Integrated steelmaker US Steel has bought the remaining half of a cold-rolled, galvanized and tin mill joint venture in northern California.
The 1.5mn short ton (st)/yr USS-POSCO Industries (UPI) mill in Pittsburg, California, produces value-added steel products using hot bands primarily supplied by US Steel.
The original 50:50 partnership US Steel had with South Korean steelmaker POSCO began in 1986.
Financial terms for the deal were not disclosed.
The decision to consolidate control at the UPI mill comes as US Steel works toward purchasing the remaining 50.1pc of electric arc furnace (EAF) steelmaker Big River Steel in Arkansas. US Steel's chief executive David Buritt has called the purchase of Big River, which is doubling its production to 3.3mn st/yr and would be the company's first flat-rolled EAF, his top priority.
