The American Iron and Steel Institute — the trade group representing U.S. steelmakers — has launched a new business unit that will “advance the competitive use of steel through a market-driven strategy that promotes cost-effective steel based solutions.”
The Steel Market Development Institute (SMDI) is being funded by eight steelmakers as a commitment to expanding steel’s competitive position in the North American market. The sponsoring companies are AK Steel Corp, ArcelorMittal Dofasco, ArcelorMittal USA, Nucor Corp., Severstal North America Inc., SSAB North America Inc., U.S. Steel Corp, and USS-POSCO Industries.
SMDI will have a board of directors with representatives of each company reporting to a CEO group. AISI president and CEO Andrew G. Sharkey stated “the North American steel industry is widely recognized as having a dynamic and innovative model for making steel the material of choice through market development.” Sharkey added that “our aggressive approach to pro-competitive collaboration between steel producers and customers is providing value to our members in the form of steel solutions in the marketplace. It also reflects strategic direction resulting from the AISI Visioning Project, which led to the Institute’s heightened focus on a robust policy agenda, while also recognizing the importance of advancing steel as the material of choice.”
AISI senior vice president David C. Jeanes will become president of the new Steel Market Development Institute. “As a business unit of AISI, the Steel Market Development Institute will continue to advance new steel technologies and business practices in the marketplace,” Jeanes said. “We will build on our years of success in the automotive, construction and container markets, while exploring opportunities in markets such as infrastructure and energy.”
The AISI Steel Market Development Institute will be led by a board of directors with representation from each of the eight investing companies and will report to a CEO group. The current market committees will be re-named the Automotive Applications Council, Construction Market Council and the Steel Packaging Council.