Acerinox : The Governor of Kentucky, Matt Bevin, inaugurates the new production lines of NAS, subsidiary of Acerinox in the USA, in the presence of the Ambassador of Spain in the USA, Pedro Morenés

Acerinox inaugurates the new production lines in the North American Stainless (NAS) plant in the presence of the Governor of Kentucky (USA), Matt Bevin; the Ambassador of Spain in the United States, Pedro Morenés; and the Consulate of Spain in Chicago, Consul General, Federico Palomera Guez, who were welcomed by the Board of Directors of the Group, led by its Chairman, Rafael Miranda, and its Chief Executive Officer, Bernardo Velázquez; as well as by the CEO of NAS, Cristóbal Fuentes, and its employees.

'With the opening of this new production line, North American Stainless - already a key member of Kentucky's primary metals industry - positions itself to capture a growing market as the nation's main producer of this specialty stainless steel', said the Governor, Matt Bevin, upon learning about the new bright annealing line and the cold rolling mill in which Acerinox has invested over 150 million dollars.

The Chairman of Acerinox, Rafael Miranda, emphasised in his speech 'the good business environment that Kentucky offers, as well as the importance of this investment for the future of the company, strengthening its competitive position and reinforcing the Group's leadership in the North American market.

Likewise, Bernardo Velázquez, Chief Executive Officer of the Group, highlighted that 'these new investments result in an increase of almost 10% in the plant's production capacity and they allow Acerinox to increase its range of products and expand markets'. Velázquez also wanted to emphasise that 'the new lines create products of higher added value, increase the steelworks and hot rolling capacity and improve competitiveness of the plant'.

With this new equipment, NAS begins to manufacture bright-annealed stainless steel. BA is a product with high annual consumption in the United States and is largely imported. The Group wanted to take advantage of this business opportunity and with this investment will become the main producer of this product in the United States.

This local production will allow our customers to enjoy quicker delivery times and competitive prices due to the advantages arising from transportation and imports.

The investment involves the creation of 36 new jobs which are added to the 1,406 employees already working at NAS. NAS is the undisputed leader in North America, accounting for almost half of the stainless steel production and a market share of 35%

60% of stainless steel distribution in the US is less than a day's travel away

The strategic location of Carroll County, Kentucky where NAS is located has several advantages from a logistical point of view. On the one hand, it has its own dock on the Ohio River, a navigable tributary of the Missis­sippi, which allows very competitive transport of raw materials.

The main consumption areas are found less than nine hours away by truck. This includes Chicago in the Midwest, New Jersey and Pennsylvania in the Northeast and South Carolina and Georgia in the South.

Other areas of the country are accessible by train.