Miller Applauds Steel Mill Announcement

Press Release

MILLER APPLAUDS STEEL MILL ANNOUNCEMENT

Congressman Jeff Miller (R-Fl-01) today applauded an announcement by ThyssenKrup AG which says it will build its new steel mill in Mount Vernon, Alabama, about 60 miles from Northwest Florida.

"This is a tremendous shot in the arm for our region," said Miller. "We are always trying to attract business into the State of Florida, but when something like this happens so geographically close to us you have to get excited. This has the potential to be the catalyst for a sustained job growth trend along the entire Gulf Coast. I don't think we would see the same opportunities in our area if the facility went to Central or South Florida."

ThyssenKrupp also announced today that it will now invest $3.7 billion in the facility, instead of the $2.9 billion originally planned. The new plant is scheduled to begin operations in 2010, and is expected to be one of the largest private industrial development projects in the U.S. over the next decade. Approximately 29,000 jobs will be generated during the construction phase. When it is fully operational, the plant will employ 2,700 people.

"Northwest Florida has so much to gain from this announcement," Miller continued. "Both skilled and unskilled labor will be needed and this is a colossal opportunity for the Port of Pensacola."

The new plant will be a jointly used hot strip mill with a capacity of up to 5.2 million metric tons per year. It will process 3 million tons of slabs from ThyssenKrupp CSA's steel mill in Brazil and produce 4.1 million metric tons of flat carbon steel end products per year. Cold rolling and hot-dip coating capacities will also be installed for premium carbon steel end products.

Source