Nieuws en info hier plaatsen (deel 4)

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JSPL Reports Production & Sales for Jul-Sep Quarter

Jindal Steel & Power Limted has reported 18% YoY growth in consolidated steel production to 2.35 million tonnes in July-September 2020 quarter as compared to 1.99 million tonnes in July-September 2019. The company also reported a 16% YoY rise in standalone steel production at 1.84 million tonnes in Q2of FY 2020-21 as compared to 1.58 million tonnes in Q2 of FY 2019-20.

JSPL’s Barbil Pellet plant records highest ever quarterly pellet production of 2.01 nillion tonnes in Q2FY21.

Source : STRATEGIC RESEARCH INSTITUTE
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SMS Group Extends Portfolio in Extrusion & Forging Technology

With the acquisition of Italian companies OMAV SpA and Hydromec SRL, SMS group is further expanding its product range in the extrusion plant and forging press sectors. OMAV, a supplier of aluminum extrusion lines, and press manufacturer Hydromec both represent high quality standards and extensive great expertise in their areas of activity, thus strengthening SMS group’s position as a globally active technology leader in mechanical and plant engineering. With its extended product portfolio, SMS group is able to supply complete extrusion lines and forging plants with all upstream and downstream equipment and process technology from a single source – including a high level of automation and integrated digitalization solutions. The two new SMS group companies, located in Brescia, will continue to operate on the market under their own names as subsidiaries of SMS.

Founded in 1952, OMAV has extensive expertise and a solid reputation in the extrusion industry. Since 2011 already, OMAV and SMS group have been cooperating as strategic business partners in the supply of complete extrusion plants for aluminum. SMS group’s participation in 2017 underlined the success of this productive partnership and has now resulted in a full takeover. OMAV has been a wholly owned subsidiary of SMS group since the end of September.

The acquisition of press manufacturer Hydromec was completed immediately afterwards, with OMAV acquiring 70 percent of the Italian company. Hydromec, founded in 1980, specializes in the engineering and construction of forging presses and ring rolling mills for the hot forming of brass, aluminum, and steel. As such, Hydromec has been operating mainly on the European market.

OMAV and Hydromec will now increasingly market their extended product portfolio globally via the SMS group network.

Source : STRATEGIC RESEARCH INSTITUTE
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US Steel Production Capacity Utilization Climbs above 66% in Week 40

AISI announced that in the week ending on October 3, 2020, domestic raw steel production was 1,484,000 net tons while the capability utilization rate was 66.6 percent. Production was 1,803,000 net tons in the week ending October 3, 2019 while the capability utilization then was 77.7 percent. The current week production represents a 17.7 percent decrease from the same period in the previous year. Production for the week ending October 3, 2020 is up 0.3 percent from the previous week ending September 26, 2020 when production was 1,480,000 net tons and the rate of capability utilization was 66.1 percent.

Adjusted year-to-date production through October 3, 2020 was 59,444,000 net tons, at a capability utilization rate of 66.2 percent. That is down 19.6 percent from the 73,936,000 net tons during the same period last year, when the capability utilization rate was 80.3 percent.

Broken down by districts, here's production for the week ending October 3, 2020 in thousands of net tons: North East: 144; Great Lakes: 531; Midwest: 168; Southern: 575 and Western: 66 for a total of 1484.

Source : STRATEGIC RESEARCH INSTITUTE
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Tenaris Data Science Team Deploys New Technologyto Improve Industrial Processes

Tenaris’s data science team has introduced a new technology in its IT infrastructure called Kubernetes to increase the deployment speed of applications, reduce errors in all operational processes and standardize the data science tools. The platform was rolled out during the lockdown due to COVID-19 by Tenaris’s data science team, based at the Dalmine, Italy, mill. The team’s main responsibility is to apply data science and machine learning to increase safety, quality and efficiency across industrial processes.

The first step was done in 2018, when the data science team started to leverage containerization for its workloads. Kubernetes allows having reproducible environments, where software and its dependencies can run in isolation, with a positive impact on security. However, they used to rely on time-consuming manual release cycles for deployments and updates.

Deployment time of a new release went from hours to minutes. With 14 nodes and 200+ pods, Tenaris’s data science team is now running 90% of its most critical workload through this platform, with no downtime since the infrastructure commissioning.

Tenaris is one of the only companies in the steel industry that has an in-house Industrial Innovation department, which the Data Science team is part of. Formed by 40 employees across Italy, Argentina, Mexico and the Netherlands, this team seeks to find innovative solutions to improve Tenaris’s industrial performance.

