SeAH Group to Invest $155.3 Million to Build Special Alloy Plant in US

Specifications:

Name:

SeAH Group to Invest $155.3 Million to Build Special Alloy Plant in US

Location:

USA

Company:

SeAH Group

Estimated Cost:

$155.3 Million

Source:

https://www.kedglobal.com/

Introduction:

SeAH Group, South Korea’s major steel group said to be a steel supplier to SpaceX, is set to foray deeper into the US, the world’s biggest specialty metal market, with a $155.3 million investment to build a special alloy plant amid the escalating global space race.

Features:

SeAH Global Holdings and SeAH Supperalloy Technologies are new entities set up in the US this year to build the specialty metal plant. The latter is the special alloy manufacturing unit.

The company said it will determine the US plant's site soon.

Once the factory’s construction is completed it is expected to churn out 6,000 tons of special alloys annually, according to the company.

The upcoming US special alloy manufacturing facilities are expected to enable SeAH to more quickly and deeply penetrate the US space industry, which is the world’s No. 1 in space technology, with aerospace and defense household names such as Boeing Co., Lockheed Martin Corp., GE Aerospace and Pratt & Whitney.