ArcelorMittal to invest $70 M in Quebec steel production facilities
- January 24, 2018
Steel production manufacturer ArcelorMittal Long Products Canada plans to invest close to $70 million by 2020 in its Contrecoeur, QC, facilities.
ArcelorMittal will replace two reheating furnaces at its Contrecoeur-East wire rod mill (approx. $30 million) and its Contrecoeur-West bar mill (approx. $33 million). These new furnaces, which aim to increase the company's rolling capacity by 100,000 tonnes, will enable greater productivity, optimal energy use and reduced greenhouse gas emissions. The work should extend until the first half of 2020.
At the same time, ArcelorMittal will also be replacing the dust collector at the Contrecoeur-West steelworks by the end of 2018 to improve its performance and increase health and safety for the benefit of our workers and our communities. This work will cost approximately $6 million.
"We are renewing ArcelorMittal's commitment to Quebec, says Francois Perras, CEO of ArcelorMittal Long Products of Canada. "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. ArcelorMittal Long Products Canada will also be in a better position to meet its customers' needs and face international competition. Our workers' ongoing efforts and government support have been instrumental in this investment decision. With this modernization plan, we will continue to play a major role in our communities by supporting over 1,700 direct jobs and converting our natural resources right here in Quebec."
In addition to these new announcements, ArcelorMittal Long Products Canada has invested $27 million for a new finishing line at its Longueuil mill, a project which was completed in June 2017.