CHARLOTTE, N.C., Aug. 5, 2016 /PRNewswire/ -- Castrip LLC announced today that it has signed a licensing agreement with the Shagang Group, a steelmaker based in China. The Shagang Group, with over 35 million tons of annual steel production capacity, will use the Castrip® process in conjunction with existing steelmaking furnaces to displace less energy-efficient casting and rolling mill facilities.
"We are very pleased Shagang is joining the Castrip family of licensees and expanding the use of this technology in markets around the globe," said Frank Fisher, President of Castrip LLC. "This agreement will help move the technology forward at an accelerated rate and enable the Shagang Group to use a much more energy-efficient and environmentally-friendly steelmaking process. Shagang Group has a successful 45 year history of adapting new technologies to grow and differentiate itself among the top steel producers."
The Shagang Castrip facility will be the first line built outside of North America. Last year, TYASA, a steelmaker in Mexico, announced plans to build a Castrip facility in that country. Nucor Corporation owns and operates thin-strip casting facilities in Crawfordsville, IN, and Blytheville, AR.
The Shagang Group will use the Castrip Technology for casting and finishing high strength, thin gauge sheet, with widths up to 1,600 mm and gauges from 0.7 mm up to 1.9 mm. By utilizing Castrip, the Shagang Group is replacing a more energy intensive casting and rolling process, resulting in less energy use and lower emissions – two important goals for China's steel industry. Estimated capacity is 500,000 tons annually per Castrip line. Hot commissioning of the new facility is scheduled for the fourth quarter of 2017.
Castrip LLC (www.castrip.com) is based in Charlotte, NC, and markets and licenses the intellectual property related to the twin-roll casting of carbon and advanced high strength steels. Castrip LLC currently holds more than 1,500 patents and patents pending worldwide related to strip casting.
Castrip is a registered trademark of Castrip LLC.
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SOURCE Castrip LLC