Source : STRATEGIC RESEARCH INSTITUTE
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Worldsteel Announces 11th Steelie Awards Shortlist

The World Steel Association has announced the shortlist for the 11th Steelie Awards. The Steelie Awards recognise member companies or individuals for their contribution to the steel industry over a one-year period in a series of categories impacting the industry. The winners will be revealed on Wednesday 14 October. The Steelies are awarded in seven categories:

Excellence in digital communications:
JSW Steel Limited
Metinvest Holding LLC
POSCO
Tata Steel Limited
Ternium

Innovation of the year:
Big River Steel – Development of Ultra High Strength (>100ksi yield) hot rolled steel up to 10mm thickness through a mini CSP mill with outstanding toughness
JFE Steel Corporation – Development of resource saving type Si gradient steel sheet for high-speed motors
JFE Steel Corporation - Extra-thick high arrest steel plate for ultra large container ships contributing to maritime logistics revolution (ARRESTEX)
POSCO – Manufacturing technology of high Mn steels for cryogenic LNG transportation; production, commercialisation and certification
Severstal – The digitalisation of steelmaking

Excellence in sustainability:
Gerdau S.A. – Gerdau Sustainable House
JFE Steel Corporation – JFE Steel’s contribution to improve marine environments using steel slag products
Novolipetsk Steel – Processing of a 5 Mt metallurgical slag dump and reclamation of the adjacent territory
POSCO - Triton Sea Forestation Project
Ternium – Natural gas replacement by the use of biomethane from a landfill at stationary combustion sources
Usinas Siderúrgicas de Minas Gerais - Diversity and Inclusion Programme

Excellence in Life Cycle Assessment:
China Baowu Steel Group Corporation Limited – Use of LCA on carbon trading market policy making
HYUNDAI Steel Company – Use of LCA to support Integrated Management System development
JSW Steel Limited – Use of LCA in new product development
Tata Steel Europe – Use of LCA to evaluate technologies for reduced greenhouse gas emission steelmaking
Tata Steel Limited – Use of LCA to assess new steel solutions in the construction sector

Excellence in education and training:
EVRAZ – Top 300/Top 1,000
JSW Steel Limited – Virtual Academy
Tata Steel Limited – Digie-Shala (Capability Development)
Ternium – Ternium University
TMK - TMK2U E-Learning Developers School

Journalist of the year:
Hongmei Li, Head of Editorial, Mysteel Global
Colin Richardson, Editor, Argus Media
Annalisa Villa, Team Leader News, EMEA, S&P Global Platts

Excellence in communications programmes:
JSW Steel Limited – Roof to Dream
Tata Steel Limited – Celebration of 100 years of India’s First Planned Industrial Township
Tenaris – Tenaris Communications Response to COVID-19
Ternium – Ternium Communications Response to COVID-19
Ternium – The Soul of Mexico

The selection process for the shortlist varies between awards. In most cases the submissions are requested via the appropriate worldsteel committee. Entries are then judged by selected expert panels.
Source : STRATEGIC RESEARCH INSTITUTE
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EC komt met extra importheffingen voor roestvast staal

FONDS KOERS VERSCHIL VERSCHIL % BEURS
Aperam
25,56 0,16 0,63 % Euronext Amsterdam

(ABM FN) De Europese Commissie heeft definitief importtarieven ingevoerd op Chinees, Indonesisch en Taiwanees platgewalst roestvrij staal. Dit maakte de Europese instelling woensdag bekend.

Vooral roestvrij staal uit China en Indonesië wordt geraakt, met heffingen van respectievelijk 19,0 en 17,3 procent. Voor Taiwanees roestvrij staal lopen de heffingen op tot 7,5 procent.

Op die manier zijn er reeds 56 maatregelen getroffen door Brussel om de Europese staalindustrie te beschermen.

Vooral fabrikanten in België, Italië en Finland profiteren van de maatregelen, zo blijkt uit het bericht van de Commissie.

Aperam is een fabrikant van roestvast staal, met beursnoteringen in Amsterdam en Brussel.

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

© Copyright ABM Financial News B.V. All rights reserved.
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Hascelik Orders Combined Drawing Lines for Bright Bar from SMS Group

CCes with optimized features and new developments along the entire process chain. The SMS group scope of supply includes a coil preparation unit with double coiler, a two-carriage drawing machine, a two-roll straightener, a chamfering machine and the entire electrical and automation system.

