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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

  • 24,080 21 mei 2024 17:35
  • -0,090 (-0,37%) Dagrange 23,970 - 24,170
  • 2.229.090 Gem. (3M) 2,5M

Nieuws en info hier plaatsen (deel 4)

35.173 Posts
Pagina: «« 1 ... 865 866 867 868 869 ... 1759 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 27 september 2018 15:05
    AlixPartners helps British Steel in raising asset backed financing

    Consultancy UK reported that in June 2016, Greybull Capital which purchased UK airline Monarch for GBP 1 in October 2014, before it collapsed three years later acquired the long products steel division of Tata Steel Europe, rebranding it British Steel. The deal was similarly completed for just GBP 1, and saved the company from collapse. At the time, no jobs were shed, with AlixPartners advising on raising a GBP 175 million asset-backed financing facility to provide the company with sufficient working capital. The consulting firm also provided general acquisition support advice.

    While British Steel remains a GBP 1.4 billion turnover operation, the UK-based steel manufacturer has continued to endure hard times since its 2016 revival. This recently resulted in the group confirming it would reduce its 5,000 strong workforce by 400 at its sites in the UK and elsewhere in Europe, blaming a weak pound and euro for driving up costs. As British Steel bids to secure its future with investment that can push a drive for growth, it has secured much needed asset-backed finance, with AlixPartners once again advising on the deal.

    The new senior secured facility sees GBP 90 million of asset-backed finances from White Oak Global Advisors boost British steel. The investment from the San Francisco-based credit fund is the first major FILO (“first-in, last-out”) facility in the European asset-backed debt markets. British Steel will now look to use those funds to kick on from the first phase of a successful turnaround programme, which has seen a rise in profitability increasing from a GBP 80 million run-rate EBITDA loss prior to Greybull’s acquisition, to an EBITDA profit of GBP 47 million in FY17A, the first financial year post-acquisition, and an adjusted EBITDA profit of GBP 68 million in FY18A.

    Mr Roland Junck, Executive Chairman of British Steel, commented that “We’re really pleased AlixPartners is continuing to support the rapid transformation of our business. British Steel is embarking on a period of unprecedented investment and this partnership will enable us to further grow our company.”

    Mr Jacco Brouwer, Head of Debt Advisory for AlixPartners in London, added that “We are delighted to have been able to advise British Steel on the raising of further financing facilities that will boost the company’s liquidity and position it for further growth through add-on acquisitions and expansion capital expenditure.”

    Source : Consultancy UK
  2. forum rang 10 voda 27 september 2018 15:06
    Johnny Sjostrom to be new head of SSAB Special Steels

    Johnny Sjöström has broad experience of the steel industry and of working internationally. In recent years he has been CEO at Uddeholm, where he amongst other things has renewed the production strategy and address leadership and digitalization. Johnny Sjöström has also worked for SSAB earlier in China, where he was responsible for market, technology and strategy development. Han was formerly CEO at Scana Leshan in China and has held various management positions at Outokumpu Stainless Oy.

    Mr Johnny Sjöström holds a PhD in Material Sciences from Karlstad University and an executive MBA from Stockholm School of Economics. He will take up the position by April 1 2019 and will have be a member of the Group Executive Committee. He succeeds Per Olof Stark, who will retire in 2019.

    Mr Martin Lindqvist, CEO and President of SSAB said that “We have set the bar high for the SSAB Special Steels division and I am convinced that with his backgrund and experience, Johnny is the right person to take the division forward and to contribute to the development of the SSAB Group as a whole.”

    Source : Strategic Research Institute
  3. forum rang 10 voda 27 september 2018 15:07
    Trump Trade War - Tariffs won’t be applied on LNG Canada

    The Globe and Mail is reporting that the Federal government has conceded that LNG Canada can’t source steel domestically for the LNG facility. LNG Canada requested an exemption from tariffs on the steel needed to build the facility. The tariffs could have added CAD 1 billion to construction costs. The Federal Court of Appeal, which is the same court that quashed Trans Mountain’s approval, is expected to issue a decision by the end of the month.

