Grupo Simec, S. A. B. de C. V. ("Simec") Announced Investment of a New Plant in Brasil
SAO PAULO, Nov. 10, 2011 /PRNewswire/ -- Grupo Simec, S.A.B. de C.V. announces that shall invest, through its California, USA subsidiaries Simec Steel and Simec USA. This investment will exceed USD $500'000,000.00 and shall be done with own resources, from the reinvestment of profits. The plant shall have a capacity of 500,000 annual tons, in the first of three stages.
This investment decision was taken after have analyzed different projects, for the international growth of the Company, without carelessness the Mexican plants where the investments projects continues.
The construction process will take 20 months. It is expected that the plant starts operations in the semester 2nd of 2013.
SOURCE Grupo Simec, S.A.B. de C.V.
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