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British Steel Hayange Mill in France up for Sale Separately - Reports

British media reported that Chinese buyers of British Steel Jingye has reportedly been left furious as it emerged that British Steel’s French factory is for sale separately from the rest of the company. The deal included all of British Steel’s assets, covering subsidiaries such as the Hayange mill in northern France, which produces rail for train lines. However, the Financial Times reported that a new process is underway to find a buyer for the factory, which is a strategic industrial asset for the French government, meaning it can grant or withhold approval for any change of ownership. The new sale process has been undertaken as contingency planning in case the Jingye deal fell through. Jingye said “Jingye Group has submitted a request to the French authorities for approval of our investment and has been engaged in constructive discussions with the French government.”

Last week adverts in the Financial Times and French financial daily Les Echos were spotted offering the sale of an unnamed steel rail production business of about 450 people in northern France. Sources confirmed to the Financial Times that the site in question was indeed the Hayange plant. The plant makes steel for the French rail network, including the state-owned train operator SNCF, and is considered a strategic asset.

The GMB union expressed concern at the new development. National officer Ross Murdoch said: "GMB will be seeking assurances from Jingye that they seek to keep the business complete. We'll also be seeking commitments from Jingye that their business plan is robust enough to withstand any proposed split and that there is no danger of the deal for the UK sites being scuppered, should the French government decide to withdraw their approval."

Last month China’s Jingye struck a deal to buy the whole of the collapsed manufacturer, with the firm to pay about GBP 50 million to take over the business, saving 4,000 jobs in the process.

Source : Strategic Research Institute
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US Steel Restarts BF 14 and BF 6 at Gary Works

S&P Global Platts reported that US Steel has restarted two blast furnaces at its Gary Works steel mill in Indiana and is in the process of starting up another two furnaces at the facility. US Steel spokeswoman Ms Amanda Malkowski said "After a brief outage, blast furnaces 14 and 6 are now fully operational. The third, blast furnace 4, is expected to be operational early next week."

Separately, US Steel said it is in the process of restarting the previously idled blast furnace 8 at the facility as the 4 blast furnace is scheduled for planned maintenance in early 2020. Preparations for the start up of blast furnace #8 began earlier in November and it is expected to be operational by next week,

Extensive flooding last week caused the mill to shut operation, but the company says none of the facility's blast furnaces were damaged and customers have not been affected.

Source : Strategic Research Institute
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NCLAT Sets Aside NCLT Conditions on JSW Steel Resolution Plan for Vardhman Industries


Financial Express reported that the National Company Law Appellate Tribunal has set aside conditions imposed on JSW Steel by the Delhi bench of the National Company law Tribunal, relating to unrecovered dues, carried forward losses and rights of subsidiaries in the Vardhman Industries case. A bench headed by NCLAT chairperson justice SJ Mukhopadhyay held that a successful resolution applicant cannot suddenly be faced with undecided claims. He said “This would amount to a hydra head popping up which would throw into uncertainty amounts payable by a prospective resolution applicant who successfully takes over the business of the corporate debtor.”

JSW’s resolution plan for the stressed Vardhman Industries was approved by the National Company Law Tribunal in December 2018. The NCLT, on April 16, 2019, modified the resolution plan holding that any unrecovered amount due to VIL from any third party would be used to pay the balance amount to dissenting financial creditors. It also directed the successful resolution applicant to approach Income Tax department for the entitlement of carry forward losses. It also declined to end claims of VIL’s subsidiaries, associate companies and joint ventures over it. JSW had argued that the NCLT was not empowered to impose any condition after the committee of creditors had approved the plan.

Source : Financial Express
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Delhi Court Dismisses Bail Petition of Mr Sanjay Singhal

Delhi court has refused to grant interim bail to former CEO of Bhushan Steel & Power Limited Mr Sanjay Singhal. Special Judge Bharat Prashar said “Keeping in view the overall facts and circumstances of the case, coupled with the submissions made, the present application has been made solely with a view to obtain interim bail on medical grounds so I without touching on to the merits and demerits of the prosecution case, am of the considered opinion that the nature of ailments with which accused is stated to be suffering even when considered in the light of medical record produced does not warrant admission of accused to bail.”

He has further remanded to judicial custody till 19 December by Special judge Bharat Parashar.

