceremony, Rafael Miranda, Chairman of the Acerinox Group, CEO Bernardo Velázquez, and Cristóbal Ferntes, CEO of North American Stainless Steel Company, and company employees took part in the celebration.

The completion of these investments will increase the capacity of stainless steel in North America by about 10% and expand the product range and market. The new production line can produce higher value-added products, increase steelmaking and hot rolling production capacity, also enhance the competitiveness of North American stainless steel companies.

With the new equipment, North American stainless steel companies began producing bright annealed stainless steel (BA surface stainless steel) to replace the massive imports, meet the growing North American market demand. Acerinox Group hopes to become the main producer of the United States BA stainless steel.