Marcegaglia will continue with its planned investments in capacity expansions, despite the current downturn, ceo Antonio Marcegaglia said on Tuesday.

Speaking to delegates at MB’s 6th Steel Success Strategies Europe conference in Paris, Marcegaglia told delegates that the long-term prospects for the industry remain positive and justify the company’s plans.

“We have seen a severe and needed correction, but [the market] remains positive in the long-term fundamentally,” he said.

“We are confirming our expansion plans,” he continued. “We are also looking at more strategic sourcing and flexibility within an economy of scale, as well as expanding internationally.”

And the company is looking at a variety of options for expansion, Marcegaglia said.

“The new investments cannot exclude acquisitions,” he said.

The coil re-roller and tube maker is looking to Central and Eastern Europe for future investment projects in steel service centers and distribution, Marcegaglia previously told MB. (MB October 27)

And Marcegaglia is in the process of setting up a new stainless steel tube mill near Moscow that is slated for commissioning early next year, he said. (MB September 5)