Steel News

Baosteel Leadership Training Center under Construction

11 January 2010 - Baosteel has started construction on its leadership development center in Changshu Municipality, Jiangsu Province. Major construction is expected to be completed in just under a year.

Posco to Utilize IT Innovations to Reshape Business

08 January 2010 - Posco distributes smartphones to its directors and executive officers, enabling them to perform multiple tasks such as send e-mails, pay expenses, check schedules, and even search for people. The company plans to add more functions in the future.

First Posco Smile Microcredit Bank Branch Opens

07 January 2010 - Posco has opened the first branch of Posco Smile Microcredit Bank to support low-income, low-credit households who can not get a loan from normal financial institutions.

Baosteel Listed in CSR Report Honor Roll

07 January 2010 - At the recent "Responsible Communication Creates Value—the 2nd International Conference on CSR Reporting in China," Baosteel Group Corp.'s CSR report 2008 was listed in the 2009 GoldenBee CSR Report Honor Roll.

Outokumpu Executive to Join Outotec

07 January 2010 - Pekka Erkkilä, the Executive Vice President - General Stainless and a member of Outokumpu Group's Executive Committee, will join the Executive Committee of Outotec on May 1, 2010, at the latest.

Hyundai Steel Starts Operation of No. 1 Blast Furnace

06 January 2010 - Hyundai Steel Co. has started operation of its first blast furnace, holding a furnace lighting ceremony at its new integrated steel mill in Dangjin, South Korea. No. 1 blast furnace has an annual capacity of 4 million tonnes.

Tata Steel Posts 49% Increase in Q3 Sales

06 January 2010 - For Q3 FY’10, Tata Steel's sales stood at 1,597,000 tonnes compared to 1,071,000 tonnes in the same period in FY’09, a 49% increase. Production of hot metal (+11%), crude steel (+15%), and saleable steel (+37%) all increased in Q3 compared to Q3 FY’09.

Posco to Invest 7 Trillion KRW in Green Growth

05 January 2010 - Posco announces plans to invest 7 trillion KRW in green growth sectors including synthetic natural gas, SMART nuclear reactors, wind power, fuel cell for power generation, and smart grid in support of its green growth vision of “Global Green Growth Leader”.

Posco Family Award Created

05 January 2010 - Posco creates and starts operation of the Posco Family Award, an extended version of the Posco Man of the Year to be awarded to Posco family employees.

SAIL Records Sales Increase in December

05 January 2010 - Steel Authority of India Ltd. achieves sales of 1.3 million tonnes in the domestic market during December, growth of 32% compared to December 2008.

Changes in SSAB’s Group Executive Committee

05 January 2010 - SSAB has implemented a new organization as of January 1, resulting in certain changes to its Group Executive Committee.

OJSC MMK Commissions Continuous Slab Casting Machine No. 6

04 January 2010 - OJSC Magnitogorsk Iron and Steel Works has commissioned Continuous Slab Casting Machine No. 6 in the oxygen-converter shop, marking a successive stage of Plate Mill 5000 complex development in order to produce plates for wide-diameter pipe production.

ThyssenKrupp VDM Superalloy Stands up to Heat, Heavy Oil in Marine Diesel Engine Valves

04 January 2010 - ThyssenKrupp VDM optimizes its high-strength superalloy Alloy 80A for use in the valves of large two-stroke marine diesel engines, where high-temperature corrosion resistance is critical.

Ruukki Studies Options for Future of Mo i Rana Plant

04 January 2010 - Ruukki plans to reorganize operations at its Mo i Rana plant in Norway, which makes shipbuilding profiles and flange profiles for windmill towers. Ruukki will study the options available, including the partial or entire closure of operations, to correct the unit's financial performance.

NLMK Raises Funds to Finance Technical Upgrade Program

04 January 2010 - Novolipetsk Steel closes a credit agreement to finance the purchase of imported equipment guaranteed by leading export credit agencies. The €524 million facility will be used to finance the purchase of equipment upon 19 commercial agreements from seven leading European engineering companies.

Fatalities at ArcelorMittal South Africa’s Newcastle Works

04 January 2010 - Four employees of ArcelorMittal South Africa lost their lives following an accident at its Newcastle plant in KwaZulu Natal on December 30. A fifth employee was hospitalized in stable condition. The employees were working on Basic Oxygen Furnace No. 3 when they collapsed as a result of a suspected gas leak.

Linde to Construct Air Separation Unit at Russian Steel Plant

30 December 2009 - Linde has closed a long-term agreement with steel company ZAO Kaluga Research and Production Electrometallurgical Plant (KNPEMZ) to supply the company with industrial gases at its production site in Vorsino, which is 80 km southwest of Moscow.

Baosteel Adjusts Magnetic Material Business

30 December 2009 - Baosteel Development Co. makes internal adjustments to its magnetic material business sector to pursue greater development of Baosteel brand magnetic materials. Shanghai Baosteel Tiantong Magnetic Materials Co., Ltd. is renamed Shanghai Baosteel Magnetic Materials Co., Ltd., due to Zhejiang Tiantong’s decision to withdraw its share.

ArcelorMittal Supports Communities through Volunteer Work

30 December 2009 - ArcelorMittal held its second annual International Volunteer Work Day, organized by the ArcelorMittal Foundation, in early December. The event is held in the same week as the United Nations' International Volunteer Day.

Posco Chairman Awarded Jeong-Do Management Award

30 December 2009 - Posco Chairman Joon-yang Chung receives the Best CEO Award at the 2009 Korea Jeong-Do Management Awards sponsored by Korea Economy Daily and hosted by the Korea Business Institute.