Simec to invest nearly $50 million to expand capacity at Brazilian mill

Wednesday, 23 December 2020 19:46:56 (GMT+3)   |   Sao Paulo

Mexican-based steelmaking group Simec, which also owns facilities in Brazil, plans to invest nearly $50 million (BRL 257 million) at its Cariacica mill in Brazil, a media report from Folha de Vitoria said.

Simec plans to expand and modernize its Cariacica facility, increasing capacity from 600,000 mt/year to 800,000 mt/year, while also generating an additional 100 jobs.

Simec should also install a degassing furnace for the treatment of gases, automatic casting equipment, and the upgrade of a rolling mill.

Simec bought the Cariacica facility from ArcelorMittal Brazil in 2018.

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