U.S. Steel Corp. has purchased Double Eagle Steel Coating Company (DESCO), with plans to incorporate the line into its larger operation, the company said on Monday.
"We seek to create innovative solutions for our customers now and well into the future,” U.S. Steel President and CEO Mario Longhi said. “By increasing our operational footprint at Great Lakes Works, we are creating special synergies with our automotive customers as they seek to reach critical safety and fuel-economy standards."
Acquired from AK Steel, the 700,000 ton electrolytic-galvanizing line (EGL) will provide automotive customers with the highest-quality steel-coated products, utilizing a patented process as the only North American finishing line offering both EG (free zinc) or EGA (an iron/zinc alloy) coatings.
The transaction involved a one-time payment of $25.2 million, along with the transfer of assets and utilities to U.S. Steel Great Lakes Works. Facility staffing will remain undisturbed while U.S. Steel oversees a 90-day transition period.
U.S. Steel Corp., based in Pittsburgh, is a leading integrated steel producer and Fortune 200 company, with major production operations in the U.S. and Europe, and an annual raw steel-making capability of 24.4 million net tons.
Organizations in this Story
Want to get notified whenever we write about U.S. Steel ?
Next time we write about U.S. Steel, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.Sign-up for Alerts
- Analysis: Homeowners in Pennsylvania county pay highest property tax rate in U.S.
- 114,405 U.S. borrowers in default on student loans from private, nonprofit schools
- GEISINGER LIFE FLIGHT: Geisinger expands access to clinical trials through consortium with five other health systems
- GREATER CHAMBERSBURG CHAMBER OF COMMERCE: “Choosing an Appropriate Business Form”
- FRANKLIN COUNTY PA AREA DEVELOPMENT CORPORATION: Herbruck’s celebrates Franklin County warehouse in anticipation of new egg-producing facility
- GANNETT FLEMING, INC.: Gannett Fleming/WSP Joint Venture Serving as Construction Management Consultant for Durham-Orange Light Rail
- GREATER LEHIGH VALLEY CHAMBER OF COMMERCE: LGBT Business Council & Hellertown-Lower Saucon Chamber HALO Benefitting Valley Youth House
- GREATER CHAMBERSBURG CHAMBER OF COMMERCE: Ribbon Cutting: Penn National Golf Course Club House
- ERIE CHAMBER OF COMMERCE: Earth Day Cleanup at Independence Hill
- ERIE CHAMBER OF COMMERCE: National Collegiate Acrobatics & Tumbling Association National Championships