ArcelorMittal invests in the wind turbines market

ArcelorMittal announced on March 17, 2008 a two year investment plan at the Liège (Belgium) CFR unit, to target the growing wind turbines market. The 10 million euro program will give CFR “Cockerill Forges & Ringmill”, a producer of hardened steel rings, the possibility to follow the growth of the markets it serves: wind turbines, civil engineering vehicles, and railway vehicles wheels. The CFR ringmill employs 150 staff and has revenues of 60 million euros. This investment is mainly targeted at the wind turbines market and will allow CFR to increase its output by 30%. It will create about 45 jobs.

Wind energy is the fastest growing energy sector. On average, the global wind energy market has grown over 25% annually over the last ten years. “Steel is a green material. We want to accompany the strong growth of the wind turbines sector. Today, one out of three wind turbines produced worldwide contains CFR-made rings. Also, we are one of the largest suppliers of plates for the construction of wind turbine towers.” Alex Nick, ArcelorMittal Vice President Global Plates and CEO of Industeel