Germany's SMS Demag has concluded a €200 million deal according to which it will modernize the Mobarakeh steel plant in Isfahan, Iran, to boost its production to 4.1 million tons per annum.
The Duesseldorf-based company will also be responsible for training the local engineering staff and supervising the work at the Isfahan site.
SMS Demag, which registered €1,01 billion in sales last year, has around 9,900 employees worldwide. It was created in 1999 when SMS Schloemann-Siemag AG and the metallurgical plant division of Mannesmann Demag AG were merged. — (Albawaba-MEBG)
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