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According to a Reuters report on December 4th, 27G120 Grain oriented electrical steel, U.S. Steel announced on Thursday that it has initiated procedures to restart one of the two blast furnaces at its Granite City steel plant, driven by customer demand.
U.S. Steel CEO David Burritt stated, 27G120 Grain oriented electrical steel, "After months of in-depth evaluation of customer demand, we have decided to restart one blast furnace."
The company is currently controlled by Tokyo-based Nippon Steel (stock code 5401.T) and temporarily shut down the blast furnace in 2023.
Buritt added, "We are confident that we can operate the steel mill safely and profitably to meet market demand in 2026."
A U.S. Steel spokesperson said the company expects to add approximately 400 employees to its Granite City, 27G120 Grain oriented electrical steel, Illinois plant to operate the blast furnaces, bringing the plant's total workforce to approximately 1,200.
The $14.9 billion acquisition of U.S. Steel by Nippon Steel was officially completed in June of this year, following an agreement with the U.S. government.
