Mexico’s Grupo Simec announced this week it will commence rebar and wire rod production this month at its Brazilian facility in the state of Sao Paulo. According to the company, the $500 million mill will have a 500,000 mt/year capacity. The investment to build the facility came through the company’s cash generation, specifically through its California-based subsidiaries, Simec Steel and Simec USA.
The project was announced in 2011 and the construction process was originally expected to take 20 months, with plant operations for the first stage scheduled to start in the second half of 2013.