NEW YORK Wire rod
producer Ivaco Rolling Mills LP is on schedule to complete its
new melt shop by March of next year.
The Canadian $80-million
($79.4-million) melt shop will increase the volume and variety
of steel billets the company makes and will apply technology
currently not being used in North America, the Federal Economic
Development Agency for Southern Ontario (FedDev Ontario) told
"Once they have a new melt shop,
theyll make everything themselves," a wire rod mill
source familiar with the upgrade said. "Theyre going to
wean themselves off their billet supplier."
Ivaco has an annual wire rod
capacity of 850,000 tons, which is much larger than its steel
billet capacity of 450,000 tons, according to its website. A
source familiar with the operation said the sitelike most
others in the steel industryhas been running somewhat
below its nameplate capacity rate.
FedDev Ontario awarded the
LOrignal, Ontario-based mill a $10-million repayable
contribution to upgrade its facility (
amm.com, March 12). The new melt shop will create
50 new permanent jobs at the plant and 200 short-term
construction jobs, the agency said.
Ivaco declined to comment on the