October 12, 2008

Acerinox announces CAPEX for Palmones Factory

Acerinox SA has announced a plan of investment into its Palmones factory Campo de Gibraltar of EUR 45.6 million over the next two years which it says will include ‘improvements relating to the environment.

Acerinox SA in a statement said that it approved a Plan of Investments (Phase XVII) that an important part of the phase would see 22 % of the money dedicated to improvements relating to labor security and the environment. The remainder will be devoted to the improvement and modernization of production equipment currently in operation.

This investment program is added to the approved one year ago (Phase XVI), amounting to EUR 49.9 million, also aimed at the factory of the Campo de Gibraltar, which is currently in an advanced stage of implementation.

Acerinox added that “With these investments shows the determination of ACERINOX SA to keep their production facilities and services at the highest degree of efficiency and commitment to the safety of their workers and the environment.”