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Home  /  Forum  /  Arcelor Mittal  /  Nieuws en info hier plaatsen (deel 4)

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Aandeel ArcelorMittal AEX:MT.NL, LU1598757687

  • 24,160 31 mei 2024 17:35
  • +0,250 (+1,05%) Dagrange 23,760 - 24,180
  • 6.882.105 Gem. (3M) 2,6M

Nieuws en info hier plaatsen (deel 4)

35.173 Posts
Pagina: «« 1 ... 1198 1199 1200 1201 1202 ... 1759 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 23 juli 2020 14:38
    SAIL SSP Develops Highly Corrosion Resistant Super Duplex Stainless Steel

    Steel Authority of India Limited has developed the capability to produce Super Duplex Stainless Steel in SS 32205 grade at its Salem Steel Plant. Currently, SAIL is among the few Indian steelmakers which has developed this grade of steel. This grade of stainless steel is mainly imported so far. The Super Duplex Stainless Steel has superior corrosion resistance with higher strength and formability. Due to these characteristics, it can be effectively used in various applications in corrosion prone areas, mainly in chemical processing equipment, oil & gas exploration, pulp & paper industries, food processing equipment and biofuel plants. All these applications require high corrosion resistance steel with strength, which can be met by Super Duplex Stainless Steel of SS 32205 grade having 3% molybdenum.

    Earlier, SAIL SSP developed Duplex Stainless Steel of SS 32202 grade having 0.4% molybdenum content and has already serviced the orders for it. With the new capability to produce Super Duplex Stainless Steel of SS 32205 grade, SAIL has enriched its product basket further and will be able to cater to high-end steel requirement in the country.

    The superior qualities of corrosion resistance, strength and formability in this new grade come through the presence of chromium, molybdenum and nitrogen in the steel. This stainless steel also has higher yield strength almost twice that of standard austenitic steel providing flexibility to use the steel in thinner gauges for same strength.

    Source : STRATEGIC RESEARCH INSTITUTE
  2. forum rang 10 voda 23 juli 2020 14:49
    COVID19 Hits Salzgitter Group Performance in H1 of 2020

    As a result of the effects of the COVID-19 pandemic, the subsidiaries of the Salzgitter Group recorded a 10 to 70 percent decline in capacity utilization in the second quarter of 2020 compared to 2019. This is reflected in the preliminary figures for the first half of the year. Salzgitter Group closed with a loss of EUR 127.8 million before taxes as compared to profit of EUR 145.3 million in H1 of 2019. The Salzgitter Group's external sales declined to EUR 3.6 billion due to volume and earnings as compared to EUR 4.5 billion in H1 of 2019.

    Based on the half-year results, the Executive Board of Salzgitter AG decided to specify the forecast for the 2020 financial year: We assume that the second and third quarters were able to mark the low point of the current crisis. Nevertheless, the strong and chronological course of the conceivable revival of the overall economic situation in the second half of the year is subject to high levels of uncertainty. The further business development of the Salzgitter Group cannot be forecast in the usual way in this volatile environment, so that only a rough assessment is possible. Against this background, Salzgitter expects a negative pre-tax result in the low to medium three-digit million euro range.

    Source : STRATEGIC RESEARCH INSTITUTE
  3. forum rang 10 voda 23 juli 2020 14:49
    National Green Tribunal Rules Against Directs Steel Pickling Industries in Wazirpur Delhi

    Following a plea seeking action against stainless steel pickling units operating in residential areas leading to pollution, the National Green Tribunal has directed the Delhi government and the Delhi Pollution Control Committee to take appropriate action against such industries that are operational in Wazirpur in violation of the Master Plan. Taking note of a report furnished by the Central Pollution Control Board, a Bench headed by NGT chairperson Justice Adarsh Kumar Goel said “We accept the report and direct further action accordingly. Since there is no carrying capacity for the polluting industries in question, the Delhi government and DPCC may proceed accordingly.”

