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Aandeel ArcelorMittal AEX:MT.NL, LU1598757687

  • 24,300 3 mei 2024 17:35
  • -0,030 (-0,12%) Dagrange 24,160 - 24,680
  • 1.804.974 Gem. (3M) 2,5M

Nieuws en info hier plaatsen (deel 4)

35.173 Posts
Pagina: «« 1 ... 1268 1269 1270 1271 1272 ... 1759 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 10 februari 2021 14:08
    Linde to Set UP ASU at Moon Iron & Steel Company in Oman

    German Linde plc has signed a partnership pact with Moon Iron & Steel Company. Under the partnership, Linde firm will invest USD 26 million in the development of an oxygen production plant to meet the requirements of MISCO’s steel mill at Sohar. Linde will introduce global best practices in the operation and maintenance of air separation unit.

    Sohar based Moon Iron & Steel Company has annual production capacity of 1.2 million tonnes of billets & rebar.

    Source - Strategic Research Institute
  2. forum rang 10 voda 10 februari 2021 14:25
    Supreme Court Seeks PSM Privatization Plans

    Pakistani media reported that Pakistan’s Supreme Court has directed the Privatisation Commission to submit plan regarding privatization of Pakistan Steel Mill. During the course of proceedings, Justice Mazahar Ali Naqvi said that if private steel mills were profitable then what the problem of PSM was. He said that the court was not halting the privatisation process, however, the government should keep the court's decision in mind.

    The Supreme Court also appointed senior lawyer Mr Rashid A Rizvi as a mediator for settlement between employees and mill management. The court therein directed Mr Rizvi to submit a report after meeting with the mill employees and management.

    Last week, Supreme Court had said that PSM does not practically exist, therefore, the court will "will order the closure of the company and the removal of all PSM employees."

    Source - Strategic Research Institute
  3. forum rang 10 voda 11 februari 2021 09:30
    JSW Group to Create Online Marketplace for Building Materials

    Business Line reported that JSW Group plans to expand online marketplace for building related products including steel, cement and paints. Sources close to the development said “JSW Group will remodel its earlier initiative of integrating the sales of Group products under JSW One into an online market place and will invest about INR 500-700 crore to roll out the e-commerce venture with a renewed focus taking the current offline distributors. The online marketplace will tap both the business to business and individual consumers and cross sell products riding on the stupendous growth in online sales due to increase in smartphone and mobile penetration.

    In the B2B space, JSW One will not only offer e-commerce marketplace for small and medium size steel product manufacturers but also provide access to quality steel material and facilitate online transactions, order fulfilment, tracking and inventory management, besides giving much needed credit. For individual home builders, it will offer one stop solution to source the requisite steel, cement and paint for construction besides providing qualified contractors, masons, engineers, architects, painters under one single integrated e-commerce platform.

    JSW Group is also exploring strategic collaborations with other non-competing branded building material products such as sanitary ware, kitchen and home accessories with a view to offer a holistic shopping experience for its home building consumers.

    JSW One platform will also rope in influencers in the home construction industry including contractors, masons, engineers, architects and painters and enable them to grow their respective businesses. It will integrate all influencer loyalty programmes currently offered across its steel, cement and paint businesses under JSW One. This apart, influencers will have access to up skilling, better access to credit, tech enabled project management solution and generate more business opportunities.

    Source - Strategic Research Institute
  4. forum rang 10 voda 11 februari 2021 09:34
    EUROFER Reports Strong Steel Recovery in Q3 of 2020

    Shutdown measures implemented by governments that began in earnest in March 2020 severely impacted manufacturing activity and steel using industrial sectors. However, some of the measures that had the greatest impact on the economy were loosened as of June 2020, though many measures remain in effect or have been reinforced in recent months. The European Steel Association EUROFER’s newly released Economic and Market Outlook report reflects on the effects the COVID-19 outbreak has had on steel output and use. The pandemic has slashed EU steel consumption forecasts and punctured the overall economic outlook. EUROFER Director General Mr Axel Eggert said “The third quarter of 2020 was a period between two waves of the pandemic. Some measures had been relaxed and a partial economic recovery occurred in the third quarter, but the fourth quarter was marred by the reimposition of measures. 2020 is likely to be one of the worst years on record, even if we will see positive figures in the fourth quarter. The EU should use this crisis as an opportunity to use the recovery fund to support industry in meeting its decarbonisation ambitions starting with sectors, such as steel, that have already shown how they can help support the aim. Europe wants to come back from this crisis in a greener, more sustainable way. The European steel industry is ready under the right conditions, with the appropriate regulatory framework, and a means to ensure a global level playing field to roll out new technologies and approaches to revolutionise steelmaking”.

