Coil Coatings has a total annual capacity of around 900,000 metric tons across seven facilities, serving commercial and industrial construction applications.
 
In an official press release, BlueScope managing director and chief executive Mark Vassella said, “The acquisition of Coil Coatings is a significant step forward in our growth plans for North America. It almost triples our U.S. metallic coating and painting capacity to over 1.3 million metric tonnes per annum, from around 475,000 tonnes per annum at present, and gives us immediate and direct access to the large and growing Eastern U.S. region.”
 
With this acquisition, along with the company’s US$770 million investment in the expansion of its North Star operations, the US$220 million to establish BlueScope Recycling, and the investments in the BlueScope Properties Group, the company’s North American investments are now more than AU$4.5 billion (approximately US$3.3 billion), with more than 4,000 employees.
 
“As a global leader in painted steel products for building and construction applications, this deal hits our sweet spot. The Coil Coatings business complements our existing North American asset base on the West Coast (through the NS BlueScope Coated Products joint venture). We had previously flagged interest in expanding painting operations into the Eastern U.S. region via a greenfield paint line. Today’s acquisition provides BlueScope with a rare opportunity to immediately fulfil this strategic growth initiative with Coil Coatings’ outstanding portfolio of assets,” Vassella added.
 
The transaction is expected to close this year, subject to regulatory approval.