Genoa, Italy-based high precision stainless flat steel manufacturer Arinox, a subsidiary of Arvedi Group, announced the company will invest "some dozens million euro" in high precision stainless steel strip production during 2011-2015 period, although some sources report that the amount is likely to be around €50 million. Arinox is the only company in Italy that is capable to produce high precision stainless steel strip.
The investments will be aimed at enhancing production capacity from actual 40,000 mt to 60,000 mt due to the installment of a new stainless steel strip bright annealing line, a new table rolling mill for width up to 1,270 mm and a new slitter. According to Arinox CEO, Massimiliano Secco, the plants will enable the company to become "more competitive in terms of production costs, innovative in terms of finished steel quality, environmentally and occupationally friendly".
The development of the five-year industrial plan, indeed, will bring major advantages in the field of high value added alloys manufacturing (e.g. nickel-titanium alloys, which are actually produced only outside Italy in thin flat products), while increasing the workforce of the company.