GE Appliances Invests $150 Million in U.S. Suppliers in Reshoring Push — WSJ

Dow Jones Newswires

By Liz Young

GE Appliances said it has awarded $150 million in contracts to American suppliers as it prepares to move manufacturing of some product lines to the U.S. from China.

The 22 suppliers will provide steel, resin, parts and components for GE Appliances to make washers and combination washer-and-dryer machines at a renovated factory in Louisville, Ky.

GE Appliances, owned by China's Haier Smart Home, said the suppliers are located across 10 states, including four suppliers in Kentucky, four in Tennessee and three in Indiana. The value of the contracts ranges from about $330,000 to roughly $41 million.

The investment adds to the company's plan announced earlier this year to spend $3 billion over the next five years to expand and modernize its U.S. factories, a move that is expected to help blunt the effects of new U.S. tariffs by reshoring some work now done in China and Mexico. The effort includes a $490 million expansion of the washing-machine factory at the company's home base in Louisville.

The contract awards come as companies increasingly seek to work more closely with their suppliers to help cut costs, control exposure to tariffs and avoid disruptions like those seen during the Covid-19 pandemic.

Ashley Eckert, senior director of sourcing at GE Appliances, said the company's new contracts are part of a shift to involve vendors from the beginning of development rather than waiting until designs are complete.

"That early collaboration, we felt like it's going to help us for design, for manufacturability, reduce lead times overall, stay competitive, and then ultimately drive a better product for both our customers and the consumer," Eckert said.

Eckert said that, as an example, one part was redesigned using a supplier's input to reduce the cost by 25%.

Suppliers say the contracts will allow them to invest in their own operations to increase production capacity.

Jones Plastic, which makes products such as the glass-and-plastic top lid of washing machines and is a longtime supplier of GE Appliances, plans to hire staff and buy more injection-molding machines and material-handling equipment.

The contract award enables Jones Plastic to "present a little bit more of a high level of confidence for what the future holds by continuing to make those investments," said Ryan Jones, co-owner and chief operating officer of the Louisville-based company.

Ethan Hamblen, chief executive of Franklin Park, Ill.-based RCM Industries, which makes aluminum die-cast parts, said he plans to buy about $5 million to $10 million of new equipment and hire at least 30 people because of the contract.

GE Appliances' largest supplier, U.S. Steel, said the deal has opened up a discussion about what else the appliance maker could purchase from the steel manufacturer.

"It moved the conversation from 'sell and buy components' to what strategically we can do together," said Marcos Corradin, the company's director of marketing and strategy.

Manufacturers have been looking to work more closely with suppliers to make their supply chains into a competitive advantage after widespread disruptions during the pandemic.

"It used to be just companies competing with companies, but now it's supply chains competing with supply chains," said Phillip Coles, a supply-chain professor at Lehigh University in Pennsylvania.

Tariffs introduced this year on U.S. imports have led some businesses to look at sourcing more products domestically, which requires finding out what's possible to source in the U.S., said Rob Handfield, a supply-chain management professor at North Carolina State University.

Some companies are "starting to become much more integrated and closely involved with suppliers, because they're recognizing they have to work together to solve these problems," Handfield said.

GE Appliances, which also makes products such as refrigerators, ovens and dishwashers, said it expects to begin production of washers and combination washer-dryers in Louisville in early 2027.

Write to Liz Young at liz.young@wsj.com

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Nippon Steel Expects Big Profit Return From U.S. Steel Investments — WSJ

Dow Jones Newswires

United States Steel

0.00%

By Bob Tita

Nippon Steel said its investments in U.S. Steel's plants and operations will more than triple the Pittsburgh steelmaker's profitability, compared to what it was as a standalone company.

"It truly shows the potential that this partnership has," said Kevin Lewis, U.S. Steel's chief financial officer. "U.S. Steel is in a very solid position right now."

