DeAcero to establish $300 million steel plant
Mexican steel producer DeAcero reportedly began construction of a steel plant in the state of Guanajuato. DeAcero invested $300 million into the project. The plant, which is scheduled to be completed by June 2006, will produce 1 million tons of raw steel per annum. With this new plant, DeAcero's raw steel production capacity will increase 59% to 2.7 million tons. This additional production will be exported primarily to US and European markets.