Union Pacific receives first rail from Rocky Mountain Steel's new $1.2 billion mill

Industry
โดย Business Wire·Read original
Summary · why it matters

Union Pacific Railroad has received the first stick of rail from Rocky Mountain Steel Mills' new long rail mill in Pueblo, Colorado, marking the official start of operations at the $1.2 billion facility. Union Pacific CEO Jim Vena visited the mill, which is the nation's only fully dedicated steel rail mill and one of the most advanced rail production lines in the world. The two companies recently signed a seven-year contract for domestic rail production, continuing a partnership that began in 1882. The new mill produces 100-meter lengths of premium rail that require 80 percent fewer welds than standard 80-foot rails, improving track safety and reliability. Rocky Mountain Steel, a subsidiary of Orion Steel, operates with electric arc furnace technology and is the world's first and largest solar-powered steel mill, with 750,000 on-site solar panels supplying up to 95 percent of its electricity.

Impact on stocks 1

Industrials · 1 stocks
Union Pacific Corporation
UNP
▲ PositiveSupplyrelevance

Union Pacific receives first rail from new mill and signs seven-year contract, ensuring reliable domestic rail supply.

Theme Impact 1

Off-coverage companies 2

Rocky Mountain Steel MillsPrivate▲ Positive
Demandrelevance

Rocky Mountain Steel's new mill begins operations and secures a seven-year contract with Union Pacific.

Orion SteelPrivate▲ Positive
Demandrelevance

Orion Steel's subsidiary Rocky Mountain Steel starts operations at new $1.2B mill with a seven-year contract from Union Pacific.

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