DeBeurs.nl

voda 30 augustus 2019 15:29

0

Winnipeg Steel plant Closing in September

Global News reported that a long time Winnipeg steel construction plant will close its doors next month. Supreme Steel located on Jarvis Avenue, will be shutting down September 30 as part of a nationwide restructuring by its parent company, Supreme Group. Roughly 50 employees are expected to be affected by the closure of the 40,000 square foot facility, which produced steel used in the expansion of the Convention Centre, as well as the construction of the city’s IKEA store.

In a release, Supreme Group said it’s also shuttering a plant in Delta, BC in 2020 citing ongoing tariff uncertainty and an economic downturn as reasons for the closures.

Source : Global News

voda 30 augustus 2019 15:30

0

Steel & Tube Fine for False Steel Mesh

Stuff reported that Steel & Tube has had its manifestly inadequate" NZD 1.9 million fine for false claims about its earthquake-grade steel mesh increased to just over NZD 2 million by the High Court. The Commerce Commission appealed the previous fine for being too low. Steel & Tube pleaded guilty last year to 24 representative charges under the Fair Trading Act for making false representations about its steel mesh known as SE62 and passed it off as 500E. The higher 500E steel mesh standard was brought in by the government after the Canterbury earthquakes. It allowed more movement of buildings so foundations do not crack.

Last year Auckland District Court Judge Warren Cathcart fined the company NZD 1.885 million and said its culpability was "grossly negligent The technical manager was not properly supervised. Steel & Tube cannot be permitted to wash their hands of taking responsibility for that negligent oversight … it was Steel & Tube's responsibility to have proper systems in place to ensure compliance with the standard."

The charges related to conduct between March 1, 2012 and April 5, 2016. They covered 482 batches and about 480,000 sheets of steel mesh, which Steel & Tube sold for about NZD 24 million.

Source : Stuff Co

voda 30 augustus 2019 15:31

0

Controversy Trails Delta Steel Company Assets Disposal

Sahara Reporters reported that mixed reactions have continued to trail vandalization, stripping and sales of assets belonging to the defunct Delta Steel Company in Ovwian-Aladja communities of Udu local government area of Delta State, by the new management of Premium Steel and Mines Limited. It was gathered that various assets in the steel complex and housing estates were being sold to the public while used vehicles and heavy-duty machines were scrapped for sale by the new management of Premium Steel and Mines Limited.

Reacting to development, President of Udu Youth Progressive Union, Freedom Ovwemejepha, said that "There's no gainsaying the fact that the whole essence of privatizing DSC as with other privatized erstwhile government establishments was to reinvent the wheel by making it work again and perhaps even better than when it was operated under government's control and ownership.That was our expectations as the host communities. We envisaged a scenario where our restive youths will once again be gainfully employed in a steel complex that will not only be functional but operating at full capacity to meet the competitive demands of its products. Rather than revamp the steel complex. The company embarked on large scale assets stripping exercise against the spirit of the transaction. This malpractice continued unabated until Assets Management Corporation of Nigeria took over DSC and sold it to the present owners."

He added that "Even though the host communities were never consulted, we expected that the present owners should, in line with international best practices, engaged the host communities in order to achieve our mutual expectations. However, what we are experiencing presently is absolutely unacceptable to any civilized community. We have clear proof that the present owners are engaging in serious malpractices which include but are not limited to assets stripping, cannibalizing the pieces of machinery."

Source : Sahara Reporters

voda 30 augustus 2019 15:32

0

Ukrainian Oligarchs Laundered Cash through Ohio Steel Plant – Suit

Bloomberg reported that two Ukrainian oligarchs were hit with a lawsuit claiming they stole USD 30 million from an investor, laundered hundreds of millions through an Ohio steel company, and stripped it for parts. The suit targets Igor Kolomoisky and Gennadiy Bogolyubov, two politically connected Ukrainian billionaires who ran PrivatBank before it was nationalized. It also names PrivatBank, two alleged co-conspirators, and a dozen related business entities linked to Kolomoisky and Bogolyubov.

The case was filed in the Delaware Chancery Court by Vadim M Shulman, the investor who says he was bilked.

