ANSA said that the Sideralba Maghreb facility, located in Tunisia’s Bizerte industrial region, will now operate under the name SM Tunis Acier S.A. The mill produces 200 million metric tons of cold-rolled and galvanized coil per year.

As part of the joint venture agreement, SM Tunis Acier S.A. will receive a €10 million investment to double its annual capacity to 400 million metric tons by the year 2023.

“We are very satisfied with the entry of the Marcegaglia group into our Tunisian subsidiary,” commented Sideralba chief executive Luigi Rapullino, according to ANSA. “We are determined to keep our investments in Tunisia and we are convinced that the synergies that can be created with the Marcegaglia group, combined with the experience that Sideralba has gained in recent years in North Africa, will only strengthen our performance.”

Read the original press release (in Italian) here.