    EU steel market overview - EU28 apparent steel consumption fell by 11.6% YoY in the third quarter of 2020, that is for the seventh consecutive quarter, after an unprecedented drop 25% in the second quarter, and amounted to 32.8 million tonnes. The volume for the third quarter 2020, albeit higher than the record low seen in the second quarter, reflects the unprecedented deterioration in steel demand due to the severe disruption brought by the Covid-19 pandemic, in addition to the negative factors that had materialised in the preceding quarters and had already led to a sharp, continued reduction in steel consumption. As a result, the downturn in steel demand led to the eighth consecutive fall YoY in domestic deliveries in the EU in the third quarter of 2020 ie minus 8%, much lower than minus 28.1% recorded in the second quarter. Data for the third quarter also showed the continued downturn in imports from third countries. After the severe drop of 16.8% in the second quarter of 2020, imports from third countries dropped even more severely in the third quarter of 2020, with a YoY fall of 25.4%, that is the fourth consecutive quarterly drop of more than 10%.

    EU steel using sectors - The COVID-19 outbreak has further hit EU industrial sectors at a time when these had already been experiencing a severe downturn and were coping with serious challenges. Over the course of 2019, business conditions in the manufacturing industry had continued to deteriorate. This downward trend has gained speed in the second half of 2019, particularly in the automotive industry, while the construction sector has continued to outperform other major steel-using sectors. This has resulted in a pronounced slowdown in output growth in steel-using sectors. This has culminated in unprecedented drops over the second quarter 2020, mainly as a result of the severe lockdown measures imposed by governments in March and April 2020. Total output in steel using sectors fell by 24.4% in the second quarter of 2020. In the third quarter of 2020, output in steel using sectors has rebounded compared to the previous quarter, thanks to restarted industrial activity across the EU, but has nevertheless fallen YoY 6.4%.

    Source - Strategic Research Institute
  5. forum rang 10 voda 11 februari 2021 09:34
    US Metal Manufacturers & Users Urge Mr Biden to End 232 Tariffs

    Coalition of American Metal Manufacturers & Users Executive Director Mr Paul Nathanson in a letter to US President Mr Joe Biden has requested for termination of former President Trump’s Section 232 tariffs on steel and aluminum imports as soon as possible and re engage US trading partners in addressing the issue of excess steel and aluminum capacity in China. He wrote “The Trump steel tariffs have hurt small, family owned manufacturers and the communities in which they built their businesses, while fracturing relations with overseas trading partners and spurring a frenzy of retaliatory trade measures with little to nothing to show for it at home. Terminating these tariffs will help fulfil your goals to help everyday Americans and return to normal ties with America’s traditional allies.”

    He wrote “By taking action to terminate the Trump tariffs, your Administration can prevent US manufacturers from shutting down production lines, laying off workers, and potentially even closing their doors. By contrast, the ripple effects of allowing these Section 232 tariffs to remain are substantial. Our member companies report not only record steel prices, but also delivery times stretching 12-16 weeks, causing significant disruptions. Thousands of manufacturers cannot procure the necessary raw materials in the United States in sufficient and reasonably available commercial quantities and of a satisfactory quality leading American companies to rely on imports of steel and aluminum from many of our overseas allies.”

    He added “More than 6.2 million Americans work in industries that use steel, while the steel industry itself directly employs only 140,000 workers as per pre COVID 19 pandemic data. The Trump tariffs primarily served to shift injury from one industry to a much broader segment of the economy. The data on employment in steel and aluminum production shows a muted benefit of approximately 1,000 more jobs. By comparison, a study by the Federal Reserve Board of Governors indicated that increased input costs due to the tariffs are associated with 75,000 fewer jobs in the US manufacturing sector.”

