Grupo Simec S.A.B. de C.V. Announces its Subsidiary Republic Steel has Entered an Agreement with United States Steel Corporation
CANTON, Ohio, April 29, 2013 /PRNewswire/ -- Grupo Simec S.A.B. de C.V. (Simec) (NYSE: SIM, Mexico: SIMEC-B) announces that its subsidiary Republic Steel has entered into a five year supply agreement with United States Steel Corporation, to provide Tube Rounds to the U.S. Steel Tubular Products Division. Republic is committed to supply an annual minimum of 225,000 tons, but could be as much as 450,000 tons, starting in January 2014. The steel will be produced in the new Electric Arc Furnace that is being installed at its Lorain, Ohio plant which will have an annual capacity of one million two hundred thousand tons per year, and will start operations in the second half of 2013.
SOURCE Grupo Simec, S.A.B. de C.V.