Nippon Steel forecasts that its $14 billion of pledged investments will eventually contribute an additional $3 billion a year to U.S. Steel's adjusted earnings before interest, taxes, depreciation and amortization
U.S. Steel, which was acquired by Nippon Steel earlier this year, reported $1.4 billion of adjusted Ebitda in 2024, down from $2.1 billion in 2023.

Tokyo-based Nippon Steel is rolling out nearly $11 billion of its overall spending commitment to upgrade the performance and capabilities of U.S. Steel's existing mills.

The work list includes revamping the company's largest blast furnace in Gary, Ind., and replacing the steel rolling mill at Mon Valley Works near Pittsburgh by the end of 2028. The company said additional product lines and a new steel mill also are planned.

Nippon Steel expects after 2030 that the plant improvements will contribute $2.5 billion to profit and operating and management efficiencies to generate an additional $500 million.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

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Want to mimic what stocks the US buys? There may be an ETF soon

Moneycontrol

Wall Street is riding this era of American state capitalism — tracking it, packaging it and offering it back to investors through a new ETF.

Roundhill Financial Inc. has submitted paperwork to launch an exchange-traded fund that would replicate the US government’s capital allocation strategy. The move comes as federal officials take an increasingly direct role in markets under Donald Trump’s industrial strategy: acquiring equity stakes in strategic sectors, tying conditions to public funding and asserting influence over corporate decisions.

If approved by the US Securities and Exchange Commission, which is currently affected by the shutdown, the Roundhill USA Government Portfolio ETF (proposed ticker: USAG) would track flows into industries that would reflect the US government’s investment strategy. Treasury Secretary Scott Bessent has said the White House is targeting, among other things, industries vital to national security to reduce America’s dependence on China.

What began as a tactical response to supply chain disruptions and competition with China is starting to look like the new norm. By following federal capital, the ETF turns a political worldview into an investable thesis.

This ETF “demonstrates an attempt to monetize this administration’s far more activist approach toward certain industries and companies,” said Steve Sosnick, chief strategist at Interactive Brokers. “It’s a fascinating sign of the times that a fund of this type might be launched.”

Lithium Americas Drifting Back Toward Earth | Stock soared after deal with US before paring gains

Among the government’s reported stakes: 10% in Trilogy Metals Inc., a $400 million position in MP Materials Corp., roughly 5% in Lithium Americas Corp., a “golden share” in United States Steel Corp. and 10% of Intel Corp.

The fund could be mistaken for another entry in the crowded world of thematic ETFs — where investing meets storytelling, and narrative often outruns performance. But its premise reflects something deeper: a shift in how markets now price political will.

“It’s an interesting idea, but it sounds like just another flavor-of-the-month ETF,” said Jack Ciesielski, an investor and accounting analyst at R.G. Associates, of the filing. “More duck food for the ducks.”

To be sure, government investments are typically disclosed after the fact — once speculation of a deal has already moved markets. That means any ETF attempting to mirror those positions may enter after the biggest gains have been made, limiting its potential for outperformance.

Critics warn that the government’s heavy-handed tactics risk distorting markets and shifting the balance of power between the state and the private sector. But some proponents argue it’s long overdue for Washington to play a stronger investment role in the economy. Count Peter Tchir of Academy Securities as a supporter.

“Production for Security is going to be a driving force for government, corporate and asset manager policy,” he said, calling the trend “the new ESG” — a theme he believes could soon shape markets just as sustainability once did. “Owning what the government is buying makes sense on multiple levels.”

Tchir is now developing indexes that go beyond just mirroring public holdings to capture a broader investment thesis.“As a massive consumer, the government can direct its spending to these companies,” Tchir said. “Whether just as a signal or with encouragement from the government, companies we invested in should benefit.”