    Coalition of American Metal Manufacturers & Users is a broad organization of US businesses and trade associations representing more than 30,000 companies and more than one million American workers in the manufacturing sector and the downstream supply chains of a wide variety of industries. It has written the letter on behalf of Associated Builders and Contractors Hands On Science Partnership Industrial Fasteners Institute, National Tooling & Machining Association, North American Association of Food Equipment Manufacturers, Precision Machined Products Association & Precision Metalforming Association.

    Source - Strategic Research Institute
  6. forum rang 10 voda 11 februari 2021 09:35
    BHP & JFE Steel to Decarbonise Steel Industry

    Australian iron ore giant BHP has signed a memorandum of understanding with leading Japanese steel producer, JFE Steel, to jointly study technologies and pathways capable of making material reductions to greenhouse gas emissions from the integrated steelmaking process. BHP is prepared to invest up to US$15 million over the five year partnership, which builds on the strong history of technical research and collaboration between the two companies. BHP’s investment will be funded under its USD 400 million Climate Investment Program, set up in 2019 to coordinate and prioritise projects, partnerships, R&D and venture investments to reduce Scope 1, 2 and 3 emissions, invest in offsets and support development of technologies with the highest potential to impact change.

    The JFE-BHP partnership will focus on the role of Australian raw materials to help to increase efficiency and reduce emissions from the blast furnace and direct reduced iron steel making routes. The partnership intends to study the properties of raw materials, with focus on specific areas such as iron ore pre-treatment, use of enhanced iron ore lump, high quality coke and DRI, required to decrease iron and steelmaking emissions and support a transition to a low carbon future. Throughout the collaboration the two companies will also share knowledge on reducing carbon emissions across the steel value chain.

    This JFE-BHP partnership follows other BHP investments to support the reduction of value chain emissions, including up to USD 35 million for the collaboration with China’s largest steelmaker, China Baowu, and awarding BHP’s first LNG fuelled Newcastlemax bulk carriers contract, with the aim to reduce CO2 emissions by 30% per voyage.

    Source - Strategic Research Institute
  7. forum rang 10 voda 11 februari 2021 09:52
    Hyundai Steel Develops 9% Ni Plate for Ship’s LNG Fuel Tanks

    Korea Times reported that Hyundai Steel will develop new types of steel that can withstand extremely low temperatures and supply them to liquid natural gas propulsion ships. Hyundai Steel has signed an order for materials for LNG powered container ship fuel tanks under construction by Hyundai Heavy Industries. The material for the fuel tank that is contracted is 9% Nickel thick plate that was developed in December 2020. The contracted amount of orders will be two LNG-powered super-sized container ships. Starting with this order, Hyundai Steel plans to actively win additional orders for LNG propulsion ship fuel tanks as well as land storage tanks used in LNG plants and LNG terminals.

    The 9% Ni thick plate developed by Hyundai Steel is an ultra high performance steel used in LNG fuel tanks due to its excellent shock tolerance and excellent welding performance even in extremely low temperature environments of below minus 196 degree Celsius. Hyundai Steel has started development of 9% Ni thick plate new steel since September 2018 and secured stable quality levels in March last year as a result of focusing on R&D capabilities. In December, the company acquired all nine major domestic and international ships’ classification certificates, including KR of Korea, ABS of US and DNVGL of Norway & Germany and completed evaluation of Hyundai Heavy Industries' customers at the same time to prepare for the order.

    LNG has the advantage of significantly less pollutant emissions than conventional ship diesel, but technical restrictions such as keeping the inside of the storage facility below minus 165 degree Celsius is followed.