With this drawing line, the Turkish company, which has been combined under the roof of Faydasicok Holding since March 2017, is expanding its production range to include round bars from bar to bar and from coil to bar between 19 and 42 millimeters. In addition, the company will be able to produce hexagons, squares and other sections. The plant will be designed for a maximum drawing force of 250 kN, a maximum speed of 80 meters per minute and a bar length of 2.5 to 6.5 meters. Hascelik, present in Europe with several sales offices and warehouses, has an overall product portfolio that enables the company to produce drawn bars of up to 100 millimeters, and peeled and ground bars of up to 160 millimeters in diameter.

Special features of the new line are the new coil preparation unit, the completely revised section straightening machines and the two-roll straightener as well as the innovative measuring technology with its monitoring and analysis options. Overall, the new line from SMS group enables Hascelik to achieve a productivity increase of around 10 to 20 percent compared to a conventional drawing line operating at the same production speed.

Commissioning of the drawing line is scheduled for summer 2021.

Source : STRATEGIC RESEARCH INSTITUTE
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POSCO Cryogenic High Manganese Steel HMS for LNG Storage

POSCO has joined hands with ExxonMobil for the liquefied natural gas storage and fuel tank market. POSCO signed a business agreement with ExxonMobil RE in New Jersey, ExxonMobil URC in Texas, and the POSCO Technology Research Institute in Pohang accelerate application of cryogenic high manganese steel HMS to the LNG storage and transport market. Under the agreement, the two companies will apply HMS to overseas LNG projects and cooperate in developing technology to introduce HMS to the energy industry as a whole. POSCO will first push to apply HMS to storage tanks that will be built in global LNG projects ordered by ExxonMobil in the future.

HMS was first applied to Gwangyang LNG Storage Tank No 5, proving its performance and safety. HMS maintains excellent performance even in an cryogenic environment of minus 196 degrees Celsius. In terms of price, it is more competitive than nickel alloy steel currently used for LNG tanks.

In 2019, the Maritime Safety Committee of the International Maritime Organization approved interim guidelines on using HMS for cryogenic LNG storage and fuel tanks.

Source : STRATEGIC RESEARCH INSTITUTE
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Milltech Martin Bright Selects SYSPRO to Enhance Customer Experience

Leading Australian engineering bar processor, Milltech Martin Bright has selected Enterprise Resource Planning specialist, SYSPRO, to enable it to provide a superior customer experience and accelerate its Industry 4.0 rollout. SYSPRO ERP will help Milltech achieve this through better management of production, dispatch planning, inventory management and reducing its stockholding, improving cashflow, remaining compliant, eliminating manual processes whilst providing the capability to support strategic planning. In addition, SYSPRO ERP will enable Milltech to eliminate weekly manual business reporting, replacing it with real-time automated business reporting, so the company always has a single source of the truth at its fingertips. This will enable the company to ensure its quality products are delivered to customers on time every time, whilst providing proactive delivery updates to its customers, rather than reacting to a customer’s delivery enquiry.

Milltech’s SYSPRO 8.0 implementation is currently in the design phase and will be fully implemented by September 2021. It is replacing an ERP system that was designed for smaller manufacturers to enable the company to grow.


Since 1992, Newcastle based Milltech Martin Bright has progressively grown to become Australia’s leading engineering bar processor, now employing in excess of 80 technicians, production and administrative staff located across four manufacturing plants around Australia. Producing more than 30,000 tonnes of engineering bars per annum, the company offers a comprehensive range of steel processing and engineering services using world leading processing technologies.

Source : STRATEGIC RESEARCH INSTITUTE
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Briggs Automotive to Implement Niobium in BAC Mono

Briggs Automotive Company has been awarded funding by OLEV through the Niche Vehicle Network to undertake its latest Proof of Concept R&D project. BAC will use the grant to implement the use of nano element ‘Niobium’ in the structure of BAC Mono. A soft metal, Niobium is a naturally occurring, readily available, sustainable element that is ductile, malleable and highly resistant to corrosion. It effectively enhances the mechanical properties of alloy metals and has therefore been used in a wide range of applications in the aerospace, architecture and energy sectors. For BAC, Niobium will enhance the properties of the alloys used in the chassis and suspension systems of the Mono supercar. Using Niobium-enhanced alloys will mean less material will be needed to meet structural targets resulting in lighter weight.

After the successful completion of an OLEV Feasibility Study into the use of Niobium for automotive lightweighting, BAC will now prove the concept by developing and producing structural prototype systems. If successful, the next stage of the project will be implementing Niobium into full production.