    The Bench added, “Compensation assessed by the expert committee for damage to the environment, that is INR 61 crore, minus the amount already paid, be deposited by the Delhi government with the CPCB and spent for restoration of environment as per the restoration plan to be prepared by the CPCB and DPCC.”

    The tribunal also said that the State government is free to recover the amount of compensation from the violators or from erring officers or authorities, by following due process of law.

    The NGT-appointed expert committee had informed the Bench that steel pickling units and other hazardous industries can only be permitted in the Wazirpur Industrial Area if they are excluded from the negative list of Master Plan for Delhi-2021.

    The directions came when the green panel was hearing a group of petitions pertaining to environmental hazards caused by the steel pickling units and the handling of hazardous waste.

    Source : STRATEGIC RESEARCH INSTITUTE
  4. forum rang 10 voda 23 juli 2020 14:50
    TMK Announces Operational Results for Q2 & H1 of 2020

    Leading producers of tubular products for the oil and gas industry TMK announced its operational results for the second quarter and first half of 2020.
    2Q and 1H 2020 Summary Results

    2Q 2020 vs 1Q 2020 - Total pipe shipments declined by 8% quarter-on-quarter, driven by a decrease in welded pipe shipments at the Russian division. Seamless pipe shipments increased by 6% quarter-on-quarter, reflecting higher shipments of seamless OCTG pipe (up 8% quarter-on-quarter) at the Russian division and growth in shipments of seamless industrial pipe at both the Russian and European divisions. Welded pipe shipments were down 40% quarter-on-quarter, due to lower shipments across all welded pipe segments at the Russian division, with large diameter pipe consumption contracting by 42% quarter-on-quarter. Welded pipe shipments were negatively impacted by serious pressure on pipe consumption amid the challenging macro environment.

    1H 2020 vs 1H 2019 - Total pipe shipments were down 13% year-on-year, due to a decrease in seamless pipe shipments at both the Russian and European divisions, and lower shipments of welded pipe at the Russian division. The decline in shipments reflects a challenging global macro environment caused by the COVID-19 pandemic and oil price volatility. Seamless pipe shipments decreased by 8% year-on-year, mainly due to lower shipments of seamless OCTG pipe at the Russian division (down 8% year-on-year) and a deterioration of demand for seamless industrial pipe at the European division. Welded pipe shipments were down 26% year-on-year, reflecting a decrease in shipments across all welded pipe segments at the Russian division.

    3Q 2020 Outlook - TMK expects the pipe shipments at the Russian division to remain under pressure in the third quarter, mainly due to continuing market challenges and pre-planned upgrade and maintenance works at the Russian division’s key production facilities. In Europe, TMK expects the gradual recovery in industrial pipe consumption to continue going forward.

    Source : STRATEGIC RESEARCH INSTITUTE
  5. forum rang 10 voda 23 juli 2020 14:51
    MMK & Wepuko PAHNKE ink pact for supply of Hydraulic Pump Units

    Iron and Steel Works has signed a contract with the German company Wepuko PAHNKE GmbH for the supply of two sticky scale descaling hydraulic pump units. In 2019, the companies agreed to conduct tests using a mobile Wepuko PAHNKE descaling hydraulic pump at MMK's mills 170 and 370. The main goal of the tests was to obtain a high percentage of water descaling on new grades of steel with a high content of silicon and chromium, with the so-called ‘sticky scale’ descaling unit.

    The sticky scale descaling hydraulic pump was still not fully understood at the time, so theoretically it could have led either to a low percentage of water descaling, or to high operating costs for its maintenance and excessive capital investment. With this in mind, MMK accepted Wepuko PAHNKE's offer to conduct tests at its plant. The tests involved the use of various types of jets, as well as changes to the insertion angles, water pressure and moving speed of the jet. As a result of these tests, a high percentage of water descaling was obtained, and the exact parameters of the ‘sticky scale’ descaling unit were determined.