    Source - Strategic Research Institute
  8. forum rang 10 voda 11 februari 2021 09:56
    Thyssenkrupp Raises Earnings Forecast for 2020/2021

    Thyssenkrupp has made a good start to the new fiscal year. In the 1st quarter 2020/2021 the group of companies posted order intake totalling EUR 7.8 billion, up 6% YoY before the outbreak of the coronavirus pandemic. Sales from October to December 2020 amounted to EUR 7.3 billion as compared to EUR 7.6 billion in October to December 2019. Increasing revenues were recorded by the segments Industrial Components, Automotive Technology and Steel Europe. However, this could not offset partly pandemic related decreases at Materials Services, Marine Systems and Multi Tracks. Adjusted EBIT at EUR 78 million was significantly higher than the prior year figure of minus EUR 185 million. All segments, except Multi Tracks, made positive earnings contributions. In view of the good 1st quarter performance, thyssenkrupp has raised its earnings forecast: for the 2020/2021 fiscal year the group now expects almost break even adjusted EBIT as compared to previously expected loss in the mid three digit million euro range.

    Thyssenkrupp AG CEO Ms Martina Merz said “In a continuing uncertain market environment, we had a good first quarter: we’re noticing signs of an economic recovery and our measures to improve performance in the businesses are starting to bear fruit. We’ve posted positive results, but we’re not out of the woods yet. Further efforts are needed to make thyssenkrupp into a powerful group of companies on a long-term basis. That’s why we’re continuing to press ahead with the transformation.”

    In a structurally extremely challenging market environment, order intake and sales at Steel Europe were up 17% and 7% respectively from the prior year. After the unprecedented pandemic-related demand slump in spring and summer 2020, business is now picking up again. Restocking at steel service centers, catch up effects mainly at automotive customers, and good demand from appliance manufacturers and the construction sector are having a positive impact. As a result of increasing capacity utilization together with an improved product mix and initial effects from the ongoing restructuring with advancing personnel reduction and the initiated performance measures, adjusted EBIT improved significantly to EUR 20 million as compared to minus EUR 127 million in prior year

    Forecast for fiscal year 2020/2021 raised - Despite the expected recovery of important markets and the visible structural improvements to the businesses, thyssenkrupp still feels it appropriate to offer a cautious outlook overall for the 2020/2021 fiscal year. The economic and geopolitical uncertainties give the group only limited planning reliability for the cyclical materials businesses and for auto components, particularly in the second half of the current fiscal year. Nevertheless, following the good start to the fiscal year the company has raised its full-year forecast. Depending in particular on the further progression of the coronavirus pandemic, sales will grow in the high single-digit percentage range, but will still remain well below the level prior to the pandemic. Mainly as a result of improved demand in the materials and automotive components businesses, thyssenkrupp expects a significant improvement in adjusted EBIT towards almost break even. Despite clear operating improvements and the absence of impairment losses on non-current assets from the prior year, thyssenkrupp expects a net loss in the high three digit million euro range.

    Source - Strategic Research Institute
  9. forum rang 10 voda 11 februari 2021 09:56
    NLMK Verona Orders 70 Tonne VOD Plant from Tenova

    At the end of 2020, NLMK Verona has placed an order with Tenova for the turnkey supply of a 70 tonne VOD plant, with level 1 & 2 automation, deslagging machine and auxiliary equipment. The scope of the contract includes engineering, supply, erection of all equipment, supervision of erection, commissioning and training. The new VOD plant will expand the existing production route, which currently includes an electric arc furnace, two ladle furnaces, a vacuum degassing system, a continuous casting plant, and an ingot casting plant.

    The increasing demand for high quality steel makes the vacuum treatment an essential step in secondary metallurgy process. Tenova Vacuum Degasser units VD VOD feature effective removal of hydrogen, oxygen and or carbon, based on proven technology and experience. The new VD VOD plant will in fact increase the overall production rate of vacuum treated steel and the product range of VOD treated steel. Moreover, thanks to new deslagging machine and the vacuum treatment, the steel quality of the final products will improve, allowing NLMK to increase the range of quality steel already supplied.

    Source - Strategic Research Institute
  10. forum rang 10 voda 11 februari 2021 09:57
    Nucor Expects Record Earnings in Q1 of 2021

    Leading US steel maker Nucor Corporation expects to generate record earnings for its first quarter ending April 3, 2021. Nucor believes its first quarter net earnings could exceed USD 900 million. Nucor's President and Chief Executive Officer Mr Leon Topalian said “We are encouraged by positive economic trends and the robust demand we are seeing across our markets. We currently expect our first quarter 2021 results to significantly exceed Nucor's previous record for quarterly net earnings, set in 2008. As we move through 2021, we remain focused on building on our momentum, meeting and exceeding our customers' needs, and delivering sustainable value creation for Nucor stockholders."

