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voestalpine signs contract with Siemens and Midrex for Direct Reduction Plant

July 5, 2013

A consortium consisting of our U.S. group company, Midrex Technologies, Inc., and Siemens Industry Inc. signed a contract with the voestalpine Group to build a MIDREX® Direct Reduction Plant for voestapline in the United States.

The order ties in with Kobe Steel's Fiscal 2013-2015 Medium-Term Business Plan announced in May, with one aspect of the plan being to secure sales volume in growth sectors and regions. A concrete measure for the Engineering Business is to strengthen the competitiveness of the MIDREX® Process and maximize orders in this area.

The MIDREX® Process is gaining attention among steelmakers due to the shale-gas revolution in the United States. Natural gas prices have come down, making direct reduced iron production viable in North America, and Midrex Technologies has been receiving numerous inquiries.

Approaching its 30th anniversary this year as a group company of Kobe Steel, Midrex Technologies plays a major role in the global development of the direct reduced iron business. The Kobe Steel Group aims to steadily pursue business opportunities and secure orders in this field, as it works toward achieving the profit goals set forth in the Medium-Term Business Plan.

Please click below to view the news release issued by Midrex on the voestalpine order.