India's JSW to Acquire Acero Junction
By Metal Center News Staff
on Mar 29, 2018
Just days after announcing its plan to invest $500 million at the JSW Steel USA Baytown, Texas, facility, India’s JSW Steel Group is making another push into the U.S. market. The company reportedly has agreed to acquire the Acero Junction facility in Mingo Junction, Ohio, for $80.9 million.
JSW entered a stock purchase agreement with JSM International Ltd., Acero Junction Holdings Inc. and Acero Junction Inc. for the acquisition.
Acero Junction had acquired the former Wheeling Pittsburgh facility in Mingo Junction in 2016. The plant, which had changed ownership several times earlier in the decade, had been idle for several years.
The facility has an electric arc furnace, caster and flat-rolling mill, with 3 million tons of capacity on its 80-inch-wide hot-strip mill. The company was reformed to provide hot-rolled bands to service centers, processors, cold-rolled strip producers, pipe and tube makers and, OEMs.