Louisville, Kentucky-based steel processor Steel Technologies LLC announced Tuesday that the Pesqueria Municipality in Mexico has authorized the industrial use of the Greenfield site in Monterrey, Mexico for Steel Technologies' new flat-rolled steel processing and pickling operation. Construction will begin immediately and the new plant is anticipated to be operational by late 2012.
The new facility required an investment of $75 million and will have a processing capacity of over 800,000 tons annually. The facility will expand Steel Technologies' North American platform to 25 locations, including three joint ventures.
"We are dedicated to bringing more value to our growing customer base in Mexico and are confident that flat-rolled steel consumption in the region will continue to expand," said Michael J. Carroll, President and CEO of Steel Technologies. The facility will have a number of value-added processing capabilities, including pickling, heavy and light gauge slitting and multi-blanking.
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