Source : Bloomberg

voda 30 augustus 2019 17:13

0

Lawsuit Filed against US Steel Hopes to Extend HibTac Mine Life - Report

kbjr6.com reported that a lawsuit has been filed against US Steel over a piece of land the company controls that could extend the declining lifespan of Hibbing Taconite. The lawsuit aims to break up a series of mineral leases that could extend HibTac’s life for more than a decade.

Glacier Park Iron Ore Properties filed the suit against US Steel in Hibbing on Monday saying the steel company illegally obtained a long-term mineral lease from the former Great Northern Iron Ore Properties Trust in 2010.

Mesabi Daily News reports the land in question would provide about 500 million tons of resources and seven to 12 years of mining for Hibbing Taconite.

Source : kbjr6.com

voda 2 september 2019 16:42

0

Liberty Steel To Invest In Steelworks Acquired From ArcelorMittal

Liberty Steel General Manager Jon Bolton said that over the next five years, Liberty Steel plans to invest over 400 million euros in the seven steelworks it has acquired from ArcelorMittal, in order to maintain its capabilities, expand its product range and realize more high quality products. Bolton stressed that almost half of these investments will be made at the Galati compound, because the growth prospects in Romania are better than in other parts of Europe. The decision of Liberty Steel comes at a time when the steel industry is facing the challenges created by the additional tariffs introduced by the US, tariffs that reorient to Europe the exports of other big producers, to which the higher costs with raw materials and energy are added.

Mr Bolton said that "We are continually evaluating how international trade conditions affect our operations, but we believe that our operations in mainland Europe are well positioned to deal with any negative impact. We expect the key markets for the operations we have recently acquired in Europe. to record performances above the European average, for example Romania will increase by 3.1%.”

In July this year, Liberty Steel paid 740 million euros to take over a number of hotels in the Czech Republic, Romania, North Macedonia, Italy and Belgium from the ArcelorMittal group. Currently, Liberty Steel, part of the GFG Alliance group owned by billionaire Sanjeev Gupta, has reached about 30,000 employees.

Source : Strategic Research Institute

voda 2 september 2019 16:57

0

Rising Raw Material Costs Hit Chinese Steel Makers Profits

Xinhua reported that Chinese steel plants reported shrinking profits in the first seven months of this year as rising raw material prices hit. Member enterprises of the China Iron and Steel Association raked in 2.43 trillion yuan (about 339 billion US dollars) in sales revenue during this period, up 9.75%, while profits fell by 23.93% YoY to stand at 123.582 billion yuan.

Industrial giant Baoshan Iron & Steel saw its net profit down over 38% YoY in the first half of this year.

The CISA attributed the dropping profits to rising raw materials prices.

Purchase costs of domestic iron ores rose 19.88% YoY during this period, while that for imports climbed 29.13%.

Source : Xinhua

voda 2 september 2019 18:44

0

NMDC Nagarnar Steel Plant to Be Operational By Q3 - CMD

Mr N Baijendra Kumar, CMD NMDC, while addressing company’s shareholders during 61st Annual General Meeting at Hyderabad said that the progress of construction of the company’s steel plant in Chhattisgarh is noticeable and various packages are at construction completion stage. This 3 million tonne capacity integrated steel plant is expected to be operational by third quarter of FY’2020-21. He said “The progress of construction of the steel plant during the year 2018-19 is noticeable and various packages are at construction completion stage. Cold trial of individual equipment’s under various packages is in progress. The steel plant is scheduled to be commissioned in three phases and is expected to be operational by third quarter of FY 2020-21. Operational power supply line is already energized and power was made available to various units of steel plant. Rail connectivity to the plant premises for initial traffic movement of material is in place.”

He added “At present, overall site progress of civil works, structural erection and equipment erection are respectively at 95%, 92% and 78%.”

