In Chile, Compañía Electrometalúrgica S.A. (Elecmetal) was founded, pioneering the installation of the first electric arc furnace for steel castings in Latin America.
Meanwhile, Minneapolis Electric Steel Castings (ME) began its operations in the United States, marking the start of a parallel journey in innovative steel castings.
We began producing molten material specifically for mineral grinding, laying the foundation for our expertise in wear-resistant solutions for the mining industry.
We invested in and installed advanced technology for the large-scale production of forged grinding media balls, enhancing our ability to support the mining industry with high-performance solutions for mineral grinding.
We signed a manufacturing license agreement with Electric Steel Co. (ESCO) of Portland, Oregon (USA), enabling us to produce high-quality spare parts for the earthmoving industry.
We installed a state-of-the-art vacuum casting system at our Duluth foundry in the United States, enhancing the quality and precision of our castings to meet the evolving demands of our customers.
Elecmetal expanded its metallurgical operations by acquiring the assets of ME International and ME West Castings. This acquisition brought valuable expertise and knowledge from ME International, along with two modern foundries located in Minnesota and Arizona.
ME Elecmetal initially acquired 60% of Fundición Talleres from Codelco, followed by the purchase of the remaining 40% in 2008. This strategic acquisition laid the groundwork for the future Rancagua project.
ESCO Corp. (USA) and Elecmetal formed a joint venture, establishing ESCO Elecmetal, a subsidiary located in Colina, Chile. This facility specializes in manufacturing steel spare parts for earthmoving equipment, serving both local and export markets.
ME Elecmetal and Longteng Special Steel Co. (China) established a 50/50 joint venture called "ME Longteng Grinding Media (Changshu)." This venture focuses on constructing a modern plant with the capacity to manufacture over 400,000 tons per year of forged balls for the mining industry.
Additionally, the Early Alert division was launched, offering 3D laser services and advanced non-destructive testing techniques for the structural analysis of mining equipment and infrastructure.
We officially inaugurated our grinding ball plant in Changshu, China, alongside our Colina Plant in Chile, which specializes in manufacturing wear elements for earthworks.
Additionally, the company invested $18 million to expand our two foundries in the United States, located in Duluth, Minnesota, and Tempe, Arizona.
We launched the ME FIT System, becoming the first company to offer a comprehensive solution for the comminution stage in mining.
In the same year, we also began operations at our new state-of-the-art foundry in Changzhou, China.
Our Rancagua Plant, formerly known as Fundición Talleres, underwent a significant overhaul, with an investment of $92 million, enhancing its capabilities and efficiency.
We commenced operations at our new grinding media ball plant in Zambia, expanding our manufacturing footprint and supporting the local mining industry.
We introduced the ME Digital Lab, our technology division that leverages our extensive industry expertise and emerging digital technologies to drive innovative and disruptive solutions for the mining market.
ME Elecmetal acquired 80% of Funvesa, a Peruvian foundry with over 60 years of history based in Callao. This acquisition aims to enhance our focus on manufacturing specialized components for mining, crushing, and milling processes throughout Latin America.
We acquired PRIMA Foundry, one of the leading steel and manganese foundries in Africa, located in Gauteng, South Africa. This facility provides essential services for mining processes primarily across South Africa and the continent, as well as in other global markets.
