Corus to invest £153 million in its plant in Netherlands

Corus to invest £153 million in its plant in Netherlands

Anglo-Dutch steelmaker Corus today announced plans to invest £153 million ($264 million) in its plant in IJmuiden, Netherlands, in an effort to expand the plant's product range. In line with the company statement, a new galvanizing line and a new cold mill will be built in order to better serve the customers in the automotive and construction markets. The new facilities are scheduled to be operational by 2008. Commenting, Rauke Henstra, Divisional Director Strip Products said: “We have evaluated a number of strategic investment opportunities to further strengthen our capabilities in key customer sectors to achieve our ’Best supplier to best customer' objectives. This investment is a key element of The Corus Way, the Company's long-term strategy to reinforce the company's market position and continually improving its performance through selective and profitable internal growth opportunities.”