Grupo Acerero, dedicated to the steel business, broke ground for its fifth melting in San Luis Potosi, and operation that will run under the name of Grupo Fonderia. The US$ 95 million investment will create 350 jobs during the initial stage.
The new production site, located in a 213,000 square-meters surface will be able to produce nearly 600,000 annual tons of steel rod and plates.
The company started operations in 1980 as a heavy melting scrap operation owned by three families, which grew up over the years adding four facilities to date.
Its current steel output is 840,000 tons a year of rebar, rod, welded mesh, various sorts of wire and nails.