Source : Strategic Research Institute

voda 2 september 2019 18:48

0

Taiwan Extends AD Tariffs on Chinese & Korean Steel Firms

CNA reported that Taiwan has extended anti-dumping tariffs on steel makers from China and South Korea for another five years after an investigation found firms from those countries have sold their products at unfairly low prices in the Taiwan market, causing material damage to their Taiwanese counterparts. In an announcement posted by the Customs Administration of the Ministry of Finance, the punitive financial burden has been extended from Aug 29, 2019 to Aug 28 2024 against Chinese and South Korean exporters of certain steel products such as stainless steel and cold-rolled coils and sheets. According to the administration, the steel items in the case are used for production in a wide range of products such as car parts, kitchen equipment, computer components, electrical motors, cable cars, shipping containers and building materials. The tariffs faced by Chinese and South Korean firms stand at 38.11% and 37.65 percent, respectively.

Before the previous punitive tariffs ended, the administration said, Yieh United Steel Corp & Tang Eng Iron Works Co, two of the leading steel makers in Taiwan, filed a petition on Aug. 8, arguing that the termination of the punishment could harm the Taiwan steel market if Chinese and South Korean firms continued to dump their products here.

Source : CNA

voda 2 september 2019 18:49

0

British Steel's TSP Projects Unit Sold to SYSTRA

British Steel's official receiver announced that TSP Projects, a wholly owned subsidiary of British Steel, which entered compulsory liquidation May 22, has been sold to rail transport engineering and consultancy firm SYSTRA Ltd. Based in York UK TSPP provides consultancy, design, engineering and on-site project management services. The sale of TSPP's shares to SYSTRA Ltd, the UK subsidiary of France-based SYSTRA Group, will expand SYSTRA's footprint in the UK and preserve over 400 jobs at TSPP. The receiver said "This transaction is a solvent sale and TSPP is not in any insolvency proceedings and remains liable to continue to support its pension scheme.”

The receiver added "This sale has no impact on the proposed sale of the remaining British Steel group and exclusive talks with the preferred buyer, Turkey's Ataer Holdings AS, are continuing."

SYSTRA Group is an international mass transit, mobility and infrastructure company, with national and international experience in high speed rail, heavy rail, metro, light rail transit and transport consultancy. TSPP's extensive experience in the UK heavy rail sector creates an opportunity for SYSTRA to become the UK leader in transportation solutions across all aspects of rail engineering, complex infrastructure and transport planning, according to the website. TSPP's expertise in civil engineering, electrification and track will expand and complement SYSTRA's UK rail engineering services, and double SYSTRA's UK presence, it said. Furthermore, the move sees SYSTRA commit to support TSPP's other business sectors: energy from waste, security and construction, according to the TSPP website.

TSPP said it is active on a number of large rail projects including Leeds Railway Station roof and concourse transformation, Gatwick Station, Transpennine Route Upgrade and the East Coast Power Supply Upgrade. The company is also involved in projects involving design of energy from waste projects across the UK including Leeds RERF, Suffolk, Avonmouth and Parc Adfer.

Source : Strategic Research Institute

voda 2 september 2019 18:50

0

Mr Naushad Akhter Ansari Retires from JSPL

Mr. Naushad Akhter Ansari, who had joined Jindal Steel & Power Limited as an Executive Director in September 2008 and was later inducted on the Board of JSPL as Wholetime Director, designated as Joint Managing Director of the Company wef 29 March 2019. After spending almost 11 years and contributing immensely, he has superannuated from the services of the Company.

JSPL said “In view of the above, Mr Ansari has also ceased to be the Joint Managing Director and Director of the Company wef close of business hours of 31 August 2019.”

Source : Strategic Research Institute

voda 2 september 2019 18:50

0

SAIL to close SAIL Jagdishpur Power Plant Ltd & SAIL Sindri Projects Ltd

ET reported that Steel Authority of India Limited is shutting down two of its subsidiaries located in Uttar Pradesh and Jharkhand. It said "SAIL has initiated actions for closure/exit from certain JV companies as well as subsidiaries which are either non-performing or non-operational. The closure action for two subsidiary companies viz SAIL Jagdishpur Power Plant Limited and SAIL Sindri Projects Limited under Fast Track Exit Mode is in progress.”

The two subsidiary companies have filed application for closure under Fast Track Exit Mode as per provisions of Section 248(2) of the Companies Act: 2013 and Rule 4 (1) of the Companies (Removal of Names of the Companies from the Register of Companies) Rules, 2016.

However, SAIL did not provide any financial details of these units.

