Company plans $2.2M expansion at U.S. Steel's Fairfield Works campus
3 December 2015
While layoffs and realignment are impacting U.S. Steel's Fairfield Works, another company could be one step closer to opening up shop on its campus.
The Jefferson County Commission on Thursday is expected to vote on a seven-year tax abatement package for Remuriate Technologies – an Illinois-based firm that regenerates acidic solutions used to clean or pickle steel, according to Othell Phillips, chief of staff for Commission President David Carrington.
Remuriate is not a subsidiary of U.S. Steel (NYSE: X), but plans to do business with U.S. Steel from a location on its Fairfield campus.
Phillips told the BBJ that the company bought the facility in December 2013, and plans a $2,250,000 capital investment for expansions that will generate 22 jobs over the next two years. The space was previously owned by Bailey Oxides, the assets of which were purchased by Remuriate in 2013.
Phillips also said the new expansion will look to work in collaboration with the new electric arc furnace technology being implemented at Fairfield Works.
The annual payroll for the facility over the next three years is expected to be about $1.4 million.
The company produces high quality iron oxide, which is used for magnets (hard and soft ferrites), ceramics, paints and plastics as a pigment, cosmetics, fire retardant building materials and foundry materials.