ArcelorMittal's Canada Unit to Invest C$70 Million in Facilities
January 25 2018 - 10:22AM
Dow Jones News
By Marc Bisbal Arias
ArcelorMittal Long Products Canada, a unit of ArcelorMittal
(MT), said Thursday that it will invest about 70 million Canadian
dollars ($56.6 million) from a government program in its
steel-production facilities by 2020.
The Quebec government's electricity rebate program will fund the
project to upgrade the company's facilities in Contrecoeur, Quebec.
The investment will allow the company to maintain its leading
position in the North American steel industry, it said.
The company will replace two reheating furnaces as part of the
investment, enabling higher productivity, better energy use and
lower gas emissions. The work on the furnaces is expected to last
until the first half of 2020, ArcelorMittal said.
It will also replace a dust collector, which improves air
quality, at the end of the year, the company said.
The company also said it had invested C$27 million in a new
finishing line at its Longueuil mill.
Write to Marc Bisbal Arias at marc.bisbalarias@dowjones.com
(END) Dow Jones Newswires
January 25, 2018 11:07 ET (16:07 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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