Another SAIL subsidiary IlSCO-Ujjain Pipe and Foundry Company Limited, Kolkata is already under liquidation. SAIL also has two other subsidiaries - SAIL Refractory Company Limited at Salem in Tamil Nadu and Chhattisgarh Mega Steel Limited at Bhilai in Chhattisgarh.

Source : ET

voda 2 september 2019 18:51

0

3 Injured in Explosion at Venkateshwara Ispat in Raipur

PTI reported that an explosion occurred on Sunday morning Venkateshwara Ispat in Urla industrial area in Raipur leaving three workers injured. The incident occurred at the electric panel section of Venkateshwara Ispat in Urla industrial area earlier in the day when some labourers were working there

City superintendent of police Urla area Mr Abhishek Maheshwari told "As per preliminary information, the blast occurred in the electric panels leaving the workers, identified as Jainarayan Pandey, Bhagwati Prasad and Rajendra Chauhan, injured.”

The SP said the exact cause of the explosion was yet to be ascertained.

A case has been registered against the management of the company, he said, adding that further probe is underway.

Source : Strategic Research Institute

Bijlage:

voda 2 september 2019 18:52

0

Danieli Upgrades Thin-Slab Casters at TISCO

After seven years of operation Danieli carried out upgrades to the two thin-slab casters supplied in 2012 at TISCO in Tangshan, China. TISCO ordered Danieli Rotelec mould electromagnetic brake technology to produce defect-free thin slabs at high speeds and throughput. This technology not only produces a global braking function but also can flexibly address the specific flow problems of thin-slab casters. It uses five electromagnets to produce a static permanent magnetic field across the mould, to generate stabilizing and damping functions, in addition to standard braking.

In the first quarter of this year the first heat with the MM-EMB® was carried out and only five days later a casting speed of 6.0 m/min on a MC steel grade was achieved, with excellent hot-rolled coil quality results. e
Source : Strategic Research Institute

voda 2 september 2019 18:53

0

MMK Saves More Than USD 38 million Due to Increased Production Efficiency

According to results for the first half of 2019, the implementation of programs aimed at improving production efficiency at the Magnitogorsk Iron and Steel Works has had an economic impact in excess of USD 38.3 million. As part of the strategic initiatives adopted in 2015 aimed at improving operational and functional efficiency, the MMK Group has for a number of years been working consistently and comprehensively to reduce consumption of all types of resources and to seek opportunities to further improve efficiency. As a result, since 2016, the Company has received an increased profit of USD 283.26 million. This included the impact of low-budget high efficiency investment projects (Baby Capex) which contributed in excess of USD 41.34 million.

During the first half of 2019, the optimisation of technological processes had an impact of USD 18.37 million, the introduction of Baby Capex had an economic impact of USD 7.5 million, invention and innovation provided a saving of more than USD 4.6 million and the implementation of energy saving measures allowed for a saving of USD 8.2 million.

Increased efficiency paints the following picture when observed through the prism of saved resources: saving fuel and energy resources had the most significant economic impact (USD 19 million), followed by base and raw materials (USD 9.75 million), as well as auxiliary materials (USD 5.74 million). The total economic impact for the first six months of 2019 amounted to more than USD 38.3 million.

Tight control over resource expenditure and the search for domestic reserves to reduce costs allow MMK to counter the negative impact of market factors, to ensure the competitiveness of its products and to maintain a strong presence amongst the leaders in both the domestic and global steel industry in terms of economic efficiency.

Source : Strategic Research Institute

voda 2 september 2019 18:58

0

Abinsk Electro Chose Danieli Bundling Machinery for Bar & Rod Mill

Abinsk Electro Metallurgical Works chose Sund Birsta technology and KNDelta binding machine with double wirefeeding for its mill in Abinsk, Russia. The new binding machine will allow the production of one-ton, 12-m bundles, with 10 wraps for cost-effective handling, opening new foreign markets for AEMZ. This new generation binding machine will be equipped with binding and twisting heads driven by electrical motors instead of the traditional, hydraulic drives.

Commissioning is scheduled before the end of 2019.

