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November 2003Electric-Arc Furnace to be Constructed by Wheeling-PittsburghWheeling, WV— Wheeling-Pittsburgh Steel Corporation broke ground for a $114.9 million Electric-Arc Furnace (EAF) at its Mingo Junction, Ohio plant. The EAF will replace one of the company’s two operating blast furnaces. Bradley explained that the new EAF ensures the company’s future by providing new technology that reduce costs, helps insulate the company from the impact of business downturns and significantly reduces capital investment requirements in the future to maintain operations. Bradley explained that an EAF typically uses recycled scrap steel and scrap alternatives as 100 percent of its feedstock. However, once the 14-month long project is completed, the Mingo Junction Plant will have the capability to feed both scrap and liquid iron stock from its remaining blast furnace into its EAF. The EAF process provides the company with the flexibility to change the metallic inputs to the EAF in response to the price of inputs in the market place. This enables the company to produce steel at the lowest possible cost. |