Japan’s largest rebar producer Kyoei Steel has announced that it will invest about $230 million in its US subsidiary Vinton Steel LLC to strengthen its North American business and increase its production in the US.
Accordingly, within the scope of the investment plan, the company will build a new steel plant and partially modernize the existing old equipment at the rolling mill facilities at the Texas plant of Vinton Steel, increasing the latter’s reinforcing concrete bar and round steel capacity to 300,000 net tons per year. Additionally, by investing, Kyoei Steel aims to reduce costs and increase shipment volumes, thereby improving profits.
The construction works will start in December this year, with the start-up scheduled for January 2027.