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Republic to gain $1.3B in U.S. Steel billet supply deal

Keywords: Tags  Republic Steel, billet, U.S. Steel, Lorain, Grupo Simec, Industrias CH

NEW YORK — Grupo Simec SAB de CV, parent company of Lorain, Ohio-based Republic Steel, expects to make about $1.3 billion over the life of a five-year billet supply deal with Pittsburgh-based U.S. Steel Corp.’s tubular facility in Lorain.

“This contract alone will utilize 30 percent of the total capacity of this equipment, which will be coming into operation” during the second half of 2013, the Mexico-based company, a division of Industrias CH SAB de CV, said in a statement.

The supply deal, which is expected to kick off in January 2014, is for a minimum of 225,000 tons annually but could reach up to 450,000 tons (, April 29).

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