MI-TECH STEEL, INC. ANNOUNCES PLANS FOR NEW PICKLING AND COIL PROCESSING FACILITY.LOUISVILLE, Ky.--(BUSINESS WIRE)--August 5, 1996--Steel Technologies, Inc. (Nasdaq:STTX) announced that its joint venture company, Mi-Tech Steel, Inc., plans to construct and operate a new steel processing facility in Morgan County, Alabama Morgan County the most populated county in the Decatur Metropolitan Area, and the second most populated county in the Huntsville-Decatur Combined Statistical Area. Its name is in honor of General Daniel Morgan, of Virginia. As of 2006 the population was 115,237. , for pickling, slitting and cutting to length coils of flat-rolled steel. Mi-Tech Steel, Inc. headquartered in Louisville, Kentucky  “Louisville” redirects here. For other uses, see Louisville (disambiguation). , is a 50/50 joint venture between Steel Technologies Inc. of Louisville, Kentucky, and Mitsui & Co. Ltd. Of Tokyo, Japan. Steel Technologies is an intermediate steel processor and converter with eight production facilities throughout the U.S. and Mexico. Mitsui & Co. Ltd. is one of the largest Japanese trading companies in the world with over $200 billion U.S. dollars in revenue last fiscal year. The $25 million plant, which is expected to be completed in late 1997, will utilize the latest technology and have an annual processing capacity of 600,000 tons. Pickling is a cleaning process that involves the quality of processed steel by removing scale from the surface of hot-rolled steel. Slitting and cutting to length are further value-added processes to provide exact widths and length for sheet steel requirements. The plant will be located in close proximity to the Tennessee River Tennessee River Navigable river, Tennessee, northern Alabama, and western Kentucky, U.S. Formed by the confluence of the Holston and French Broad rivers in eastern Tennessee, it flows 652 mi (1,049 km) before joining the Ohio River in Kentucky. on an 80-acre site directly adjacent to the flat-rolled steel mini-mill currently being constructed by Trico Steel Co., a joint venture of LTV LTV See: Loan-to-value ratio Steel Co., Sumitomo Metal Industry and British Steel
British Steel was a major British steel producer, consisting of the assets of former private companies which had been nationalised, largely under the Labour Party government of Harold Wilson . "This new Decatur, Alabama, plant will be our first facility with pickling capabilities which represents our commitment to future processing growth and geographic expansion," said Stuart N. Ray, senior vice president of Mi-Tech Steel, Inc. "The pickling, slitting and cut to length lines will provide an outstanding opportunity for us to enter a new market regionally and expand our participation with existing customers and serve new ones," he added. "The transportation network with barge, rail and truck will allow us to competitively enter new markets." Mi-Tech Steel, Inc. currently operates two other production facilities. The original operation began in 1987 located in Murfreesboro, Tennessee; and the second facility began operation in 1990 in Greensburg, Indiana. Processing over 350,000 tons annually, these world-class facilities provide coil slitting, leveling and inspection for the appliance, automotive, office furniture and HVAC (Heating Ventilation Air Conditioning) In the home or small office with a handful of computers, HVAC is more for human comfort than the machines. In large datacenters, a humidity-free room with a steady, cool temperature is essential for the trouble-free industries. Steel Technologies and Mitsui & Co. Ltd. are also engaged in a second tri-venture with LTV Steel Co. consisting of two flat-rolled steel processing and storage facilities located in Perrysburg, Ohio, and Burns Harbor, Indiana Burns Harbor is a town in Porter County, Indiana, United States on the shores of Lake Michigan in Northwest Indiana and is part of the Chicago metropolitan area. The population was 766 at the 2000 census. . CONTACT: Mi-Tech Steel, Inc. Stuart N. Ray, 800-537-0113 or Steel Technologies, Inc. Kenneth R. Bates Bates , Katherine Lee 1859-1929. American educator and writer best known for her poem "America the Beautiful," written in 1893 and revised in 1904 and 1911. , 502/245-2110 |
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