Fives and Hyundai Steel Sign Coil Finishing Lines Contract
Hyundai Steel and Fives Group have signed a contract for the design and supply of advanced coil finishing lines dedicated to automotive steel applications.
The agreement supports the construction of a new flat steel mill in the US by Hyundai-POSCO Louisiana Steel, with a projected annual production capacity of 2.7Mt.
Frédéric Sanchez, Chairman & Chief Executive Officer of Fives Group, said: “We are proud to support Hyundai Steel and POSCO in this landmark investment, which will play a key role in advancing automotive steel production in the United States.
“We are confident the cooperation between our companies will further grow and strengthen through this new project in the United States.”
The new facility will produce 650kt of hot-rolled coil and 2.05Mt of cold-rolled coil annually.
Utilising a direct reduction plant-electric arc furnace (EAF) process, the mill will deliver high-quality, low-carbon steel products.
About 70% of the total output, roughly 1.8Mt per year, will be dedicated to automotive steel applications.
As the world’s first fully EAF integrated steel mill dedicated to automotive steel production, this facility will manufacture products that generate approximately 70% less CO₂ emissions compared to those produced via traditional blast furnace routes.