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Aandeel ArcelorMittal AEX:MT.NL, LU1598757687

  • 23,900 7 mei 2024 14:27
  • -0,450 (-1,85%) Dagrange 23,850 - 24,300
  • 1.307.347 Gem. (3M) 2,6M

Nieuws en info hier plaatsen (deel 4)

35.173 Posts
Pagina: «« 1 ... 1005 1006 1007 1008 1009 ... 1759 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 19 juni 2019 15:19
    anieli To Upgrade Aceros Arequipa Rollng Mill

    Corporacion Aceros Arequipa has named Danieli to install two additional roughing mill stands as the second phase of the contract to upgrade the mill. This additional equipment will allow the increase of billet sizes to 160 mm square and improve product yield as well as mill utilization. The equipment is already designed to roll 180-mm square billets as part of the third phase of the modernization, coming into force by September 2019. The supply includes one horizontal and one vertical 6548 cartridge-type stands with the relevant lubrication and hydraulic valves bench.

    Danieli Automation will supply electrical equipment and integrate the L1 system.

    Start-up is planned for Q2 2020.

    Source : Strategic Research Institute
  2. forum rang 10 voda 19 juni 2019 15:25
    Metinvest and Air Liquide Signed Investment Contract For ASU

    During the visit to PJSC Illich Metallurgical Plant of Mariupol, President of Ukraine Volodymyr Zelensky took part in the ceremony of signing the investment contract between Metinvest Holding and Air Liquide on the construction of the air-distributing complex. The ceremony was attended by Ambassador Extraordinary and Plenipotentiary of France to Ukraine Isabelle Dumont. The document provides for the allocation of USD 25 million. This is the first part of a large-scale project that will significantly increase energy efficiency and reduce emissions at the enterprise. The overall price of the project is USD 78.3 million. Its implementation will create 1,000 jobs. The total investment in the construction of the complex will amount to USD 78.3 million. The project attracted funding from the French state export credit agency Bpifrance Assurance Export.

    The capacity of the air separation plant will be 25 thousand cubic meters of oxygen per hour. The infrastructure of the complex includes a gasification station with a storage of liquid oxygen, an evaporator and two pumps. Automated installation will reduce energy consumption by 20%.

    The equipment for the project will be supplied by Air Liquide, and it will be implemented by specialists of Metinvest Engineering and Ilyich Iron and Steel Works. Thousands of additional jobs will be created during construction. It is planned to put the complex into operation by the end of 2021.

    Source : Strategic Research Institute
  3. forum rang 10 voda 19 juni 2019 15:26
    Mr TV Narendran Speaks On Capacity Addition

    Mr TV Narendran, CEO & MD of Tata Steel, in an interview with ETNOW while answering to “For Tata Steel, the India target is about 30 million tonne by 2025. What are you doing with that mix of organic and inorganic routes?” said that “All the investments that we talked about have already been done or are ongoing, I do not think we are going to do anything major beyond what we have announced, at least for the next three, four years. Basically, last year, we completed the Bhushan acquisition towards the end of last year and in the early part of this financial year, we completed the Usha Martin acquisition and we are midway through the Kalinganagar expansion.”

    He said “With all these, with Bhushan Steel integration, Usha Martin integration and the Kalinganagar expansions we will be at around 24-25 million tonnes over the next three, four years. Thereafter we will see how the market is, how our balance sheet is and decide between 2022 and 2025 what is it that we need to do.”

    Source : ET
  4. forum rang 10 voda 19 juni 2019 15:30
    Emirates Steel Sees Trade War Hurting Global Metals Sector

    The Nation reported that the escalating trade war between the world’s two biggest economies is denting regional and global demand for steel, forcing the UAE’s Emirates Steel to rationalise its cost base to offset the impact of slower sales. Mr Saeed Al Remeithi CEO told The National that "It’s difficult, challenging, and there is no sell, you see a trend of slowing demand not only in the region but also the whole world. Also from the raw materials point of view, prices are going up. Emirates Steel is paring costs in day to day activities. He said that “In terms of how we charge scrap, how we do the internal processes, how we reduce costs and supply chain for example, but when the business is slowing down, the company is more focused on cost reductions, but that doesn’t mean we’re laying off people.”

    The steel sector has faced a challenging year globally following the imposition of a 25% levy by the US administration under President Donald Trump last year on all imported steel into the country. The measure was meant to counter what he called dumping of the metal by manufacturers such as China.

