Italy's Feralpi Group has announced that it will renovate its rebar and wire production plant in Riesa, Saxony, Germany, with an annual capacity of 1.3 million tons. The project is planned to be realized within two years with a total investment of 60 million euros.
Feralpi Group said it will strengthen its rebar and steel production to meet growing market demand for German infrastructure projects.
But overcapacity has exceeded demand in recent years, especially in Italy. Feralpi Group has shifted its focus to the Nordic market.
In 2018, the group's turnover outside Italy amounted to 62%.
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