Big River Steel is moving into new grades and gaining new customers – including an auto supply contract – as it continues to ramp up its new steel mill in Osceola, Arkansas, a company executive said.
Big River’s Flex Mill™, the first of its kind in the world, offers cleaner, more formable steels, the ability to adjust casting widths from thin to medium slabs and enhanced customer responsiveness by investing in leading-edge technologies.
A spotlight on the first LEED-certified steel production mill in the world.
Situated on 1,300 acres in Osceola, Ark., USA, Big River Steel was thought by the late John Correnti to be “Steel Mill Heaven.” Its location in the fastest-growing steel-consuming region in the U.S. is ideal, and its proximity to the Mississippi River and direct access to the BNSF Railway indeed lighten the load of shipping and logistics.
Big River Steel announced today that it closed on $1.225 billion of financing consisting of $600 million of Senior Secured Notes due 2025, a six-year $400-million senior secured term loan facility and a five-year $225-million asset-based lending facility.
Big River Steel announced today that, subject to market and other conditions, it intends to offer for sale up to $500 million aggregate principal amount of senior secured notes.
The availability of new technology that can capture real time data from operations at steel mills is changing the game, says Big River Steel CEO Dave Stickler. “We have 50,000 sensors installed in our mills. That really is opening-up a series of data that even 10 years ago was unimaginable,” says Stickler.
Big River Steel began commissioning its Ruhrstahl-Heraeus (RH) degasser this month and expects it will be up and running this summer, according to chief commercial officer Mark Bula.
If you think American capitalism is dead, and steel is a rusty relic of the last century, you are overdue for a trip to Big River Steel.