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France-based machine industry company Fives Group has announced the signing of a major contract covering the design and supply of advanced coil finishing lines for automotive steel applications.
Fives Group will design and supply advanced coil finishing lines for Hyundai Steel and POSCO's Louisiana mill.
KEY POINTS
- The Louisiana facility will produce 2.05 million mt of cold rolled coil annually, mostly for automotive use.
- The plant will use a direct reduction-electric arc furnace process to manufacture low-carbon steel.
- Seventy percent of the plant's output, or 1.8 million mt, will be automotive-grade steel for North America.
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