Hybar has raised $1.1bn to build a second environmentally sustainable scrap metal recycling steel rebar mill immediately next to its existing rebar mill in Arkansas.
The new mill will increase Hybar’s rebar production capacity to approximately 1.3m tons annually, representing just under 13% of the domestic market.
Clint O’Neal, executive director of the Arkansas Economic Development Commission, said: “Hybar is a true success story, building state-of-the-art facilities and producing sustainable steels using scrap metal in northeastern Arkansas,
“Hybar is continuing to invest in Arkansas thanks to our state’s infrastructure, workforce, and favourable business climate. We are proud of this growing partnership and look forward to many more years of Hybar’s success in our state.”
Hybar’s rebar is used in data centre projects, medical campus expansion and energy infrastructure buildout.
Dave Stickler, CEO of Hybar, added: “We have best-in-class technology, a great site with three modes of transportation, and outstanding highly motivated employees. But what truly differentiates Hybar is our ‘can-do, get-in-done’ culture.
“Empowering employees, stripping away bureaucracy, pushing decision making down to the mill floor, and constantly looking for better, faster, more sustainable ways to make steel are the keys to Hybar’s success.”
Construction of the project will take approximately two years, with the mill being supplied by SMS group.