Source : Strategic Research Institute
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US DoC Continues Anti-Dumping on Imports of Steel Threaded Rods from Taiwan

US Department of Commerce announced an affirmative final determination in the antidumping duty investigation of imports of carbon and alloy steel threaded rod from Taiwan, finding that exporters from this country have dumped carbon and alloy steel threaded rod in the United States at a margin of 32.26 percent. Commerce will instruct US Customs and Border Protection to continue to collect cash deposits equal to the applicable final weighted-average dumping rate.

The petitioner is Vulcan Threaded Products Inc of Pelham Alabama

In 2018, imports of carbon and alloy steel threaded rod from Taiwan were valued at an estimated USD 156 million.

Source : Strategic Research Institute
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Alacero Concerned over Mr Trump Tweet

The Latin American Steel Association Alacero is surprised and concerned over the decision by the president of the United States, Donald Trump, to restore the import tariffs over steel and aluminium from Brazil and Argentina with the argument that these countries have led to a massive devaluation of their currencies, under the assumption that it is not good for American farmers. Alacero said “We believe that in free trade the currencies fluctuate according to the internal and external scenarios of each country without the manipulation of governments, at least in the cases of Argentina and Brazil. For our association, representative of the Latin American steel chain, the manipulation of tariffs on important commodities for the economies of the partner countries, in an attempt to solve problems that are clearly outside the original subject of the debate, is a wrong precept against the possibility of reaching joint agreements as countries that have collaborated closely before.”

Alacero reinforced that the decision expressed in the president's Twitter message harms the economy of his own country since the steel industry chain in the United States needs steel products that are not always produced internally, depending on partner countries such as Brazil and Argentina. It said “Such positions of the US government in the face of current international trade conflicts bring an even more serious impact to Latin America, whose economies need stability more than ever to strengthen their growth plans for the immediate future. Importantly, Alacero, together with Argentina, Brazil and other countries of the region, have an active role as strategic allies of the United States of America, in the fight against global steel production overcapacity, integrating the Global Forum of Excess Capacity Steel in the framework of the OECD.”

Source : Strategic Research Institute
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Maithan Steel Plant Workers Confine MESCO MD Ms Rita Singh

Express News Service reported that protesting non payment of salary and other dues for over 10 months, workers of Maithan Steel Plant confined industrialist and managing director of MESCO Group Ms Rita Singh to her company guesthouse in Kalinga Nagar for more than 22 hours from Tuesday night. Ms Singh had come to Kalinga Nagar for some business-related work on Tuesday and was staying in the guesthouse. Hundreds of Maithan plant workers staged protest in front of the guesthouse blocking the entrance. The industrialist was saved from the ire of the protestors after Kalinga Nagar Additional District Magistrate Santosh Kumar Mishra and Jajpur SP Charan Singh Meena rushed to the spot and rescued her.

As per the negotiation, Ms Singh agreed to pay one-month salary to the agitating workers from her personal account. She paid the amount instantly following which the agitators were pacified.

Her daughter Ms Sipra Singh is the managing director of Maithan Ispat Plant in Kalinga Nagar.

Source : Express News Service
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Severstal Karelsky Pellet Plant Invests in Wastewater Treatment

Severstal’s Karelsky Okatysh together with specialists from the Institute for Industrial Ecology of the North of the Kola Science Center of the Russian Academy of Sciences, have begun to select a method for treating wastewater from the Korpangsky deposit before dumping in the stream Bezymyanny. It is planned to purify water using a natural component peat substrate. The main work on the project will begin in 2020, and investment in the project more than 10 million rubles.

Also next year, the supply of equipment for a pilot desulfurization plant will begin. If the project shows its effectiveness, it will be replicated to all the roasting machines of the plant. In addition, the plans include the construction of a large tire processing plant. The project will be implemented in conjunction with another Severstal raw material asset, Olkon.

In 2018 the plant launched the second phase of the tailings thickening complex, now up to 70% of the water is in the company's internal circulation. Investments in this project amounted to 1.3 billion rubles. Work in this direction will be continued. In particular, it is planned to build a closed loop of the new tailing compartment. An important environmental component is also present in the most ambitious project in the history of the Karelian Pellet - the construction of a complex of cyclic-flow technology worth 8 billion rubles.

