Rio de Janeiro, Brazil-based Gerdau announced Friday that it will invest $67 million to expand production and improve product quality at its Gerdau Special Steel North America facility in Monroe, Michigan. The company will install new reheating, rolling and ancillary equipment in order to expand the plant's production capacity to more than 800,000 metric tons per year by the second half of 2013.
The Monroe plant currently produces long-rolled specialty steel products including various bars.
"The continuing investments at Monroe are a result of our confidence in the recovery and growth of the North American market, as well as our commitment to the local community," said Gerdau CEO Andre Gerdau Johannpeter.