It was financed under a facility with Italy’s Cassa Depositi e Prestiti S.p.A (“CDP”) agreed in June 2020 and guaranteed by SACE S.p.A. (“SACE”), the state-owned export credit agency, under the “Garanzia Italia” initiative.
The installation of a Master Plasma Bevel LineaTech Nova 55, a EUR10 million investment, is a central project in Metinvest Trametal’s CAPEX programme. It allows for a nearly four-fold increase in the production capacity of trimmed plates, from 65,000 tonnes per year to up to 235,000 tonnes per year. To accommodate the new line, Metinvest Trametal constructed a new building adjacent to the plant with a total area of 6,800 square metres. The launch of the new line is expected to create 16 jobs over the coming months.
The line was formally inaugurated on 26 November at a ceremony at the plant in San Giorgio di Nogaro in Northeastern Italy. Guests included representatives of the European steel industry, the financial institutions, local authorities and the media. The ceremony provided an opportunity for European and local stakeholders to see how the loan facility had been used to develop value-added steel products, stimulate the development of the local economy, both during the construction phase and through the creation of additional permanent jobs.
The Group acquired Metinvest Trametal in 2008. Its quarto (reversing) rolling mill has an annual production capacity of 600 thousand tonnes of high-quality, hot-rolled plates for use in shipbuilding, pipe manufacturing and for other industrial purposes. In 2020, Metinvest Trametal supplied steel for the construction of San Giorgio bridge, the new sustainable structure designed by Renzo Piano, which has reunited the two halves of the city of Genoa after the tragic collapse of the Morandi bridge. In 2021, the Financial Times named Metinvest Trametal one of Europe’s 300 Climate Leaders, recognising companies that achieved the greatest reduction in their greenhouse gas (GHG) emissions intensity in 2014-19, adjusted for revenue growth. The asset currently has around 300 employees.
Dmytro Nikolayenko, Sales Director of Metinvest:
“The launch of the trimmer edge line at Metinvest Trametal is a milestone for us as a Group and our customers. Increased production capacity for trimmed edge plates will help us to meet rising demand from key customers in Italy, such as Italian shipbuilder Fincantieri, Europe and beyond. The project underlines the Group’s commitment to investing in value-added technology to meet the evolving needs of our customers while providing our local communities with a sustainable source of economic growth and good jobs."
Marco Carrara, Project Implementation Manager, Metinvest Trametal Plant Director:
“We are very pleased to have completed the project despite the challenges presented to our community and to the global supply chain by the pandemic. The new trimmer edge line expands our production capacity without entailing an increase in our climate footprint. The project is providing new jobs in the region while cementing Metinvest Trametal’s position as a leading supplier of steel solutions for our customers.”
Metinvest is a vertically integrated group of steel and mining companies that manages every link of the value chain, from mining and processing iron ore and coal to making and selling semi-finished and finished steel products. It comprises steel and mining production facilities located in Ukraine, the EU, the UK and the US, as well as a sales network covering all key global markets. Its strategic vision is to become a leading vertically integrated steel producer in Europe, delivering sustainable growth and profitability resilient to business cycles and providing investors with returns above the industry benchmarks. For the first six months of 2021, the Group reported revenues of US$8.5 billion and an EBITDA margin of 45%. More information can be found at metinvestholding.com