Mexico’s Grupo Simec announced plans to invest approximately
$500 million in a 500,000-ton-capacity greenfield steel plant in Brazil. Grupo
Simec will carry out the investment through its California-based subsidiaries,
Simec Steel and Simec USA. The construction process is expected to take 20
months, with plant operations for the first stage scheduled to start in the
second half of 2013. Two additional stages are planned for the future. Based in
Guadalajara, Grupo Simec manufactures and distributes a wide range of special-bar-quality
and structural steel products, primarily in North America.