Italian pipe and sheet producer Marcegaglia has announced the acquisition of the Fos-sur-Mer plant in the south of France, owned by the bankrupt Ascometal. The sale of the plant was ordered by a court in Strasbourg.
Ascometal specialised in the production of long products made from special steels, while the Fos-sur-Mer plant, located near Marseille, specialised in the production of semi-finished products, wire rods and large-sized circles made from various types of steel.
Marcegaglia plans to invest around EUR 600 million in the plant and reorientate it towards the production of flat products. The capacity of the electric arc furnace is expected to be increased and the plant will be equipped with new equipment, including a slab multiple cutting line and a hot rolling mill, which will increase production capacity to 1.6-2 million tonnes per year.
The new equipment is scheduled to be commissioned in 2027. Marcegaglia estimates that, with these investments, the company will be able to meet about 30 % of its hot rolled steel needs with its own products.
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