ArcelorMittal, which has operations in 60 countries worldwide, is investing approximately $40 million into upgraded operations in Mexico and Canada, where it just donated more than 500 tons of steel for a public sculpture that pays tribute to a local union leader.
Last last month, ArcelorMittal also announced it would invest more than $11.1 million in a tubular facility in Monterrey, Mexico, where it plans to build a fourth tube mill to serve the North American auto market. The steelmaker will hire 80 more workers and also add processing equipment to make tubes that are used for automotive seats and head rests.
The mill in Mexico already makes tubes that are used in drive shafts, rounds and specialized shapes for automakers.
“ArcelorMittal has enjoyed a strong position in supplying tubes to the Mexico region since 2000,” ArcelorMittal Tubular Products Chief Executive Officer Ed Vore said.
“This latest investment in new equipment and our people is consistent with ArcelorMittal’s aim to further grow our footprint and leadership position in the automotive sector – a market that continues to show remarkable growth, both in Mexico and the southeastern United States.”
For information on the Cuba Investment Forum in Miami, visit www.cubainvestmentforum.com
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