Aços Villares to invest 79% more
Gazeta Mercantil 04/24/2009
Aços Vilares, producer of special steel which belongs to Gerdau, sent the Brazilian Securities and Exchange Commission yesterday an investment plan of R$ 476.34 million (US$ 216.5 million) between 2009 and 2011. The amount is 79% greater than that invested in the last three years. Of the total amount foreseen, R$ 257.97 million (US$ 117.3 million) will be invested in the division of steel mill rolls. Among the projects are the setting up of a new forging unit and the increase of the productive capacity, as well as the modernization of the press.
Another R$ 156.7 million (US$ 71.2 million) will be intended for projects of mechanic construction, mainly for the increase of the productive capacity of special profiles in the unit of Sorocaba (SP), and the digitization and automation of mill boilers in the unit of Mogi das Cruzes (SP). The plan still has to be approved by the General Meeting, scheduled for next Tuesday, April 28, when it will be also voted the increase of the share capital of the company and will be elected the members of the Board of Directors.