USFR to invest USD 700m in offshore wind factories on East Coast

Steel components manufacturer US Forged Rings Inc (USFR) plans to spend USD 700 million (EUR 651m) on the construction of a tower fabrication facility and a steel forging plant on the US East Coast to service the growing domestic offshore wind market.

The company said in a press statement on Wednesday that it is in the final stages of evaluating possible locations and that it expects to make a decision soon.

The planned tower fabrication facility is designed with the capacity to produce 100 fully-coated towers annually. Depending on demand, the capacity could even be doubled in the future.

The steel forging facility, on the other hand, is expected to produce large flanges up to 40 feet in diameter, as well as forged components required in other heavy industries including nuclear energy, construction, shipping, and mining.

“All potential sites are strategically positioned with access to required waterways, rail, and utilities, providing significant logistical benefits and making it competitive to supply large components,” managing director Slavko Zurovac commented.

In this endeavor, USFR relies on its strategic supply chain partnerships with steel producer and recycler Nucor and ingot caster Ellwood Quality Steels. Subject to obtaining the necessary approvals, the company hopes to start production in the first quarter of 2026.

(USD 1.0 = EUR 0.930)

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