Nucor Corp. reached agreements to acquire a majority ownership position in California Steel Industries (CSI) by purchasing a 50% equity interest from a subsidiary of Vale S.A. and a 1% equity ownership stake from JFE Steel Corp. (JFE). The company will be a joint venture between Nucor and JFE. CSI is a flat-rolled steel converter with the capability to produce more than 2 million tons of finished steel and steel products annually. The company has five product lines, including hot rolled, pickled and oiled, cold rolled, galvanized and ERW pipe.
Using the metaphor of cooking a steak to its desired level of “doneness,” this article examines the difficulties involved in “cooking” forging billets in induction coils to their most uniform level of completion.