The Italian steel mill Acciaierie Grigoli SpA, a part of Steel Investment and Finance - a joint venture company between the Italian steel producer Duferco and Russian steelmaker Novolipetsk Steel (NLMK), has announced the changing of the company name to Verona Steel.
Verona Steel has stated in its official press release that it decided to change its name in order to reflect its remarkable growth in recent years and also to mirror the new company's shareholder structure.
Verona Steel specializes in the production of hot rolled plates from 20 to 200 mm in thickness, of heavy plates up to 600 mm in thickness, and in forging ingots of up to 90 mt.
In addition Verona Steel has announced that after a year of effort to complete the start-up phase, the company has finally commenced the implementation of its five-year investment plan, which will give the company access to new markets and will modify Verona Steel's sales mix with a greater proportion of higher value added products. Upon its completion, Verona Steel's annual production capacity will rise to 550,000 metric tons per annum.