    Source : The National
  5. forum rang 10 voda 19 juni 2019 15:31
    Pakistan CCoP Seeks Proposals Regarding Privatization Of PSM

    Nation reported that Pakistan Cabinet Committee on Privatization directed the Ministry of Industries and Production and Privatization Commission to submit their proposals regarding privatization of Pakistan Steel Mills in the next CCoP meeting. Adviser to the Prime Minister on Finance, Revenue and Economic Affairs, Dr Abdul Hafeez Shaikh chaired meeting of the Cabinet Committee on Privatization. While presenting the report of the task force on energy reform, the Ministry of Energy briefed the Committee about the challenges being faced by the DISCOs.

    Various measures recommended by the task force for improving the performance of energy sector with a focus on reduction of losses and enhancing the efficiency of DISCOs were discussed during the meeting. The Committee directed the Ministry of Energy to submit proposals aimed at accelerating closure of those GENCOs that have outlived their recommended life and are running into losses.

    Source : Nation
  6. forum rang 10 voda 19 juni 2019 15:31
    GMS Market Commentary On Shipbreaking In TURKEY In Week 24 - NO MAN’S LAND!

    Post-Eid, nothing has really changed in Turkey. Local steel plate prices remain stagnated and the Lira, though still in the high TRY 5s against the US Dollar, has suffered a minor decline towards the TRY 5.9X mark. Like the Pakistani market, Turkey remains starved of tonnage, given that most medium to large sized units can sail to the sub-continent markets where prices are nearly USD 150 per tonne higher. Moreover, there are fewer prospective units opening up in European waters, which has made it virtually impossible for Aliaga recyclers to conclude any meaningful tonnage.

    As such, the lack of availability of units has managed to keep prices artificially higher than where the recently declining fundamentals should have dropped them to. Given the scarcity of tonnage and the inability of the market to make any meaningful improvements, Turkey does seem to be stuck in no-man’s land.

    Source : Strategic Research Institute
  7. forum rang 10 voda 19 juni 2019 15:33
    ICCI Welcomes Pakistan Government Decision For Putting Steel Industry In Negative List

    Nation reported that Islamabad Chamber of Commerce and Industry has welcomed the Federal government decision for putting Ghee/Steel Industry in Negative list in Federally Administered Tribal Areas and Provincially Administered Tribal Areas tax relief for giving them tax relief. Mr Ahmed Hasan Moughal, President, Islamabad Chamber of Commerce and Industry has appreciated the government decision for putting ghee and steel industry in negative list in FATA/ PATA for giving tax relief to encourage these sectors and said incentives were causing huge loss to FBR in taxes as steel and ghee industries were shifting from tax area to non-tax area and there was un-healthier competition in the market. He further said labor was shifting from Punjab to KP and federal taxes on steel had reduced by 50% due to shift of steel units from all parts of the country to FATA/PATA which was an alarming situation.

    He said that sales tax exemption to FATA/ PATA was creating revenue problem to FBR as this tax was a consumer tax and buyer has to pay it. He said industry has to collect this tax from consumer.

    Mr Rafat Farid, Senior Vice President and Mr. Iftikahr Anwar Sethi said income tax exemption and duty free import of plant and machinery was good incentive for FATA/ PATA as the same is enjoyed by All Economic Zones in the county. They said tax exemption on income was enough incentive for investors to make investments in FATA/ PATA.

    Source : Nation
  8. forum rang 10 voda 19 juni 2019 15:33
    GMS Market Commentary On Shipbreaking In PAKISTAN In Week 24 - APPEALS!

    Members of the Pakistan Ship Breakers Association have been appealing various negative aspects of the recent budget in Pakistan, hoping to reverse some of the adverse impacts on sales tax. However, in more concerning news for those in Gadani and the industry at large, the currency, which had lost about 20% of its value in the preceding year, suffered yet another deprecation to the tune of4% on Friday, to finish the week trading at a disastrous and historically high level of PKR 158 against the US Dollar.

    However, as drastic as this may seem, it is not expected to have much of an impact on the Pakistani market, given that this market has been starved of tonnage for months on end with local offerings still so low. As a result, local port reports have remained empty for the most part, having seen no significant arrivals at all over the past few months.

