Sidor invests US$12mn in automation in 2003

Venezuelan steel maker Siderurgica del Orinoco, Sidor, is advancing with technological maintenance and refraction work in its plants, installing state-of-the-art technology in different areas of production, the company said in a statement. In 2003, Sidor plans to invest US$12mn in automation upgrades alone, it said. This includes an investment of about US$1.4mn to remodel the continuous casting machine Cabin 3, and the installation of new equipment in the control cabins to oversee the plant, all auxiliary services and also the whole productive process. Another US$1.1mn is destined for the first stage of modernizing the wire-making lines, said Sidor. These works include a sophisticated system of control for the start and finish stages of product manufacture, which reduces the amount of material lost and delays in production, it said. Finally, the company is also investing US$1.3mn to update technology in the Temple 1 unit for making cold-rolled products. This week negotiations are continuing between Sutiss, the Venezuelan steel workers union, and Sidor over work-related performance evaluations, the company said. Puerto Ordaz-based Sidor is 60% owned by the Amazonia consortium, made up of Mexico's Hylsamex of the Alfa group and Tamsa of the Techint group; Argentina's Siderar, also of the Techint group; Usiminas of Brazil and Venezuela's Sivensa. The group bought what was originally a 70% stake in the company from the state for US$2.3bn in the late 1990s. The Venezuelan state owns the other 40%.