A
joint venture between two steel companies — one of which is an Austin-based
company — will result in an investment of up to $10 million, creating as many
as 20 jobs at a processing and painting facility in Indiana.
Austin-based United
Steel Supply LLC is investing $10 million at Ports of Indiana - Jeffersonville
to open a steel processing and painting facility, according to an announcement.
The company purchased a 100,000-square-foot building at 5150 Maritime Road from
the port and entered a 75-year land lease on over 11 acres, according to the
announcement. Renovations are starting immediately and initial operations will
begin early in the third quarter.
United Steel is one
of the largest steel processors and distributors in the country and operates as
a joint venture with Fort Wayne, Indiana-based Steel Dynamics Inc., one of the
country's largest producers of carbon steel products.
"We're very
pleased to join the growth-minded ecosystem at Jeffersonville and enter a
long-term partnership with Ports of Indiana," said United Steel Supply
President Bret Curtis in a statement. "The Jeffersonville location offers
a unique value proposition, including first-class multimodal transportation
services, existing steel industry partners and a vibrant community that
encourages economic growth — all of which provide a competitive benefit for our
business and customers."
The new facility is
a quarter mile from Steel Dynamics's Jeffersonville facility which will be a
supplier for the new operation, according to the announcement. The port
location will be United Steel Supply's fifth facility; it has a presence in
Terre Haute, Indiana, Mississippi, Oregon and Texas.
The Jeffersonville
port is already home to a steel campus of metal processors that annually
handles more than two million tons of steel shipments via rail, truck and
barge.
"This is a
great, fast-growing company that provides high-quality steel for use in the
agriculture, commercial, industrial, and residential markets, and it's a
perfect fit for our port's steel campus," said Ports of Indiana CEO Jody
Peacock in a statement. "We're excited to provide United Steel Supply with
access to multiple transportation modes, synergies with existing port
companies, and a strategic competitive advantage to support long-term
growth."
United Steel Supply
is a leading distributor of Galvalume flat roll galvanized, pre-painted and
digital print-patterned steel coils used by the construction industry for metal
roofing and siding applications.
Ports of Indiana is
a statewide port authority operating three ports on the Ohio River and Lake
Michigan. Established in 1961, the port is a self-funded enterprise dedicated
to growing Indiana's economy by serving as a statewide resource for maritime
issues, international trade and multimodal logistics.
"We're thrilled
to welcome such a high-caliber company as the newest member of our
Jeffersonville port," said Jeffersonville Port Director George Ott in a
statement. "United Steel will not only create new high-paying jobs, but it
will also drive new business for other port companies."
At the end of
March, Ports of Indiana broke ground on a $1.3 million project that
includes construction of a new 1.2-acre storage area and purchase of a
70,000-pound capacity forklift.
The effort is
supported by a "Marine Highway" grant program to develop a barge
shuttle to move steel. The project is expected to increase barge shipments of
steel coils at its Jeffersonville location