Spain-based long steel producer Celsa Group has announced that it will invest €166 million over the next two years to implement operational improvements and increase recurring EBITDA. The investment, which will be financed through a capital increase by the current shareholders, is subject to approval at the company’s extraordinary general shareholders’ meeting on October 28.
The investment will be part of the company’s value creation plan, which includes measures and investments to increase the company’s efficiency, profitability and competitiveness in strategic areas such as sales, logistics, purchasing and production.
As a result of the capital increase, an immediate contribution of €81 million is expected to be used for investments and improvements in Spain through Barna Steel, while the remaining €85 million will be used for investments and improvements in the group’s subsidiaries in Poland, Norway and the UK.
