If you think MRI tests are expensive, try buying a magnetic resonance imaging machine. Some health care providers invest millions in technology to help diagnose patients.Steel Dynamics Inc. today announced plans to invest $76 million to expand its operation in Pittsboro, just west of Indianapolis.
The project will increase the steel mill’s capacity by 52 percent and add to its product line of “high-quality, small-diameter” steel bars. The 1-inch to 3-inch bars are used in by the transportation, industrial, energy and automotive industries.
The Fort Wayne-based company plans to add a second rolling line at the Pittsboro mill. The work is not expected to disrupt operations.
Construction is expected to be complete in late 2013, pending regulatory approval, Steel Dynamics said in a written statement.
CEO Mark Millett said the company is excited about the project, which customers have championed.
“Our team has achieved a reputation for on-time performance, flexibility in scheduling and consistent high quality,” he said in a written statement. “With this new investment, we expect to be able to build on that reputation.”
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