ArcelorMittal LU1598757687

Nieuws en info hier plaatsen (deel 4)

1. voda 3 april 2023 08:19

   auteur info

   • voda

     Lid sinds: 02 dec 2005

     Laatste bezoek: 04 mei 2024

   • Aanbevelingen

     Ontvangen: 82389

     Gegeven: 20949

   •    Aantal posts: 365.133

   Nippon Steel Cuts Stake in Usiminas
   
   Nippon Steel & Ternium Investments and its three group companies have agreed to amend the Amended and Restated Shareholder Agreement and establish a new governance structure for Usinas Siderúrgicas de Minas Gerais, Usiminas. The decision comes as both parties recognized the need for stronger leadership to increase corporate value and growth in Usiminas.
   
   Under the amended Shareholder Agreement, Ternium will nominate the CEO and Nippon Steel will nominate the Chairperson of the Board of Directors. Ternium will also nominate five members, including the CEO, to the Executive Board, while Nippon Steel will nominate one member. In addition, Nippon Steel will transfer approximately 64.2 million ordinary shares of Usiminas, along with other Nippon Group shares, to Ternium for a transfer price of $1.97 per share.
   
   Following the share transfer, Ternium's voting ratio will increase to 49.5%, while Nippon Steel's voting ratio will decrease to 22.2%. Despite the transfer, Nippon Steel will continue to jointly manage Usiminas with other controlling group members, Ternium and Previdência Usiminas, with the goal of increasing Usiminas' competitiveness and corporate value for all stakeholders.
   
   The transaction is subject to approval by the Brazilian antitrust authority and other preconditions.
   
   Usiminas is a Brazilian steel company with headquarters in Belo Horizonte, Minas Gerais. It was founded in 1962 and is one of the largest steel producers in Brazil. The company produces a wide range of steel products, including flat steel, long steel, and special steel. Usiminas has operations throughout Brazil and also exports its products to other countries. In addition to its steel production activities, Usiminas is also involved in the production of iron ore and other raw materials. The company has the capacity to produce over 9 million metric tons of steel per year.
   
   Usina de Ipatinga: Located in the state of Minas Gerais, this facility has a crude steel production capacity of 5.5 million metric tons per year.
   
   Usina de Cubatão: Located in the state of São Paulo, this facility has a crude steel production capacity of 1.5 million metric tons per year.
   
   Mineração Usiminas: This subsidiary is responsible for iron ore mining and pellet production. It has the capacity to produce 9.5 million metric tons of iron ore per year and 4.8 million metric tons of pellets per year.
   
   The company is listed on the Brazilian stock exchange (B3) and is also traded on the New York Stock Exchange (NYSE) under the ticker symbol USNZY.
2. voda 3 april 2023 08:20

   auteur info

   • voda

     Lid sinds: 02 dec 2005

     Laatste bezoek: 04 mei 2024

   • Aanbevelingen

     Ontvangen: 82389

     Gegeven: 20949

   •    Aantal posts: 365.133

   BRS Leader Seeks Cancellation of RINL’s Move to Bring Funding
   
   In a surprising move, Telangana IT Minister Mr. K Taraka Ramarao has written a letter to the Central Government demanding the stop of conspiracies to privatize Rashtriya Ispat Nigan Limited’s Vizag Steel Plant. Alleging backdoor conspiracies to privatize the plant in the name of funds for working capital and raw material, Mr Ramarao has stated that BRS is seriously opposing this move. Vizag Steel Plant is an emotional issue for the people of Uttarandhra, and it could have easily become an issue for the entire state, warns Mr. Ramarao
   
   Mr. Ramarao demanded the allocation of ?5,000 crore to the steel plant, opposing the move to disinvest it. He claimed that the Central Government is conspiring to sell off the steel plant worth ?150,000 crore to private players.
   
   He also accused the government of not allotting iron ore mines to the steel plant, leading to a cost burden of over 60% on raw material, while the cost of raw materials in private companies is less than 40%.
   
