Posted in | News | Ferrous Alloys and Metals | Iron and Steel

Wescast Industries Plans to Expand Stainless Steel Facility in Ontario

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Mar 7 2011

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Wescast Industries Inc. (TSX:WCS.A) today announced it plans to further expand the capacity of its stainless steel facility in Stratford Ontario to more than double its previous commitment.

The additional capital investment is specifically related to a number of production orders recently received for engine components that utilize the unique manufacturing technology employed at that facility. The investment will be financed through operating cash flows.

"This investment for supply to the North American market is in line with our recent announcement of expanding our stainless steel capability in China and Europe, and further strengthens our strategy of providing customers with solutions in multiple alloys in all our geographic regions," said Ed Frackowiak, Chairman and CEO. "We are pleased with the success of our new technology which enables us to produce thin walled, lower weight castings and allows Wescast to serve the growing stainless steel market in North America."

The work required will begin shortly to meet production requirements that begin ramping up in early 2012.

Source:

http://www.wescast.com/

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