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Gerdau announces investment of $27 million in Huntington, Indiana facility
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New production line for the quench and tempering process and a complete bar processing line will increase capacity and broaden capability
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With an investment of $9 million underway and an additional $18 million over the next two years, Gerdau Special Steel North America is committed to its Huntington, Indiana steel facility by expanding capability and increasing capacity. The capital investment to expand the facilities will fund a new production line for the quench and tempering process and a complete bar processing line.
“As our customers’ requirements for value-added bar processing continues to grow, we are expanding our capabilities to meet their needs and be their supplier of choice,” said Jack Finlayson, President of Gerdau Special Steel North America. He added that the investment shows “both our commitment to Huntington and our strength in the industry.”
The first phase, a $9 million capital investment, began in 2011 and is now fully operational. This investment includes a new inline induction heated quench and tempering line for steel bar and tube products. With the completion of this phase, Gerdau’s Huntington facility now has five quench and temper lines, bringing total capacity to 80,000 tons annually.
The second phase, an additional $18 million investment, will include a new building and crane, and will also introduce the newest equipment for processes including steel bar turning and polishing, inspection, induction heat treating, straightening and cutting.
The investment will be supported by tax incentives from the state of Indiana and the city of Huntington that are intended to help stimulate industrial and commercial growth. The Huntington facility was opened in 1981 by Macsteel, which was acquired by Gerdau in 2008.
Gerdau is the leading producer of long steel in the Americas and one of the largest suppliers of special long steel in the world. It has over 45,000 employees and industrial operations in 14 countries with operations 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 millions of metric tons of scrap into steel every year. Gerdau is listed on the stock exchanges of São Paulo, New York and Madrid and has more than 140,000 shareholders.
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