Inca invests $125 million in the Dominican Republic

The company is a joint venture with the Gerdau Group, which owns 49% of its capital stock

Industrias Nacionales (Inca), a company in which the Gerdau Group owns a 49% stake, will invest $100 million in building a rolling mill to manufacture light bars and beams, with 420,000 metric tons of installed capacity, aiming at the domestic and foreign markets. This will increase the company's annual installed capacity from 300,000 metric tons to 720,000 metric tons of rolled product. The new rolling mill will create 120 direct and 200 indirect jobs and will start operating in late 2009 or early 2010. “With the expansion, Inca is strengthened as a steelmaking hub, aiming at meeting the Caribbean’s growing demands,” says Claudio Gerdau Johannpeter, the Gerdau Group COO. The new investment was announced in the afternoon of November 28 in a ceremony held to unveil industrial equipment worth $25 million, attended by the Dominican Republic's president, Leonel Fernandez Riva. In the ceremony, a new line was launched which will produce wire rod – raw material for manufacturing wires, fences and welded steel mesh, which are currently imported– and concrete reinforcing bars in coils. Until, Inca’s rolling activities were aimed at manufacturing concrete reinforcing bars. Besides the new wire rod production line, a rebar cut to length and bend plant was launched, as well as a welded steel mesh plant, both aimed at the construction industry.
 
 
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