    The Company's sheet & plate and bar & structural mills continue to forecast increased profitability in the first quarter of 2021 as compared to the fourth quarter of 2020. Realized prices and shipment volumes have increased for Nucor's steel mills in the first quarter as compared to the fourth quarter of 2020.

    The profitability of the Company's downstream steel products segment is expected to be similar to the segment's results for the fourth quarter of 2020.

    The raw materials segment's performance in the first quarter of 2021 is expected to be significantly improved as compared to the fourth quarter of 2020 due to higher raw materials selling prices.

    Source - Strategic Research Institute
  11. forum rang 10 voda 11 februari 2021 10:00
    Thyssenkrupp Investing in Future Viability of Steel Business

    Following approval of the investment funds, the first contracts are about to be awarded. The plan is to convert the casting rolling line in Duisburg into a new continuous casting line with a downstream hot strip mill the main components of which are new. Moreover, the existing continuous casting line 3, also in Duisburg, will be rebuilt to optimize the slab production. Investments are also planned at the Bochum site: The plan is to build a new double reversing mill and an annealing and isolating line. Both will strengthen the Bochum site’s position as a competence center for steels for e-mobility. The projects involve an overall investment volume in the high three digit million range. Completion of all projects is scheduled for the end of 2024.

    With this investment package for the steel business, the biggest since the construction of the Schwelgern coking plant in 2003, thyssenkrupp is sharpening its focus on technology and intends to further strengthen its strong position in European competition. To reach these goals and to realize the full earnings effects of the investments, further significant cost cuts will be necessary. Thyssenkrupp Steel sees no alternative here, as the financial consequences of the corona crisis are expected to have an impact for many years to come.

    ThyssenKrupp’s goal behind the Steel Strategy 20-30 is to produce an even higher value product portfolio, while optimizing the cost structure. The growing requirements of automotive customers and individual industrial sectors play a particularly important role in this context. These include crash-relevant sheet steel for safety architecture of vehicles, improved surfaces, or thinner and higher-performance steels for e-mobility.

    Source - Strategic Research Institute
  12. forum rang 10 voda 11 februari 2021 10:01
    Danieli Slab Grinding Plant in Operation at Erdemir in Turkey

    OYAK Mining Metallurgy Group’s Erdemir has released final acceptance for the new HGS600 Super Grinder plant installed at Zungoldak in Turkey. The new conditioning plant, which was supplied on a turnkey basis, processes approx. 350,000 tonnes per year in ultra low, low & medium carbon and alloy steel slabs with an average 2 mm removal depth. The plant includes a HGS600S oil-lubricated 630-kW spindle, a newly designed edge-grinding unit, TWS/Automation platform along with the E-Cube system for grinding at variable, stepless angles, and the Hi-Grind system for automatic control of grinding pressure.

    Furthermore, the whole plant is designed with CastGrind technology to process hot slabs up to 700 degree Celsius. The package is completed with an IntelliGrind surface defects inspection system inclusive of functions for automatic detection and classification.

    Source - Strategic Research Institute
  13. forum rang 10 voda 11 februari 2021 10:01
    Bornay Commissions High Precision Tube Welding Plant from SMS

    Spanish town of Ibi head quartered Bornay SL has successfully commissioned High Frequency RD 40 tube welding line from SMS group. The new tube welding line enables Bornay to produce high-quality tubes with round, square or rectangular cross-sections and yield points of up to 1,200 MPa. The line can produce tubes with diameters between 10 and 40 millimetres and wall thicknesses of up to 4.5 millimetres. Tubes with square cross-sections are manufactured in dimensions of up to 30 x 30 millimetres and rectangular products in dimensions of up to 40 x 20 millimetres with wall thicknesses of maximum 4.00 millimetres.

