A subsidiary of Spain-based Acerinox, S.A., North America Stainless plans to expand its facility in Carroll County, Kentucky. NAS will invest $5 million to add a fourth steel slitter line.
To date, the company has invested more than $2.5 billion in its Carroll County facility, making it the largest Spanish industrial investment in the U.S. NAS, which also is the largest, fully integrated stainless steel producer in the nation, has more than 1,350 employees. The expansion, which is the company’s 10th since it began operations in Kentucky in 1990, will also include the addition of 15 new jobs at the Ghent plant.
Construction on the slitter line will begin in January 2015 and is expected to be completed in early 2016. Slitting is the process of cutting large rolls of steel into more narrow rolls. The stainless steel is used in a variety of products, including appliances, food service, plumbing, general manufacturing and the automotive industry.
“Our parent company, Acerinox, S.A., with its worldwide operations, has choices on where to invest,” said Cristobal Fuentes, President/CEO of North American Stainless. “We appreciate the Governor meeting with the executives of Acerinox, S.A. in Madrid and are very pleased that our parent company has again demonstrated its confidence in our employees, Kentucky and Carroll County by authorizing this investment. I know that with the continued support of Acerinox, S.A., Kentucky and the county that our employees will continue to compete globally.”
“North American Stainless and its parent company, Acerinox, S.A., continue to make substantial investments in Kentucky,” said Governor Steve Beshear. “This announcement demonstrates the company’s continued confidence in our workforce and business climate. We want to thank NAS for investing in Kentucky, and I look forward to working with the company to create even more success.”