ArcelorMittal plans $380M Canada beam mill, idlings
Dec 12, 2007 | 02:08 PM
| Michael Cowden
ArcelorMittal SA plans to build a $380-million beam mill in Contrecoeur, Quebec, as part of a wide-ranging bid to consolidate its Canadian operations.
Production is expected to begin in 2010, and the mill's annual capacity will eventually reach 800,000 tonnes, the Luxembourg-based integrated steelmaker said. It would be the first beam mill in Canada since the former Algoma Steel Inc. shuttered its beam facility in Sault Ste. Marie, Ontario, during bankruptcy proceedings in the early 1990s.
"From Arcelor's standpoint, I think it's a very sensible move. It kind of looks like a 'Chaparral North'," said James Moss, a strategy consultant at First River Consulting, Pittsburgh. He noted that the North American beam market remains profitable, with strong demand from non-residential and infrastructure applications.....
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