Acerinox says it will invest €67 million ($73m) in its VDM Metals division as part of its strategy on the development and expansion of high-added-value products, Kallanish notes.
The Spain-based stainless steel producer is implementing the so-called “Beyond Excellence Programme” to improve the group’s overall competitiveness between 2024 and 2026. The plan is focused on improving quality of output, while growing the use of scrap and becoming more energy efficient.
“The investment will increase VDM’s sales by 15% and will also strengthen integration by allowing the processing of high-performance alloys at the manufacturing facilities at Campo de Gibraltar in Spain, and increasing product range,” Acerinox comments.
The project includes the expansion of three re-melting furnaces, as well as the upgrade of the annealing, pickling and defect detection lines. The company will also develop a second atomiser for the production of stainless steel powders for use in additive manufacturing.
“This investment will double the output capacity of this material, allowing growth in a market in which VDM Metals is already a highly valued supplier,” Acerinox explains. “The company is betting on the growth of this sophisticated material that is in high demand, taking a step forward in its strategy of manufacturing high-added-value products and providing solutions for the stainless steel and high-performance-alloys markets.”
VDM is one of Europe’s largest producers of specialty alloys and a large global supplier of high-performance products, used mainly in the aerospace, oil and gas, nuclear, chemical and automotive industries.
Todor Kirkov Bulgaria