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Atlas Completes Acquisition of Steelmaker EVRAZ North America; Forms Orion Steel and Appoints Doug Matthews CEO

Dow Jones Newswires

United States Steel

0.00%

Orion Steel Companies is Comprised of Rocky Mountain Steel Mills, Oregon Steel Mills, and Interpro Pipe and Steel

GREENWICH, Conn.--(BUSINESS WIRE)--July 31, 2025--

Atlas Holdings ("Atlas") today announced the formation of the Orion Steel Companies ("Orion Steel" or "the Companies") following the completion of the previously announced acquisition of EVRAZ Inc. NA and EVRAZ Inc. NA Canada and their respective subsidiaries (together, "EVRAZ North America"). Leading the newly created Orion Steel as Chief Executive Officer is former U.S. Steel executive Doug Matthews.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250731856704/en/

In June, Atlas announced an agreement to acquire EVRAZ North America, a leading producer of engineered steel products in the United States and Canada for rail, energy, infrastructure and industrial end markets. Matthews succeeds Skip Herald, who guided the company through significant challenges since 2019 and will continue his service as a member of the Orion Steel Board of Directors.

Orion Steel includes Rocky Mountain Steel Mills in Pueblo, Colorado; Oregon Steel Mills in Portland, Oregon; and Interpro Pipe and Steel in Regina, Saskatchewan and locations across Alberta, Canada. Each of the companies' names were inspired by the legacies of their steel operations, honoring their roots while beginning a new era. Collectively, the Companies employ 3,400 skilled associates across two electric arc furnace steel facilities, 12 steel product mills and 17 scrap recycling facilities and have a steelmaking capacity of 2.3 million tons and finished steel capacity, including tubular products, of 3.5 million tons. Orion Steel products regularly contain 98%+ recycled scrap material and Rocky Mountain Steel is the world's largest solar-powered steel mill and the largest rail supplier in North America.

"As a well-capitalized strategic supplier, Orion Steel is poised to become a central player in the North American market, helping to ensure economic and security interests of the United States and Canada are advanced through significant, local production," said Doug Matthews, CEO of Orion Steel. "I've been in this business for three decades and I am completely energized by this unique opportunity. This is a historic operation heading into a bold new chapter.

"I've seen the look in steelworkers' eyes when they push an operation to new heights. We are going to see that same look from our team members across all Orion Steel facilities as we write the next chapter of this essential North American steelmaker," added Matthews. "We have a partner in Atlas with a stellar record in the United States and Canada of building great industrial companies over the long-term. And Atlas is committed to ensuring we have the human and financial capital we need, and the strategic guidance, to achieve lasting success."

"We were looking for the right leader to guide this business into its next chapter — someone with deep industry knowledge and a proven track record," said Atlas Partner Sam Astor. "Doug offers more than just decades of experience in operations, sales, marketing and supply chain management. He brings a forward-thinking, hands-on approach that helped transform U.S. Steel's commercial strategy and operations, and he has the deep belief that the heart of this business is the people on the ground, running the mills day in and day out --and he works to empower them to perform at their best."

In his 33 years with U.S. Steel, Matthews played an essential role in revitalizing its commercial strategy and operations, ultimately serving as Chief Commercial & Technology Officer, Tubular and Mining Solutions. He joined the company in 1988, rising through company ranks from plant leadership in Pittsburgh, Pennsylvania to operations leadership as a member of the executive team.

"This is a critical time in the global steel market. We're ready to meet the challenges and seize the opportunities, and we are excited to be playing a role in ensuring the long-term of strategic steel production in the United States and Canada," Astor added.

About Orion Steel Companies

Orion Steel owns and operates Rocky Mountain Steel Mills, Interpro Pipe and Steel, and Oregon Steel Mills. As a leading North American producer with a more than 150 year legacy, the Orion companies manufacture engineered steel products for rail, energy and industrial end markets, delivering a broad selection of specialty steel solutions to meet customers' demands in the United States and Canada. Learn more at orionsteel.com.

About Atlas Holdings

Headquartered in Greenwich, Connecticut and founded in 2002, Atlas and its affiliates own and operate 29 companies which employ more than 60,000 associates across 375 facilities worldwide. Atlas operates in sectors such as automotive supply, building materials, capital equipment, construction services, food manufacturing and distribution, metals processing, packaging, paper, power generation, printing, pulp, supply chain management and wood products. Atlas' companies together generate more than $20 billion in revenues annually. To learn more, please visit atlasholdingsllc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250731856704/en/

CONTACT:

mediainquiries@orionsteel.com

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REG - Euronext Dublin - GEM- MSBV - CA -United States Steel Corporation - 07th July 25 (MORGAN STANLEY B.V.) [77580]

Oslo Stock Exchange

United States Steel

0.00%

This announcement has been issued through the Companies Announcement ServiceofEuronext Dublin.

