Global steel producer ArcelorMittal has announced that it has started production at the new walking beam furnace at its hot strip mill in Ghent, Belgium. Total investment for the furnace, which is set to help the plant produce next-generation steel products, is €49 million.
ArcelorMittal also stated that it will invest an additional €140 million, spread over several years, to future-proof the Ghent plant and enable it to become a pilot site for a new range of advanced high-strength steel products for cold-forming. According to ArcelorMittal, car parts made with these steels are 10-20 percent lighter than parts made with alternative materials, enabling more economical, environmentally-friendly vehicles. Thanks to its weight and strength, the new product will help ArcelorMittal’s automotive customers to meet CO2 emissions and safety targets.