.gif?width=220&height=200&mediaprotectionhash=b13da841472e6e7ed500ee35df2a350aaf53d75246118b33ea2095cc7e9a3fc4&ext=.gif)
AM/NS Calvert Investing $88 Million in Mobile, Ala., Facility
07/15/2015 - According to a report by AL.com, in a bid to further penetrate the automotive market and combat increased competition, AM/NS Calvert LLC is preparing to invest another nearly $88 million in its north Mobile County facility.
The county's Industrial Development Authority approved 9 July total ad valorem and sales tax abatements totaling roughly $8.5 million during the 20-year impact period for the requested 10-year abatements.
Oliver Turpin, a project management specialist for AM/NS Calvert's, said the "multi-activity" expansion project would – among other quality-centered improvements – allow for the production of two new high-strength steel varieties, one incorporating an aluminized coating used primarily by the automotive sector to combat corrosion and another non-coated material with a variety of applications.
In all, the 9 July request represents about half a dozen separate projects, slated to begin immediately and be completed in phases through the close of 2016, AM/NS Calvert spokesman Scott Posey said.
The estimated capital investment of $87,556,015 includes about $77 million in machinery and equipment and would incorporate nearly $24 million in locally-sourced construction labor and engineering services.
The project is also expected to create six new jobs within three years with average annual salaries of $65,000.
Specifically, the proposed expansion would include the following components:
ArcelorMittal and Nippon Steel & Sumitomo Metal Corp. purchased the former ThyssenKrupp Steel AG factory in Calvert for $1.55 billion in February 2014, making no secret of the joint venture's plans to increase automotive customers.
"Back when our facility was for sale, there were some questions about the sustainability of it and what it's future would be, and I think that those questions have been very soundly answered by our new owners and their nearly $160 million commitment to this facility that represents not only an investment in our facility but in the future of steel," Posey said.
Source: AL.com
Oliver Turpin, a project management specialist for AM/NS Calvert's, said the "multi-activity" expansion project would – among other quality-centered improvements – allow for the production of two new high-strength steel varieties, one incorporating an aluminized coating used primarily by the automotive sector to combat corrosion and another non-coated material with a variety of applications.
In all, the 9 July request represents about half a dozen separate projects, slated to begin immediately and be completed in phases through the close of 2016, AM/NS Calvert spokesman Scott Posey said.
The estimated capital investment of $87,556,015 includes about $77 million in machinery and equipment and would incorporate nearly $24 million in locally-sourced construction labor and engineering services.
The project is also expected to create six new jobs within three years with average annual salaries of $65,000.
Specifically, the proposed expansion would include the following components:
- Batch annealing facility
- Continuous anneal line improvements
- Hot dip galvanizing line upgrade
- 40 metric ton upgrade
- Automatic test line
- Lase protection building
- HDFL inspection
- Inspection sitting line cold inspection
ArcelorMittal and Nippon Steel & Sumitomo Metal Corp. purchased the former ThyssenKrupp Steel AG factory in Calvert for $1.55 billion in February 2014, making no secret of the joint venture's plans to increase automotive customers.
"Back when our facility was for sale, there were some questions about the sustainability of it and what it's future would be, and I think that those questions have been very soundly answered by our new owners and their nearly $160 million commitment to this facility that represents not only an investment in our facility but in the future of steel," Posey said.
Source: AL.com
