Dofasco and Arcelor to build HDG line in US

Dofasco and Arcelor to build HDG line in US

According to statement released by Canadian mill Dofasco and Luxembourg based mill Arcelor, the two companies are planning to build a hot dip galvanizing line in US to serve automotive sector. The facility, which will produce galvanized steel for automotive industry, will have capacity of 500'000 tons per annum. Currently, Dofasco and Arcelor own a joint venture company called DoSol Galva Limited Partnership, a galvanizing line at Dofasco's Hamilton operations. Arcelor is the world's leading steel producer with a turnover of €25.9 billion ($30.6 billion) and shipments of 40.2 million tons in 2003. Meanwhile, Dofasco has recently announced financial results of first quarter, ended on March 31, 2004. The company reported net profit of $54.6 million in the subject quarter against $46.9 million recorded in the corresponding period of 2003. Shipments of the company reached 1.32 million tons, up by 12% against 1.18 million tons recorded in the same period of previous year.