Source : Strategic Research Institute

voda 2 september 2019 18:59

0

POSCO Workers Signed Tentative Wage Deal

South Korea's largest steelmaker POSCO has reached a tentative wage and collective bargaining agreement with its labor union. POSCO said the union is set to vote on September 9 on whether to accept the agreement. POSCO and its labor union began this year's collective bargaining in May.

POSCO, founded in 1968, had its first union in the late 1980s, with its membership peaking at more than 18,000.

Source : Korea Herald

voda 2 september 2019 18:59

0

BHEL to Divest Stake in Neelanchal Ispat Nigam Ltd

BHEL had invested INR 5.0 crores as equity in Neelanchal Ispat Nigam Limited.
BHEL Board in their 509th meeting on 30.08.2019 held at New Delhi approved the proposal for strategic disinvestment of BHEL's equity in NINL.

Source : Strategic Research Institute

voda 2 september 2019 19:00

0

80 Millionth Tonne of Steel Produced at Metalloinvest OEMK

An 80 millionth tonne of steel was produced in the electric steelmaking shop of the Oskol Electrometallurgical Combine of Metalloinvest. A jubilee ton of steel was produced in an arc steel-smelting furnace No 4 by the technological team No 3 under the leadership of the shift supervisor Roman Godlevsky. Stalevar - Albert Timergalin, master - Dmitry Drozd. Steel was processed at an argon purge unit, an integrated steel processing unit, and a steel circulation pump. At this stage, technology team No. 3 was replaced by technology team No 2 under the leadership of shift supervisor Vladislav Savin. At 23.31, the jubilee ton was bottled on a continuous casting machine No. 2. Caster master - Ivan Ryazhev, casting master - Artem Kondrashev.

Mr Sergey Shishkovets Managing Director of OEMK said that “The production of 80 million tons of steel is a significant milestone in the history of OEMK and the steelmaking shop. It took the metallurgists 35 years to achieve this important production indicator.”

Source : Strategic Research Institute

voda 2 september 2019 19:01

0

Mr Daniel Wodera Appointed as CFO of thyssenkrupp Materials Services

Daniel Wodera is to become CFO of thyssenkrupp Materials Services effective October 1st 2019. This was confirmed by the supervisory board of thyssenkrupp Materials Services at its meeting. Mr Klaus Keysberg, who was appointed CEO of thyssenkrupp Materials Services in January this year and has additionally been acting as CFO since then, has held the post of CFO since 2014. Mr Wodera has a degree in business administration and has been with the Group since 2001. He is returning to Essen from the Italian subsidiary Acciai Speciali Terni SpA where he has been CFO since 2015 and played a key role in the company’s successful restructuring. Before his appointment as CFO of AST, Wodera held various management roles at thyssenkrupp Materials Services, most recently as Head of Controlling from 2012 to 2015.

Mr Klaus Keysberg CEO of thyssenkrupp Materials Services said that “I am very pleased that Daniel Wodera is joining our board team. Each of us in the board brings different competencies and wide business experience. I am convinced that we are ideally positioned to successfully move Materials Services forward together with our employees.”

Source : Strategic Research Institute

Vertraagd	20 mei 2024 17:39
Koers	24,170
Verschil	-0,100 (-0,41%)
Hoog	24,670
Laag	24,150
Volume	1.919.360
Volume gemiddeld	2.540.437
Volume gisteren	2.399.653

02 mei	Beursblik: resultaten ArcelorMittal b...	1
02 mei	AEX gaat hogere opening tegemoet, ter...	4
02 mei	Meer omzet en hoger resultaat bij Arc...
01 mei	Lagere winst ArcelorMittal verwacht
23 apr	Mondiale staalproductie daalt toch weer
16 apr	Deutsche Bank haalt ArcelorMittal van...	1
12 apr	Video: cyclische aandelen bieden kansen
09 apr	World Steel Organisation ziet vraag n...
22 mrt	Mondiale staalproductie in de lift
12 mrt	ArcelorMittal neemt groot belang in V...

Arcelor Mittal « Terug naar discussie overzicht

Nieuws en info hier plaatsen (deel 4)

Meedoen aan de discussie?

Direct naar Forum

Detail

ArcelorMittal nieuws meer