AvestaPolarit’s US subsidiary, AvestaPolarit Inc. is enhancing its capabilities in stainless steel long products through investments in new capacity and a long-term hire-rolling cooperation agreement with Allegheny Technologies Incorporated in Richburg, South Carolina.
The new project will provide capacity for AvestaPolarit to significantly grow its North American stainless steel long products manufacturing capability. AvestaPolarit’s total expenditure will amount to about USD 22 million. This comprises investments to enhance
AvestaPolarit’s own cold finishing capabilities for stainless steel long products, as well as a contribution to expand production capabilities at Allegheny Technologies’ rolling mill. Both of these production facilities are located in Richburg, South Carolina. The project includes
a conversion agreement, which gives AvestaPolarit access to hire-rolling stainless steel long products at Allegheny Technologies’ Richburg mill at competitive pricing over a 20-year period. AvestaPolarit and Allegheny Technologies have successfully co-operated on a conversion programme at the Richburg bar mill since 1994.