   The BRS working president laid out a detailed plan to revive the PSU, including merging it with the Steel Authority of India Limited, which has already announced its expansion plans with a cost of around ?1 lakh crore, instead of selling it to private companies.
3. voda 3 april 2023 08:20

   auteur info

   • voda

     Lid sinds: 02 dec 2005

     Laatste bezoek: 04 mei 2024

   • Aanbevelingen

     Ontvangen: 82389

     Gegeven: 20949

   •    Aantal posts: 365.133

   Tinplate Company’s Expansion Project to be Inaugurated
   
   Jharkhand Chief Minister Mr. Hemant Soren plans to attend the inauguration of the Tata Steel’s Tinplate Company's expansion project in Jamshedpur as the chief guest, reports The Avenue Mail.
   
   The production of Tinplate Company has been consistently increasing, prompting the management to raise the production target of CRM, leading to the expansion project.
   
   Tinplate Company is a leading manufacturer of tinplate and tin-free steel in India. The company, a subsidiary of Tata Steel, is based in Jamshedpur, Jharkhand, and has been in operation since 1920. Tinplate Company produces high-quality tinplate and tin-free steel that are widely used in the packaging industry for products such as food and beverages, paints, and chemicals.
   
   With the expansion project, Tinplate Company aims to increase its production capacity and further strengthen its position in the market.
4. voda 3 april 2023 08:20

   auteur info

   • voda

     Lid sinds: 02 dec 2005

     Laatste bezoek: 04 mei 2024

   • Aanbevelingen

     Ontvangen: 82389

     Gegeven: 20949

   •    Aantal posts: 365.133

   Max-Planck Develop Technology for DRI Production with Ammonia
   
   Researchers at the Max-Planck-Institut für Eisenforschung in Germany have made a significant breakthrough in developing sustainable steel production by reducing solid iron oxides with hydrogen obtained from ammonia. The study highlights that ammonia-based reduction of iron oxide is an autocatalytic process that is as effective as hydrogen-based direct reduction, and it yields the same metallization.
   
   The researchers also demonstrate that this approach can be implemented using existing technologies. The iron & iron nitride mixture produced can be melted in an electric arc furnace or co-charged into a converter to attain the required chemical composition for different steel grades. This novel approach could pave the way for a transition to sustainable iron making, mediated by green ammonia.
   
   The study is significant because it shows that renewable energy, mediated by green ammonia, can be utilized to reduce iron oxide, resulting in sustainable steel production. Furthermore, the method can be achieved using current technologies, paving the way for a disruptive technology transition toward sustainable iron making.
   
   The approach could be a game-changer for the steel industry, which is a significant contributor to greenhouse gas emissions. The research highlights that ammonia-based reduction of iron oxide is as effective as hydrogen-based direct reduction, and it produces the same quality of metallization. Therefore, it has the potential to replace traditional methods of steel production, which emit vast amounts of greenhouse gases. With further development and refinement, this sustainable steel production approach could help to reduce carbon emissions and increase sustainability in the steel industry.
   
   The findings of this study have been published in the journal Advanced Science, and the paper is available for open access.
5. voda 3 april 2023 08:21

   auteur info

   • voda

     Lid sinds: 02 dec 2005

     Laatste bezoek: 04 mei 2024

   • Aanbevelingen

     Ontvangen: 82389

     Gegeven: 20949

   •    Aantal posts: 365.133

   RINL CMD Expects Recovery in Apr-Jun Quarter
   
   The Chairman and Managing Director of RINL, Mr. Atul Bhatt, addressed the RINL collective on the first day of the FY23-24 at MP Hall, Ukkunagaram in Vizag. He commended the RINL team for their dedicated efforts in overcoming multiple challenges at various fronts, making FY22-23 one of the most difficult years. He congratulated the RINL collective and expressed his determination to turn Profit After Tax positive in the 1st quarter of FY23-24 with the lessons learnt from the past year.
   
   Mr. Bhatt also congratulated the project collective on receiving the Preliminary Acceptance Certificate for the forged wheel plant at Rae Bareli, which would soon ramp up production to 55,000 wheels to meet the demand from Indian Railways for high-speed trains.
   
   Furthermore, Mr. Bhatt highlighted the initiatives taken to ensure raw material securitization, including increasing the usage of indigenous coals in the blend and incentivizing advance payment from customers. He also mentioned the significant progress achieved by the RINL subsidiary, Odisha Mineral Development Corporation, towards the resumption of mining operations, providing not only raw material security but also dividends to RINL.
   
