NEW YORK Feralloy Corp. has been granted tax abatements for a proposed expansion at its operation in Decatur, Ala.
The steel processor is considering a $7.75-million project to add a multi-blanking line and a stretcher leveling line at the facility, according to documents submitted to the citys Industrial Development Board.
The multi-blanking line would be used for producing flat, precise and tight-tolerance steel blanks to customers in the automotive, appliance, HVAC (heating, ventilation and air conditioning) and office furniture markets, according to the documents. The stretcher leveling line would be used to remove internal stresses from the steel and enable the production of "perfectly flat products."
The company did not respond to requests for comment.
The tax abatements amount to about $22,000 per year for 10 years, as well as $240,000 during the construction period.
Chicago-based Feralloy, owned by Reliance Steel & Aluminum Co., has two slitting lines and a cut-to-length line in Decatur. The documents said the Chicago-based company could start the expansion this month and be in service by April 1, 2013.