Acesita aiming to produce 60,000 tonnes of CRGO in 2007

Monday, 04 Jun 2007

Business News Americas reported that Brazilian specialty steelmaker Acesita expects to see its grain oriented silicon steel capacity at 60,000 tonnes per year by end 2007 as compared to 50,000 tonnes per year in 2006.

Spokesperson of Acesita without citing an output forecast for 2007 said that production of the grain oriented silicon steel in 2006 came in at some 45,000 tonnes as compared roughly 39,000 tonnes in 2005.

Acesita has a planned capital expenditure of BRR 263 million (USD 138 million) for 2007, out of which BRR 44.1 million was already spent in the first three months of the year. Disbursements will focus on the silicon steel capacity increase and investments at subsidiaries.

Minas Gerais state based Acesita has liquid steel capacity of 900,000 tonnes per year and calls itself the only integrated stainless and silicon stainless steel producer in Latin America.