Republic Reaches $100 Million in Plant Upgrades
05/15/2007 - New capital investments at Republic Engineered Products have now passed the $100-million mark since Republic became part of Industrias CH, SA de CV (ICH) and Grupo Simec in July 2005.
New capital investments at Republic Engineered Products have now passed the $100-million mark since Republic became part of Industrias CH, SA de CV (ICH) and Grupo Simec in July 2005.
Current investments, which total approximately $10.5 million, are part of Republic's continuing strategy to remain the SBQ leader by providing defect-free products to its customers. These investments include projects at the Canton Bloom Caster, Canton medium- and large-product inspection facilities, Lorain 20-inch and 9/10-inch bar mills, and at the Lackawanna 13-inch bar mill.
Republic says the current projects will help to streamline logistics, increase and improve in-line inspection / detection systems, and eliminate the need for certain additional processing.
"These projects demonstrate our determination to make the necessary investments to strengthen long-term relationships with our customers," said Jaime Vigil, Republic's President and CEO. "We intend to continue to provide the best SBQ products and be the supplier of choice in a very competitive marketplace.
Republic is not disclosing additional specifics of the projects for competitive reasons.
"Our technology relationship with Kobe Steel, coupled with our long-standing customer relationships, provides us with what we need to make the right investments to maintain and grow our business across all market segments," Vigil said.
Republic Engineered Products is a leading North American supplier of special bar quality (SBQ) steel. With headquarters in Fairlawn, Ohio, the company operates steelmaking centers in Canton and Lorain, Ohio, and value-added rolling and finishing facilities in Canton, Lorain and Massillon, Ohio; Lackawanna, N.Y.; Gary, Ind.; and Hamilton, Ont. Republic employs approximately 2,500 people.