    Source : Strategic Research Institute
  9. forum rang 10 voda 19 juni 2019 15:34
    Iran Production Of Iron Ore Concentrate In 2 Months Remains Flat YoY

    Financial Tribune reported that Iran produced 8.08 million tonnes of iron ore concentrate during the first two months of the current fiscal year March 21-May 21, unchanged compared with the corresponding period of the year before. According to the Iranian Mines and Mining Industries Development and Renovation Organization’s latest report, Golgohar Mining and Industrial Complex accounted for 2.81 million tonnes of the total output down 7% YoY, followed by Chadormalu Mining and Industrial Complex with 1.85 million tonnes up 27% YoY, Middle East Mines and Mining Industries Development Holding Company with 934,491 tonnes down 8% YoY and Iran Central Iron Ore Company with 782,618 tonnes down 14% YoY

    Source : Financial Tribune
  10. forum rang 10 voda 19 juni 2019 15:34
    Steel Dynamics Provides Second Quarter 2019 Earnings Guidance

    Steel Dynamics, Inc provided second quarter 2019 earnings guidance in the range of USD 0.86 to USD 0.90 per diluted share. Comparatively, the company's sequential first quarter 2019 earnings were USD 0.91 per diluted share and prior year second quarter earnings were USD 1.53 per diluted share. Second quarter 2019 earnings from the company's steel operations is expected to decrease in comparison to sequential first quarter results. Although average product pricing declined across the steel platform, the reduced earnings were primarily related to lower profitability from the company's long product steel operations, as shipments and metal spread declined in the quarter. Underlying domestic steel demand remains intact although steel buying hesitancy and inventory destocking has resulted from a weakening scrap price environment.

    Second quarter 2019 profitability for the company's metals recycling platform is expected to decrease when compared to sequential first quarter results, principally based on reduced ferrous metal spread as average pricing declined through the quarter.

    Second quarter 2019 earnings from the company's steel fabrication business are expected to improve from sequential first quarter results, due to both higher shipments and metal spread expansion, as demand remains strong and steel input costs decline. The order backlog is stronger than it was at this time last year, and customers remain optimistic concerning non-residential construction projects entering the summer construction season, although the unusually wet weather across the United States has caused some construction project delays.

    Source : Strategic Research Institute
  11. forum rang 10 voda 19 juni 2019 15:35
    GMS Market Commentary On Shipbreaking In INDIA In Week 24 - STEEL SLIDE!

    The Indian ship recycling market has endured a tough past few weeks, with local steel plate prices falling dramatically, subsequently leaving end Buyers reticent to jump in on new purchases. Steel prices have decline by about INR 1,500 tonne, which is equivalent to about USD 21.50 per tonne. There have been a number of green vessels sold over the past few weeks and end users are also mindful of the fact that Bangladesh is waiting on further clarity on the outcome of their budget, when all facts are likely to be known in the early part of next week and Pakistan remains consistently negative due to the ongoing currency crisis there and the damaging impact of their own recently announced budget.

    The Indian Rupee weakened marginally, now trading in the high INR 69s against the US Dollar, further adding to the local anxiety, which has been further exacerbated by the market’s virtual shutdown this week due to the incoming heavy rains generated by cyclone Vayu.

    It has certainly not been a very easy time for the Indian market over the recent past.

    Source : Strategic Research Institute
  12. forum rang 10 voda 19 juni 2019 15:36
    Schnitzer Announces Q3 2019 Preliminary Result

    Schnitzer Steel Industries Inc announced preliminary results for its third quarter of fiscal 2019 ended May 31, 2019. Schnitzer expects fiscal 2019 third quarter earnings per share from continuing operations to be in the range of USD 0.52 to USD 0.56 and adjusted earnings per share to be in the range of USD 0.58 to USD 0.62, a sequential improvement from the second quarter reported and adjusted earnings per share from continuing operations of USD 0.46 and USD 0.48, respectively. For the third quarter of fiscal 2018, reported and adjusted earnings per share from continuing operations were USD 1.31 and USD 1.26, respectively, reflecting significantly higher ferrous and nonferrous selling prices.

