16 June 2014

FerroAtlántica to invest $382 mn and create 345 jobs in Quebec, Canada

Port-Cartier - 16 June 2014 - FerroAtlántica Group has chosen to establish its first North American silicon metal factory in Port-Cartier, Quebec, Canada. The $382 million investment will create 345 direct jobs and produce 100,000 tonnes per year. FerroAtlántica Group is a wholly owned subsidiary of Spain's Villar Mir Group.

An environmental impact study beginning in June 2014 will mark the project's first phase which requires a $215 million investment. The three furnaces are slated for full operation by December 2017. This project will create nearly 230 construction-related jobs and 175 direct jobs to produce 50,000 tonnes annually. 

"We have found Quebec, and Port-Cartier in particular, to be especially welcoming and stimulating businesswise. The conditions are ideal to grow our activities. We are excited to be setting up in Québec and participating even more actively in its prosperity. FerroAtlántica Group sees silicon metal as a substance of the future and an opportunity, especially for Québec and the North Shore, to consolidate its singular expertise to position itself among this growth industry's world leaders," said the Group's owner Juan-Miguel Villar Mir.

Logistically, Port-Cartier is strategically interesting because it is easily accessible by boat, train and truck, has readily available wood substance and holds immense promise for sustainable development using an integrated cogeneration component.

FerroQuébec will develop facilities at the forefront of technology, including a high-performance wood charcoal plant to produce silicon metal for export, mainly to the American and Canadian markets. Note that silicon is produced in modern electric arc furnaces working 24/7 that reduce silicon dioxide found in quartz, One of the project's goals is to maximize the use of renewable materials from forest biomass. Silicon metal is mainly used to lighten vehicles, improve constructions and produce solar energy.

FerroAtlántica Group is a wholly owned subsidiary of Spain's Villar Mir Group, one of the largest privately owned Spanish industrial groups with operations in 40 countries. FerroAtlántica is the global leader in silicon metal production and one of the biggest producers of manganese and ferrosilicon alloys. In 2012, FerroAtlántica recorded sales of €1.1 billion and employed 3,100 people at its 15 plants across Europe, South America, Africa and Asia. 

Source: Investissement Québec