Japan-based Kyoei Steel acquires mill near El Paso, Texas
Japan-based Kyoei Steel Ltd. has acquired a steel mill located in Vinton, Texas owned by the Bayou Steel Group.
According to a press release, Kyoei Steel paid US$ 52 million for the operation intended “to spread the risk of business investment, expand the global network of the company and enforce the revenue base of the foreign steel business”.
The production site, established in 1962, manufactures rebar steel used in construction and steel balls used by the mining industry as grinding materials.
The facility, located on 234 acres in the village of Vinton, will operate as Vinton Steel LLC.