Governor Andy Beshear Celebrates North American Stainless $244 Million Expansion

1 February 2024

Kentucky Governor Andy Beshear joined local officials, executives from North American Stainless (NAS) and its Spanish parent company Acerinox, to celebrate the one-year mark of the Ghent facility’s $244 million expansion on Wednesday. The expansion will add 70 new jobs to the Ghent facility and will boost NAS’ total capacity.

“Metals is an ever-growing sector in Kentucky and one that touches every other industry,” said Gov. Andy Beshear. “North American Stainless is the largest producer of stainless steel in the United States, and I’m excited to join them today in celebrating this great milestone. I want to thank NAS leadership for continuing to put their faith in the commonwealth and our talented workforce. The company has grown at an incredible rate, and I look forward to seeing that growth continue in the coming years.”

With its 4.4 million-square-foot facility in Carroll County, NAS is the largest fully integrated stainless steel producer in the United States. NAS offers a full range of stainless flat products including slabs, billets, plate, sheet and strip, as well as long products including wire, rods, angles and rebar. Since opening in 1990, this is NAS’ 13th major expansion.

"We are thrilled to celebrate this expansion of our facility, a testament to our commitment to sustainability, economic growth in Kentucky, and supporting our national security,” North American Stainless CEO Cristobal Fuentes said. “NAS would like to extend its gratitude to Governor Beshear, state, federal and local officials for their partnership in making this expansion a reality. North American Stainless is proud to call Kentucky home. This expansion not only bolsters our capacity to provide consumers with sustainable, American-made stainless steel, but also positions us to compete effectively against subsidized imports of stainless steel.”

NAS’ plans for the project include a new cold rolling mill, roll grinders, and temper mill; an extensive upgrade of its annealing and picking lines to support the new rolling mill; and an expansion of the Melt Shop Building.

“This $244 million investment allows us to reinforce the circular economy, an area in which we serve as a role model, by adding new digital solutions to process the increased demand of stainless steel with improved productivity and efficiency,” Acerinox CEO Bernardo Velázquez Herreros said. “We are proud to invest further in our Kentucky factory North American Stainless, as it has established itself as a market leader both in the United States and across North America. At Acerinox, we are grateful to participate in the benefits of the Commonwealth’s leadership and robust economic development.”

NAS expects to complete the expansion by the end of 2025.