Source : Strategic Research Institute
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Carpenter Technology Opens Emerging Technology Center for Additive Manufacturing

Carpenter Technology Corporation announced the opening of its Emerging Technology Center in Athens in Alabama. Carpenter Technology’s 500,000-square-foot ETC is North America’s newest additive manufacturing facility containing true end-to-end capabilities. The ETC provides the capability to atomize a range of specialty alloys into metal powder and manufacture the powder into finished parts using 3D metal printing. Its downstream equipment for taking the initially produced part to a final finished product includes the latest, state-of-the-art quick cooling Hot Isostatic Press system in the United States, as well as vacuum heat treating to optimize the material properties of high-value specialty alloy components. Parts manufactured in the ETC can then be qualified for use in a range of cross-industry applications, from aerospace and transportation to oil and gas and energy.

Critically, the ETC is designed to maintain full traceability and provide analytical insights throughout the manufacturing process via a digital thread, allowing Carpenter Technology to manage the entire manufacturing process under one roof with a streamlined workflow, a key differentiator for the Company in the AM industry.

The ETC investment complements Carpenter Technology’s 500,000-square-foot Alabama manufacturing facility, which began operations in 2014, and produces high-end specialty alloy products, primarily for the aerospace and energy markets.

Source : Strategic Research Institute
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Metalloinvest Lebedinsky GOK Implements Electric Filters

Metalloinvest is implementing a large-scale investment project to reconstruct the gas purification systems at Lebedinsky GOK’s pelletising unit. Scrubbers in the aspiration system have been replaced with electric filters, devices in which gases are purified with the help of an electric field. Metalloinvest favours this method of dust collection in the production process as the most effective. The first such electric filter was built on the drying path of Pellet Plant #4 in December last year. Currently, construction of an electric filter for flue gas cleaning of drying drums and ball mills at the charge preparation section is nearing completion. Supports and gas ducts have been mounted, thermal insulation is being installed, and electrical installation work is being finalised. The new module is expected to be operational in December.

In the middle of the year, another electric filter will be built on the second path of Pellet Plant #3. The foundation for the facility has already been laid.

Source : Strategic Research Institute
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Ms Portillo joins Big River Steel BIG for Port of Brownsville Project

Former Brownsville city commissioner and aide to US Rep Filemon Vela Ms Deborah Portillo is to play a big part in bringing a USD 1.6 billion high tech Big River Steel in Rio Grande Valley. Mr Portillo has been named executive vice president of economic development for Brownsville Investor Group LLC, part of Osceola Arkansas-based Big River Steel to serve as Big River Steel’s development entity and, as such, will coordinate Big River Steel’s interactions with various state, regional and local government entities. BIG will also work to structure recruitment and training programs that will be implemented by colleges and universities in close proximity to the selected site

Big River Steel is considering whether to build a new, technologically advanced scrap recycling and steel production facility at the Port of Brownsville. Big River Steel has a lease option with the Brownsville Navigation District for 800 acres next to the Brownsville Ship Channel.

Source : Rio Grande Guardian
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'Italië bereid tot lening voor staalfabriek'

Gepubliceerd op 8 dec 2019 om 14:21 | Views: 78

ArcelorMittal 06 dec
16,10 +0,55 (+3,51%)

ROME (AFN) - De Italiaanse regering is bereid een noodlening te verstrekken om de Ilva-staalfabriek in het zuiden van het land te redden. Die optie komt wel pas in beeld als het Zuid-Europese land geen andere investeerder kan vinden, zei minister Stefano Patuanelli van Economische Ontwikkeling tegen de Britse zakenkrant Financial Times.

De Ilva-fabriek in Tarente is al langer een zorgenkindje. Nadat de fabriek failliet was gegaan, werd ArcelorMittal uitgekozen om de onderneming te redden. Het in Amsterdam genoteerde staalbedrijf maakte echter onlangs bekend zich terug te willen trekken. Door het intrekken van een milieugarantie door de Italiaanse overheid zou ArcelorMittal de Ilva-fabriek niet kunnen laten draaien totdat vernieuwingen zijn uitgevoerd. Daarmee wordt de fabriek onrendabel.

Een noodlening aan Ilva zou Italië honderden miljoenen kosten en mogelijk voor problemen zorgen met Europa. De Europese Commissie onderzoekt al of een door de overheid geleide redding van luchtvaartmaatschappij Alitalia toegestaan is of neerkomt op verboden staatssteun.
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