CHICAGO (AP) — ArcelorMittal, the world's largest steel company, said Tuesday it will increase its output of quenched and tempered plate across its U.S. plate mills to meet the high demand for armor.
Quenching and tempering is a process used to increase the strength and hardness of steel plate, which makes it useful for protective skins on military vehicles and in nonmilitary applications.
ArcelorMittal said the U.S. government's high demand for armor limited the company's ability to meet commercial needs for the product.
Increased capacity is set for ArcelorMittal plate facilities in Coatesville and Conshohocken, Pa., and Burns Harbor and Gary, Ind.
The investments will go to updating equipment and material handling, allowing the company to increase output of quenched and tempered product by 50,000 tons.
The company plans to complete the improvements in phases next year without disrupting current operations.
ArcelorMittal shares fell $1.99, or 2.8 percent, in pre-market trading to $70.07, after closing Monday at $72.06.