Economy
72 Steel Group to Build $218M Steel Plant Near Pittsburgh
Written by Becca Moczygemba
May 15, 2023
New York-based steel producer 72 Steel Group LLC has announced plans to build a $218-million steel manufacturing plant in Aliquippa, Pa., near Pittsburgh, according to media reports.
The plant on a nearly 44-acre site will produce rebar and products widely used in construction, according to an article in the Pittsburgh Post-Gazette.
The current owner of the property in Beaver County, which previously housed the J&L tin mill, is looking forward to the revitalization of the area. “It’s what I’ve been hoping for. I think it could be a heck of a good job creation here, a tax base for the city,” owner Chuck Betters told local news outlet KDKA (CBS).
72 Steel business advisor Xiaoyan Zhang spoke to KDKA regarding the location for the facility. “We know that history, and so to build a steel mill here is exciting,” said Zhang. “Because this is an old industrial base, there will be a lot of talent, you know, that’s for hiring people and everything else.”
According to its website, 72 Steel was established in 2016 and its current businesses include steel processing, sales, and steel constructions.
By Becca Moczygemba, becca@steelmarketupdate.com
Becca Moczygemba
Read more from Becca MoczygembaLatest in Economy
New York state manufacturing index drops again in April
Firms were pessimistic, with the future general business conditions index falling to its second lowest reading in the more than 20-year history of the survey
Construction adds 13,000 jobs in March
The construction sector added 13,000 jobs, seasonally adjusted, in March, but tariffs could undermine the industry.
Supply chains, end-users brace for impact from tariffs
Supply chains are working through what the tariffs mean for them
ISM: Manufacturing expansion loses steam after two months of growth
US manufacturing activity slowed in March after two straight months of expansion, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.
Chicago Business Barometer rose to 16-month high in March
The Chicago Business Barometer increased for the third-consecutive month in March. Despite this, it still reflects contracting business conditions, as it has since December 2023.