Charter Steel, a division of Mequon-based Charter Manufacturing, on Tuesday announced plans to build a new steel mill adjacent to its coil mill and steel making operations in Cuyahoga Heights, Ohio.
The mill will produce carbon and alloy steel bars for a variety of industries. It will have about 25 employees.
It will cost $150 million to build the mill, which is expected to be online in the second half of 2018. This will be the largest investment in the family-owned company’s 81-year history.
“Growth and continuous improvement are in Charter’s DNA,” said John W. Mellowes, CEO of Charter Manufacturing Company, Inc.. “Over the past 10 years, we have invested more than $250 million in our existing Cuyahoga Heights facilities. Those improvements – coupled with a strong workforce and Ohio’s positive business climate – have set the stage for this expansion. With this new investment we see an opportunity to grow by leveraging a very successful high-service model, coupled with advanced steel making, to serve both existing and prospective new customers with an engineered, cut-length steel bar.”
Charter Steel operates steelmaking facilities in Saukville, Wis., and Cuyahoga Heights, Ohio.