Brazil-based Usiminas Mecanica announced Monday that it will invest R$138 million (US$86 million) in an automated hardened steel panel production plant in Brazil to service the country's shipbuilding industry.
The plant will meet the demand in Brazil's marine market driven by pre-salt oil exploration and production. The unit is forecast to be in production in late 2012 and will have the capacity to produce 65,000 tons per year. The plant will be an automated production plant and will be able to produce panels up to 18 meters long.