    The decision could clear the way for the project to be exempt from steel tariffs. The Globe and Mail say unnamed officials from the Prime Ministers office have told LNG Canada it agrees the project will need to be built from imported steel.

    Shell Canada and its partners are expected to make a final investment decision soon about the LNG facility that could cost CAD 36-billion near Kitimat.

    Source : The Globe and Mail
    Bijlage:
  4. forum rang 10 voda 27 september 2018 15:09
    Stalprofil reports strong results for H1 of 2018

    Stalprofil recorded PLN 12.98 million of consolidated net profit attributable to shareholders of the parent company in the first half of 2018 compared to PLN 7.16 million profit a year earlier. At the end of June, the group's order portfolio included approximately PLN 450 million on the market of insulated pipes (to be implemented within the next 12 months) and approx. PLN 200 million on the gas pipeline market. Stalprofil's operating profit in the first half of this year amounted to PLN 20.43 million, compared to PLN 13.32 million profit a year earlier. Consolidated sales revenues reached PLN 667.22 million in the first half of 2018 against PLN 609.72 million a year earlier.

    In the first half of 2018, the group sold a total of 107 thousand tonnes of steel products. The total volume of steel sales was higher by almost 4 percent. Every year. The results of the steel segment were also positively affected by the effects of the subsidiary KOLB, which in the first half of 2018 sold 1.514 thousand tons of steel structures, i.e. by 54 percent. more than a year earlier.

    The segment of infrastructure of gas transmission networks and other utilities generated a larger part of the group's revenues. This was mainly due to the contracts implemented for the benefit of OGP Gaz-System by the Izostal-Stalprofil consortium as part of the framework agreement concluded in 2015.

    The Group, striving to diversify customers, increases the supply of insulated pipes to the European market. As at June 30, 2018, it has a portfolio of orders for the supply of insulated pipes with a value of approximately PLN 450 million, the implementation of which falls within the next 12 months. About 80 percent of this are the orders of Gaz-System, while the remaining part are other recipients, both domestic and foreign.

    Source : Strategic Research Institute
  5. forum rang 10 voda 27 september 2018 15:11
    Kim Chaek Iron and Steel Complex completed Juche-Oriented Iron-making Production Process

    KCNA Watch reported that at a significant time when the 70th founding anniversary of the DPRK was celebrated as a grand festival of victors the Kim Chaek Iron and Steel Complex has succeeded in establishing the Juche-oriented iron-making processes based on indigenous technology and locally available fuel and materials 100 per cent, thus instilling great joy and confidence into all the people of the country. The Workers' Party of Korea mapped out a gigantic plan for realizing the historic cause of establishing the system of Juche-based iron production true to the noble intention of President Kim Il Sung and Chairman Kim Jong Il and set forth a militant task for completing the Juche-based project at the Kim Chaek Iron and Steel Complex.

    The working class of the Kim Chaek Iron and Steel Complex, the Chongjin Metal Construction Complex and the Equipment Assembly Complex and members of the February 17 Shock Brigade of Scientists and Technicians made energetic efforts to implement the idea of the Party and uphold Party policies and thus victoriously finished the huge project for more than 500 days.

    The working class of the Kim Chaek Iron and Steel Complex successfully built an oxygen heat blast furnace and a fluidized-bed gas generator, restored oxygen separators to their original state and put the operation of furnaces on a normal basis, thus producing a large amount of iron and steel.

    The working class of the Chongjin Metal Construction Complex and the Equipment Assembly Complex finished the project of installing an oxygen separator of 15 000?/h, the key to the Juche-based iron production, in a bold and big way, ahead of schedule and fulfilled difficult tasks and thus fully demonstrated the might of the main force which has displayed their reputation in metal construction and assembling of custom-built equipment.

    Thanks to the campaign of brains and the drive of breaking through the cutting edge of the experts of Kim Chaek University of Technology, Chongjin University of Mining and Metallurgy, State Academy of Sciences and various other units, a new ground of an iron-making method without use of cokes was hewed out and a firm technological guarantee for increased iron production provided.

