INDUSTRY Ohio steel producers spend $100 million on upgrading

WCI Steel, one of the top spenders, allotted $5 million for plant improvements and environmental projects.
By CYNTHIA VINARSKY
VINDICATOR BUSINESS WRITER
WARREN -- Ohio steel producers continued to upgrade their facilities despite the weak economy in 2002, spending more than $100 million on improvements.
The Ohio Steel Council, a public-private partnership designed to strengthen ties in the state's steel industry, released the spending estimate based on reports from the state's largest steelmakers.
Big spender
WCI Steel in Warren was one of the biggest spenders, the council reported, appropriating $5 million for new monitors, a vessel replacement for its basic oxygen furnace and an expansion of its hydrogen annealing line. The steelmaker also installed a new solid waste facility and new pond liners.
V & amp;M Star in Youngstown, formerly North Star Steel, invested $2.5 million in melt-shop improvements, including a building expansion and new equipment designed to improve efficiency.
Akron-based Republic Engineered Products and Canton-based Timken Co. spent more than $40 million on combined maintenance and tooling projects.
"Capital improvement initiatives are part of an ongoing strategy aimed at ensuring our industry's long-term viability and competitiveness," said Jim Cowan, president and chief operating officer at V & amp;M and co-chairman of the steel council.
Fighting back
He said steel producers across the state are committed to strengthening the industry, and he expects to see continued high levels of capital spending in 2003.
The council reported Ohio steelmakers have invested more than $550 million on upgrades over the past three years, including $150 million in 2001.
vinarsky@vindy.com