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Gerdau announces additional $21.6 million capital investment at Monroe, Michigan mill
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New straightener and inspection line part of ongoing capital investment plan
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Gerdau, one of the world’s largest suppliers of special steel and the leading producer of long steel in the Americas, will spend an additional $21.6 million to increase its straightening and quality inspection capabilities at its North American special steel facility in Monroe, Mich.
This investment includes a new bar straightening unit; surface inspection equipment; and automatic ultrasonic inspection equipment for testing internal cleanliness, all of which will be housed in a new onsite building.
“This project supports the reinforcement and expansion of our leading SBQ position and confirms our commitment to significant capital investment in North America,” says Andre B. Gerdau Johannpeter, chief executive officer (CEO) of Gerdau.
This additional expansion is part of Gerdau’s ongoing capital investment program that was announced in May 2010 to expand the Monroe mill’s capability and bring production capacity to more than 800,000 short tons per year. Upgrades are being made in the melt shop, where Gerdau is installing a continuous caster, which will be operational in June 2012 along with a new vacuum degasser slated to begin operations in 2013. Major improvements to Monroe’s existing rolling mill facilities are also underway, including the installation of six additional rolling mill stands and a new walking beam reheat furnace. Monroe’s overall capital project will be completed by the second half of 2013.
“We are expanding our capabilities to meet the growing demands of our customers so we can continue to be their supplier of choice,” says Jack Finlayson, president of Gerdau Special Steel North America. He added that the investment shows “both our commitment to Monroe and our strength in the industry.”
Gerdau Special Steel North America is an engineered steel bar producer headquartered in Jackson, Michigan, with world-class steel manufacturing plants in Jackson and Monroe, Michigan and Fort Smith, Arkansas and steel processing plants in Michigan, Indiana, Wisconsin and Ohio. The company produces special bar quality (SBQ) carbon and alloy hot rolled and bright cold finished steel bar products.
Gerdau is a leading producer of long steel in the Americas and one of the largest suppliers of special steel in the world. With over 45,000 employees, it has industrial operations in 14 countries - in the Americas, Europe and Asia - which together represent an installed capacity of over 25 million metric tons of steel per year. It is the largest recycler in Latin America and around the world it transforms, each year, millions of metric tons of scrap into steel, reinforcing its commitment to sustainable development in the regions where it operates. With more than 140,000 shareholders, the Company is listed on the stock exchanges of São Paulo, New York and Madrid.
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