    An inaugural ceremony was held on Sept. 25.

    Source : KCNA
  6. forum rang 10 voda 27 september 2018 15:13
    Metinvest announces financial results for H1 of 2018

    Metinvest BV announced its unaudited IFRS interim condensed consolidated financial statements for the six months ended 30 June 2018. Commenting on the results, Mr Yuriy Ryzhenkov, Chief Executive Officer of Metinvest, said that “In the first half of 2018, Metinvest delivered strong operational and financial results, as our clear strategic vision helped to navigate the volatile environment and set the basis for sustainable growth. Hot metal production surged by 14% year-on-year to 4,292 thousand tonnes. Given the bottleneck in steel casting capacity at Ilyich Steel, this translated into a more moderate rise in crude steel output, of 4% year-on-year to 3,794 thousand tonnes, and a greater increase in pig iron production. We remain focused on delivering organic growth from the existing assets and boosting the share of high value-added products. A new continuous casting machine at Ilyich Steel, due for completion by the year-end, will make it possible to use additional hot metal to improve crude steel and finished product volumes. Metinvest’s performance was buoyed by rising global steel prices amid strong demand in all regions, as well as a spike in premiums for both Fe content and pellets, despite a drop in the 62% Fe iron ore benchmark. While global protectionism remains a concern amid trade disputes between the US, Europe and China, we are confident of being able to mitigate any negative impact on our business. Revenues surged by 58% year-on-year to US$6,179 million amid higher prices, a greater share of in-house product volumes and higher resales. Sales in Ukraine soared by 80% year-on-year, driven by recovering demand as the economy continued to grow for the 10th consecutive quarter. Ukraine’s GDP rose by 3.1% year-on-year in the first quarter of 2018 and an even stronger 3.8% year-on-year in the second quarter.”

    Voor cijfers, zie pdf

    OPERATIONAL HIGHLIGHTS
    In July, after the reporting date, Metinvest secured long-term coal supplies in Ukraine by acquiring, with four other co-investors, stakes of up to 100% in some coking coal assets, the most significant being Pokrovske Colliery and Svyato-Varvarinskaya Enrichment Plant, which form the largest coking coal extraction and production business in the country. The Group’s effective interest in the newly acquired business equals 24.99%, for which the total consideration was around USD 190 million. In addition, Metinvest obtained an option to purchase the remaining 75.01% from the other co-investors pursuant to certain conditions including governmental consents. Over the first half of the year, the Group launched 20 new steel products, mainly heavy plates and coils (hot and cold-rolled) used in construction, machine-building and pipe production, as well as further steel downstream.

    In April, the first-phase facility of the sinter plant gas cleaning system was launched at Ilyich Steel.

    Source : Strategic Research Institute
    Bijlage:
  7. forum rang 10 voda 27 september 2018 15:16
    Boston Metal new technology to eliminate 1.7 billion tonnes of CO2 per year

    Next Big Future reported that Boston Metal has developed technology to electrify steelmaking and this could reduce CO2 emissions by 5%. They would use an electrolytic cell instead of a blast furnace. It would use electricity rather than carbon to process raw iron ore.

    In steelmaking, iron oxide is placed into a blast furnace with coke, a hard, porous substance derived from coal. Under high temperatures, the coke turns into carbon monoxide, which plucks oxygen off the iron, producing an intermediate metal known as “pig iron”along with carbon dioxide that wafts into the atmosphere. This and other steps in the process pump around 1.7 gigatons of carbon dioxide into the atmosphere annually, adding up to around 5 percent of global carbon dioxide emission.

    Source : Next Big Future
  8. forum rang 10 voda 27 september 2018 15:17
    Anhui Honglu Steel win order to construct Party School of the Communist Party of China

    In June of this year, Anhui Honglu Steel Structure (Group) Co Ltd and China Power Sub-Engineering Design Institute Co Ltd, the consortium pre wins the bid of "The Party School of the Communist Party of China New Campus Construction Project (Design and Construction General Contracting). The company released the "Pre-winning bid for the company" on June 22, 2018. Recently, the company received the design of the "Yangyang County Party School New School District Construction Project" by the Party School of the Communist Party of China. The contract is temporarily estimated at CNY 170 million.

