Steel Dynamics Inc. (SDI), Fort Wayne, Ind., and La Farga Group, Barcelona, Spain, have announced the creation of a partnership that will operate under the SDI LaFarga LLC name. Initial plans for the partnership include constructing a $39 million facility to produce copper wire rod from copper scrap. According to an SDI news release, the two companies presently are targeting potential sites in Allen County, Ind., for the plant.
SDI, which will provide a portion of the copper scrap for the new venture, says it will benefit from having a new domestic consumer for the material. SDI adds that traditionally a large portion of the copper scrap it has collected was exported to China.
LaFarga Group will provide manufacturing technologies for the project.
"We are proud to incorporate the advanced manufacturing technology of LaFarga Group in a state-of-the-art facility that deepens our commitment to Northeast Indiana and Allen County," says Mark Millett, president and COO of SDI.
Oriol Guixa, CEO of LaFarga Group, comments, "This joint venture represents our first expansion into the United States, and we are proud to partner with Steel Dynamics, a proven leader in the metals industry."
According to published reports, SDI LaFarga plans to buy 30 to 40 acres of land zoned for industrial use for the manufacturing plant.
The Indiana Economic Development Corp. has offered SDI La Farga up to $300,000 in performance-based tax credits and up to $20,000 in training grants based on the company's job creation plans. Allen County reportedly is considering additional incentives at the request of the Fort Wayne-Allen County Economic Development Alliance.
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