Steel News

SMS Group Reports Record Business Year

05 May 2008 - SMS group describes 2007 as a record business year, with pre-tax results of EUR 176 million that were double the previous year’s figure of EUR 85 million.

Iron Ore Company of Canada Settles Prices with ThyssenKrupp

02 May 2008 - The Iron Ore Company of Canada reaches agreement with ThyssenKrupp Steel AG on prices for IOC Carol Lake iron pellets and concentrates for 2008.

Sidor Shares Declared of Venezuelan Public and Social Interest

01 May 2008 - The Republic of Venezuela’s National Assembly passes a resolution declaring that the shares and assets of Ternium SA's majority-owned subsidiary Sidor are of public and social interest.

Esmark Agrees to Merge with Essar Steel

01 May 2008 - Esmark agrees to the material terms of a proposed tender offer and merger with Essar Steel Holdings Limited for a cash purchase price of $17.00 per share.

ArcelorMittal, Vale Sign New Long-Term Iron Ore Contracts

30 April 2008 - ArcelorMittal signs new long-term contracts with Vale to supply approximately 480 million tonnes of iron ore and pellets to ArcelorMittal plants in Europe, Africa, and the Americas over the next ten years.

Linde Group to Supply Gases for ArcelorMittal’s Romanian Operations

30 April 2008 - The Linde Group will construct a new air separation unit as part of its long-term contract for the supply of industrial gases for ArcelorMittal’s Romanian operations.

Highveld Agrees to Disposal of Vanadium Assets

29 April 2008 - Evraz Group’s Highveld Steel and Vanadium Corp. enters definitive agreements with Vanchem Vanadium Products (Proprietary) Ltd. on Highveld’s disposal of certain vertically integrated vanadium assets.

Three Major Japan Steelmakers Log Net Profit Drops in FY 2007

29 April 2008 - Under the weight of rising material costs, three of Japan's four major steelmakers post reductions in group net profits in fiscal 2007, while industry leader Nippon Steel posts a 1.1% rise in net profit.

ThyssenKrupp Steel Celebrates GM Recognition as a 2007 Supplier of the Year

29 April 2008 - ThyssenKrupp Steel AG receives the General Motors 2007 Supplier of the Year award for its significant contributions to GM’s global product and performance achievements.

Outokumpu to Acquire Italian Stainless Steel Distributor SoGePar

28 April 2008 - Outokumpu will acquire the SoGePar Group, an Italian distributor of stainless steel, for EUR 195 million in cash and the assumption of EUR 140 million in company debt.

NLMK Approves Key Parameters of 3rd Phase of its Upgrade Program

25 April 2008 - NLMK announces Strategic Planning Committee approval of key parameters for Phase 3 of the Group’s Technical Upgrading Programme, which runs through 2015 and features expansions at nearly all of the company’s production sites.

ArcelorMittal Enters Off-Take Agreement with Coal of Africa Limited

24 April 2008 - ArcelorMittal reaches an off-take agreement with Coal of Africa Limited that includes a minimum of 2.5 million tonnes per annum of coking coal from the company’s two mines in the Limpopo Province of South Africa.

IISI Reports World Steel Production for March 2008

24 April 2008 - World crude steel production for the 67 countries reporting to IISI stood at an estimated 119.5 million tonnes in March 2008 — 5.8% higher than for the same month of 2007, and 11.0% higher than the previous month, February 2008.

SMS Demag to Supply Melting and Casting Plant for Maghreb Steel

23 April 2008 - SMS Demag will install an electric X-Melt steel plant and a single-strand X-Cast continuous slab caster to feed the twin-strand Steckel mill it is constructing for Maghreb Steel, Morocco.

Bricmont to Supply Reheat Furnace for Tamco Steel

23 April 2008 - Bricmont is contracted to supply a new pusher reheat furnace for Tamco Steel.

SMS Demag to Supply X-Roll Cold Mill for ThyssenKrupp AST

22 April 2008 - SMS Demag will supply a new 20-roll cold rolling mill to ThyssenKrupp Acciai Speciali in Terni, Italy, for the production of stainless steel strip; ABB will supply the electrical equipment.

Stahl Gerafingen Restarts Siemens-Upgraded Finger-Shaft EAF

21 April 2008 - Stahl Gerafingen restarts their finger-shaft electric arc furnace following an extensive upgrade by Siemens Metals Technologies to increase productivity and reduce emissions.

BE Group AB Granted Regulatory Approval for Thin Plate JV with ArcelorMittal

18 April 2008 - The European Commission clears BE Group’s acquisition of 50% of ArcelorMittal SSC AB, taking the two companies one step closer to formation of their proposed joint venture for processing and sales of thin plate in Sweden.

Ternium, Venezuelan Government Plan for Sidor Nationalization Process

18 April 2008 - Following confirmation of the Venezuelan government's decision to nationalize Sidor, Ternium SA has announced that Ternium, Sidor and the Venezuelan government have entered into an agreement for the creation of a transition committee.

Tenova Pyromet to Supply Furnace for Elkem Solar

17 April 2008 - Tenova Pyromet will supply a 3.5-MVA furnace featuring its Maxicool intensive cooling system for Elkem Solar.