    Based on the results of the tests, MMK signed a contract with Wepuko PAHNKE in April 2020 for the supply of two descaling hydraulic pumps. This approach to solving non-standard tasks will allow MMK to reduce the cost of purchasing new descaling hydraulic pumps by more than 30% and significantly improve the quality of its long products.

    Source : STRATEGIC RESEARCH INSTITUTE
  6. forum rang 10 voda 23 juli 2020 15:08
    JSPL Reports Q1 of 2020-21 Results

    Jindal Steel & Power Limited has posted a robust set of numbers during the quarter led by higher volumes as consolidated steel production increased by 4% to 2.03 million tonnes while sales were up by 8% YoY to 2.07 million tonnes. During the quarter JSPL clocked exports of 0.9 million tonnes.

    Source : STRATEGIC RESEARCH INSTITUTE
  7. forum rang 10 voda 23 juli 2020 15:09
    Live Ventures Acquires Precision Marshall

    Live Ventures Incorporated announced the acquisition of Precision Industries, Inc, which does business as Precision Marshall, for approximately USD 31.5 million in cash. The Washington Pennsylvania-based independent manufacturer of premium tool steels and specialty alloys was founded in 1948 and is a vital link in the nation’s manufacturing supply chain. The company uses machine applications to transform raw steel into tool-and-die steels needed in the auto, appliance, aerospace and defense industries.

    Thomas Sedlak, who joined Precision Marshall in 2008 and has most recently served as Senior Vice President, has been elevated to Chief Executive Officer. All current employees are expected to be retained through the acquisition.

    Precision Marshall was founded in the family garage in 1948 by Thomas R. Milhollan. Tom’s son Jack Milhollan joined the company in 1973, became president and CEO, and guided the company to diversify products, invest in new technologies, and expand its distribution network. The company sells precision steel and alloy products exclusively through independent distributors.

    Source : STRATEGIC RESEARCH INSTITUTE
  8. forum rang 10 voda 23 juli 2020 15:12
    BBVA & Acerinox Sign First Sustainable Loan in Steel Industry in Spain

    BBVA and Acerinox made history by closing the first sustainable transaction in the steel industry in Spain. The deal, a bilateral loan totaling EUR 80 million with a maturity of five years, is intended to partially finance the Acerinox acquisition of VDM Metals. Spain’s stainless steel industry makes its debut in sustainable finance with the agreement signed between BBVA and Acerinox, the first Spanish company in the industry to link its finance costs to its sustainable commitment. To this end, Acerinox converted an €80 million bilateral loan it had signed in March for the partial financing of the acquisition of VDM Metals. The purchase of this German-based company, a world leader in the production of special alloys, represents a great growth opportunity for Acerinox in new markets.

    The financing deal qualifies as sustainable because operating margin will be linked to the performance of two established indicators that will be revised annually: the relative intensity of direct and indirect emissions per ton of steel produced and the frequency of industrial accidents. The independent consulting firm, Sustainalytics, issued confirmation that the deal aligns with the 2019 Sustainability Linked Loan Principles, the framework on which these kind of transactions are based.

    Source : STRATEGIC RESEARCH INSTITUTE
  9. forum rang 10 voda 23 juli 2020 17:57
    Beursblik: winsthalvering ArcelorMittal in tweede kwartaal verwacht

    FONDS KOERS VERSCHIL VERSCHIL % BEURS
    ArcelorMittal
    10,096 0,244 2,48 % Euronext Amsterdam

    (ABM FN-Dow Jones) ArcelorMittal heeft waarschijnlijk een lastig tweede kwartaal achter de rug, waarin de winstgevendheid op kwartaalbasis vermoedelijk halveerde. Dit blijkt uit de analistenconsensus die het staalbedrijf donderdagmiddag publiceerde.

    Gemiddeld rekenen 19 analisten die bijdroegen aan de voorspelling voor het tweede kwartaal op een EBITDA van 482 miljoen dollar.

    Bij de cijfers over het eerste kwartaal zei ArcelorMittal voor het tweede kwartaal te mikken op een EBITDA tussen de 400 miljoen en 600 miljoen dollar.

