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Schmolz + Bickenbach Announces $49.96 Million Investment in Swiss Steel

Schmolz + Bickenbach Announces $49.96 Million Investment in Swiss Steel

Introduction:
SCHMOLZ + BICKENBACH, a global leader in special long steel, announced a $49.96 Million investment in its subsidiary, Swiss Steel, today.

Features:
A new walking beam furnace and two new Garrett coilers will be installed at the Emmenbrücke site in Switzerland. The investment further strengthens the location.

Swiss Steel is planning to update its facilities with state-of-the art technology making it as one of the most modern facilities across the globe.

The new walking beam furnace allows optimal and more efficient heating of the previously produced billets at the desired temperatures, preparing the billet for its further processing in the downstream rolling mill.

In addition to a performance increase, this also reduces quality losses and achieves substantial energy and CO2 savings.

The new Garrett coilers used to wind the rolled products after they were processed in the rolling mill will allow an increase of ring weight to over 2.2 tons from 1.8 tons currently.

The walking beam furnace is expected to go into operation in 2019, the Garrett coilers a year earlier. Full operation is expected for the end of 2020.

Around CHF 11 million originate from federal funds by means of a reimbursement of the "feed-in remuneration at cost" (“Kostendeckende Einspeisevergütung”, KEV), a Swiss federal instrument for the promotion of electricity production from renewable energies.

The company plans to enhance their competitiveness and can serve customers with better quality and a wider range of products using the new equipment.

Specifications:

Company Name SCHMOLZ+BICKENBACH
Location   Swizerland  
Type   New Walking Beam Furance
Estimated Cost $49.96 Million  

 

Source:schmolz-bickenbach.com

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