    Auto and Metals Recycling expects to report operating income in the range of USD 28 million to USD 29 million. Operating income per ferrous ton is expected to be in the range of USD 30 to USD 31, which is an improvement of USD 5 to USD 6 per ferrous ton sequentially but is lower than the prior year third quarter. Sequentially, AMR’s expected performance reflects benefits from higher ferrous and nonferrous sales volumes which were up approximately 9%, seasonally improved supply flows and retail sales, and continuing benefits from productivity initiatives. Yeartoovertoyear, AMR’s performance is expected to decrease primarily due to lower average net nonferrous selling prices of approximately 16% and lower average net selling prices for ferrous products of approximately 13%, partially offset by the benefits from productivity initiatives.

    Cascade Steel and Scrap expects to report operating income of approximately USD 8 million, which is a USD 2 million improvement sequentially but is lower than the prior year third quarter. Sequentially, the expected improvement in performance is due primarily to the benefits of seasonally higher finished steel sales volumes of 38% and significantly increased utilization, which more than offset the impact of lower average net selling prices which were down approximately 5%, and high beginning inventory costs resulting from lower production in the second quarter. The expected YoY decrease in CSS’s performance primarily reflects lower finished steel sales volumes, the impact of the high beginning inventory costs, and a USD 1 million impact from a spike in gas prices in March, partially offset by benefits from productivity initiatives.

    For the third quarter, the Company expects to report operating cash flow in the range of USD 32 million to USD 37 million. As of the end of the third quarter, total debt was USD 142 million and debt, net of cash, was USD 134 million.

    Source : Strategic Research Institute
  13. forum rang 10 voda 19 juni 2019 15:36
    Nucor Announces Guidance For Q2 Of 2019 Earnings

    Nucor Corporation announced guidance for its second quarter ending June 29, 2019. Nucor expects second quarter earnings to be in the range of USD 1.20 to USD 1.25 per diluted share. This range is a decrease compared to first quarter of 2019 earnings of USD 1.63 per diluted share and a decrease relative to second quarter of 2018 earnings of USD 2.13 per diluted share. Included in the first quarter of 2019 results was a benefit of USD 33.7 million, or USD 0.08 per diluted share, related to the gain on the sale of an equity method investment in the raw materials segment. Included in the second quarter of 2018 results was a benefit of USD 23.3 million, or USD 0.06 per diluted share, related to insurance recoveries.

    It said “Most end-use markets remain strong or stable; market dynamics are keeping many customers on sidelines. The performance of the steel mills segment in the second quarter of 2019 is expected to decrease compared to the first quarter of 2019 as service center destocking is impacting order rates. Increased domestic supply and a declining scrap price environment have led to aggressive inventory management by our customers. We still see stability in most of the end use markets that we serve, with some softening in automotive. The profitability of the steel products segment in the second quarter of 2019 is expected to improve as compared to the first quarter of 2019, as typical seasonal patterns and improved weather conditions have benefited nonresidential construction markets.”

    It added “The performance of the raw materials segment is expected to decrease in the second quarter of 2019 as compared to the first quarter of 2019 due to further margin compression in the Company's DRI businesses. Our DRI facility in Trinidad began a planned 25 day outage in June.”

    Source : Strategic Research Institute
  14. forum rang 10 voda 19 juni 2019 15:37
    Malaysia Pantech Resumes Steel Exports To US

    Pantech Group Holdings Bhd said its steel products manufacturing unit will resume exports to the US after the company said it was not subjected to anti-dumping duty. Pantech. It said that "In this final determination, DOC has verified PSI ability to trace country of origin of its shipments of its butt-weld pipe fittings and allows PSI to continue exporting to the US without being subject to anti-dumping duty provided Pantech and its importers provide the required certifications and documentation to the US Customs and Border Protection, and maintain certifications and supporting documentation to provide to DOC upon request.”

    Pantech had suspended for almost a year all shipments of carbon steel butt-weld fittings having an inside diameter of less than 14 inches. This is after the US Department of Commerce on July 20, 2018, issued a preliminary affirmative anti-circumvention determination carbon steel butt-weld fittings from Malaysia. The DOC had earlier determined that Malaysian companies are circumventing the anti-dumping duty order on butt-weld fittings from China. Pantech, in its response in July, said it will challenge the decision. On June 14, the DOC issued a final affirmative determination concerning circumvention of anti-dumping duty from Malaysia.

