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  • Industrias CH, S.A.B de C.V. (ICH) informs investors that at its most recent Board of Directors meeting, a decision was reached to invest through Grupo Simec S.A.B de C.V. (SIMEC), in a 600,000 annual ton capacity facility of special bar quality steel (SBQ) in the northern part of Mexico.

The new SBQ facility will require an investment of approximately $ 700 million, which will be financed with its own resources.

Additionally, the board approved the installation of a new spiral-welded steel pipe facility, which will allow the company to manufacture pipe up to 100 inches in diameter with a wall thickness of 1 inch. Both projects have been approved by the board of ICH and SIMEC in response to the growing demand for its products by the automotive and petrochemical industry.

  • Grupo Simec S.A.B. de C.V. (Simec) announces that its subsidiary Republic Steel has entered into a five year supply agreement with United States Steel Corporation, to provide Tube Rounds to the U.S. Steel Tubular Products Division. Republic is committed to supply an annual minimum of 225,000 tons, but could be as much as 450,000 tons, starting in May 2014. The steel will be produced in the new Electric Arc Furnace that is being installed at its Lorain, Ohio plant which will have an annual capacity of one million two hundred thousand tons per year, and will start operations in the second half of 2013.
Last Updated on Monday, 19 May 2014 16:46