    Project Name: Construction Project of the New Campus of the Party School of the CPC Yangyang County Committee (Design and Construction General Contracting)

    Project Location: Fuyang

    Project Amount: The contract is tentatively valued at RMB 170,000,000.00 (capital) for RMB 100 million

    Project Overview: Comprehensive office building, teaching building, seminar building, student dormitory, etc., with a total construction area of approximately 26,063 square meters

    The underground parking lot covers an area of 12,745 square meters, and the outdoor road plaza (including the playground) is about 30,000 square meters.

    Source : Strategic Research Institute
  9. forum rang 10 voda 27 september 2018 15:24
    Kogi Iron test work program supports steel producing future

    Kogi Iron Ltd has completed a test work program confirming a processing flowsheet for the production of cast steel from its Agbaja iron ore project in Nigeria. This is a major milestone for Kogi as this flowsheet and test work are critical parts of its engineering and definitive feasibility study. The pilot smelting test work successfully demonstrated that it is feasible to process beneficiated Agbaja iron ore in an electric arc furnace to produce a cast steel product.

    Kogi aims to become a producer of cast steel products by developing its 100% owned Agbaja Project in the Kogi State within the Republic of Nigeria.

    Nigeria has substantial domestic demand for steel production, which is largely met through imports.

    The Agbaja project opens the opportunity for domestic production of steel billets.

    Mintek was contracted to perform smelting and refining test work on a pilot scale.

    The primary objectives of the test work were:

    1. Demonstrate the technical feasibility of smelting beneficiated Agbaja iron ore in a pilot scale electric arc furnace to produce a crude pig iron;

    2. Generate enough process information to assist with design and construction of the process on a commercial scale;

    3. Demonstrate refining of the pig iron to produce a cast steel suitable for billet steel making; and

    4. Generate 50 kilograms of ‘on-spec’ cast steel for marketing purposes.

    Source : Proactive Investors
  10. forum rang 10 voda 27 september 2018 18:03
    Thyssenkrupp wil bedrijf opsplitsen

    (ABM FN-Dow Jones) Thyssenkrupp is van plan het bedrijf op te splitsen in twee separate beursgenoteerde bedrijven. Dit meldde de Duitse industriële groep donderdagmiddag.

    Het uitvoerende bestuur van de groep zal daartoe een voorstel doen bij de raad van commissarissen tijdens een bijzondere vergadering op zondag 30 september 2018.

    De industriële divisies, zoals de liftentak en de toeleveringen aan de autosector, zullen worden ondergebracht in Thyssenkrupp Industrials, terwijl de resterende bedrijfseenheden, de staal en aanverwante activiteiten, in Thyssenkrupp Materials zullen worden gecombineerd.

    Na afronding van de splitsing zullen bestaande aandeelhouders in beide bedrijven een belang houden, die van een vergelijkbare omvang zullen zijn, zei Thyssenkrupp.

    Het aandeel Thyssenkrupp noteerde donderdagmiddag circa 10 procent hoger.

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

    © Copyright ABM Financial News B.V. All rights reserved.
  11. forum rang 10 voda 28 september 2018 15:49
    Stronger and lighter steel behind Polish container manufacturer JK switch to SSAB

    ZPUH JK Milosz Kiedrowski, a container manufacturer located in northern Poland, started in 2001 to closely cooperate with the Swedish company ILAB Container AB, thus accessing the Scandinavian market. In 2008, JK launched the production of light containers made from high-strength steel. From the very beginning, it was clear to the management of JK that the steel they used must be produced by SSAB due to its superior quality and because a majority of Scandinavian customers expected containers made from SSAB steel. The initial challenges for ILAB and JK included understanding the new material and learning how to take advantage of its benefits. From the start, SSAB specialists provided excellent support and assistance.

