Aperam investing $42.6 million in Brazilian plant

Aperam investing $42.6 million in Brazilian plant

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Stainless steel and electric steel producer Aperam South America plans to invest BRL 243 million ($42.6 million) to expand capacity at its Brazilian plant, according to a media report by Valor.

Out of the total BRL 243 million ($42.6 million) investment, the company will spend BRL 90.6 million ($15.9 million) to upgrade equipment and increase productivity of its stainless steel unit.

All the investments are destined to the company’s Timóteo plant, located in the city of same name in the state of Minas Gerais. Aperam will use its own resources to fund the investment.

Aperam has 2,000 employees at its Brazilian plants, with a 900,000 mt/year capacity to produce stainless steel, electric steel, and special carbon steel products.

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