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GFG Alliance's Liberty Steel USA signed a binding agreement to purchase all outstanding stock in Keystone Consolidated Industries from Contran Corporation for $320 million in cash less certain assumed liabilities. The deal adds KCI's 1.1mt electric arc furnace in Illinois and downstream operations.
GFG Alliance, through Liberty Steel USA, has completed the acquisition of Keystone Consolidated Industries (KCI) for $320 million from Contran Corporation. The deal creates one of the largest US wire rod producers and aims to grow US GREENSTEEL capacity to 5 million tons per annum by 2020.