   Mr. Bhatt appreciated the works collective for maximizing production within the available resources, indicating that hot metal production from 2 Blast Furnaces, finished steel production from all the Expansion Mills, and high-end value steel production are the best for any year since inception. He also congratulated the marketing collective for their multiple initiatives and commercial skills in securing their share in the market, amidst the toughest competitive business environment, and applauded the acumen of the finance collective
6. voda 3 april 2023 08:21

   auteur info

   • voda

     Lid sinds: 02 dec 2005

     Laatste bezoek: 04 mei 2024

   • Aanbevelingen

     Ontvangen: 82389

     Gegeven: 20949

   •    Aantal posts: 365.133

   NCL Clears Jindal Saw's bid to Acquire Sathavahana Ispat
   
   The National Company Law Tribunal has given the green light to Jindal Saw's bid to acquire Sathavahana Ispat through the insolvency resolution process. Jindal Saw has offered to pay ? 694 crore against the acknowledged debt of ? 1,852 crore of the defaulting borrower.
   
   The resolution plan proposed by Jindal Saw has been deemed binding on all stakeholders, including the Corporate Debtor, its employees, members, and creditors, the Central Government, any State Government, or any local authority to whom a debt in respect of the payment of dues is due, guarantors, and other stakeholders involved in the Resolution Plan. This approval paves the way for Jindal Saw to take over the operations of Sathavahana Ispat, subject to regulatory approvals.
   
   Incorporated in 1995, Sathavahana Ispat Limited is a listed steel manufacturer based in Andhra Pradesh, India. The company produces a wide range of steel products, including wire rods, billets, and rebars. Sathavahana Ispat has a production capacity of 300,000 metric tons per annum and operates a state-of-the-art steel plant in the district of West Godavari in Andhra Pradesh.
   
   Promoted by Mr. Prithviraj Jindal, Jindal Saw is a leading global manufacturer and supplier of iron and steel products. Jindal Saw produces a wide range of products, including pipes, fittings, plates, and coils, serving diverse industries such as energy, infrastructure, and water. The company was established in 1984 and has since grown to become one of the largest pipe producers in the world. Jindal Saw operates state-of-the-art manufacturing facilities in India, the United States, and the Middle East, employing advanced technologies and processes to ensure high-quality products.
   
   The acquisition of Sathavahana Ispat will strengthen Jindal Saw's position in the steel industry, allowing it to expand its product offerings and production capacity. The move is expected to boost the company's revenue and market share, consolidating its position as one of India's leading steel producers.
7. voda 3 april 2023 08:22

   auteur info

   • voda

     Lid sinds: 02 dec 2005

     Laatste bezoek: 04 mei 2024

   • Aanbevelingen

     Ontvangen: 82389

     Gegeven: 20949

   •    Aantal posts: 365.133

   Tata Steel Netherland Condemns Remarks by Climate Activists
   
   Tata Steel Netherlands management and the General Works Council have strongly condemned the inappropriate comments made by some of their employees on WhatsApp and Facebook groups regarding a demonstration planned by climate activists at the IJmuiden plant. The comments were deemed unacceptable, insulting and were immediately rejected by the company. Hans van den Berg, managing director of Tata Steel Netherlands, has stated that the company will investigate the matter further and take necessary action, reports NL Times
   
   Screenshots of conversations from the Tata Steel shareholders' council and a sub-works council WhatsApp group show employees making firm and clear statements about the Extinction Rebellion-affiliated action group, Kappen met Kolen. The group is planning a 'die-in' on April 3 to protest against the use of coal in the company. However, some of the comments made by the employees were derogatory, insensitive and dehumanizing. For example, the reference to the text "Arbeit macht frei", which was above the entrance to concentration camps during the Holocaust, was made in one of the conversations.
   
   Activist Peter Jamin of Kappen met Kolen was shocked by the comments, but this action against the use of coal in the company will continue as usual. Mr.Jamin believes that more people will participate in this action than in the last one at the Tata Steel site.
   