    JK purchased state-of-the-art machines for cutting and bending, as well as new welding trucks. Some of the trucks are semi-automated. The purchase of the machinery was partly funded from the EU budget.

    The new containers are lighter and stronger than the other makes and can take up to one tonne more per load. Along with their more streamlined shape, they offer fuel savings during transportation of around 14%. Thus the profits are both environmental and financial. Sales in Scandinavia have since risen, and today they remain at a steady and high level.

    Since taking over control of the company, CEO and owner Milosz Kiedrowski has managed well; production has risen from 11,000 containers in 2015 to 15,500 in 2017.

    Ninety per cent of all containers produced by JK for the Scandinavian market are light containers made from SSAB high-strength steel. The main steel grades that JK buys from SSAB are Strenx™ 700 CR, Strenx™ 700 MC, Hardox® 400 and Hardox® 450. The Polish company is also a member of the two SSAB customer programs: Hardox® In My Body and My Inner Strenx™.

    Source : Strategic Research Institute
  12. forum rang 10 voda 28 september 2018 15:49
    Masteel first RC mill worldwide upgraded to Hyper UC mill by Primetals

    In August, the first coil was produced on a reverse cold mill modernized by Primetals Technologies at the cold rolling plant of Chinese steel producer Magang (Group) Holding Co (Masteel). The mill at the Maanshan production site represents the first upgrade to a Hyper Universal Crown (UC)-mill worldwide and was officially inaugurated later that month. Hyper UC-mills employ smaller diameterwork rolls, thus reducing rolling loads. This allows for the production of harder and thinner materials with improved product quality. In addition, the mill concept saves investment and maintenance costs. The upgrade enables Masteel to meet the growing demand for electrical steels spurred by increasing requirements for end uses in e.g. vehicle electrification. Primetals Technologies had received the order to revamp the RCM in April 2017.

    Masteel is a large-sized iron and steel complex in China ?s Anhui Province which was founded in 1958. The company ?s production amounted to 19.7 million tons (2017). Their iron and steel business is mainly engaged in ferrous metal smelting, rolling and processing as well as product sale and support services. Masteel owns top production lines for thin strip cold-rolling and thin strip hot-rolling, strip hot-galvanizing, strip color coating, silicon steel, H-beam, high-quality wire and rod, train wheel, etc.

    Primetals Technologies ? main scope of supply for the RCM upgrade included the project block, mill rolls, roll chocks, drive spindle and drive gear box. In addition, Primetals Technologies was responsible for the supervision of erection and commissioning. The upgraded mill processes silicon steel grades with product thicknesses between 0.3 and 0.65 millimeters in a width range of 900 to 1,280 millimeters.

    The Hyper UC-mill was recently developed by Primetals Technologies to achieve high performances of strip gauge and flatness control for High Strength Steel (HSS) rolling. This technology is also applicable for rolling high grades of non-grain oriented silicon steel and thin products. The technology is based on an optimized roll diameter combination (small work, intermediate and back-up rolls), a “work roll driven
    system” to achieve high flatness controllability, and the development of a high strength small diameter spindle to drive the work roll.

    Source : Strategic Research Institute
  13. forum rang 10 voda 28 september 2018 15:50
    Delong CEO makes cash offer of USD 7 per share to take steel maker private

    Straits Times quoted Delong Holdings chief executive and executive chairman Mr Ding Liguo said that they will launch a privatisation bid for the mainboard-listed Chinese steel maker in a voluntary conditional cash offer of USD 7 per share. Bid vehicle Best Grace Holdings is making the offer for all the shares that the offer or, its related corporations and their nominees do not already hold, with no intention of revising the offer price or any other terms of the offer. Mr Ding and his wife Zhao Jing are deemed interested in 75.56 per cent of Delong, with the offer possibly to be funded by bank facilities extended by Deutsche Bank, according to the Singapore Exchange filing released through PrimePartners Corporate Finance. The announcement added that the offeror intends to delist the company and turn it into a wholly owned subsidiary, but plans to continue with the company's business.

