Aços Villares completes its investment plan

Aços Villares completes its investment plan

Brazil-based Aços Villares, in which Spanish producer Sidenor has 58% stake, has recently completed its $131 million investment plan. The company invested Real 300 million ($98.7 million) in its Pindamonhangaba unit and Real 98 million (32.3 million) in its Mogi das Cruzes plant. Current annual finished steel production capacity of Aços Villares is 700'000 tons and crude steel is 900'000 tons. With these investments, Aços Villares forecasts the production of finished steel products to reach 620'000 tons in 2004, up by 20% when compared with the production figure recorded in 2003. The company supplies most of its products to automotive industry.