In a statement that confirms earlier media reports, the company said the new line, which will be geared to serve automotive customers, will double the plant’s hot-dip coating capacity to 1 million metric tons annually. The new line is to be built adjacent to the existing line, which went into service in 2001. 

thyssenkrupp said the new line will be able to produce steel in zinc-magnesium coatings. 

“As a close partner to our customers we understand the rising demand for premium hot-dip galvanized materials and will meet it in the best possible way. With the new line we want to further strengthen our position in an essential important market segment,” said thyssenkrupp steel chief executive Andreas Goss. 

“The investment is clear evidence of our strategy to focus on innovative technologies and markets with potential and to secure the future of our business,” he said. 

The company didn’t disclose the exact size of the investment but said it is more than low nine-figure range. The new line will be thyssenkrupp’s 10th hot-dip coating line. It is to enter service in 2021.