Steel News

ArcelorMittal Responds to French Competition Council Announcement

17 December 2008 - ArcelorMittal responds to the French Competition Authority’s imposition of a €301.78 million fine on the company’s French subsidiaries that are active in steel distribution.

SMS Demag and IMS Messsysteme Found SURCON GmbH

17 December 2008 - SMS Demag and IMS Messsysteme form a joint venture, SURCON GmbH, which will develop, produce and market slab inspection systems based on 3D and 2D measuring methods.

ArcelorMittal, European Works Council to Strengthen Dialogue

17 December 2008 - ArcelorMittal’s Group Management Board and the Secretariat of the European Works Council agree to strengthen the social dialogue regarding the company’s SG&A Voluntary Separation programs and other local productivity plans.

Evraz Signs $800 Million Loan with Vnesheconombank

16 December 2008 - Evraz Group signs a US$800 million loan with Russia's State Corporation Bank for Development and Foreign Economic Affairs.

SMS Demag to Supply X-Cast Slab Caster for Rourkela Steel

16 December 2008 - SMS Demag will supply an X-Cast slab caster for Rourkela Steel Plant’s Rourkela facility, located in the state of Orissa.

Danieli Wean United to Provide New Skinpass Facility for Usiminas Cosipa

16 December 2008 - Danieli Wean United will supply a new Danieli skinpass mill and coil dividing line for Usiminas Cosipa’s No. 2 Hot Strip Mill Plant in Cubatão, São Paulo.

ArcelorMittal Reduces Stake in Dillinger Hütte

16 December 2008 - ArcelorMittal will sell off a portion of its shares in Dillinger Hütte, reducing its economic and voting interest in the company from 51.25% to 33.4%.

State of Finland Changes Holding in Outokumpu Oyj

15 December 2008 - The State of Finland transfers its holding in Outokumpu Oyj to its wholly-owned company Solidium Oy.

Finnish State Transfers Balance of Shareholding in Rautaruukki to Solidium Oy

15 December 2008 - The Finnish State transfers all its shares in Rautaruukki to Solidium Oy, so that it no longer has any shareholding in Rautaruukki Corp.

MMK Reports 3rd Quarter, Nine-Month Results

12 December 2008 - Magnitogorsk Iron and Steel Works reports net income of US$ 667 million on revenues of US$ 3.529 billion for the third quarter and net income of US$ 1.483 billion on revenues of US$ 9.182 billion for the nine months ended September 30, 2008.

ArcelorMittal’s Juiz de Fora Facility Earns Environmental Management Award

12 December 2008 - ArcelorMittal Juiz de Fora, in Brazil, recently received the Mineiro Award in recognition of its excellence in environmental management.

Siemens VAI to Install Dedusting for New Novolipetsk LD Converter

12 December 2008 - Siemens VAI Metals Technologies will install dedusting systems and auxiliary equipment for a new LD converter in NLMK’s Steel Works No. 2.

Corus in Discussions with UK Unions

12 December 2008 - Corus takes an inclusive approach to the financial crisis by actively discussing options with employees and their representatives in the UK.

Ruukki to Acquire Lithuanian Steel Frame Company

11 December 2008 - Rautaruukki signs agreement to acquire the entire share capital of Lithuanian steel constructor Gensina from its private owners.

ThyssenKrupp Honored for Outstanding Corporate Citizenship

11 December 2008 - ThyssenKrupp AG wins a corporate citizenship award for its Ideas Park and its associated “Discovering future technology” initiative in this year’s “Freedom and Responsibility” initiative competition.

Rio Tinto to Reduce Net Debt by $10 Billion Through 2009

11 December 2008 - Rio Tinto announces a detailed package of initiatives aimed at preserving value for shareholders by conserving cash flow and reducing levels of debt.

Conros Group to Add Two ERW Pipe Mills in 2009

11 December 2008 - The Conros Group is adding two new ERW pipe mills for the manufacture of larger diameter pipe and API Line Pipe as well as square and rectangular hollow structural sections.

TKS Rasselstein Wins Packaging Award

09 December 2008 - ThyssenKrupp Steel subsidiary Rasselstein and Soudronic AG of Switzerland jointly win the 31st German Packaging Award for a newly developed food can production line that achieves 30% higher productivity than conventional machines.

SSAB to Reduce Costs, Personnel

09 December 2008 - SSAB announces plans to reduce its workforce by 1300 as part of a cost savings program that is estimated to reduce operating costs by at least SEK 1 billion per year.

Despite Downturn, SMS Group Reports Strong Finish for 2008

09 December 2008 - The SMS group reports that it is expecting a slight increase in order intake for the current year 2008, to around EUR 5.4 billion as compared to EUR 5.15 billion in the previous year.