Mexico headquartered ICH’s steel maker Simec has announced investments of USD 300 million to expand the production capacity of its Pinda plant in Pindamonhangaba in the state of Sao Paulo in Brazil. The investment consists of a new electric arc furnace and a new rolling mill, to be produced in China with German technology. The additional capacity will cover rebar and wire rod.The Pinda plant produces long steel products and the investment will double production capacity from the current 500,000 million tonne per year to 1.0 million tonne per year, with the new capacity commencing in June 2024. Considering an ongoing expansion at the Cariacica plant, Simec will have a 1.7 million tonnes of rolling capacity when the expansion of the Pinda plant is concluded.Simec is a leader in the North American specialty steel industry. Simec entered Brazil in 2011, when it acquired the site to build the Pindamonhangaba plant. In Brazil, Simec is the third largest producer of long steel products, after ArcelorMittal and Gerdau, having two other plants, located in Cariacica in the state of Espirito Santo and Itauna in the state of Minas Gerais, both in the Brazilian southeastern region.Currently, Simec has eight units in Mexico, seven in the US, one in Canada and three plants in Brazil.ICH is a Mexican Steel company, which produces and processes steel, and has had continuous growth for the past three decades. ICH is the largest producer of special bar quality steel in North America and a top producer of commercial and structural steel long products in México. ICH was founded in 1934 with the name Herramientas, mainly dedicated to producing agriculture, hand and construction tools. At the beginning of the 1960’s, as part of vertical integration, ICH began manufacturing specialty steel, also diversifying with steel fabrication, metal structures & buildings, overhead cranes, and shipbuilding, both others.