U. S. Steel and Kobe Steel Announce $400M Investment in PRO-TEC

United States Steel Corporation X and Kobe Steel, Ltd. announced today that they have reached an agreement for their joint venture, PRO-TEC Coating Company in Leipsic, Ohio, to begin construction on a continuous annealing line at the facility. The project is expected to increase the joint venture's ability to serve its automotive customers. The capital investment for this project is approximately $400 million and is expected to create 500 temporary construction jobs as well as 80 full-time jobs once operating. PRO-TEC has obtained financing commitments for the project subject to final documentation and other closing conditions. Completion of the project would take an estimated 24 months.