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stahl und eisen

Science- and engineering-based trade journal

News

7/29/2014 - Rautaruukki's shareholders

SSAB has announced final result of SSAB's share exchange offer

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According to the final result of the share exchange offer by SSAB AB to the shareholders of Rautaruukki Corporation, the shares tendered in the share exchange offer represent approximately 95.1 % of all the shares and votes in Rautaruukki. The offer period in the share exchange offer expired on July 22, 2014. On July 23, 2014, SSAB announced that it will complete the share exchange offer, subject to the conditions to the completion of the share exchange offer remaining fulfilled at the time of completion. As all the conditions to the completion of the share exchange offer have been, and remain, fulfilled, SSAB will complete the share exchange offer in accordance with its terms and conditions preliminarily today, July 29, 2014.

Source: SSAB AG, Helsinki
7/29/2014 - Rating action

Moody's puts Tata Steel and Tata Steel UK on review for upgrade

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Moody's Investors Service has put Tata Steel Limited (TSL)'s corporate family rating of Ba3 and Tata Steel UK Holdings Limited (TSUKH)'s corporate family rating of B3 on review for upgrade. The other ratings under review for upgrade are TSUKH's probability of default rating of B3-PD, and the B3/LGD 3(49%) rating of TSUKH's term loan facility.

Source: Moody's Investors Service, Singapore
7/29/2014 - Acquisition of the business of Kalogeo Anlagenbau GmbH

Outotec strengthens its energy business

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Outotec has purchased the assets of Kalogeo Anlagenbau GmbH in Leobersdorf, Austria after the company became insolvent. Kalogeo has provided solutions for biomass, sludge and waste water treatment and designed, built and operated several mid-size thermal sludge treatment plants based on fluidized bed technology. The transaction will not impact Outotec's financial guidance for 2014.

Source: Outotec, Helsinki
JSPL, the flagship company of the O.P. Jindal Group, is the largest integrated stainless steel manufacturing company in India. Photo: JSPL
JSPL, the flagship company of the O.P. Jindal Group, is the largest integrated stainless steel manufacturing company in India. Photo: JSPL
7/28/2014 - Steel Plants in India to meet growing domestic demand

Jindal Steel & Power chooses GE Power Conversion to triple output

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GE’s Power Conversion business announced that Jindal Steel & Power Limited (JSPL) has chosen GE Power Conversion’s AC motors and drives to upgrade the steckel mill at its Raigarh Steel Plant, Chhattisgarh, India. The upgrade will boost production at the facility in line with JSPL’s plans to more than triple the steel-making capacity at its Raigarh plant from three million tonnes per annum (mpta) to 10mpta by 2020. The increase in production will help meet the anticipated 4.5 % rise in domestic demand for steel in India between now and 2015, even as new Prime Minister Narendra Modi makes plans for a series of ambitious, large scale infrastructure projects that will push India’s industrial base to new heights.

Source: GE, Chhattisgarh, India
7/25/2014 - Eurofer: Innovative steel products need higher energy consumption in the production phase

Enhanced energy efficiency is part of business optimization

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The European steel industry welcomes the Commission communication on energy efficiency as a contribution to climate protection, energy security and innovation in sectors which have a significant potential to further improve, such as the buildings sector which covers about 40 % of EU energy consumption. Industry has to be energy-efficient, the very fact that high energy prices in the EU are already damaging the competitiveness of globally competing sectors such as steel.

Source: Eurofer, Brussels
Using GE Power Conversion’s technology, Bokaro is well positioned to provide a strong raw material base for a variety of India’s modern engineering industries. Photo: SAIL
Using GE Power Conversion’s technology, Bokaro is well positioned to provide a strong raw material base for a variety of India’s modern engineering industries. Photo: SAIL
7/25/2014 - Bokaro Steel Plant

GE Power Conversion helps Steel Authority of India increase production capacity

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GE’s Power Conversion business announced that it will supply the Steel Authority of India Limited’s (SAIL) plant in Bokaro Steel City, India, with DC variable speed drives and automation for a cold rolling 4Hi tandem mill. The tandem mill will be used to help meet an anticipated increase of up to 4.5 % in 2015 in domestic demand for steel in India, supporting Prime Minister Narendra Modi’s ambitious plans for investment in infrastructure projects and manufacturing to help boost the Indian economy. SAIL selected GE’s Power Conversion business to provide an electrical and automation system that includes level 1 and level 2 automation, low-voltage equipment and instrumentation for the 4-stand tandem mill that is capable of rolling sheet gauges down to 0.4 mm to 2.5 mm and width from 700 mm to 1 850 mm.

Source: GE, Bokaro, India
7/25/2014 - Nucor

Results for Second Quarter and First Half of 2014 reported

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Nucor Corporation announced consolidated net earnings of $147.0 million, or $0.46 per diluted share, for the second quarter of 2014. By comparison, Nucor reported net earnings of $111.0 million, or $0.35 per diluted share, in the first quarter of 2014 and net earnings of $85.1 million, or $0.27 per diluted share, in the second quarter of 2013. Second quarter of 2014 diluted net earnings per share of $0.46 was above the guidance range of $0.35 to $0.40 per diluted share due to better than forecasted performance in the steel mills segment. In the first half of 2014, Nucor reported consolidated net earnings of $258.1 million, or $0.80 per diluted share, compared with consolidated net earnings of $169.9 million, or $0.53 per diluted share, in the first half of last year. 

Source: Nucor Corporation, Charlotte, N.C.
7/25/2014 - alacero

Latin American steel accumulates five months of minimum growth

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Between January and May 2014, the region registered a slight increase of its steel market. Crude and finished steel production grew 1 % and finished steel apparent use, 2 %, versus same period of 2013. Finished steel consumption in Latin America and the Caribbean reached 28.6 million tons during Jan/May 2014, 2 % more than the volume registered during the same period of 2013. The countries that contributed most to this moderate growth were: Mexico (which consumption grew 12 %), Colombia (+17 %) and Argentina (+7 %). Meanwhile, Venezuela, Ecuador and Chile continue to display strong drops in terms of tonnes and percentage variations.

Source: alacero, Santiago
7/24/2014 - Rautaruukki's shareholders

SSAB has announced the preliminary result of SSAB's share exchange offer

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The offer period for the share exchange offer by SSAB AB to the shareholders of Rautaruukki Corporation expired on July 22, 2014. According to the preliminary result of the share exchange offer, the shares tendered in the share exchange offer represent approximately 95.1 % of all the shares and votes in Rautaruukki. The Board of Directors of SSAB has resolved to issue a total of up to 67 000 000 new class A shares and up to 169 000 000 new class B shares as consideration in the share exchange offer to the shareholders in Rautaruukki. The final result of the share exchange offer will be confirmed and announced on or about July 29, 2014.

Source: SSAB AG, Stockholm
7/24/2014 - worldsteel

Reports on the Steel Safety Day and industry-wide safety audit

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The World Steel Association (worldsteel) announces the outcome of the industry-wide Steel Safety Day held on 28 April. worldsteel and its members commit to make the global steel safety day an annual event and to continue work together with all involved in the industry to create a safer work environment in the steel industry.

Source: worldsteel, Brussels