ArcelorMittal investing $70M to modernize steel mills in Contrecoeur, Que.
The expansion will increase capacity at the Quebec facilities by 100,000 tones per year
CONTRECOEUR, Que.—Steel producer ArcelorMittal Long Products Canada has earmarked approximately $70 million to upgrade its manufacturing complex northeast of Montreal.
The Quebec subsidiary of the Luxembourg-based steel giant will direct the funds to two adjacent operations in Contrecoeur, Que., where it produces wire rod and industrial steel and employs about 1,700 workers.
ArcelorMittal plans to replace two reheating furnaces at the two facilities, boosting its overall rolling capacity by 100,000 tonnes. Meanwhile, the dust collector at the Contrecoeur-West steelworks will be also be replaced. The three initiatives are expected improve energy use while reducing emissions at the complex and earn the company a rebate of approximately $25 million from Quebec government initiatives.
“Our choice to invest in the acquisition of high-performance equipment will help us accelerate our move towards high-value-added steel production, particularly for the automotive and construction industries,” François Perras, the company’s CEO, said in a statement. “ArcelorMittal Long Products Canada will also be in a better position to meet its customers’ needs and face international competition.”
The upgrades are expected to be complete by 2020.