Mexican holding company Grupo Simec SAB de CV announced Monday that its subsidiary, Ohio-based Republic Steel has entered into a five year supply agreement with United States Steel Corporation, to provide Tube Rounds to the US Steel Tubular Products Division.
Under the agreement, Republic is committed to supply an annual minimum of 225,000 tons, but it could be as much as 450,000 tons, starting in January 2014. The steel will be produced in the new Electric Arc Furnace that is being installed at its Lorain, Ohio plant. The new plant will have an annual capacity of 1.2 million tons per year, and will start operations in the second half of 2013.