    It said that "Shareholders will have an opportunity to realise their investment in the offeree for a cash consideration at a premium above the historical market share prices, without incurring any brokerage and other trading costs, noting that the average daily trading volume of Delong shares has been low.”

    The offer price marks a 76.9 per cent premium over the stock's 12-month volume-weighted average price, and a 1.9 per cent premium over its last transacted price of USD 6.87 a share on the day before the announcement.

    Source : Straits Times
  14. forum rang 10 voda 28 september 2018 16:42
    thyssenkrupp plans to split the group into two independent, listed companies

    At an extraordinary meeting on Sunday, September 30, 2018, the Executive Board of thyssenkrupp AG will propose to the Supervisory Board that the Group be split into two much more focused and efficient companies. The capital goods and materials businesses shall be managed in future as independent, listed companies with direct access to the capital markets. The Management Board is convinced that this new structure will allow the businesses to develop better and concentrate on their strengths. Both companies will continue to use the name thyssenkrupp. Guido Kerkhoff, Chairman of the Management Board of thyssenkrupp AG, said "In recent weeks, a wide variety of strategic options for thyssenkrupp have been discussed in public and very often exaggerated. But the world is not black and white. There is not only 'Continue like this' and destruction, but always alternatives that take into account the responsibility both for our employees and for the future viability of the company. That's exactly what we were looking for as management board - without fear and dreaming. We are now proposing a solution that not only creates value for our shareholders, but also significantly improves the development prospects of our businesses".

    The separation into two companies will take the form of a spin-off. After the split, thyssenkrupp AG shareholders will hold two shares: one of the future thyssenkrupp Materials AG (formerly thyssenkrupp AG) and one of the new thyssenkrupp Industrials AG. Existing stockholders will continue to hold 100 percent of thyssenkrupp Materials AG and initially a clear majority of thyssenkrupp Industrials AG. The remaining stake will initially be held by thyssenkrupp Materials AG. This will ensure an adequate capital base of thyssenkrupp Materials AG. Liabilities and pension obligations are allocated adequately to both companies. This shall provide both entities with a better capital base, giving them a good start.

    Two entities with a clear profile and clear focus

    The separation into two independent companies combines industrial logic with the requirements of the capital market and is economically viable - in the interests of customers, employees and the region:

    thyssenkrupp Industrials will consist of three units: firstly the elevator business, secondly the automotive supplier business and thirdly core plant construction. The elevators remain unchanged in their current configuration. Components Technology will focus on the automotive business. The slewing (Bearings) and the forging business (Forged Technologies) will be spun off from the division. A new addition is the System Engineering division, which builds production lines for cars, for example, and is currently part of Industrial Solutions. We are thus bundling the automotive expertise. The third pillar of our industrial business will in future be the focused core plant construction. thyssenkrupp Industrials will therefore be a pure capital goods business.

    The other part - thyssenkrupp Materials - will consist of the following units: Materials Services, the 50 percent interest in the future steel joint venture, the slewing bearings and forging businesses as well as the marine business. The result is a materials group that combines steel and stainless steel production, materials trading and steel-related processing, that has a leading market position in Europe and can also take advantage of consolidation opportunities from a position of strength.

    The two companies will be of comparable size: Based on pro forma figures for fiscal 2016/17, thyssenkrupp Industrials AG would generate sales of around €16 billion with around 90,000 employees. thyssenkrupp Materials AG would have sales of around €18 billion with just under 40,000 employees.

    Upon approval by the Supervisory Board the exact structure of the separation, such as the transaction structure, the financing concept and the management models of both companies, will be worked out in a diligent process. The separation must then be decided by the Annual Stockholders' Meeting of thyssenkrupp AG. This could take place in 12 to 18 months.

    Both companies to have direct access to the capital market

    A separate listing on the stock exchange reduces the complexity of thyssenkrupp stock. In the future, investors with different approaches can be addressed: Investors who focus on industrial goods are interested in stable cash flows and attractive growth prospects. The materials businesses, on the other hand, are of interest to investors who are more interested in cyclical business and consolidation. Both companies will thus become more attractive for investors.

