XEAL invests €1M  in one of its silico-manganese furnaces

• This investment is part of the €28m plan for the development of the company's 4 strategic axes: safety, environment, asset care, and efficiency and productivity.
• In the ferroalloys division, investments of €3.5 million are planned this year, in addition to the €1.8 million already executed during 2020
• The energy division plans to invest 4.5 million euros in 2021, in addition to the 1.3 million euros already invested last year.

Xallas Electricidad y Aleaciones, XEAL, is committed to an investment plan of 28 million euros between 2020 and 2024, 14 million in each of the company's divisions: ferroalloys and energy.

As part of the plan, last January Xeal's plant in Cee began work on the adaptation and expansion of the environmental control systems in one of its SiMn (silico-manganese) furnaces. The work will take several months and is expected to be completed by the end of the second quarter of this year.

This investment, close to one million euros, is part of the future plan announced by the company to invest 14 million euros in the ferroalloys division over the next five years, in line with its four strategic axes: Maximum commitment to workers' health and safety ; respect for the environment and compliance with environmental regulations; long-term care and maintenance of assets; and improved efficiency and productivity for greater competitveness. This plan for the future has not been affected by the complicated market situation, since it has been executed according to the schedule drawn up in September 2019.

Specifically, investments of €3.5 million are planned in the ferroalloys division in 2021, in addition to the €1.8 million already executed during 2020.

In turn, the energy division plans to invest an additional €4.5 million on top of the €1.3 million already executed during 2020.

In total, since the new management team and shareholder joined the company, and as of December 31, 2020, 2.2 million euros have been invested in the ferroalloy division and another 1.3 million euros in the energy division.

María Couto, XEAL's CEO, stated that "we are committed to carrying out our investment plan, even though this represents a great financial challenge due to the difficult economic environment, improving safety in our plants and boosting our market competitiveness."