   It is essential to note that the protest is not against the workers, and the statements made in the WhatsApp groups only reflect the workers' concerns about the future of the coal plant. However, it is crucial to maintain a professional and respectful tone while expressing one's opinions and derogatory, insensitive and dehumanizing comments should not be tolerated in any situation.

   Bijlage:
8. voda 3 april 2023 08:23

   auteur info

   • voda

     Lid sinds: 02 dec 2005

     Laatste bezoek: 04 mei 2024

   • Aanbevelingen

     Ontvangen: 82389

     Gegeven: 20949

   •    Aantal posts: 365.133

   SAIL to Import Rail Wheels, Business Line
   
   Steel Authority of India Ltd is set to import wagon wheels to overcome the problem of railway rake shortage. In-principle approval has been granted to SAIL to import wagon wheels, and the company is now exploring agreements with international suppliers, report Business Line
   
   The steel sector has been facing difficulty in transporting essential ingredients like coal due to the shortage of railway rakes. The Rail Wheel Factory, which is responsible for manufacturing wagon wheels in India, is not able to meet the growing demand for railway rakes, leading to a shortage of these essential components.
9. voda 3 april 2023 08:24

   auteur info

   • voda

     Lid sinds: 02 dec 2005

     Laatste bezoek: 04 mei 2024

   • Aanbevelingen

     Ontvangen: 82389

     Gegeven: 20949

   •    Aantal posts: 365.133

   Mr. Baris Çiftçi of worldsteel Pens Megatrends Impact on Steel Industry
   
   In a blog, Mr. Baris Çiftçi, the Director of Industry Analysis at the World Steel Association, discusses the impact of megatrends on the global steel industry. He highlights the importance of understanding the dynamics of megatrends such as demography and social change, urbanisation, environment-related trends, geopolitics, and technological progress.
   
   To prepare for fundamental changes in the design and materials requirements of steel-containing products, the global steel industry should study the potential impact of megatrends on steel-users and invest in the development of new products, processes, and solutions. Çiftçi emphasizes the need to focus on the use of lifecycle assessment to demonstrate steel’s best in class environmental performance and partner up with steel consumers to innovate higher performance multi-material solutions that meet steel user’s changing requirements better.
   
   Moreover, the global steel industry should establish steel as the most important material decarbonisation lever for all steel-using sectors. For this purpose, steel producer need to combine steel’s inherent superior qualities with a sensible decarbonisation pathway and prepare for a rapid growth in low-carbon steel demand.
   
   The article also suggests that the global steel industry should monitor emerging circularity initiatives carefully and establish steel at the heart of emerging circular ecosystems. The COVID-19 pandemic has accelerated the digital transformation of steel value chains, and steel producers need to devise and implement the right digital transformation strategies to expand smart manufacturing capabilities and study digital ecosystem building opportunities.
   
   Finally, Mr. Çiftçi believes that the global steel industry should focus on building systemic resilience to prepare for a future of more frequent and stronger disruptions brought about by growing impact from climate change and ongoing systemic shifts in global geopolitical and socioeconomic order.
   
   Overall, the article offers valuable insights into the impact of megatrends on the global steel industry and suggests various measures that steel producers can take to adapt to these trends and stay competitive
10. voda 3 april 2023 08:24

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 04 mei 2024

    • Aanbevelingen

      Ontvangen: 82389

      Gegeven: 20949

    •    Aantal posts: 365.133

    NMDC’s Iron Ore Shrinks by 6% YoY in FY23
    
    NMDC has provided the latest production and sales figures for iron ore. For the month of March 2023, the provisional production of iron ore in Chhattisgarh was 4.18 million metric tons compared to 3.68 million metric tons in March 2022, while sales figures stood at 3.08 million metric tons in March 2023 and 3.00 million metric tons in March 2022. In Karnataka, the provisional production for March 2023 was 1.42 million metric tons compared to 1.30 million metric tons in March 2022, with sales figures of 1.76 million metric tons in March 2023 and 1.21 million metric tons in March 2022. Cumulatively, the total production for iron ore in March 2023 was 5.60 million metric tons, an increase from 4.98 million metric tons in March 2022, with sales figures standing at 4.84 million metric tons in March 2023 and 4.21 million metric tons in March 2022.
    
