North American Stainless to invest 270m US dollars in Kentucky mill

摘要

A cerinox chairman, Victoriano Mumoz Cava, has confirmed that its subsidiary North American Stainless will invest 270m US dollars at its Kentucky works to increase melting capacity from one million tonnes forecast for the end of 2006 to 1,415,000 tonnes with a second AOD converter, and put into operation a fourth annealing and pickling line, a 5th ZM cold mill, and finishing equipment for long products. The company said 80 new jobs will be created. The new facilities are scheduled to come on stream at the end of 2008. Once working at full capacity in 2010, production will be 78 percent higher than the output achieved in 2005. This investment is in addition to the already announced investments of the 15th phase of the Campo de Gibraltar works, which amount to Euro35m. In addition, it is scheduled to enlarge the Roldan works in Ponferrada with a Euro20m investment aimed at increasing productivity, updating the technology of the facilities and improving environmental conditions and safety. New warehouses in Warsaw, Oporto and Seville are under construction with a global investment of Euro21m.