NAS Announces $244 Million Expansion

North American Stainless Announces $244 Million Expansion,
Plans to Create 70 New Jobs at Kentucky Facility
13th Expansion Since 1990 Founding

GHENT, Ky. (Jan. 26, 2023) –North American Stainless (NAS), the largest fully-integrated stainless steel producer in the United States, will proceed with a $244 million expansion to its Ghent, Kentucky facility in Carroll County. The expansion will boost NAS’ total capacity by 200,000 tons annually—a 20% growth—meeting customers’ increasing demand for top-of-the-line stainless products. This expansion adds 70 new jobs to a plant, which already boasts nearly 1,600 employees and 500 on-site service providers.

“We are proud to lead America’s stainless steel economy, support our national security with our production and create great jobs for our region. Our latest expansion will bring more clean, sustainable and Americanmade stainless to consumers and directly compete with the subsidized imports of stainless,” said Cristobal Fuentes, NAS CEO. “NAS appreciates the steadfast partnership of Kentucky’s federal, state and local leaders who made today’s announcement possible, including Governor Andy Beshear and Senator McConnell. Our parent company Acerinox—one of the largest producers of stainless in the world—was eager to further invest in Kentucky to demonstrate its commitment to our customers and the U.S. market and because our workforce meets and exceeds all goals every year.”

For its 13th major expansion since 1990, NAS will build a new cold rolling mill, roll grinders, an extensive upgrade of its annealing and pickling lines to support the new rolling mill, a new temper mill and the expansion of the Melt Shop Building to include a 400-metric ton crane. The continued importation of subsidized stainless steel—and the accompanying national security threats—made the NAS expansion a pressing priority.

Kentucky Governor Andy Beshear praised the project. “I’m excited to announce more growth in Kentucky’s metals industry with this latest investment from North American Stainless,” said Gov. Beshear. “NAS is a leading stainless steel producer in the United States, and all the company’s production lines are located at the company’s headquarters in Carroll County. I want to thank its leaders for continuing to put their faith in Kentucky’s workforce and investing in the commonwealth. NAS is growing at an incredible rate, with this being the company’s 13th expansion since it was founded in 1990. I look forward to seeing NAS continue to grow and create more opportunities for Kentuckians.”

In 2019, Senator McConnell led the passage of a long-overdue U.S.-Spain tax treaty that delivered relief from unfair double-taxation on American companies like NAS. “In my role as Senate Republican Leader, I fight hard to help job-creators like North American Stainless secure better trade deals, develop new industrial technologies and pay lower taxes. As today’s announcement demonstrates, the conservative agenda I fight for in Washington is paying off for Kentuckians back home,” said Senator McConnell.

The new expansion will grow NAS’ 4.4 million-square-foot facility in Carroll County. NAS offers a full range of stainless flat and long products with competitive delivery times. Since all of NAS’ production lines are located onsite at its 1,600-acre headquarters, it is able to avoid supply chain and other delays that are common among competitors.

The Acerinox Group, based in Madrid, Spain, is on the leading technological edge of stainless steels and high performance alloys. It is the most global company in the sector, with a presence on five continents, factories on four continents and supplying to customers in 81 countries.