Gerdau Launches $70.3 Million Investment at Special Steel Mill
Gerdau Special Steel North America – three years after completing a $155.6 million capital investment at the same facility – is launching an additional $70.3 million project at its Monroe, Mich., special steel mill. This round of investment will include a new electric-arc furnace (EAF) transformer, controls and mechanical upgrades in the EAF, and a new twin-ladle furnace and material-handling system.
“This project will upgrade our EAF and secondary refining technology and will be the final step to elevate the technological capability at Monroe to world class,” said Mark Marcucci, president of Gerdau Special Steel North America. “In addition, we will substantially improve our hot-metal capacity, which will now fully optimize our previous investments.”
This project will conclude the planned enhancements to Monroe and is expected to be complete in December 2020.