    Regardless of the intended separation, thyssenkrupp will continue to work continuously to improve the performance of all its businesses. The growth and profitability targets set for the individual business areas at the beginning of August 2018 remain valid and are to be achieved by the end of the 2020/21 fiscal year. thyssenkrupp is also adhering to the already known savings target for corporate administrative costs.

    Source : Strategic Research Institute
  15. forum rang 10 voda 28 september 2018 16:44
    Numetal to match ArcelorMittal's bid for Essar Steel - Mr Rohatgi

    Business Standard reported that a VTB Capital-led consortium has offered to match ArcelorMittal’s INR 420-billion (USD 5.8 billion) bid for Essar Steel India, heating up the long drawn battle for the biggest steel mill being sold under the bankruptcy law. Mukul Rohatgi, the lawyer representing the company, told the Supreme Court on Thursday that Numetal, the consortium led by VTB, is willing to revise its earlier bid of INR 370 billion for the 10 million tonnes a year steel manufacturing unit.

    At the same time, rival bidder ArcelorMittal must pay the Rs 70 billion its group companies owe to creditors to stay in the race, he said.

    The court is yet to take a decision.

    Source : Business Standard
  16. forum rang 10 voda 28 september 2018 16:44
    Steel ministry to facilitate JV talks between foreign steel technology suppliers

    Economic Times reported that global steel plant equipment makers, including Primetals Technologies, Nippon Steel, Paul Wurth, Danieli Corns and Thyssenkrupp, are expected to hold negotiations next month with domestic firms such as Bharat Heavy Electricals Ltd, HEC, Jindal Steel & Power Ltd and Larsen & Toubro to set up manufacturing facilities in India to tap USD 28-billion opportunities in the next 10-12 years. The steel ministry is facilitating talks between foreign suppliers with Indian manufacturers to float joint ventures in India. The move is aimed at enhancing domestic capacity in capital goods manufacturing for the steel sector and promote the Make in India’ initiative, a senior government official said. The ministry will also assist talks between the capital goods firms and steel makers to ensure adequate order flows to the proposed joint ventures.

    The report quoted the official said “The ministry is organising a conference on October 23 in Bhubaneswar to facilitate domestic capital goods manufacturing in India. Senior executives of global companies are likely to attend the conference to hold discussions with Indian equipment makers like BHEL, L&T and HEC. Steel companies including state run Steel Authority of India and RINL will also be present to engage in talks for equipment orders. The conference aims to bring together foreign technology, Indian manufacturers and buyers to encourage the manufacture of equipment in India.”

    He said the government proposes to utilise emerging opportunities to transform India into a global manufacturing hub for steel plant equipment.

    The foreign suppliers will be invited to have JVs with Indian manufacturers and set up manufacturing facilities here to serve as a base to cater to domestic as well as overseas.

    Source : Economic Times
  17. forum rang 10 voda 28 september 2018 16:45
    Trump Trade War - US says no to unconditional withdrawal of penal tariff on India

    Business Line reported that ignoring India’s threat of retaliation, the US has formally said no to an unconditional rollback of penal duties on Indian steel and aluminium imports and that it is now insisting that India come up with a counter proposal to resolve the matter. An official close to the development told Business Line. “The visiting officials said that following discussions in Washington it was decided a blanket exemption from higher duties on aluminium and steel cannot be extended to India. If India wants to resolve the matter, it has to come up with a counter proposal of capping its exports of the metals.”

    The official said “The problem is not with the Commerce Ministry, which has shown flexibility in its attempt to resolve the matter. It is the Steel Ministry which has been sticking to its initial demand of an unconditional rollback. The ministry may now have to soften its stance.”

    A team led by Assistant US Trade Representative Mark Linscott held talks on various issues with Commerce Ministry officials here earlier this week. Though Washington had been indicating it was not in favour of giving exemptions, New Delhi had been pushing for a complete unconditional rollback.