Despite Niobium’s use in the likes of jet engines, rockets and in building structures, BAC’s project will be the first time that the element has been used in the supercar sector, with the potential for the innovation to be used elsewhere in the industry (including with zero emission vehicles) upon completion.

The project is sponsored by CBMM, world leader in the production and commercialisation of niobium products with customers in over 40 countries. In the automotive sector, the Brazilian company is most recently known as Founding Supplier of Extreme E racing, a new racing series that caught attention of people like Lewis Hamilton, and for its involvement in Formula E.

Source : STRATEGIC RESEARCH INSTITUTE
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Nippon Steel FeLuce Steel Wins Good Design Award 2020

Nippon Steel Corporation has been awarded the Good Design Award 2020 by the Japan Institute of Design Promotion for our new product FeLuceTM, hairline-finished electroplated steel sheet, which has consequently become first steel sheet to win this prestigious award. FeLuce is a novel type of steel sheet created using a groundbreaking production method that adds designs to plating layers applied to achieve corrosion resistance. Instead of the conventional method that paints and films the surface of sheets, Nippon Steel adopted a simple production method that compliments the natural steel texture to preserve steel's natural beauty while achieving a high level of functionality, which is an important product requirement. Nippon Steel also made sure that the final product would be lean and eco-friendly. By solving a variety of dilemmas that were inevitable in product design, FeLuce has further broadened its potential in this field.

Nippon Steel expects that FeLuce will be used for a variety of field such as home appliances, industrial equipment, steel furniture and interior construction materials. This novel collection will be available in two classic colors FeLuce Black gives a sophisticated and composed feeling while FeLuce Silver's rich reflectiveness fits well into the surrounding space.

Source : STRATEGIC RESEARCH INSTITUTE
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Commercial Metals Company Announces Changes to Segment Reporting

Commercial Metals Company announced that beginning with its fourth quarter of fiscal 2020, the Company realigned its reporting structure to include two operating segments: North America and Europe. North America comprises the Company's former Americas Recycling, Americas Mills, and Americas Fabrication business segments. Europe comprises the Company's former International Mill segment, with no other changes. Corporate and Eliminations will continue to be reported separately from operating segments.

The decision to realign CMC's operating segment structure was made to reflect
Its vertically integrated operating model in North America, which is now supported by a National Sales, Inventory and Operations Planning function created in fiscal 2020
Changes to its operating model and geographic footprint following the full integration of the rebar assets acquired in fiscal 2019 into its North America operations
The way management now uses the integrated North America data to manage the business, assess performance, and allocate resources.

Source : STRATEGIC RESEARCH INSTITUTE
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Philippines to Crackdown on Sub Standard Rebar Makers

Business Mirror reported that the Philippine Iron and Steel Institute has vowed to multiply test buy operations to report manufacturers and retailers slipping in substandard steel in the market by exploiting quarantine restrictions. Pisi will intensify its test buy operations to expose firms and retailers selling substandard steel to unsuspecting buyers. Likewise, the group will work with the DTI in enforcing laws on product standards.

Joel T. Ronquillo, vice president for technical affairs at Pisi, relayed to the Department of Trade and Industry the sale of substandard rebars in hardware stores in Central Luzon. Further, he alleged the products were made by Real Steel Corp. and Metrodragon Steel Corp, both of which are known to use induction furnace for steelmaking.

According to Pisi, samples from the test buys were sent to the Bureau of Philippine Standards. The agency then sent them to the Metals Industry Research and Development Center, of the Department of Science and Technology, for quality and safety evaluation. Citing MIRDC’s findings, Pisi argued the lug height and mass variation of the samples failed to conform with what the government requires to guarantee the integrity of a rebar.

Source : STRATEGIC RESEARCH INSTITUTE
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Universal Stainless Reaches Labor Agreement at Titusville Facility

Universal Stainless & Alloy Products Inc announced that it has reached a new 5-year collective bargaining agreement with the hourly employees at its Titusville, PA facility represented by Local 7312-03 of the United Steelworkers. The new 5-year collective bargaining agreement has been ratified by the bargaining unit and is effective as of October 1, 2020. The new contract maintains the flexible work rule terms and profit sharing incentives contained in the prior agreement.

Dennis Oates, Chairman, President and Chief Executive Officer, commented: “We are pleased that the new labor agreement at our Titusville facility allows us to be competitive in the marketplace and attract skilled employees, while being in the best interests of our employees, customers and shareholders.”

