Lithuanian reinforcement steel services company B Group will invest Eur2 million ($2.2 million) in further equipping its site in the Port of Moss, Norway, it said in a press release Tuesday.
The Norwegian market is showing strong demand for reinforcement material, said B GROUP.
Last year, it supplied 48,000 mt of reinforced steel to the Norwegian market and expects to grow shipments there by 10% this year.
To achieve this, its service centers will source additional material from Sweden and Lithuania [where it has steel processing plants], said B Group, adding that its actual capacity allows for a 5,000 mt/month increase in sales volumes in Norway.
Last year B GROUP processed over 70,000 mt in its service centers in Sweden, Finland, Norway and Lithuania and sold 150 000 mt of steel material in Northern Europe.
— Ekaterina Bouckley