The Canadian Group Giampaolo announced that it will expand in Mexico. It will grow its metal processing and distribution business through its Venture Steel company and expand its scrap metal processing business through its Triple M Metal company, both in the northern Mexican city of Ramos Arizpe, Coahuila.
"This strategic initiative is a significant leap forward, designed to seize emerging market opportunities, optimize the company's supply chain, and reinforce Triple M Metal's commitment to meeting the growing demand for ferrous and non-ferrous metals," the company said in a statement.
Without mentioning the amount of investment to increase scrap processing volume, the company said the expansion could be completed in the first quarter of 2025.
Triple M Metal is a scrap metal processor that operates shredders, stationary and mobile shears, ferrous and non-ferrous balers, a copper and aluminum insulated granulation system, and a state-of-the-art downstream processing facility. It operates 44 facilities in the United States, Canada, and Mexico.
Giampaolo will also invest in its metals processing and distribution business in Mexico.
"In pursuit of sustainable growth and increasing consumer demand within the Mexican manufacturing market, Venture Steel will expand its current facility and install new, state of the art processing equipment," the company reported in a separate statement.
"These investments in Mexico will enhance Venture Steel's capabilities while enabling them to reliably meet the demand of their customers by increasing their capacity and simultaneously creating opportunities to foster new relationships," the company added without offering details of the expansion such as investment amount and processing volume.
Venture Steel has six facilities in operation in Canada, the United States and Mexico.
In Ramos Arizpe is the General Motors production plant and 8.0 miles to the south is the Stellantis vehicle plant (Fiat, Chrysler and PSA). It is also the city that will house Grupo DeAcero's new 1.5 million mtsteel mill with operations scheduled to begin in 2026.