According to a Friday report by the Monroe News, Gerdau Macsteel will be investing $67 million in its Monroe, Michigan plant.
Through the investment, which will begin in 2011, Gerdau Macsteel will increase capacity by 225,000 tons through 2013. The investment will also allow upgrades within the mill itself, including improvements on existing infrastructure.
It was further reported that as part of its expansion plan, Gerdau Macsteel will continue to explore growth opportunities in both the automotive and nonautomotive sectors.