) operations in Luxembourg, ArcelorMittal Dommeldange, announced
that it has partnered with local wind tower maker Smart Wind
Integrated Renewables Letzebuerg (Swirl) to manufacture a new
generation of vertical axis wind turbine called Estreya L2.
Estreya L2 is available in a broad range of colors and is
fully recyclable. The turbine has a simple yet solid design
including a low number of components which makes it cost
effective. Estreya L2 can also be customized to bear the logos of
the company. The turbines help reduce noise levels which enable
them to be used in urban environments. The turbines can be
installed on buildings or on specific towers.
All the mechanical components of Estreya L2 will be produced
at the Luxembourg site. The complex process of handling the
assembly will also be done at the site. ArcelorMittal, in
collaboration with Swirl, will improve the turbine, both in terms
of design and quality. The company's Long Carbon Europe site will
help it to achieve the same. To further the partnership,
ArcelorMittal's technical and commercial teams are involved in an
exercise to analyze whether lattice towers can be used to replace
existing ones. They will utilize the steel produced in
ArcelorMittal Rodange site, also located in Luxembourg.
Few days ago, ArcelorMittal announced that it plans to restart
an expansion project at its Monlevade and Juiz de Fora sites in
Brazil. The project expansion is expected to increase the
annual production capacity from 3.75 million tons to 4.9 million
Monlevade is expected to produce 1.05 million tons per year of
coil on capital investment of $140 million. The expanded wire rod
from Monlevade is expected to enhance supply of added value
products mainly to the domestic construction and automotive
On the other hand, Rebar capacity at MT's Juiz de Fora site
will be increased from the current 50,000 to 400,000 tons a year.
Also, the site's melt shop will produce an extra 200,000 tons of
billets per year using its new ladle and new sixth strand in the
continuous caster. Additional rebar at the Juiz de Fora site is
expected to go into downstream cut and bend operations for civil
construction end users.
ArcelorMittal currently maintains a Zacks Rank #3 (Hold).
Other companies in the steel industry with favorable Zacks
Nippon Steel & Sumitomo Metal Corporation
Kobe Steel Ltd.
). While Nippon Steel maintains a Zacks Rank #1 (Strong Buy),
Kobe Steel and Ternium each hold a Zacks Rank #2 (Buy).
KOBE STEEL-ADR (KBSTY): Get Free Report
ARCELOR MITTAL (MT): Free Stock Analysis
NIPPON STEEL CP (NSSMY): Get Free Report
TERNIUM SA-ADR (TX): Free Stock Analysis
To read this article on Zacks.com click here.