Global steelmaker ArcelorMittal has announced that it will invest around €88 million this year on modernizing and increasing the competitiveness of its production sites in Germany, following investments of €630 million made over the past five years.
According to ArcelorMittal, around €10 million will be invested in the remodeling of two strands at the steel mill in Bremen. In Duisburg, ArcelorMittal will invest a total of €6.5 million by mid-2015 in the continuous casting line. Following the construction of the new wire rod mill for €135 million since 2010, the further investment will increase the site's competitiveness once again, leading to higher flexibility and new segments in the automotive market.
At the Eisenhüttenstadt site in Brandenburg, ArcelorMittal will invest around €34 million this year. This includes a performance improvement of the pulverized coal injection system at blast furnace 5A. The modernization concept at galvanizing line No. 1 will be continued with a new preheating furnace.
More than seven million mt of steel are produced annually at ArcelorMittal's four German plants in Bremen, Duisburg, Eisenhüttenstadt and Hamburg, representing about 20 percent of the steelmaker's European crude steel production.