    The cumulative production in April-March 2023 was 41.22 million metric tons compared to 42.19 million metric tons in April-March 2022, with sales figures at 38.25 million metric tons in April-March 2023 and 40.56 million metric tons in April-March 2022, down 5.6% YoY, which is surprising considering that Indian crude steel production has increased in FY23
11. voda 3 april 2023 08:24

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 04 mei 2024

    • Aanbevelingen

      Ontvangen: 82389

      Gegeven: 20949

    •    Aantal posts: 365.133

    Hoa Phat to Focus Resources on Dung Quat 2 Iron & Steel Complex
    
    Hoa Phat Group, a leading steel and real estate conglomerate in Vietnam, recently held its annual general meeting of shareholders on March 30th, 2023. The meeting was attended by 840 people, representing over 1,200 shareholders, holding nearly 3.9 billion shares, accounting for 66.9% of voting shares. Hoa Phat posted $6.1 billion in revenue in 2022, reducing 5% compared to 2021, and a consolidated after-tax profit of $358 million, only equal to 24% of 2021. However, the company is still proud of its business results in 2022, given the difficulties experienced in Vietnam's steel industry and the world in general.
    
    Last year, Hoa Phat focused on research and development of high-quality product lines while diversifying consumption for both local and foreign markets, with export revenue reaching more than $153 million, accounting for 22% of the group's total revenue.
    
    At the annual general meeting, many shareholders raised questions related to this year's business targets, Dung Quat 2 project, developments in the steel market trend in the near future, investment orientation in the real estate sector, household appliances, full operating time of blast furnaces, dividend payment plan, and more. Chairman Mr. Tran Dinh Long stated that Hoa Phat Group will not pay dividends this year, given the need to focus all resources on the Hoa Phat Dung Quat 2 Iron and Steel Production Complex project, with expectations to complete it in the first quarter of 2025, increasing the crude steel capacity to more than 14 million metric tons per year. According to the group's leaders, when Dung Quat 2 is completed, Hoa Phat's revenue scale will increase by $4.3 billion trillion per year.
    
    Despite the difficulties in the steel industry in 2022, Hoa Phat Group still achieved relatively good business results, thanks to the efforts of more than 30,000 employees and administration of the executive board. In 2023, the group will continue to switch to high-quality steel production, in-depth investment to produce fabricated steel, steel for screw production, post-tensioning, and strengthen investments and export of high-quality steel products. It will also regulate production according to the market situation, in line with domestic and export market signals, and focus resources on the Hoa Phat Dung Quat 2 Iron and Steel Production Complex project.
12. voda 3 april 2023 08:24

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 04 mei 2024

    • Aanbevelingen

      Ontvangen: 82389

      Gegeven: 20949

    •    Aantal posts: 365.133

    Fosun to Sell Stake in Nanjing Iron & Steel to Citic’s Xinye Steel
    
    Citic's subsidiary Xinye Steel has agreed to acquire a 55.25% stake in Nanjing Iron & Steel Group for $2.1 billion. The acquisition is part of Nanjing Iron & Steel Group's plan to buy a 60% stake in Nanjing Iron & Steel United for the same amount from Fosun International. After completion, Xinye Steel will hold the majority stake in Nanjing Iron & Steel Group, which will then own the entire equity interest in Nanjing Iron & Steel United, giving Citic non-wholly owned subsidiaries in all three companies.
    
    Nanjing Iron & Steel Group is a Chinese state-owned steel company based in Nanjing, Jiangsu Province. The company was founded in 1958 and is primarily engaged in the production and sale of iron and steel products, including hot-rolled steel, cold-rolled steel, and special steel. Nanjing Iron & Steel Group is one of China's largest steel producers, with a production capacity of around 20 million metric tons per annum. The company's products are used in a wide range of industries, including construction, transportation, energy, and machinery. Nanjing Iron & Steel Group has been actively pursuing mergers and acquisitions in recent years to expand its production capacity and improve its competitiveness in the global steel market.
    