    In het eerste kwartaal van 2020 bedroeg de EBITDA 967 miljoen dollar en in het tweede kwartaal van 2019 was dit nog 1.555 miljoen dollar.

    ArcelorMittal publiceert op 30 juli de kwartaalcijfers.

    Door: ABM Financial News.
    info@abmfn.nl
    Redactie: +31(0)20 26 28 999

    © Copyright ABM Financial News B.V. All rights reserved.
  10. forum rang 10 voda 23 juli 2020 17:58
    Staalproductie nog altijd flink lager

    Gepubliceerd op 23 juli 2020 17:42 | Views: 91

    ArcelorMittal 17:35
    10,10 +0,24 (+2,48%)

    BRUSSEL (AFN) - De wereldwijde staalproductie lag in juni nog altijd duidelijk lager dan een jaar eerder. Dat meldt de World Steel Association die wijst op productieproblemen door de coronauitbraak in veel landen.

    In totaal werd er vorige maand 148,3 megaton staal geproduceerd. Dat is 7 procent minder dan in dezelfde maand vorig jaar. De productie van China, met afstand de grootste staalmaker ter wereld, lag 4,5 procent hoger dan vorig jaar. India, waar het coronavirus nog totaal niet onder controle is, zag de productie met ruim een kwart dalen en in Japan werd ruim een derde minder staal gemaakt.

    Over de eerste zes maanden lag de mondiale productie met 873,1 megaton 6 procent lager dan de eerste helft van 2019. In Azië daalde de productie met 3 procent, in Europa met 18,2 procent en in Noord-Amerika met 17,6 procent.
  11. forum rang 10 voda 27 juli 2020 14:33
    Beursblik: winstdaling Aperam verwacht

    FONDS KOERS VERSCHIL VERSCHIL % BEURS
    Aperam
    24,90 0,15 0,61 % Euronext Amsterdam

    (ABM FN) Aperam heeft vermoedelijk de winst in het tweede kwartaal van 2020 op kwartaalbasis zien dalen. Dit blijkt uit een analistenconsensus die de fabrikant van roestvast staal zelf publiceerde.

    In totaal verwachten 13 vooraf geraadpleegde analisten een aangepaste EBITDA van 42 miljoen euro, tegen 70 miljoen euro een kwartaal eerder. De schattingen lopen daarbij uiteen tussen 37 miljoen en 49 miljoen euro.

    Bij de cijfers over het eerste kwartaal waarschuwde Aperam al voor een daling van de aangepaste EBITDA als gevolg van lagere volumes. Die volumes kunnen mogelijk met 25 procent terugvallen, zo stelde de fabrikant.

    Wel dacht Aperam dat het nog altijd een positieve vrije kasstroom zal genereren in het tweede kwartaal. De schuld zal iets oplopen. Eind maart was die 108 miljoen euro.

    Kepler Cheuvreux blijft voorzichtig over Aperam en waarschuwde eind juni voor de onderliggende vooruitzichten voor de staalsector.

    Outlook

    Voor heel 2020 mikken de analisten inmiddels op een EBITDA van 234 miljoen euro. Dat is lager dan de 243 miljoen euro waarop nog werd gerekend voor de cijfers over het eerste kwartaal.

    Aperam maakt de resultaten woensdag voorbeurs bekend.

    Het aandeel Aperam noteerde maandagmiddag 0,7 procent hoger op 24,92 euro.

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

    © Copyright ABM Financial News B.V. All rights reserved.
  12. forum rang 10 voda 27 juli 2020 14:35
    Tata Steel UK Floats Plan for Semi Nationalization

    Sky News has learnt that Tata Steel has presented proposals to Whitehall in recent weeks aimed at securing a state injection of close to GBP 1 billion into its UK operations. In return, the company's Indian parent would hand an equity stake of up to 50% to UK taxpayers, amounting to a semi nationalisation of Britain's largest steelmaker as it battles the impact of the coronavirus pandemic. A source close to Tata Steel said the proposal, which is just one of the options the company is examining, would involve its parent company writing off an equivalent quantity of debt owed to it by the UK business. The talks are at a tentative, rather than concrete, stage, and the structure of any deal, as well as the size of any financial contributions, remain far from being finalised.

