According to a company press release, the EUR 7 million investment will be utilized to upgrade and modernize the plants to boost their efficiency.
 
“The investment of roughly EUR 7 million in the plants of Saarstahl Ascoval and Saarstahl Rail shows that we are leading the two plants into a modern and economically successful future,” said Klaus Richter, chief technology officer of Saarstahl and president of Saarstahl Ascoval and Saarstahl Rail.

“Our long-term goal is to produce top-quality carbon-neutral steel at the Saint-Saulve site, despite the sharp increase in energy costs, and to position Saarstahl Rail as a key plant for sustainable products for the mobility revolution. Since taking over the mills in August, we have already been able to significantly improve shift output and thus boost performance. We thank the French government for its close cooperation and support in realigning the plants.”
 
Additional investments are being planned for the rest of 2022.