    Xinye Steel is a steel production company based in China. The company was founded in 1970 and is headquartered in Pingdingshan, Henan province. Xinye Steel produces a wide range of steel products, including cold-rolled steel coils, hot-rolled steel coils, galvanized steel coils, and steel plates. The company operates several production lines and has a production capacity of over 10 million metric tons of steel per year. Xinye Steel has also invested heavily in research and development, with a dedicated research center focused on improving production efficiency and developing new steel products. The acquisition will strengthen Citic's competitive advantages in bar steel, wire steel, and plate steel products and increase its special steel production capacity to over 30 million metric tons per annum.
13. voda 3 april 2023 08:25

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 04 mei 2024

    • Aanbevelingen

      Ontvangen: 82389

      Gegeven: 20949

    •    Aantal posts: 365.133

    Japan Bans Exports of Steel & Aerial Vehicles to Russia
    
    The Ministry of Economy, Trade and Industry of Japan has announced that the government of Japan will introduce export restrictions on goods that help Russia strengthen its industrial base, given the international situation surrounding Ukraine. The move is aimed at contributing to international efforts for peace. The export ban on additional cargo will take effect from 7 April 2023.
    
    Japan’s government has partially revised the Export Trade Control Order to introduce additional export restrictions. The list of additional cargo subject to export bans includes steel, steel products, aluminum, boilers, machinery, and electrical equipment, among others. The ban also applies to aircraft and spacecraft, as well as their parts and accessories, such as unmanned aerial vehicles.
    
    The government of Japan has imposed sanctions on Russia before.
14. voda 3 april 2023 08:25

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 04 mei 2024

    • Aanbevelingen

      Ontvangen: 82389

      Gegeven: 20949

    •    Aantal posts: 365.133

    Venezuela Crackdown on CVG & Sidor Officials over Corruption Probe
    
    Venezuela's ongoing crackdown on corruption has intensified with the recent arrest of nine officials from state-owned metals conglomerate Corporacion Venezolana de Guayana, including executives from its subsidiary steel-maker Sidor. This follows an investigation into irregularities at CVG and Sidor launched by prosecutors on Friday, adding to previous investigations into alleged corruption at state oil company PDVSA and a government agency overseeing cryptocurrency transactions.
    
    Mr. Nestor Astudillo and Mr. Pedro Maldonado, the presidents of Sidor and CVG respectively, are among those under arrest, as well as four company vice presidents and three managers, according to Venezuela's attorney general Mr. Tarek Saab.
    
    Mr. Saab tweeted that a total of 42 people have been arrested as part of the anti-corruption investigations, although no further details have been provided. Last week, 21 people, including officials, businessmen, and a member of the National Assembly, were charged relating to losses incurred by PDVSA when tankers left the country with cargoes that had not been paid in full, according to the authorities.
    
    The government of President Mr. Nicolas Maduro has appointed an oversight board for CVG, according to the country's official gazette, which was read on state television. The crackdown on corruption is seen as a key part of Mr. Maduro's efforts to restore confidence in the country's institutions and to attract foreign investment. However, critics have accused the government of using anti-corruption measures to target political opponents and to consolidate power.
    
    Corporacion Venezolana de Guayana is a Venezuelan state-owned industrial complex that oversees a group of companies operating in the mining, steel-making, aluminum, and other heavy industries. One of the key subsidiaries of CVG is Sidor, a steel-making company that produces a range of steel products for the domestic and international markets.
    
    Sidor has an installed capacity of approximately 4.2 million metric tons of liquid steel per year. It's worth noting that in recent years, the actual production capacity of Sidor has been significantly lower than its installed capacity due to a lack of investment, maintenance, and ongoing political and economic instability in Venezuela. As of 2021, the production capacity of Sidor was reported to be around 1.5 million metric tons of liquid steel per year.
15. voda 3 april 2023 08:25

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 04 mei 2024

    • Aanbevelingen

      Ontvangen: 82389

      Gegeven: 20949

    •    Aantal posts: 365.133

    Klöckner & Co Board Recommends not to accept SWOCTEM Offer
    
    The Management Board and the Supervisory Board of Klöckner & Co have issued a joint statement, advising shareholders not to accept the public takeover offer by SWOCTEM. After conducting independent and thorough reviews of the offer document, both boards have determined that the cash offer of €9.75 per Klöckner & Co share is inadequate from a financial standpoint. This conclusion is supported by the opinions on financial adequacy obtained by Goldman Sachs and Macquarie Capital, for the Management Board and the Supervisory Board respectively.
    
