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ArcelorMittal to invest €16.5 million

Apr 09, 2018 | 11:30 AM | AMM's London staff, AMM staff

ArcelorMittal is planning to invest a further €10 million ($12.31 million) by the end of this year in the expansion of its service center in Neuwied, Germany, which processes around 400,000 tonnes per year of steel. It had already invested €6.5 million this year before the end of February.

“We are investing in a significant capacity expansion and in various automation projects to increase productivity and [improve] occupational safety at the site,” the unit’s managing director, Friedrich Raffauf, said.

At the end of 2018, a new slitting plant is scheduled to start operation. This will allow the unit to split coils as heavy as 30 tonnes in total weight and with material as thick as 4 mm, and to increase production by another 100,000 tpy.

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