Italy-based Gruppo Beltrame Thursday signed an agreement worth US$400 million, enabling the steelmaker to build a plant in Argentina. The proposal was first presented to company shareholders last summer, and company executives anticipate annual plate production will exceed 200,000 tons. Construction is forecasted to begin within the next 12 months.
Gruppo Beltrame is the European leader in the production of commercial rolled sections as well as the main producer of special bars for shipbuilding and earth-moving machines. They currently own nine production plants with a combined annual production of more than three million tons.