ArcelorMittal to invest $27M in Longueuil Bar Mill
Finishing line upgrade will boost mill's output by 500,000 tonnes per year
LONGUEUIL, Que.—ArcelorMittal Montreal is looking to strengthen its position as a local steel producer through a $27 million investment in its Longueuil Bar Mill.
The project will update the finishing line at the mill and boost its capacity by 500,000 tonnes of per year.
“Approval of this investment is a mark of ArcelorMittal senior management’s confidence in our business unit,” Sujit Sanyal, ArcelorMittal Montreal vice-president of operations, said.
The company said the project is expected to be completed in 2017 and will consolidate the 200 jobs at the plant.
“This is a direct consequence of ongoing improvements in health and safety, quality, productivity and profitability, as well as our good labour relations. These factors have contributed to our past success and are more than ever necessary if we are to continue to stand out from the crowd,” Luc Lacerte, the Longueuil plant manager, said.
ArcelorMittal Montreal said the funding for the project will come from its parent’s global capital expenditure fund for strategic projects at its best-performing facilities. The bar mill last underwent underwent upgrades in 2013, when a new reheat furnace was installed, a project that improved the mill’s performance while reducing its energy consumption and greenhouse gas emissions.