Germany-based long steel producer Saarstahl has announced that it is investing €30 million in the complete modernization of its
wire rod mill in Neunkirchen, aiming to secure market share in the premium quality sectors for customers in the automotive industry and in mechanical engineering.
According to Saarstahl's statement, after the
investments which have already been decided in the rolling mills in Völklingen and in Saarbrücken/Burbach, in this year alone the company has now initiated
investments of around €80 million for the modernization of its facilities.
The
wire rod mill in Neunkirchen has an annual capacity of almost 600,000 mt. The construction work will begin at the end of 2015 and will take place while production is running. Commissioning of the new rolling mill is planned for the middle of 2016.