Source : STRATEGIC RESEARCH INSTITUTE
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Locweld to Manufacture Steel Transmission Towers

Locweld has been awarded a major contract by Hydro-Québec for the new Micoua-Saguenay 735 kV transmission line. Locweld, situated in Candiac in Québec, will require almost 20,000 tons of steel to manufacture the lattice transmission structures ordered by the Crown Corporation. Production has started and will continue through February 2022. The value of the contract is close to CAD50 million.

This contract award demonstrates the success of the recent collaboration between Locweld and Valmont MD Utility, a division of the American multinational Valmont MD Industries, a manufacturer and distributor of infrastructure products and services. The exclusive relationship with Valmont since December 2019 allows Locweld to increase its total annual production capacity to 90,000 tons, and to increase its competitive advantage.

The 735 kV Micoua-Saguenay transmission line extends for roughly 262 km between the Micoua substation in the Côte-Nord region and the Saguenay substation in the Saguenay – Lac-Saint-Jean region. The new transmission line will help to maintain the reliability of Hydro-Québec's transmission system. Reduced consumption in the Côte-Nord region and the shutdown of several thermal and nuclear generating stations in southern Québec have resulted in increased power flow along the lines in the Manic–Québec corridor towards the major load centers, making the new line necessary. The commissioning of the new line is scheduled for 2022.

Source : STRATEGIC RESEARCH INSTITUTE
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Agha Steel IPO Oversubscribed

The book-building process of Agha Steel’s Initial Public Offer has concluded with an oversubscription of 1.63 times. Pakistani media reported that Agha Steel Industries attracted investment of PKR 3.84 billion through the offer of shares to institutional, rich individual and retail investors at the Pakistan Stock Exchange with the prime objective of increasing its production capacity significantly. The company determined a share price of PKR 32 through the auction of 90 million shares, or 75% of the total issue size of 120 million shares, to institutional and high net-worth individuals through the book-building process of the initial public offering.

The company had set the floor minimum price for the share offer at PKR 30 per share. It would offer another 30 million shares, or 25% of the total of 120 million shares, to retail investors at the strike price of PKR 32 per share on October 14-15. In case, retail investors do not buy all the 30 million shares, then the firm will sell the remaining shares to successful institutional and high net-worth individual bidders as it has received bids for 135.97 million shares against the offer of 90 million shares during the October 6-7 book-building process. The offer of shares has been oversubscribed by 1.5 times under the book-building process.

The IPO would help the company increase the output of rebars to 650,000 tonnes, up by 160% from the pre-IPO levels of 250,000 tonnes.

Source : STRATEGIC RESEARCH INSTITUTE
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Beursblik: Bank of America verhoogt koersdoel ArcelorMittal

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal
12,306 -0,008 -0,06 % Euronext Amsterdam

(ABM FN-Dow Jones) Bank of America heeft het koersdoel voor het aandeel ArcelorMittal verhoogd van 16,00 naar 18,00 euro met handhaving van het onlangs naar Kopen verhoogde advies. Dit bleek vrijdag uit een analyse en vooruitblik op het derde kwartaal van de Amerikaanse zakenbank.

Bank of America vindt de verkoop van de Amerikaanse activiteiten door ArcelorMittal positief, omdat het de onderneming stroomlijnt en winstgevender maakt.

Voor het derde kwartaal voorzien de analisten een operationeel resultaat (EBITDA) van 941 miljoen dollar, hetgeen een stijging zou zijn van 33 procent ten opzichte van het lage winstniveau in het tweede kwartaal.

Voor het vierde kwartaal verwacht de bank een verdere verbetering van de winstgevendheid. In 2021 ziet de bank de EBITDA met 3 procent oplopen naar 5,4 miljard dollar.

Daarnaast verhoogde Bank of America vrijdag de verwachtingen voor staalprijzen voor de Europese markt op grond van aantrekkende staalvolumes in Europa richting niveaus van voor de corona-uitbraak.

Het aandeel ArcelorMittal noteerde vrijdag op een groen Damrak 0,1 procent lager op 12,30 euro.

