Haynes International Inc. (HAYN) announced plans to spend approximately $65.0 million over the next five years on new strategic initiatives, which focus on improving the capability of its production assets. The company said it is finalizing plans to spend approximately $10.0 million over the course of fiscal 2010 and 2011 to restructure, consolidate and enhance capabilities at its service center operations to improve the return on assets of service center operations.
The company plans to spend $30.0 million or $6.0 million per year on upgrades to its four-high Steckel rolling mill and supporting equipment, and the remaining $25.0 million or $5.0 per year will be spent on other equipment purchases and upgrades.
The company anticipates that it will continue to spend approximately $4.0 million per year on routine capital maintenance projects. This will approximate capital spending of $85.0 million over the next five years.
In fiscal 2010, the company targets capital spending at approximately $15.0 million, with the focus on recurring equipment requirements of approximately $9.0 million and approximately $6.0 million on the upgrade of the four-high Steckel rolling mill.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.