Gerdau Rounds Out Michigan Mill Overhaul with US$70.3M Investment
05/09/2018 - Gerdau Specialty Steel North America said on Thursday that it will invest US$70.3 million in its Monroe, Mich., USA, meltshop.
In a statement, the steelmaker said the project, which will increase capacity by 33%, includes a new twin-ladle furnace and material handling system, a new transformer for the electric arc furnace, and controls and mechanical upgrades to the electric arc furnace (EAF).
“This project will upgrade our EAF and secondary refining technology and will be the final step to elevate the technological capability at Monroe to world-class,” said Mark Marcucci, president of Gerdau Special Steel North America. “In addition, we will substantially improve our hot metal capacity, which will now fully optimize our previous investments.”
The project is being enabled by the corporate tax cuts and local and state support. Work is expected to be completed in 2020.
You can find Gerdau’s full announcement here.
“This project will upgrade our EAF and secondary refining technology and will be the final step to elevate the technological capability at Monroe to world-class,” said Mark Marcucci, president of Gerdau Special Steel North America. “In addition, we will substantially improve our hot metal capacity, which will now fully optimize our previous investments.”
The project is being enabled by the corporate tax cuts and local and state support. Work is expected to be completed in 2020.
You can find Gerdau’s full announcement here.
