New machinery ready at steelmaker Gerdau's plant

MONROE, Mich. -- Steelmaker Gerdau is unveiling new machinery at a Michigan steel facility as part of the company's ongoing expansion.

The company on Wednesday is marking the completion of construction of a continuous caster at its North American special steel facility in Monroe, about 35 miles southwest of Detroit.

Gerdau says the work is part of a previously announced a $134 million investment in the facility aimed in part at meeting growing demand for steel.