    Source : Strategic Research Institute
  15. forum rang 10 voda 19 juni 2019 15:41
    Trump Trade War - Section 232 Tariffs Plummeting US Steel Exports

    Market Realist reported that in its Section 232 steel probe, the Commerce Department pointed to the high steel import to export ratio. It emphasized the subsidized steel in other countries that makes US steel exports to those countries uncompetitive. Now, while US steel imports have fallen after the Section 232 tariffs, we’ve seen a steeper fall in US steel exports. The most recent data suggests that US steel exports fell more than 30% YoY in March and April.

    The Commerce Department also pointed to lower US steel prices as a result of global overproduction. While US steel prices rose sharply in the first half of 2018, they have now fallen below the price levels when the tariffs were announced. In short, Section 232 tariffs haven’t helped in a sustainable rise in US steel prices. The Commerce Department also pointed to US steel companies’ poor earnings. After last year’s spike wherein both Nucor and Steel Dynamics reported record earnings, all steel companies including US Steel and AK Steel are expected to post a yearly fall in their 2019 earnings. Having said that, despite lower earnings, steel companies are still financially sound, and the current scenario is much better than in 2015 when companies like U.S. Steel posted negative EBITDA in the fourth quarter.

    The tariffs only provided a temporary high to US steel companies’ earnings. After the exemption for Canada and Mexico, we’ll likely see higher steel imports from these regions. Moreover, US steel companies, especially Nucor and Steel Dynamics, are aggressively adding capacity, which could prove problematic if steel imports don’t fall more from these levels.

    Source : Market Realist
  16. forum rang 10 voda 19 juni 2019 15:42
    AISI Update on Raw Steel Production in US IN Week 24

    In the week ending on June 15, 2019, domestic raw steel production was 1,887,000 net tons while the capability utilization rate was 81.1%. Production was 1,815,000 net tons in the week ending June 15, 2018 while the capability utilization then was 77.4 percent. The current week production represents a 4.0% increase from the same period in the previous year. Production for the week ending June 15, 2019 is up 0.6 percent from the previous week ending June 8, 2019 when production was 1,875,000 net tons and the rate of capability utilization was 80.6%.

    Adjusted year to date production through June 15, 2019 was 44,997,000 net tons, at a capability utilization rate of 81.5%. That is up 5.9% from the 42,472,000 net tons during the same period last year, when the capability utilization rate was 76.7%.

    Broken down by districts, here's production for the week ending June 15, 2019 in thousands of net tons: North East: 215; Great Lakes: 710; Midwest: 199; Southern: 694 and Western: 69 for a total of 1887.

    Source : Strategic Research Institute
  17. forum rang 10 voda 19 juni 2019 20:46
    U.S. Steel sees below-consensus Q2 earnings, will idle two furnaces

    Jun. 18, 2019 4:55 PM ET|About: United States Steel Corpora... (X)|By: Carl Surran, SA News Editor

    U.S. Steel (NYSE:X) -0.9% after-hours as it guides for Q2 earnings of $0.40/share, well below Q1 and year-ago results as well as Wall Street expectations.

    X's anticipated Q2 earnings is below Q1's of $0.47/share and Q2 2018 EPS of $1.46, and the analyst consensus EPS estimate for the quarter is $0.54.

    The company expects Q2 flat-rolled segment adjusted EBITDA to come in higher than Q1, even as results are hurt by decreasing steel prices and softening end market demand.

    Q2 shipments are lower than expected due to flooding in the southern U.S., which has limited the availability of barges and the ability to ship finished product to customers in recent weeks.

    X also says it expects the Great Lakes B2 blast furnace to remain idled after the completion of a planned outage, and it plans to temporarily idle a south blast furnace at the Gary Works facility; as a result, the company expect to decrease monthly blast furnace production capacity by 200K-225K tons beginning in July.

    Steel companies enjoyed strong gains in regular trading after Pres. Trump said he would meet with Chinese Pres. Xi at the upcoming G-20 summit; X rose 4.4% in today's trade.

    ===========================================================================

    U.S. Steel lifts peers on plan to idle plants

    Jun. 19, 2019 11:21 AM ET|About: AK Steel Holding Corporation (AKS)|By: Carl Surran, SA News Editor

    Steel companies are surging following U.S. Steel's (X +6%) decision to idle two blast furnaces in the U.S. and one in Europe to "better align production in response to current market conditions."

    AKS +3.6%, NUE +3.4%, STLD +2.6%, SCHN +1.7%, CMC +1.5%, MT +0.9%.