    The products are used as precision tubes in the automotive industry, but also for furniture, agricultural applications and the structures for solar panel trackers. Manufacturing these tubes requires a high degree of precision, which is the reason why Bornay has placed high demands on the new tube welding line right from the start.

    The production facility in the Alicante region, Spain, has been producing welded steel tubes for various sectors since 1965.

    Source - Strategic Research Institute
  14. forum rang 10 voda 11 februari 2021 10:02
    South Africa Establishes Full Rebate on Import of Tinplate

    South African Revenue Administration has adopted a notice on 5 February 2021 establishing a rebate facility for the importation of tinplate. The measure has been the result of an investigation carried out by the International Trade Administration Commission. According to the ITAC investigation report, there is currently no manufacturer of tinplate in the SACU region and the applicable customs duty has an unnecessary cost-raising effect on final users of the subject product. Subject products are classified under the tariff subheadings 7210.11, 7210.12.10, 7210.12.90 and 7212.10. Previously to this decision, the import duty on the subject products was 10%.

    The rebate facility will be temporary in nature, but SARS didn’t announce a termination date.

    Notably, the new changes do not affect the EU, EFTA and SADC countries as they already enjoyed a full rebate.

    Source - Strategic Research Institute
  15. forum rang 10 voda 11 februari 2021 10:03
    KIOCL Reports Recovery in Q3 on Strong Pellet Demand from China

    KIOCL Ltd has recorded Profit before tax for Q3 at INR 86 crore and profit after tax of INR 63.82 crore during the third quarter of 2020-21 as against a loss of INR 3.66 crore in the corresponding period of the previous fiscal. The income from operations stood at INR 546.28 crore during Q3 of 2020-21 as against INR 478.24 crore in Q3 of 2019-20. During the third quarter of 2020-21, pellet production and despatches stood at 0.489 million tonnes and 0.522 million tonnes respectively. KIOCL Ltd Chairman & Managing Director Mr MV Subba Rao said that “The sea borne iron market depicted positively during December 2020 due to good demand from Chinese steel mills and lower port stock. Strong demand for iron ore pellet in overseas market due to higher steel production in China, robust domestic demand due to shortage of iron ore, and higher steel prices resulted in encouraging financial performance of the company.”

    Cumulative pellet production for the first 9 months was 1.49 million tonnes and dispatch stood at 1.64 million tonnes. Total cumulative revenue is INR 1444 crore against the target of INR 1446 crore.

    Source - Strategic Research Institute
  16. forum rang 10 voda 11 februari 2021 10:03
    Steel Ministry Funds INR 15 Crore Per Year for R&D in Steel Sector

    India’s Ministry of Steel has sanctioned INR 15 crore funds each in 2018-19 & 2019-20 for Promotion of Research & Development in Iron & Steel Sector. The energy efficient and environment friendly technologies adopted by steel industry as part of technological up gradation, modernisation, expansion programme & projects include the following

    Coke Dry Quenching - Power generation from the waste heat from CDQ

    Sinter Plant Heat Recovery - Power generation from Sinter Cooler Waste Heat

    Bell Less Top Equipment in Blast Furnace

    Top Pressure Recovery Turbine in Blast Furnace

    Pulverized Coal Injection system in Blast Furnace

    Hot stove waste heat recovery in Blast Furnace

    Dry type Gas Cleaning Plant in Blast Furnace

    Cast House & Stock House Dedusting system

    Converter Gas Recovery in BOF

    Energy Monitoring & Management Systems

    Secondary Fume Extraction System in Steel Melting Shop

    Regenerative Burners in Re-heating Furnaces of Rolling Mills

    Hot charging process of continuously cast products at higher temperature directly to Rolling Mills

    Direct Rolling Process eliminating the need for Re-heating furnaces.

    Energy efficient technology for Hot Strip Mill - Flexible Thin Slab casting & Rolling

    Near Net Shape casting: Bloom cum Beam Blank caster, Bloom cum Round caster etc

    Adoption of Variable Voltage Variable Frequency Drives for high capacity electric motors

    The wastes generated are recycled back within the steel plants. Solid wastes such as Blast Furnace slag is granulated within the steel plant and sold to cement industry. Gaseous wastes generated from the processes are further used in downstream processes in the plant such as in the reheating furnaces and power generation. Further, Research & Development projects have also been undertaken for utilization of steel slag in road making, construction, agriculture etc.

