Steel News

Baosteel Enters Cooperation Contract with Parsytec

09 November 2007 - Parsytec AG will install an initial espresso SI surface inspection system at a Shanghai Baosteel pickling line; the agreement includes an option for 9 additional surface inspection systems.

Posco Further Expands Asia Fellowship

09 November 2007 - Posco’s TJ Park Foundation confers fellowship certificates on 59 Asian students from 11 countries that were selected for scholarship in Korea.

Siemens and CRM Enter Agreement for Mulpic Heavy-Plate Cooling Systems

08 November 2007 - Siemens VAI Metals Technologies UK and the Centre de Recherches Metallurgiques sign exclusive Technology License Agreement for the supply and development of “Mulpic” systems.

SMS Demag to Supply X-Melt Ladle Furnace, Stirring Station for Corus Staal

08 November 2007 - SMS Demag will supply an X-Melt 330-tonne twin ladle furnace and stirring station for Corus Staal BV’s IJmuiden plant in North Holland.

ArcelorMittal to Acquire 28% Interest in China Oriental Group

08 November 2007 - ArcelorMittal enters agreement to acquire 820,119,151 ordinary shares—an approximately 28% equity interest—in China Oriental Group for a total consideration of US$ 647 million.

China Precision Steel Closes $47.9 Million Financing

07 November 2007 - China Precision Steel completes sale of an aggregate of 7,100,000 shares of its common stock and an aggregate of 1,420,000 warrants to purchase its common stock, for gross proceeds of $47,925,000.

Mechel Announces Syndication of Acquisition Refinancing Package

07 November 2007 - Mechel OAO arranges an acquisition refinancing package for its acquisition of the issued share capital of Yakutugol OJSHC, Elgaugol OAO, and the real estate complex of a railway and road from the Zeysk Railway Station to the Elga coal deposits.

Realignment to Support Next Phase of Outokumpu Strategy Development

06 November 2007 - Outokumpu is aligning its organization into an integrated model emphasizing its one-company approach toward customers as the group enters the next phase in its strategy development targeting a more stable and profitable business model.

Shareholders Approve Second-Step Merger of ArcelorMittal into Arcelor

06 November 2007 - Shareholders of ArcelorMittal and Arcelor approve the merger of ArcelorMittal into Arcelor during Extraordinary General Meetings held Monday, Nov. 5.

MultiServ Division to Support New Ningbo Iron & Steel Plant

05 November 2007 - Harsco’s MultiServ mill services division signs a 12-year agreement to support Ningbo Iron & Steel, a four-way joint venture of three Chinese steel producers and a Chinese investment firm.

Gibraltar Reports 3rd Quarter Sales and Earnings

02 November 2007 - Excluding one-time charges related to the sale of Hubbell Steel and Solar Michigan, Gibraltar Industries reports $12.8 million income from continuing operations on $343 million in sales from continuing operations for the third quarter, and $35.8 million income from continuing operations on $1 billion in sales from continuing operations for the first nine months.

Nippon Steel & Sumikin Stainless to Implement Broner System

01 November 2007 - Nippon Steel & Sumikin Stainless Steel will implement a Broner Metals Solutions Production Planning system at its Yawata plant in Japan.

Siemens to Provide Blast Furnace for Tata Steel Greenfield Facility

01 November 2007 - Tata Steel Ltd has placed an order with Metals Technologies (MT), a division of the Siemens Group Industrial Solutions and Services (I&S), for the supply of engineering and key equipment for a new blast furnace. The parties agreed not to disclose the contract price.

Siemens to Equip Bar Mills in United Arab Emirates, Russia

31 October 2007 - Siemens Metals Technologies will supply mechanical equipment, electrical equipment, and automation systems for a new bar mill in the United Arab Emirates, and a bar mill upgrade in Russia. The total order value of both projects is approximately 47 million Euros.

Tornio Works Ramps up Production after Strike Ends

31 October 2007 - Outokumpu ramps up production at Tornio Works following conclusion of the Salaried Employees Union strike.

SSAB Reports Strong Growth, Complete Integration of Ipsco

30 October 2007 - SSAB reported strong third-quarter results, including profit before depreciation (EBITDA) and non-recurring items of SEK 2,956 (1,289) million.. Sales amounted to SEK 13,686 (7,020) million, of which SEK 5,838 million is attributable to the acquisition of the North American steel company, Ipsco.

Outotec to Deliver Two Sinter Plants for SAIL

29 October 2007 - Outotec will design and deliver two iron ore sinter plants capable of producing 3.8 million tonnes of iron sinter per year for Steel Authority of India.

ArcelorMittal Announces Acquisition of Carminati Distribuzione

29 October 2007 - ArcelorMittal will acquire a 70% stake in Carminati Distribuzione Srl, one of the leading steel distributors in Northern Italy.

Posco, Siemens Celebrate Six Months Operation of First Finex Plant

29 October 2007 - Posco has tapped more than 650,000 tonnes of hot metal during the first six months of operation of the first commercial Finex plant, jointly developed with Siemens Metals Technologies to operate with low-cost iron ore fines and lower environmental emissions.

ArcelorMittal Updates Status of Share Buyback Program

26 October 2007 - ArcelorMittal announces that it has repurchased 1,390,000 shares under the share buy-back program that was announced on September 13, 2007.