    A spokesperson for Tata Steel Europe said: "We are in active discussions with the UK government on several options for the future of our UK operations, including potential co-operation and participation from the government to create a sustainable decarbonised footprint for the future. Given prevailing market conditions and disruption caused by the COVID-19 pandemic, it is clear that our UK operations face structural challenges that need to be urgently addressed. Discussions with the Government are constructive and ongoing, and at this stage no decisions have been made. It would therefore be inappropriate to comment on unsubstantiated speculation about the outcome of these discussions or the potential impact of any changes to secure our sustainable long-term future. If and when we do have progress to report, we will first inform our employees and consult with our employee representatives."

    The discussions between officials and the company form part of Project Birch, the existence of which was revealed by Sky News soon after the UK-wide lockdown sparked chaos for millions of companies in sectors including aviation, hospitality, manufacturing and retail. Since then, the bespoke financial support programme created by the government for companies of strategic national importance has extended only one loan of GBP 30 million to Celsa Steel, a Cardiff-based subsidiary of Spanish steelmaker Celsa which is a major supplier to the UK construction industry. Other steel producers, including British Steel, which is now owned by China's Jingye Group, have also sought financial help from the taxpayer since the beginning of the COVID-19 crisis.

    Source : STRATEGIC RESEARCH INSTITUTE
  13. forum rang 10 voda 27 juli 2020 14:36
    Indian Steel Export in June Surge by 100% - EEPC

    Economic Times reported that a report by Engineering Export Promotion Council of India revealed that export of iron and steel products from India witnessed a sharp rise of more than 100% in June. Iron and steel recorded more than 100% growth in exports during June 2020 with shipments of USD 1.32 billion against USD 653.5 million in the same month last year. During June, exports of iron and steel to China rose by over 1400% to USD 524 million from USD 35 million in the same month last year, to Vietnam it went up by over 700% to USD 183 million and to Taiwan, the increase was 200% to USD 35 million.

    A drop in domestic demand, disruption in supply chain and acute shortage of construction labour led several top steelmakers to export more than 50-60% of their sales volume during May-June period.

    Source : STRATEGIC RESEARCH INSTITUTE
  14. forum rang 10 voda 27 juli 2020 14:37
    Worker Union Reports 21 COVID19 Deaths at ArcelorMittal Plant in Mexico

    Reuters reported that 21 workers at a steel plant owned by ArcelorMittal in the Mexican port city of Lazaro Cardenas have died from COVID-19. National Mining And Metallurgical Workers Union Secretary General Mr Carlos Solorio told Reuters “21 deaths had occurred since April and that the workers likely contracted the virus outside the plant, given the strict sanitary protocols adopted by the firm. The dead include employees, contractors and suppliers to the plant. Everyone was working for the company. Nine of the deceased were union members.”

    ArcelorMittal has said it has made substantial donations to help tackle the virus in Lazaro Cardenas, a major port on the Pacific coast. The plant employs more than 7,000 people

    As of July 27, 2020 02:51 GMT, with over 390,516 confirmed cases and 43,680 deaths, Mexico has the world’s fourth-highest death toll from coronavirus. Lazaro Cardenas has registered 2,651 cases and 139 deaths to date.

    Source : STRATEGIC RESEARCH INSTITUTE
  15. forum rang 10 voda 27 juli 2020 14:49
    Municipality of Lazaro Cardenas Partially Shut Down ArcelorMittal Plant in Mexico

    Image Source: Arcelor Mittal Mexico

    Public officials from the municipality of Lazaro Cardenas in Michoacan state in Mexico forcefully entered ArcelorMittal's plant on Jul 23 causing a partial shutdown in operations. The city council accused the steel producer of failing to comply with property tax updates for the last six years and demanded a retroactive payment of MXN 130 million (USD 5.7 million) and that the company also lacks the proper operating licence and the correct internal civil protection programme. The city council ordered the partial closure of the company, taking care at all times not to impact production in those areas whose closure would create irrevocable damage to third parties. It remains unclear to what extent production will be affected, or when the plant will be released by authorities.