    Source : Business Line
  18. forum rang 10 voda 28 september 2018 16:47
    voestalpine successfully finishes repairs to the large blast furnace at the site in Linz

    Completing the general renovation of Blast Furnace A has brought the voestalpine Steel Division a further step towards increasing energy and resource efficiency at its steel production site in Linz. After a 111-day period for repairs, the furnace, in which two-thirds of the entire annual pig iron volume of five million tons is produced, today successfully restarted operations. At a total cost of around EUR 180 million, the so-called relining project involved completely replacing the extremely wear-resistant interior lining of the blast furnace, as well as modernizing all other facilities used in operating the blast furnace. At around the same time, interim repairs were carried out on one of the two blast furnaces in Leoben-Donawitz.

    The comprehensive upgrades to Blast Furnace A are important in safeguarding the future of the site in Linz, and that of its about 11,000 employees, for the coming decade. At the same time, the high technical standard of this blast furnace is also the basis for supplying our processing sites with high-quality steel grades.

    While modernizing Blast Furnace A we upgraded all the process steps to the state-of-the-art in order to achieve even better results in terms of resource conservation and material consumption. We are doing this by using completely new digital capabilities as well.

    The applied technologies include 3D radar to determine the optimum distribution of raw materials and automated temperature measurements within the blast furnace. Around 160 employees in the core voestalpine team worked to prepare and realize this major project, while at the same time a total of 1,000 people were employed at the site for over a year. Special simulation software which mapped all the plant and equipment as well as process scenarios was used to plan the relining. In future this tool will also be used during ongoing operations at the blast furnace.

    Parallel to the major project in Linz, one of the two blast furnaces belonging to the Metal Engineering Division in Leoben-Donawitz also underwent interim repairs. After 64 workdays, the furnace, which is responsible for around half of the 1.5 million tons of annual pig iron production at the Styrian site, returned to normal operations this week. The costs for the repairs, which are routinely undertaken on each of the two furnaces at the site once every four years, amounted this time to the comparatively low sum of EUR 14 million.

    Source : Strategic Research Institute
  19. forum rang 10 voda 28 september 2018 16:47
    thyssenkrupp exceeds its integration targets

    In the past three years thyssenkrupp has created 150 additional apprenticeship places and more than 400 internships for refugees, exceeding the high targets it had set itself. As a founding member of the “Wir zusammen (we together)” integration initiative launched by German industry in 2015 thyssenkrupp committed to provide 230 internships. Oliver Burkhard, CHRO and Labor Director of thyssenkrupp AG, said “We believe it is important to offer refugees a perspective for the future rather than keeping them dependent and out of work. That’s a joint task, and work plays an important part in it. The diversity of our new colleagues, their experience and their skills are a valuable addition to our company. The first apprentices have now completed their training and have been given permanent contracts at thyssenkrupp.

    Initiative manager Marlies Peine emphasizes: “We can put these figures in context. thyssenkrupp is making an outstanding contribution to the integration of refugees.”

    The aim of our “we.help” project is to help all apprentices complete their training successfully and give all interns a good insight into working life. 55 of the internships serve to provide introductory training, while “we.help” also offers tailored German tuition, a mentoring program, intensive support by and targeted training for the trainers at thyssenkrupp. “The great personal commitment of the trainers is key to the success of we.help,” says project manager Dr. Sabrina Munsch.

    Source : Strategic Research Institute
  20. forum rang 10 voda 28 september 2018 16:55
    Trump Trade War - Malaysia to impose anti-dumping duty on steel

    Nikkei reported that Malaysia will impose anti-dumping duties on steel roducts to protect local manufacturers if the Southeast Asian country emerges as transhipment point amid an on-going trade war between the US and China. Malaysia’s deputy minister for international trade and industry Ong Kian Ming said “If there are transhipment activities, then there will be anti-dumping measures enacted against this. My ministry is monitoring this and working closely with industry players on this.
    We are aware of the possibility of some countries using Malaysia as transhipment point amid the trade dispute. This will have detrimental effect on Malaysia."

    Transhipment refers to diverting cargoes to different ports before shipping to the final destination, often in order to dodge tariff.

    Source : Nikkei
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