According to a news release Monday, the Canadian government will provide Ivaco Rolling Mills with a repayable contribution of up to C$ 10 million for the company's C$ 80 million expansion project. Upgrades to the steel plant will allow Ivaco to increase its steel billet production by 225,000 tons annually and to produce different grades and higher quality steel billets. Ivaco Rolling Mills produces the largest variety of wire rod sizes of any North American rolling mill for the automotive, oil and gas, mining and construction industries both in Canada and around the world.
The expansion will also introduce advanced steel billet technology that is not yet being used in a rod rolling mill in North America. This technology will allow Ivaco Rolling Mills to introduce new grades of steel to its process and expand its product line.