Corus to invest a further £10 million in longs division
Anglo-Dutch steelmaker Corus announced plans to invest a further £10 million in its Scunthorpe steelworks. As reported by SteelOrbis in February, Corus would invest £130 million ($233 million) in Scunthorpe steelworks. With the recently announced investment, the total investment in the Scunthorpe over the past two years will exceed £200 million. The investment marks Corus' commitment to strengthening the competitive position of its long products division. The investment covers the installation of an automated distribution center for sections produced at the medium section mill. The new facility will improve Corus Construction & Industrial's end product quality for sections. The new sections distribution center is scheduled to be operational by fall 2006.