Steel News

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.

Parsytec to Supply Surface Inspection Systems for Anshan

26 October 2007 - Parsytec AG will install surface inspection systems to inspect silicon steel processed on two continuous annealing lines at Anshan Iron & Steel’s new silicon plant in Angang.

Outokumpu Details EUR 240 Million of Investments in Stainless Capacity

24 October 2007 - Outokumpu has announced it will invest an additional EUR 240 million over the next five years to expand quarto plate capacity in Sweden and the U.S., and to expand the service center offering in Germany.

Danieli to Upgrade Four Riva Rolling Mills

23 October 2007 - Danieli Morgårdshammar will upgrade four of Riva Group’s rolling mills with the installation of its ESS compact cantilever oil-film-bearing stands.

Siemens to Modernize Drives for Salzgitter Flachstahl Hot Rolling Mill

23 October 2007 - Salzgitter Flachstahl awards a contract to the Siemens Industrial Solutions and Services Group to supply new main drives and the associated automatic control technology for the company’s hot strip mill, with installation scheduled to take place in five stages.

Mechel Subsidiary Recertified Following Railway Manufacturing Audit

23 October 2007 - Specialists of the Register of Certification on the Federal Railway Transport extend the term of Mechel OAO’s certification for manufacturing rolling stock axles at its Urals Stampings Plant subsidiary.

ArcelorMittal and Borusan to Build New Hot Strip Mill in Turkey

23 October 2007 - ArcelorMittal signs a Memorandum of Understanding with Borusan to form a 50/50 joint venture partnership to construct a new hot strip mill in Gemlik, Turkey.