US Steel hopes to save US$75 million by closing two old and outdated coke batteries at its Gary Works in Indiana, USA.
The close-down won’t mean job losses, claims US Steel, as most employees will be transferred to other parts of the plant and the mill will be serviced by its two remaining coke batteries where some of the displaced workers might end up.
The two coke batteries earmarked for closure are both nearing the end of their useful lives and will soon require costly maintenance work to remain viable, according to US Steel’s CEO Mario Longhi.
While two coke batteries are being closed down, US Steel is planning investment of US$60 million during Q4 2014. Most of the money will go towards relining an on-site blast furnace.
The Gary plant employs around 5,000 people.
• US Steel is closing down its iron and steel making facility in Hamilton, Ontario, Canada. The plant, which employs 800 people, was idled in 2010 when most of the workforce was given jobs in other parts of the plant.
Closure of the Hamilton facility is viewed by Longhi as ‘a sustainable improvement’ to the company’s cost structure.
• US Steel is dissolving its Michigan, USA-based Double Eagle Steel Coating Co.