U.S. Steel Completes BRS Acquisition
By Metal Center News Staff
on Jan 18, 2021
U.S. Steel Corporation closed its acquisition of the remaining equity of Big River Steel for approximately $774 million. The transaction met customary closing conditions, including antitrust approval from the United States Department of Justice.
“Taking a page from the Big River Steel playbook, we are closing on this world competitive green steel asset purchase under budget and ahead of schedule,” said U. S. Steel President and CEO Officer David Burritt. “Our customers now have access to a truly sustainable source of the most advanced high-strength steels.”
Big River Steel is a LEED-certified Flex Mill in Northeast Arkansas. The company’s Phase II-A expansion, completed in November, doubled the mill’s hot-rolled steel production capacity to 3.3 million tons annually, establishing it as one of the largest electric arc furnace-oriented flat-rolled mills in North America.