Thyssenkrupp's steel division has awarded contracts for the construction of a ladle furnace in Duisburg, allowing the manufacturer to expand its product portfolio to include high-alloy grades.
"This step will enable us to offer new steel grades and thus substantially and sustainably improve our competitive position," said Thyssenkrupp Steel Europe Andreas Goss.
Around EUR40m (US$45m) will be invested in the project, slated to start next autumn, at BOF melt shop 2 in Duisburg-Beeckerwerth.
"Given the uncertainties surrounding the steel sector, the decision to build the ladle furnace was not made lightly," added Goss.
"But at the same time we want to send out a positive signal about the future of the German steel industry and our site."
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