    ArcelorMittal rejected the city's claims and stressed its compliance with all property tax, labour and permitting requirements. It said “Public officials from the municipality of Lázaro Cárdenas, accompanied by the police, using force, entered our facilities without an act or order to carry out any closure. Regarding the statements by the city council, expressing that the company has not complied with the property tax updates for the last 6 years, for which they demand a retroactive payment in the amount of MXN 130 million, in addition to the monthly increase of the same tax, ArcelorMittal México, has complied, year after year, with the punctual payment of the corresponding property tax on a bimonthly basis, as the law allows, and has even paid in advance at the request of the city council. In the same way, the necessary permits have been requested from the municipality and it has complied with the required conditions, processes and obligations every time an installation and / or construction has been carried out within the perimeter of the company. It is worth mentioning that the company has provided substantial support in all events where civil protection has requested support with technical and emergency equipment. Since July 11 of this year, the 5th judge of the District of the State of Michoacán granted ArcelorMittal México a protection against any act of closure by the city council. As this closure was carried out, despite having a provisional suspension in the amparo, the municipal authorities who have ordered and carried out these acts fall into contempt for having violated the instructions of the district court and are affecting the guarantees of legal security, and also the general interest of society regarding the rule of law and said act of disobedience has serious consequences for public officials given the intimidating actions that these authorities have been taking against ArcelorMittal.”

    Source : STRATEGIC RESEARCH INSTITUTE
    Bijlage:
  16. forum rang 10 voda 27 juli 2020 14:50
    JSW Steel Update on Projects & CAPEX

    JSW Steel said that project execution at all locations is ramping up slowly as the workforce availability is gradually improving. The expansion of crude steel capacity at Dolvi works from 5 million tonnes per annum to 10 million tonnes per annum along with the Captive Power Plant and Coke Oven Phase 2 is likely to get commissioned in the second half of FY 2021. The 8 million tonnes per annum Pellet Plant and the Wire Rod Mill at Vijayanagar are expected to be commissioned in Q2 of FY2021. The CRM1 complex capacity expansion at Vijayanagar from 0.85 million tonnes per annum to 1.80 million tonnes per annum is expected to be commissioned progressively in Q2 and Q3 of FY 2021. The downstream modernisation cum-capacity enhancement projects at Vasind and Tarapur and the Colour coating line at Kalmeshwar are expected to be commissioned in the second half of FY 2021.

    During the quarter, the company spent about INR 2,369 crores for capex, against a total planned capex spend of INR 9,000 crores for FY2021.

    Source : STRATEGIC RESEARCH INSTITUTE
  17. forum rang 10 voda 27 juli 2020 14:51
    CarVal Consortium May Renegotiate Uttam Value & Uttam Galva Metallics Deal - Report

    Business Line recently reported that CarVal consortium may renegotiate its INR 2,300-crore bid to buy Uttam Value Steel Ltd and Uttam Galva Metallics under the Insolvency and Bankruptcy Code. CarVal’s bid was approved by the National Company Law Tribunal in March but the investor has now told the lenders of the stressed companies that the demand disruption in the steel sector due to the Covid-19 pandemic has affected the valuation significantly. Sources said that it is likely that the buyer will even invoke the force majeure clause. An official involved in the deal said “Post the approval of the deal by NCLT, representatives from the lenders’ side and the winning bidders had been taking the process ahead to implement the deal But the lockdown situation has delayed the transaction. Now, if the resolution process under the IBC fails, rebidding or liquidation may be the only options. In the current scenario, the assets may fetch lower recoveries.”

