ArcelorMittal to invest €16.5 million
Apr 09, 2018 | 11:30 AM
AMM's London staff, AMM staff
ArcelorMittal is planning to invest a further 10 million ($12.31 million) by the end of this year in the expansion of its service center in Neuwied, Germany, which processes around 400,000 tonnes per year of steel. It had already invested 6.5 million this year before the end of February.
We are investing in a significant capacity expansion and in various automation projects to increase productivity and [improve] occupational safety at the site, the units managing director, Friedrich Raffauf, said.
At the end of 2018, a new slitting plant is scheduled to start operation. This will allow the unit to split coils as heavy as 30 tonnes in total weight and with material as thick as 4 mm, and to increase production by another 100,000 tpy.