According to an agreement signed on Monday, July 9, by Italian-based producer ThyssenKrupp Acciai Speciali Terni (TK-AST) and Italian plantmaker Danieli, the Terni facility is expected to see a doubling of its stainless steel production from 850,000 metric tons per year to around 1.5 million metric tons following expansion work to be carried out by Danieli.
Managing director of ThyssenKrupp Acciai Speciali Terni, Harald Espenhahn, and Danieli vice president Roberto Borsi signed the agreement for the installation of a new continuous casting facility (with the technical name of "CCO 4") in the plant's hot rolling section. The new installation will enable the production of stainless steel slabs at Terni. The total investment by German parent company ThyssenKrupp in the expansion at its Italian subsidiary will reach €30 million, with production due to commence by December 2008.
"This is a conspicuous investment - Espenhahn commented - which will allow Terni to ensure its position as a leader in the stainless steel sector. We have to do what the others are not doing in the sector of special steels, in order to be increasingly competitive in costs and to overcome the challenge now coming from China and that which we also expect to come from India and Russia".