Republic Steel has announced plans to build an electric arc furnace and associated equipment at its steelmaking plant in Lorain, Ohio. The company will spend $85.2 million on the EAF project. According to Republic, headquartered in Canton, Ohio, the decision to build the EAF is due to strong demand for the company’s special bar quality (SBQ) steel. SBQ steel is often used for axles, drive trains, suspensions and other parts of vehicles.
According to Jaime Vigil, Republic’s CEO, the project will bring 449 new jobs to the Lorain area.
"This investment in our Lorain plant will help Republic Steel maintain its position as the industry leader in SBQ manufacturing," Vigil says. "The additional capacity created by the new furnace will allow us more flexibility and efficiency in delivering the highly engineered products our customers require."
According to Republic, the new furnace is expected to increase the company's steel production by one million tons per year. The EAF will also enable production of bloom cast for the production of SBQ bar and seamless tube rounds.
Construction of the electric arc furnace is scheduled to begin in 2012 and be complete in mid 2013.
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