Home | Business News | Browse by Publication | M | Mississippi Business Journal

Announcement indicates growing market for steel in the South.

Article Excerpt
Plans by the giant German business conglomerate ThyssenKrupp AG to build a $3.7-billion steel mill 25 miles north of Mobile isn't causing heartburn for the new $880-million SeverCorr steel mill in Columbus. In fact, SeverCorr says that the decision by ThyssenKrupp AG shows that the Southern U.S. has a growing steel market that is under-supplied by regional producers.

"I think the ThyssenKrupp announcement probably reaffirms the decision we made a year and a half ago with an idea that started back in 2003 that the Southern U.S. steel market is a growing market," said Mike Wagner, chief commercial officer for SeverCorr. "As the automobile industry grows and other manufacturing of appliances and office furniture grows here in the South, customers like having suppliers nearby. We certainly are leading that concept with our facility, and ThyssenKrupp is doing the same thing."

When complete in the third quarter of this year, SeverCorr will have the capacity to produce 1.5 million tons of steel a year for use in the automotive,...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!