    The offered premium of approximately 0.5% on the three-month average price of €9.70 per share, determined by the German Federal Financial Supervisory Authority, falls significantly below the historical median of premiums offered in takeover transactions in Germany. Moreover, the Management Board and the Supervisory Board believe that the offer price does not accurately reflect Klöckner & Co's fundamental value, which is based on its potential for growth and profitability.
    
    Despite this, the Management Board of Klöckner & Co acknowledges that long-standing Supervisory Board member Mr. Prof. Dr. E.h. Friedhelm Loh shares their long-term objectives and supports their strategy of "Klöckner & Co 2025: Leveraging Strengths."
    
    SWOCTEM GmbH intends to increase its existing shareholding in Klöckner & Co SE to above 30%, providing the Company with additional flexibility for share purchases. The bidder states that they do not intend to acquire a majority stake or change the size of the Supervisory Board, and Klöckner & Co SE shall remain listed on the stock exchange. In the event of a successful offer, a shareholding of more than 30% will allow the Management Board to execute share buybacks.
16. voda 3 april 2023 08:26

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 04 mei 2024

    • Aanbevelingen

      Ontvangen: 82389

      Gegeven: 20949

    •    Aantal posts: 365.133

    Outokumpu divests its remaining Long Products operations in Sweden
    
    Outokumpu has recently signed an agreement to divest its long products operations in Degerfors and Storfors to Cogne Acciai Speciali, an Italian company specializing in the production of long stainless steels and nickel alloys. This move comes after Outokumpu divested the majority of its Long Products business earlier this year, with its Degerfors and Storfors units left under evaluation for future options. Matti Louhija, Head of M&A at Outokumpu, expressed satisfaction in finding a responsible new owner for the remaining long products operations. He added that the divestment is a natural step for Outokumpu, aligning with their strategy to focus purely on their core business of stainless steel flat products and ferrochrome.
    
    The transaction has an enterprise value of €12 million and is expected to have a positive cash impact for Outokumpu. However, the company will record a loss of approximately €30 million based on current estimates of consideration, with the exact amount subject to the closing accounts and final accumulated translation difference.
    
    The transaction is expected to be completed in a couple of months, subject to customary closing conditions and regulatory approvals by competition authorities. The transaction will be carried out as a share sale, and Outokumpu's other operations in Degerford will remain unaffected. This divestment marks a significant step for Outokumpu as it aligns its business strategy with its core competencies.
17. voda 3 april 2023 08:26

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 04 mei 2024

    • Aanbevelingen

      Ontvangen: 82389

      Gegeven: 20949

    •    Aantal posts: 365.133

    AFV Beltrame Makes First Shipment of Chalibria Green
    
    AFV Beltrame Group, a leading steel producer based in Italy, announced that the first shipment of Chalibria rebar in coils is now on its way to a customer's site. Chalibria is the company's new carbon neutral steel, which has received certification from international organizations. The shipment marks a significant milestone for AFV Beltrame Group, as Chalibria is the result of a major investment in sustainable steel production. "We are proud to announce the first shipment of Chalibria rebar, which represents a major step forward in our commitment to sustainability. We believe that Chalibria will play a key role in the transition towards a more sustainable construction industry, and we look forward to working with our customers to promote this innovative and environmentally friendly product," said Mr. Stefano Beltrame, CEO of AFV Beltrame Group. ""
    
    The company has implemented a series of measures to reduce its carbon footprint, including the use of renewable energy sources, the optimization of production processes, and the adoption of innovative technologies.
    
    Chalibria has been designed to meet the growing demand for sustainable construction materials. The rebar is made from recycled steel and has a significantly lower carbon footprint compared to traditional steel products. The product has already received positive feedback from customers and industry experts, who have praised its high quality and environmental performance.
    
