Privately held Big River Steel in Northeast Arkansas has closed on its deal announced last month to make United States Steel Corp. a minority stakeholder of the company’s scrap recycling and steel production facility in Mississippi County.
Under terms of the agreement, U.S. Steel will hold a 49.9% ownership interest in the world’s only LEED-certified steel production facility. U.S. Steel’s investment will join majority ownership positions now held by Big River Steel’s executive management team, the Arkansas Teachers Retirement System, and the preferred equity ownership position held by Koch-owned KM BRS LLC and TPG Furnace L.P., an affiliate of Goldman Sachs vehicle TPG Growth.
Big River Steel closes deal with U.S. Steel, values Osceola mill at $2.3 billion
U.S. Steel Corp., based in Pittsburgh, will pay $700 million to take 49.9% ownership of Big River Steel, which was built near the Mississippi River, just south of Osceola, funded in part by Arkansas taxpayers. U.S. Steel has an option to buy the remaining 50.1% of the company within four years, the company said Tuesday in announcing the deal. Big River’s $1.3 billion mill opened in January 2017, after about two years of construction. The mill has about 550 employees, with average annual pay of $75,000, including bonuses. It remains the largest economic development project in state history.
U.S Steel to pay $700M for stake in Big River mill
LITTLE ROCK, Ark. (Sept. 10, 2019) - Mullenix & Associates LLC today announced Kelley Linck will join the firm in mid-October. With this addition, the firm will have seven members, including two former legislators and three attorneys, and a combined 65 years of experience with state legislative, policy and regulatory issues.
Inside cavernous blue hangars set on 1,100 acres of what was once soy fields abutting the Mississippi River, a succession of 300-ton scrap-filled buckets—the remains of old cars and refrigerators—await their turn at the furnace. Wailing sirens pierce the deafening rumble, and sparks fly as blindingly yellow flames rise up from the glowing ladle.
Green Steel: How Arkansas Became Home To America's Cleanest And Fastest-Growing Steelmaker
Zekelman Industries, the parent company of Atlas Tube, announced Tuesday (July 30) in Blytheville it will build the world’s largest continuous ERW tube mill on property adjacent to its existing Atlas Tube mill.
Zekelman Industries to build largest tube mill in the world in Blytheville, add 75 jobs
Le Bonheur Children’s Hospital has been named a Best Children’s Hospital by U.S. News & World Report. This is the ninth consecutive year Le Bonheur has been included in the prestigious list with recognition in eight specialties.
Le Bonheur named a Best Children’s Hospital by U.S. News & World Report
Big River Steel on Monday (June 3) announced it had closed on a debt-and-equity financing arrangement to expand its scrap metal recycling and flat-rolled steel production facility in Osceola, doubling current capacity to 3.3 million tons annually.
Big River Steel closes on $800 million debt-equity financing package to expand scrap metal capacity
When Arkansas Northeastern College opened its new Center for Allied Technologies, it consolidated three facilities, enhanced its role as a leader in custom training and education and brought the world to its doorstep.
Arkansas Northeastern College to Open Allied Technology Center
A touch of a button is all it took for one Prairie Grove teacher to save her student’s life. Brandy Carte, a special education teacher at Prairie Grove Elementary, credits her live-saving technique to something she holds right in the palm of her hand–her phone.
Prairie Grove teacher saves student’s life by using an app
Mississippi County is hatching long-term plans to spark population growth to go with the county’s job growth…
The declining numbers exist in the face of the county’s status as one of the largest steel-producing counties in the U.S., thanks to the presence of Nucor Corp. and Nucor-Yamato in Blytheville, Big River Steel in Osceola and steel accessories makers like Telling Industries in Osceola.