    Cowen analyst Tyler Kenyon views X's actions as a "prudent move and an incremental positive for H2 sheet supply dynamics... While a large inventory buffer may challenge immediate supply side relief, a pricing recovery into year end appears more palpable."

    Cowen reiterates its Market Perform rating on X, but Vertical Group double-upgrades shares to Buy from Sell, with analyst Gordon Johnson saying the company did the "unthinkable" in its move to idle the three plants.

    Johnson suspects other U.S. blast furnace steel mills such as AKS or MT could idle capacity imminently, as U.S. Steel has "effectively given everyone the greenlight to defy Trump and cut jobs to keep profits in the green."

    ETF: SLX
  18. forum rang 10 voda 20 juni 2019 12:43
    ThyssenKrupp overweegt overname van Klöco - media

    FONDS KOERS VERSCHIL VERSCHIL % BEURS
    Kloeckner & Co. SE
    5,22 0,338 6,92 % Frankfurter Wertpapierbörse (Xetra)
    ThyssenKrupp AG
    12,485 0,335 2,76 % Frankfurter Wertpapierbörse (Xetra)

    (ABM FN) ThyssenKrupp overweegt de overname van het Duitse staalbedrijf Klöckner & Co. Dit schrijft het Duitse Manager Magazin donderdag.

    CEO Guido Kerkhoff van ThyssenKrupp meent dat deze overname de Materials Services zou versterken. Hij is bereid om een deel van de opbrengsten van de geplande beursgang van de divisie Liften daarvoor te gebruiken.

    Volgens het Duitse magazine heeft Kerkhoff het al met Gisbert Rühl, CEO van Klöco, gesproken.

    Klöco heeft momenteel op de beurs een waardering van 470 miljoen euro.

    De fusie zou de omzet van de handelsdivisie van ThyssenKrupp stijgen naar 21,5 miljard euro, aldus Manager Magazin.

    Door: ABM Financial News.
    pers@abmfn.be
    Redactie: +32(0)78 486 481

    © Copyright ABM Financial News B.V. All rights reserved.
  19. forum rang 10 voda 20 juni 2019 15:21
    Regional Developments To Drive Demand For Steel In UAE

    Khaleej Times reported that experts at the Constructsteel Conference said that developments across various industries such as the healthcare and hospitality industries will be a key factor in driving the demand for steel in the UAE. Dr Matar Hamed Al Neyadi, Undersecretary in the Ministry of Energy and Industry UAE, noted that the steel and construction industries in the UAE have matured over the years, and that this is exemplified in the number of complex projects and mega-structures that have been successfully completed across the emirates.

    He added that "Looking ahead to 2030 and beyond, regional investments in hospitality, healthcare, education and infrastructure are likely to continue on an ever-growing scale. The steel and construction industries are well positioned to take advantage of this opportunity to continue contributing to the region's long-term economic prosperity and diversification. By investing in sustainable practices and innovative smart technology, the steel and construction industries will be able to maintain their historic momentum by offering unique products, services and solutions that will enable sustainable construction and the development of smart cities.”

    Source : Khaleej Times
  20. forum rang 10 voda 20 juni 2019 15:23
    ArcelorMittal Italia Against The Growth Decree Changing The Rules

    The Italian subsidiary of ArcelorMittal has expressed to the Italian Government its concerns regarding the current text of the growth decree, amending the legal protections related to the fulfillment of the environmental plan. In the judgment of ArcelorMittal, Italian overnment is changing the rules of the game in the race and this can prevent the achievement of the objectives agreed in the contract. It said "If the Decree were to be approved in its current formulation, the provision relating to the Taranto plant would compromise, for anyone, including ArcelorMittal, the ability to manage the plant while implementing the environmental plan by the Government Italian and dated September 2017.”.

    The company said that the Taranto plant has been seized since 2012 and cannot be managed without the necessary legal safeguards until the complete implementation of the environmental plan.

    The growth decree in its current formulation cancels the existing legal protections when ArcelorMittal agreed to invest in the Taranto plant. Protection that is necessary remain in force until the environmental plan is completed to avoid incurring liability for problems that the current managers have not caused.

    The growth decree must be approved by next 29 June.

    The 2017 environmental plan was designed to address long-standing problems at the Taranto plant and to transform it into a state-of-the-art European steel plant, using the best available technologies, with a total environmental investment of over EUR 1.15 billion.

    Source : Strategic Research Institute
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