To view the announcement in full, please click on the associated attachment

https://newsserviceweb.oslobors.no/message/77580

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REG - Morgan Stanley B.V. - ISM- MSBV - CA -USSC - 07th July 25

London Stock Exchange

United States Steel

0.00%

RNS Number : 0408Q Morgan Stanley B.V. 07 July 2025

Morgan Stanley & Co. International plc

25 Cabot Square

Canary Wharf

E14 4QA

7 July 2025

Corporate Action Notification

Dear All

Please note that there has been a Corporate Action for the following ISIN(s):

XS2323195938

Merger

There has been a merger of United States Steel Corporation (X US / X.N / US9129091081) with

Nippon Steel Corporation (5401 JP / 5401.T / JP3381000003). Following this merger, the

underlying company has been replaced with Nippon Steel Corporation (5401 JP / 5401.T /

JP3381000003). As a result, each existing Common Share of X will be converted into the right to

receive $55.00 net cash per share.

The effective date of this Corporate Action 18 June 2025.

All relevant past fixings prior to (but excluding) the above-mentioned effective date have been

multiplied by an R-factor of 49.18181818 on the below stated products.

Please do not hesitate to contact us for further information.

Kind Regards,

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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Tarvis Celebrates Voice Actor Genevieve Baer's Telly Award Win and Recognition as a Community Champion by the Building Doors Campaign

Acceswire

United States Steel

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Recognizing a standout year of impact, influence, and industry honors for a voice that's redefining the standard

ORLANDO, FL / ACCESS Newswire / June 25, 2025 / Tarvis, a consulting firm that helps creative professionals elevate their brand presence and connect with wider audiences, proudly announces a double milestone for voice actor and client Genevieve Baer: a 2025 Telly Award for her narration work with U.S. Steel and her recent selection as a Community Champion by the Building Doors Campaign, a national initiative amplifying women in voiceover.

Baer's Telly Award honors her performance in a U.S. Steel commercial that was originally written with a male voice in mind. Her compelling audition not only shifted that narrative-it helped redefine expectations in a traditionally male-dominated sector. The final spot won Silver in the Craft: Narration category for Best TV Commercial Voiceover.

On June 25th, the Building Doors campaign will spotlight Baer as one of just seven Community Champions for 2025. Created by voiceover talent and advocate Christy Harst, the campaign recognizes women "building doors and breaking barriers" in fields where representation still lags. Baer's featured work includes the very U.S. Steel spot that earned her the Telly nod, further underscoring the reach and relevance of her voice.

"It's rare to find someone whose voice carries strength, clarity, and humanity in equal measure-but that's exactly what Genevieve brings to every project," said Karin Barth, Director of Operations at Tarvis. "Her wins are so much more than personal achievements-they're industry-shifting moments that show the value of choosing authenticity over convention."

Baer's work in 2024 has also earned her a nomination for Female Voice Actor of the Year at the One Voice Awards. The nomination recognizes a standout compilation of voiceover work across genres and is considered one of the most competitive honors in the industry. Winners will be announced this August.

Genevieve Baer is a full-time voice actor and owner of GB Voice. Her studio work spans promos, narration, animation, and national commercial campaigns, with a client list that includes brands in healthcare, finance, manufacturing, and more. To learn more, visit https://www.gbvoice.com.

To learn more about the Building Doors campaign, visit https://www.buildingdoorsvo.com.

To learn more about Tarvis, visit: https://www.tarvis.com

Contact Information

Veronica Green

Communications Manager

press@tarvis.com

716-759-4636

SOURCE: Tarvis

View the original press release on ACCESS Newswire

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