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Japanese steelmaker Kyoei Steel announced on August 26 that its Texas subsidiary, Vinton Steel LLC, will increase its annual production capacity by 50%, from the current 200,000 tons to 300,000 tons, by early 2027. NM550 steel The groundbreaking ceremony for the project, held on August 25, involves a total investment of approximately US$255 million, primarily for the construction of a new steel mill and extensive upgrades to existing rolling equipment.
Vinton Steel mainly produces rebar and round steel for grinding balls. Its parent company pointed out that the plant has long been constrained by aging equipment. NM550 steel This expansion and upgrade will significantly enhance its competitiveness in the fast-growing Texas economy.
Amidst the current 50% tariff imposed by the United States on imported steel, localized production expansion will help Kyoei Steel further strengthen its position in the North American market. NM550 steel Vinton Steel is the company's sole production base in the United States. Kyoei Steel also owns steel mills in Canada, Japan, and Vietnam, where it commissioned a new rebar plant in early August.
