British Steel Invests Big in Wire Rod Business
07/18/2018 - British Steel will invest 50 million pounds (approximately US$65 million) to boost its wire rod production capabilities, the company announced this morning.
The mill upgrade is the single-largest investment the steelmaker has made in 10 years. Primetals Technologies will supply and install the new wire rod line at the company’s Scunthorpe, England works. The modernized line will be capable of producing wire rod in sizes up to 28 mm in diameter and boast tighter tolerances and higher quality.
“This is a major investment in the future of our business,” commented British Steel chief executive Paul Martin in a press release. “The mill upgrade will ensure the British Steel name remains synonymous with quality, innovation and product development. Our wire rod business has a growing order book and this investment will let us build on this by guaranteeing the tighter tolerances and improved surface qualities customers demand, particularly in the automotive sector,” he said.
The project is set to begin this summer and will be completed in the fall of 2019.