) announced that its plate mills in Burns Harbor, Coatesville and
Conshohocken are supplying 160,000 tons of high performance steel
to the unique new NY Bridge. The plate mills in the U.S. are
supplying their HPS70W high performance steel to two of the
projects' major steel fabricators - High Industries and
Hirschfield Industries Bridge - for bridge and girder
ArcelorMittal is supplying the steel for the new bridge because
its Eastern Plate mill is closely located to the fabrication
business. Both fabrication companies share a favourable business
relationship with ArcelorMittal.
ArcelorMittal supplies 100% of the plate products from its three
facilities. The Conshohocken plate mill provides lighter gauge
plate, wide and heavy plate are supplied by Coatesville and long
quench and temper plate are provided by Burns Harbor. This is a
unique combination that sets ArcelorMittal apart from any other
The 3.1-mile twin span cable-stayed bridge is the single biggest
bridge construction project in New York's history, and the
largest transportation design-build project in the U.S. The first
span of the new twin-span bridge is scheduled to open in 2016 and
is expected to complete in 2018. The new bridge will be
constructed to last 100 years without major structural
The bridge is being designed and constructed by Tappan Zee
Constructors, LLC (TZC), and a group of some of the world's
best-known design, engineering and construction firms, including
Fluor, American Bridge, Granite and Traylor Bros, Inc.
ArcelorMittal, the world's leading steel company, recently hosted
its Investor day. The company reaffirmed its 2014 outlook of 3.5%
to 4% growth in the global steel market.
ArcelorMittal highlighted its key value drivers and key
enablers including a strong balance sheet, active portfolio
management, a decentralized organizational structure and the best
talent. The company stated that its medium-term earnings before
interest, tax, depreciation and amortization (EBITDA) will be
$150 per ton.
Meanwhile, the company will streamline its management and
reorganize its steel businesses by geography effective Jan 1,
2014. External reporting will follow this structure under the new
segments: ACIS, Brazil (and neighboring countries), Europe,
Mining and NAFTA.
ArcelorMittal is a Zacks Rank #5 (Strong Sell) stock.
Other companies in the steel and related industries with
favorable Zacks Rank are
Norsk Hydro ASA
Century Aluminum Company
). While NN Inc. retains a Zacks Rank #1 (Strong Buy), Norsk
Hydro and Century Aluminum carry a Zacks Rank # 2 (Buy).
CENTURY ALUM CO (CENX): Free Stock Analysis
ARCELOR MITTAL (MT): Free Stock Analysis
NORSK HYDRO ADR (NHYDY): Get Free Report
NN INC (NNBR): Free Stock Analysis Report
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