    AFV Beltrame Group is a leading producer of long steel products, with a global presence in Europe, North and South America, and Asia. The company has a long-standing commitment to sustainability and has set ambitious targets to reduce its carbon footprint and promote circular economy principles. Chalibria is a key component of the company's strategy to create value for its customers, employees, and stakeholders, while contributing to a more sustainable future.
18. voda 3 april 2023 08:27

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 04 mei 2024

    • Aanbevelingen

      Ontvangen: 82389

      Gegeven: 20949

    •    Aantal posts: 365.133

    MMK Exits Auto Metal Center JV in Tatarstan, Interfax
    
    Russian steelmaker Magnitogorsk Iron and Steel Works has withdrawn from its joint venture with Turkish component manufacturer Coskunoz, a metal service center for the automotive industry in the Alabuga Special Economic Zone in Yelabuga, Tatarstan. MMK transferred its 35% stake in SMC Alabuga LLC to its controlling shareholder, Coskunoz Alabuga LLC, making it the sole owner of the enterprise, reports Interfax.
    
    The cost of the metal center project was about $12.8 million; with MMK and Coskunoz-Alabuga investing $4.5 million in equipment and the Alabuga SEZ management company investing $8.6 million in the construction of plant premises for their subsequent leasing.
    
    The metal center specializes in producing steel blanks for automotive components, with a production capacity of up to 60,000 metric tons of steel blanks and sheets per year. The plant's construction began in 2017 and was launched in May 2018, with MMK and Coskunoz-Alabuga LLC and the management company of the Alabuga SEZ as participants.
    
    MMK declined to comment on the deal. It is unclear why the company decided to withdraw from the joint venture. However, the move is in line with MMK's plans to optimize its asset portfolio and focus on core business areas.
19. voda 3 april 2023 08:28

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 04 mei 2024

    • Aanbevelingen

      Ontvangen: 82389

      Gegeven: 20949

    •    Aantal posts: 365.133

    Green steel demand to rise exponentially: conference
    1701 Views
    
    The green steelmaking transition is an unstoppable trend that is about to embrace significant demand growth over the coming decades, said speakers at the Kallanish Asia Steel Markets 2023 conference in Ho Chi Minh City last week.
    
    Dr Sebastian Langendorf, chief executive and founder of Singapore-based Meranti Steel, expects significant demand for green steel due to considerations of increasing political pressure, carbon self-commitments, supply chain requirements and awareness of end customers.
    
    Langendorf sees global green steel demand rising from 7 million tonnes in 2021 to 41mt in 2025, and then jumping significantly to 235mt by 2040. Simultaneously, the share of low-emission steel demand versus all flat steel demand will grow from 1% to 26%. He sees the trend as a big challenge but also a huge opportunity.
    
    Meanwhile, Martin Smith, Asia business development director at Primetals, said at the event: “It [the transition to carbon neutrality] is coming, and we can’t stop it.”
    
    In terms of technology, Gaku Ito, general manager at Japan’s largest pure EAF-based steelmaker Tokyo Steel, asserted that carbon capture, utilisation and storage (CCUS) will not be effective and feasible for low-carbon steelmaking in Japan. This is because “land and other costs are too high,” he explained.
    
    Gaku Ito regards EAF technology as the first-choice route for green steelmaking, meaning prime scrap will become more demanded and therefore expensive.
    
    However, questions remain over where the vast sums of money needed for the low-carbon shift will come from. “If half of global steel demand decides to be low carbon, that would require a total of $11 trillion. Who is going to pay for that?” asked Kallanish managing editor Asia Tomas Gutierrez.
    
    Kallanish Asia
20. voda 4 april 2023 04:15

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 04 mei 2024

    • Aanbevelingen

      Ontvangen: 82389

      Gegeven: 20949

    •    Aantal posts: 365.133

    ArcelorMittal rondt inkoopprogramma eigen aandelen af
    
    Door ABM Financial News op maandag 3 april 2023
    Views: 1.979
    
    (ABM FN-Dow Jones) ArcelorMittal heeft zijn inkoopprogramma van eigen aandelen afgerond. Dit meldde de staalreus maandag.
    
    Het concern kondigde het inkoopprogramma van maximaal 1,4 miljard dollar op 29 juli 2022 aan.
    
    In totaal kocht het staalbedrijf circa 60,4 miljoen eigen aandelen in.
    
    Bron: ABM Financial News