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.
Big River Steel has partnered with Noodle.ai, a California enterprise artificial intelligence (AI) company, to implement the “world’s first smart steel production facility.” Big River is now equipped with AI systems to optimize maintenance planning, line scheduling, logistics operations and environmental protection.
Big River Steel today announced that it has established a new production record in terms of tons of steel produced by a SMS group supplied flat-rolled mini mill during the first full month of operation. With over 63,000 tons of hot rolled steel produced in January, Big River Steel’s first full month of production, Big River Steel topped the previous first month production record according to data maintained by SMS group, Big River Steel’s lead technology supplier.
The $1.3 billion Big River Steel mill under construction near Osceola is set to begin producing steel early next month.
The plant, built less than a mile from the Mississippi River, has enough orders booked to fill December, said Mark Bula, Big River’s chief commercial officer.
Big River Steel is actively in the market buying scrap and selling steel, the company’s top executive has confirmed. “Big River is open for business,” David Stickler, chief executive officer of the Osceola, Ark.-based steelmaker, said in a presentation Nov. 17 at AMM’s 10th Steel Scrap Conference and 4th DRI and Mini-mills Conference in Chicago. The company’s melt shop will begin consuming scrap in early December, and its entire mill is expected to be operational in the first quarter of 2017, Stickler said.
Big River Steel LLC has teamed up with the Center for Collision Safety and Analysis (CCSA) to research how advanced high-strength steels might make future vehicles safer. CCSA wanted to collaborate with a new steelmaker, like the Osceola, Ark-based start-up, rather than a “traditional, volume-type steelmaker,” Steve Kan, director of the CCSA and a professor at George Mason University, said in a recent interview with AMM.