Mexican steel service center Group Villacero SA de CV
has postponed plans to construct a new long steel rolling mill
due to the weak economic environment.
"At the moment, the
investment is suspended due to changes in the economic climate,
and we must have the flexibility to deal with these new
challenges," chief executive officer Julio César
Villarreal Guajardo told AMM sister publication
Steel First this week on the sidelines of
Alaceros 54th Latin American Steel Congress in Lima,
But the company does
plan to resume the $350-million investment in 2015, Guajardo
said, noting that "100% of this investment will stay in
previously said it was considering locations in northern Mexico
and the southern United States for the plant.
The rolling mill will
have the capacity to produce around 600,000 tonnes per year of
reinforcing bar and wire rod.
Mexicos largest steel distributor, with a total capacity
of some 5 million tonnes annually.
A version of this
article was first published in AMM sister publication Steel