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

© Copyright ABM Financial News B.V. All rights reserved.
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ArcelorMittal Poland to Permanently Close Primary Operations at Krakow Plant

ArcelorMittal Poland announced that it intends to permanently close its primary steelmaking operations at its unit in Kraków. The shutdown process in the blast furnace and the steel shop will begin in October and will last a few weeks before the assets are permanently stopped. The blast furnace and steel shop in Kraków were temporarily idled in November 2019, as a result of the market downturn, coupled with large volumes of steel imports from outside the EU. Since then, the majority of the affected employees have been either redeployed to other ArcelorMittal Poland sites or since March 2020 and the arrival of the Covid-19 pandemic put into temporary unemployment. These measures were taken when the longer-term outlook for steel demand was unclear.

The EU steel sector has been hit very hard by the pandemic, with all the steel-using industries reducing their activity, including temporary closures. As the macro-economic indicators now suggest, a fast recovery in steel demand is unlikely. ArcelorMittal Poland therefore had to take permanent measures in order to adapt to this lower demand.

In addition to the impact of the Covid-19 pandemic, a number of other structural issues have made the company’s activity economically unviable. They include:

The lack of emergency trade measures, coupled with the European Commission’s recent decision to further increase the quota of tariff-free steel imports from outside the EU, at a time when steel demand in Europe has fallen dramatically

High energy costs and the introduction of additional capacity market fees coming into force in January 2021

The lack of a level playing-field in terms of carbon costs between EU and non-EU steel producers; with Emissions Trading System costs continuously rising, and no Carbon Border Adjustment yet in place to equalise carbon costs, this is seriously eroding the competitiveness of European steelmakers

The cumulative impact of these structural issues is carbon leakage, when steelmaking moves outside Europe, to countries where producers are not subject to the ETS.

The coke plant in Krakow will continue to operate as well as the downstream operations (two rolling mills, the hot dip galvanizing line and the new organic coating line) in which the company has invested about PLN 500 m (EUR 110m) over the last five years.

The slabs for the rolling mills in Kraków will come mainly from the steel shop in Dabrowa Gornicza, where the company will invest PLN 180 m (EUR 40 m) in debottlenecking projects, and to produce special grades for further processing into grain-oriented steel.

Source : STRATEGIC RESEARCH INSTITUTE
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Canada Imposes Dut on Heavy Plate Import from Taiwan, Germany & Turkey

On October 9, 2020, the Canada Border Services Agency made a preliminary determination of dumping concerning certain hot-rolled carbon steel heavy plate and high-strength low-alloy steel heavy plate originating in or exported from the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu (Chinese Taipei), Germany and Turkey. Provisional duties will now be payable on the subject goods from Chinese Taipei, Germany and Turkey that are released from customs on or after October 9, 2020.

On the same date CBSA terminated the dumping investigation in respect of the above mentioned goods originating in or exported from South Korea and Malaysia.
The subject goods are usually imported under the following tariff classification numbers:
7208.51.00. 10
7208.51.00. 93
7208.51.00. 94
7208.51.00. 95
7208.52.00. 10
7208.52.00.93
7208.52.00.96

Source : STRATEGIC RESEARCH INSTITUTE
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Thyssenkrupp Opens Books for Due Delligence - Report

A top executive told Reuters that Thyssenkrupp has begun due diligence with potential bidders for its plant division as the German conglomerate accelerates a radical overhaul to sell or turn around ailing business units in the next two years. Mr Volkmar Dinstuhl, who heads up the group’s Multi-Tracks division, which houses businesses Thyssenkrupp no longer wants to own, and oversees the divestment of non-core assets, said the company has opened the books to buyers of its plant-building units and received expressions of interest for its stainless steel division. Outlining a timeline for restructuring, he said “Our goal is to find a solution for all our businesses within the next two years.”

Mr Dinstuhl said that Multi-Tracks, which accounts for about 6 billion euros in sales and was responsible for 400 million euros of negative cash flow in the 2018/19 fiscal year, will seek to sell, shut down or find partners for the 10 units it comprises.

The Essen, Germany-based company, which makes submarines, warships, steel and car parts, as well as equipment for cement factories, construction and fertiliser plants, is struggling to define what its core business is. Thyssenkrupp is also open to considering offers for its automotive and remaining industrial assets.

Source : STRATEGIC RESEARCH INSTITUTE
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Detail

Vertraagd 4 dec 2020 17:38
Koers 17,474
Verschil +0,512 (+3,02%)
Hoog 17,474
Laag 16,920
Volume 8.224.115
Volume gemiddeld 7.067.883
Volume gisteren 8.114.353

Brussel real time stocks quotedata by Euronext. Other real time EU stocks, by Cboe Europe Ltd.; US stocks by NYSE & Cboe BZX Exchange, 15 min. delayed
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