Italian wire rod producer Pittini will invest €100 million in Acciaierie di Verona, the subsidiary that it acquired from Italian steelmaker Riva in December 2015, the company announced during the presentation of its plans for the 2016-21 period. The investment will be split into €80 million in the first three years and €20 million in the last two years. It will focus primarily on higher-quality low, medium and high carbon wire rod. Pittini plans to revamp the outdated plant, including the existing continuous casting line and the cold rolling area.
Accordingly to the investment plans, Italian plantmaker Danieli will supply Acciaierie di Verona with a new two-strand wire rod mill along with a new six-strand billet caster. The six strand caster, which will produce 150 mm-160 mm square billets, will feature a Fast Cast Cube oscillating mould, a multi-radius system, in-mould and final stirrers, with in-line quality control, billet marking and tracking thanks to Q3 integrated automation. Danieli’s Q3 intelligence system will be used for the integrated data collection of the whole plant. Improvements will be made also to the plant's logistics by revamping the site's railway connections.
In 2016 Pittini recorded a turnover of over €1 billion, while 60 percent of the company's production was exported.