French engineering company Fives Group has announced the signing of a major contract to design and supply advanced automotive steel coil finishing lines for Hyundai Steel and the planned POSCO plant in Louisiana.
Low carbon sheet steel plant with a strong focus on Automotive
As SteelOrbis previously reported, the new plant represents a $5.82 billion investment and will produce 650,000 tons of hot-rolled coil and 2.05 million tons of cold-rolled coil per year. The manufacturer said the facility will use a direct reduction line-electric arc furnace to produce low-carbon steel. Approximately 70 percent of total production, equivalent to 1.8 million tons per year, will be dedicated to automotive steel production.
Hyundai Steel added that the project aims to strengthen the advanced automotive steel supply chain in the U.S., meeting demand from global automakers and supporting wider adoption in North America.
Fives will supply advanced coil finishing technologies
The company has been selected as supplier, according to Fives Group technology, providing advanced solutions for coil processing within the project. Fives said it has extensive experience in coil processing technologies, with recent projects in the United States, Mexico and China.
Frederic Sanchez, chairman and CEO of Fives Group, said the project will play a key role in developing automotive steel production in the United States and strengthening cooperation with Hyundai Steel and POSCO.
