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North American Stainless Investing $30M in Ghent, Kentucky

01/28/2011
North American Stainless (NAS) is investing $30 million in expansions and upgrades at its Ghent, Kentucky, facility. The company will invest $10 million to expand peeled bar production and $20 million towards equipment upgrades. NAS will also create 10 new jobs in Ghent.

"We are very pleased that our parent company, Acerinox, S.A., has authorized this investment and again demonstrated its confidence in our employees, Kentucky and Carroll County," said Cristobal Fuentes, president and CEO of North American Stainless.

The company plans to begin construction in the spring. It will add 35,000 square feet to the facility's Long Products plant. It expects to complete the expansion by the second quarter of 2012.

Acerinox has headquarters in Madrid, Spain. Its Ghent facility represents its largest Spanish investment in the United States. In total, it has invested more than $2 billion in its Ghent plant. It employs 1,355 people.

The aviation, automotive, chemical, plumbing, manufacturing, and food service industries all utilize peeled bar stainless steel.

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