    The Mumbai Bench of the NCLT had approved the sale of the two Uttam companies to a consortium of CarVal and Nithia Capital Resources Advisors. Under the approved resolution plan for the Uttam firms, the lenders would receive nearly 40 per cent of their claim. Reportedly, the admitted claim of the financial creditors was INR 3,634 crore in Uttam Galva Metallics and INR 2,479 crore in Uttam Value Steel. Union Bank of India has the highest exposure in Uttam Galva Metallics at INR 921 crore, followed by Bank of Baroda at INR 680 crore and Punjab National Bank at INR 571 crore.

    Source : STRATEGIC RESEARCH INSTITUTE
  18. forum rang 10 voda 27 juli 2020 14:56
    Egypt Court Rules to Continue Tariffs on Billets & Rebar Imports

    Egyptian media reported that an Egyptian administrative court has rejected a petition submitted by the Chamber of Metallurgical Industries to cut import tariffs imposed on steel rebar and iron billets for three year. This is the second legal challenge mounted by small-scale rolling mills, which have threatened to shutter production, arguing that the Trade Ministry’s 25 percent duty on steel rebar and 16 percent tariff on iron billets hampers their competitiveness.

    The Supreme Administrative Court had previously rejected a bid to slash the duties in October 2019, overruling an administrative court that had accepted the chamber’s bid earlier that year.

    In 2019, the country’s ministry of trade and industry issued a decision to temporarily impose a new 16 percent fee on iron billets and 25 percent fees steel rebars. The Trade Ministry postponed in April cutting import tariffs imposed on steel rebar and iron billets for a six-month period.

    Source : STRATEGIC RESEARCH INSTITUTE
  19. forum rang 10 voda 27 juli 2020 14:56
    French Tribunal Rejects Jingye Bid for Hayange Rail Mill

    A tribunal in Strasbourg has rejected the bid made by the Chinese Jingye Group to buy British Steel's former Hayange rail mill located in northeast France, due to growing concerns about Chinese investments in Europe. The Chinese company had pledged to make an investment worth EUR 60 million over the next five years in the Hayange rail mill which produces metal tracks for railways without resorting to public funding. Jingye Group has acquired the UK's second-largest steelmaker British Steel’s assets in the UK and the Netherlands, but the acquisition does not include British Steel's French operations at Hayange. The acquisition of the Hayange mill is subject to negotiations with the relevant authorities in France.

    A parallel sale process for the Hayange site was opened last year amid misgivings in Paris over the future of a manufacturing facility it deems of national importance. As per media reports, Tribunal in Strasbourg accepted an offer from Liberty House, the privately owned industrial group led by UK businessman Sanjeev Gupta. The next step is for France’s finance ministry to approve the deal

    Other parties interested in the Hayange mill were ArcelorMittal, Saarstahl of Germany, Italian rail unit producer JSW Piombino and French special steel producer Ascoval through its holding company Greybull Capital

    Hayange produces 250,000-300,000 tonnes of rails a year, most of them for France's national state-owned railway company Société nationale des chemin de fer français.

    Source : STRATEGIC RESEARCH INSTITUTE
  20. forum rang 10 voda 27 juli 2020 14:57
    Ambica Steels Opens Bright Bar Unit in Ghaziabad

    Leading manufacturer of bright bars in India Ambica Steels Limited has established a new factory in Ghaziabad. This new factory is the Unit 4 and is located in Bulandshahr Road Industrial Area in Ghaziabad. The new unit of the company is having a total area of 49257 square feet. It consists of a gallery area of 8848 square feet, open area of 4814 square feet and office area of 2520 square feet. The new unit is well equipped with the latest technologically advanced machines. These machines include two short blasting machines, two printing machines, three draw bench machines, three section straightening machines, one abrasive cutting machine and one chamfering machine. The pickling area and ETP area of the new unit has a power of 65 HP.

    The new production unit is producing SS & Alloy Steel Flat Bars, Hex Square and Round Bars.

    Source : STRATEGIC RESEARCH INSTITUTE
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  1. 22 mei Mondiale staalproductie daalt opnieuw
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