Luxembourg-based global steel giant
ArcelorMittal has announced that it has invested €95 million for a new
wire rod mill at its Duisburg site,
Germany.
The facility with an annual capacity of 690,000 mt will be able to introduce new steel grades for the automotive industry, renewable energy and offshore applications, fasteners and machinery, allowing a wider product mix for
wire rod from
ArcelorMittal Duisburg.
According to
ArcelorMittal's statement, the new
wire rod mill will allow customers to reduce processing costs, while on the other hand the company will be able to increase rolling of high added-value products like alloyed spring steels, bearing steels and cold heading qualities for wire.
Commissioning of the new mill started in mid-March and regular production is scheduled to start in June. The new mill will fully replace the Hochfeld
wire rod mill by the end of 2012.