Liberty Magona is planning to develop galvanized products following the addition of new pickling and coating lines.
The company’s managing director Giovanni Carpino said that the new lines would give it access to satisfy a wider customer base and demand.
Liberty Magona restarted its pickling line and completed work for the plant’s organic coating No 1 lines this week. The €10mn ($11.8mn) investment increased production capacity by 40pc and allowed a 20pc increase in employees with the addition of 81 new young recruits between the ages of 20-25 years.
The two lines were the first phase in the long-term €100mn investment to strategically renovate the plant into a supplier of coated steel goods in Europe. The €5mn program to restart the pickling line allowed assets to enter service in February 2021 and is gearing up to capacity. The additional €5mn in the organic coated line No 1 will allow the asset to restart in Q3 and double production of Magona’s organic coated product sold in the domestic and export markets.
Liberty’s Magona plant is in Piombino, Italy, and was acquired in July 2019.