    Source - Strategic Research Institute
  17. forum rang 10 voda 11 februari 2021 10:04
    Turkish Cemtas Doubles Net Profit in 2020

    SeeNews reported that Turkish steel manufacturer Cemtas Celik Makina Sanayi Ve Ticaret AS said that its non-consolidates net profit soared to TRY 138.8 million (USD 19.7 million) in 2020 up from TRY 56.4 million in 2019. The company's revenue rose to TRY 788.3 million in 2020 as compared to TRY 693.0 million in 2019. Cemtas' gross profit from commercial operations in 2020 jumped to TRY 142.4 million from TRY 89.4 million in 2019. The company's cost of sales increased to TRY 645.8 million in 2020 from TRY 603.6 million in 2019.

    Established in 1970, Cemtas is the second-largest producer of alloyed bar steels in Turkey and supplies the European automotive industry, exporting around 60 percent of its products. The company has its own steel production and rolling capacities at the Bursa location. It produces structural, case-hardened, heat-treated and spring steels, as well as micro alloyed grades, stainless steel, machining and boron steels.

    Source - Strategic Research Institute
  18. forum rang 10 voda 12 februari 2021 10:51
    Mr LNM to Become Executive Chair & Mr Aditya CEO of ArcelorMittal

    The Board of Directors of ArcelorMittal announced that Mr Aditya Mittal, currently President, CFO and CEO ArcelorMittal Europe, will become Chief Executive Officer of the company. Mr Lakshmi N Mittal, who founded the company in 1976 and is currently Chairman and CEO, will become Executive Chairman. In this position he will continue to lead the Board of Directors and work together with the CEO and management team.

    Mr Aditya Mittal joined Ispat International in 1997 from Credit Suisse where he worked in the investment banking division. His first task was to oversee the IPO of Ispat International on the New York Stock Exchange. He subsequently became Head of M&A, leading the company’s expansion into Eastern Europe. As CFO of LNM Holdings he led the combination of Ispat International with LNM to form Mittal Steel, of which he became CFO. He identified the opportunity of combining Arcelor and Mittal Steel and led the merger offer which culminated in the creation of ArcelorMittal. As well as being CFO of ArcelorMittal he took up operational responsibilities, first as CEO ArcelorMittal Americas and then as CEO of ArcelorMittal Europe. He was named President in 2018.

    As a result of these developments, Mr Genuino Christino will become Chief Financial Officer. Mr Christino joined the company in 2003 and has held the position of Head of Finance since 2016. Mr Christino joined Cia Belgo Mineira in Brazil, currently ArcelorMittal Brazil, in 2003 from KPMG where he worked as an external auditor and consultant for over 10 years in Brazil and in the UK.

    Source - Strategic Research Institute
  19. forum rang 10 voda 12 februari 2021 10:52
    ArcelorMittal NA to Sell 40 Million Shares in Cleveland-Cliffs

    ArcelorMittal North America Holdings LLC, a wholly owned subsidiary of ArcelorMittal SA, announced an agreement to sell 40 million Cleveland-Cliffs common shares through a fully underwritten public market offering. The transaction is a part of a combined primary and secondary public offering of Cleveland-Cliffs’ shares.

    This divestment crystalizes additional proceeds from the transaction with Cleveland-Cliffs announced on 28 September 2020 and completed on 9 December 2020. The proceeds from the sale of Cleveland-Cliffs common shares will be used for a new share buyback programme of ArcelorMittal common shares. The details and conditions of the buyback will be announced following the expiry of the Company’s current closed period on 15 February.

    Following the sale of 40 million of Cleveland-Cliffs common shares ArcelorMittal North America Holdings LLC will continue to hold approximately 38 million common shares in addition to shares of non-voting preferred stock redeemable at Cleveland-Cliffs’ option for an equivalent value of approximately 58 million common shares.

    Source - Strategic Research Institute
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