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JSW Steel USA signs long term agreement with Allegheny Technologies

Capital Market 

For conversion of carbon steel slabs into hot rolled coils

JSW Steel USA Ohio Inc, a subsidiary of JSW Steel has signed a long-term agreement with Allegheny Technologies Inc. (NYSE: ATI) for the conversion of carbon steel slabs manufactured at JSW Steel USA's facility in Mingo Junction, OH into hot rolled coils at ATI's Hot Rolling and Processing Facility (HRPF) in Brackenridge, PA.

As per the terms of the agreement, ATI is expected to hot-roll a significant percentage of carbon steel slabs produced by JSW Steel USA. The agreement expands JSW Steel USA's ability to supply high quality hot rolled products required by its customers in the U.S thus enhancing its product portfolio.

Securing access to ATI's HRPF - one of the world's most powerful hot-rolling mills - enables JSW Steel USA to produce materials that maintain high-strength at high temperatures. At the same time, ATI increases its capacity utilization of its highly automated HRPF in a capital-efficient manner that provides a reliable source of operating cash flow.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, May 04 2021. 09:29 IST