Steno
Marcegaglia
Chairman and Managing
Director
Antonio Marcegaglia
Chief Executive
Officer |
Marcegaglia
plans to commission its €150 million ($233
million) Chinese tube plant in around twelve
months, ceo Antonio Marcegaglia told
MB. The Italian company signed a deal on Wednesday
to build a tube mill in Yangzhou, which is set
to produce 350,000 tpy of stainless and carbon
precision and cold drawn tubes. It is Marcegaglia’s
first plant in China.
“There is a growing
demand in China for high-end products and
[our plant] will supply the hydraulic cylinder
and automotive industry,” said Marcegaglia.
“We have been looking at the project for
a few months and have now
decided to do it.”
Marcegaglia will proceed
with purchasing land for the project and construction
will begin in three to four months. The facility
is expected to employ 650 people.
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“We will buy in hot band and turn it into tube,” said Marcegaglia. “We
have good relations with a number of
different Chinese steelmakers.” “The new investment further strengthens
Marcegaglia’s presence outside Italy, with current operations in Brazil,
the USA, Great Britain and Poland,” the company said in a statement.
Meanwhile, Marcegaglia is also considering the construction of a 1 million tpy
plate rolling mill in the European
Union as part of its ambitious expansion plans,
said Antonio Marcegaglia.
The ceo said the proposal for a new European plate re-roller was still in its
early stages and nothing
has been finalised. The company said in 2006 that it was planning €1 billion
of investment over a four-year period to double output to 8 million tpy by 2010.
Some of the plate could potentially be used to feed new Marcegaglia facilities
under construction in Poland.
Strong demand for heavy plate in Europe has created a strong selling environment,
mostly for Italian
re-rollers.
Marcegaglia Group’s global operations include 50 companies, 6,500 employees,
250 sales offices and
47 production plants.
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 Marcegaglia
- China
 Marcegaglia plans
first Chinese tube mill within year
source:MetalBulletin
Daily
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