SC: Metglas Inc. Announces Steel Plant Expansion in Conway, Creating 30 New Jobs

Metglas, Inc., a Proterial Group Company, is excited to announce that it is doubling production capacity for their HB1M Amorphous Steel product line in Conway, SC. HB1M Amorphous Steel is used in the construction of distribution transformers that power homes and businesses. The expansion is expected to be completed by July 2023 and will create 30 new jobs. The company is also evaluating additional opportunities to expand operations in 2024, giving Metglas the ability to service 20% of the entire U.S. distribution transformer market and bring even more high-paying jobs to the Conway area.

South Carolina Gov. Henry McMaster (R) welcomed today’s announcement. "Metglas, Inc.’s announcement of doubling its production capacity and adding 30 new jobs in South Carolina is commendable. We are proud to have such an innovative company in South Carolina and look forward to their continued future success," McMaster said.

Rep. Russell Fry (R-SC) also applauded the expansion. “Metglas, Inc's expansion of its steel production capabilities is great news for South Carolina's Seventh,” Fry said, “This expansion will create 30 new jobs and promote economic growth in the Conway area — which they've called home for over 30 years. I wish Metglas and its employees success for many more years to come.”

Today U.S. electrical utilities struggle to maintain a safe inventory of transformers to keep the U.S. electrical grid stable, efficient and secure. One issue is the lack of available GOES (Grain Oriented Electrical Steel) in the U.S. With this capacity expansion, Metglas will be a key component in minimizing the long lead times that electrical utilities are experiencing. The Metglas HB1M amorphous steel is ultra-efficient electrical steel that has important secondary benefits such as lower distribution losses (lower costs to the customer), while allowing utilities to reduce their carbon footprint by deferring power generation to feed system losses.

Metglas’ goal is to lead the way toward a stable U.S. based supply chain for the U.S. electrical grid. Metglas products are environmentally and economically superior to traditional transformers. With its decision to invest in the expansion of production capacity and the creation of new permanent and construction jobs in Horry County, the company is well-positioned to help the U.S. achieve its electrical grid security goals.

DOE estimates that if the U.S. electrical grid fully utilized amorphous steel instead of GOES, the U.S. would reduce its CO2 emissions by 340 million metric tons over the next 30 years—an amount roughly equal to the annual emissions of 90 coal-fired power plants. DOE also expects to generate over 10 quads (the equivalent of 1.85 billion barrels of crude oil) of energy savings and approximately $15 billion in savings to the nation.

Metglas stands ready to work with transformer makers to ensure that they make the best use of the extraordinary properties that Metglas’ products offer. The company welcome all opportunities to talk with utilities to educate them on the value that Metglas-based transformers can deliver to them and their customers.