After this week’s completion of ThyssenKrupp’s $1.55 billion deal to sell its Calvert, Alabama steel processing plant to a joint venture between ArcelorMittal and NSSMC, the new owners announced Friday the facility’s new name: AM/NS Calvert.
“AM and NS need no explanation. And we chose Calvert because we wanted all of you to feel an ownership and engagement with the name. This is your plant, and Calvert is your town,” Lakshmi N. Mittal, chairman and CEO of ArcelorMittal, said in a released statement.
AM/NS Calvert is capable of producing 5.3 million tons of steel in its hot strip mill—the facility also has a cold rolling mill and four hot dip galvanizing lines. As a condition of the deal, the owners agreed to buy 2 million tons of steel slab each year for the next six years from ThyssenKrupp’s Brazilian slab mill, Companhia Siderúrgica do Atlântico.