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voda 26 juli 2019 12:51

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'ArcelorMittal boekt lager resultaat'

Gepubliceerd op 26 jul 2019 om 12:43 | Views: 143

ArcelorMittal 12:33
15,32 -0,08 (-0,53%)

AMSTERDAM (AFN) - Staalconcern ArcelorMittal heeft naar verwachting in het tweede kwartaal een lager bedrijfsresultaat behaald dan in de voorgaande periode. Dat blijkt uit een consensus van analistenschattingen die het bedrijf op de eigen website heeft geplaatst. De resultaten komen donderdag voorbeurs.

De consensus voor het bedrijfsresultaat (ebitda), de belangrijkste winstgraadmeter bij ArcelorMittal, ligt op ruim 1,5 miljard dollar. In het eerste kwartaal was dit bijna 1,7 miljard dollar. De grootste staalproducent ter wereld had eerder dit jaar al gezegd last te hebben van de zwakte op de staalmarkt en concurrentie van goedkoop buitenlands staal op de Europese markt. Ook kampt het in Amsterdam genoteerde bedrijf met hogere grondstofkosten.

Volgens een analistenconsensus opgesteld door persbureau Bloomberg zou de omzet uitkomen op 19 miljard dollar. In het eerste kwartaal was dit bijna 19,2 miljard dollar.

Overnamestrijd

Naast de cijfers zal de aandacht van beleggers ook uitgaan naar geluiden over de staat van de wereldwijde staalmarkten. Onlangs kondigde ArcelorMittal nog aan de prijzen voor plat staal in de Verenigde Staten opnieuw te verhogen, terwijl in mei werd gezegd dat het mes wordt gezet in de Europese staalproductie door de tanende vraag en dumping van goedkoop staal uit het buitenland. ArcelorMittal heeft geklaagd dat de Europese Unie te weinig doet op het gebied van handelsbescherming van de staalsector.

Verder zal worden gelet op opmerkingen rond de slepende overnamestrijd om het Indiase Essar Steel. De overname werd recent tijdelijk gepauzeerd door het Indiase hooggerechtshof vanwege een conflict met schuldeisers van Essar. De strijd rond Essar sleept zich al ruim een jaar voort.

voda 26 juli 2019 15:03

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Wereldwijd meer staal geproduceerd

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal
15,202 -0,204 -1,32 % Euronext Amsterdam
Bekaert
23,90 -0,78 -3,16 % Euronext Brussel

(ABM FN) De mondiale staalproductie is in juni in een lager tempo gestegen. Dit bleek vrijdag uit cijfers van brancheorganisatie World Steel Association.

In totaal maakten de 64 staalproducerende landen in juni van dit jaar 159,0 miljoen ton staal, een stijging van 4,6 procent op jaarbasis. In mei ging het om een stijging van 5,4 procent.

In China, wereldwijd met afstand de grootste fabrikant van staal, steeg de productie in juni met 10,0 procent tot 87,5 miljoen ton. De Japanse productie daalde steeg met 0,4 procent tot 8,8 miljoen ton.

De Verenigde Staten produceerden 3,1 procent meer staal dan een jaar eerder met 7,3 miljoen ton.

Duitsland zag de productie daarentegen met 5,8 procent dalen, terwijl Frankrijk 3,4 procent meer produceerde.

Door: ABM Financial News.
pers@abmfn.be
Redactie: +32(0)78 486 481

© Copyright ABM Financial News B.V. All rights reserved.

voda 29 juli 2019 15:12

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Beursblik: winst Aperam flink omhoog

FONDS KOERS VERSCHIL VERSCHIL % BEURS
Aperam
23,19 -0,14 -0,60 % Euronext Amsterdam

(ABM FN-Dow Jones) Aperam heeft in het tweede kwartaal, conform de eigen verwachting, vermoedelijk meer winst geboekt. Dit voorzien analisten van Jefferies.

Jefferies rekent op een aangepaste EBITDA van 105 miljoen euro. Daarmee zou de winstgevendheid ten opzichte van het eerste kwartaal met 30 procent zijn toegenomen, mede dankzij kalendereffecten. Jefferies zit met deze raming 3 procent boven de consensus van 102 miljoen euro.

Zelf zei Aperam bij de update over het eerste kwartaal al te rekenen op een stijging van de EBITDA. De nettoschuldpositie blijft naar verwachting op een laag niveau.

De blootstelling van Aperam aan een veerkrachtigere Braziliaanse markt zorgt volgens Jefferies voor een zekere mate van isolatie tegen de tegenwind op de Europese markt voor roestvast staal.

Voor heel 2019 rekent de consensus op een EBITDA van 393 miljoen euro. Een cijfer dat exact overeenkomt met de raming van Jefferies.

Hoewel volgens Jefferies het ergste achter de rug is, zal er deze zomer geen scherp herstel komen.

Aperam opent woensdag de boeken.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.

voda 29 juli 2019 16:14

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Danieli Erects Prefabricated Hot-Blast Stove Shell at SSAB

Last week, the vessel shell for the new hot-blast stove #47 for blast furnace #4 at SSAB Oxelösund, Sweden, was erected. The entire vessel shell was fully prefabricated in an off-site workshop and erected in its operating position in a single lift. This was the first time that such a manufacturing solution was applied to a blast stove. The erection was smooth thanks careful planning and consideration with SSAB about ground and underground infrastructure in the blast furnace area.

This effort pays off substantially: the execution of all the welding, coating and inspections in the off-site workshop minimizes on-site work and under more difficult circumstances and plant regulations, saving a considerable number of work hours.

This strategy applied by Danieli Corus brings about major efficiencies in terms of supervision, scaffolding and logistics.

The installation of hot blast stove #47 now will be completed at maximum efficiency.

Source : Strategic Research Institute

voda 29 juli 2019 16:20

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Tenova Contracted for 14th EAF Consteel Evolution in China

Techint Group company Tenova was recently awarded an Electric Arc Furnace Consteel® Evolution by Sichuan Guanghan Desheng Iron & Steel Co LTD in Sichuan Province, China. This contract represents the 14th state-of-the-art EAF Consteel® Evolution project in China, in the last eighteen months. The shift from BF-BOF (integral steelmaking) plants towards EAF technology, sustained by the reforms of the Chinese government, has led to the demand for advanced equipment and technologies that increase production and provide environmentally friendly solutions.

Tenova EAF Consteel® Evolution offers high quality standards as well as a more environmentally friendly approach to production compared to traditional steelmaking methods. With more than seventy-five references worldwide, Tenova EAF Consteel® is considered the best available proven technology in terms of balance/mix between innovation, reliability and sustainability. Safety and increased productivity are enhanced by tailor made solutions in addition to Tenova standard technologies. Chinese steel makers are paying more and more attention to these topics in order to stabilizing productivity and quality.

Source : Strategic Research Institute

voda 29 juli 2019 16:21

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SAB to Acquire Abraservice

SSAB has entered into an agreement to acquire Abraservice Holding, which provides wear parts and complete solutions in quenched and tempered steels (Q&T). Abraservice is currently part of the French-owned Jacquet Metal Service Group. Abraservice had net sales of around SEK 800 million in 2018. The acquisition supports SSAB’s strategic target of global leadership in Q&T and advanced high-strength steels as well as providing leading value-added services. Subject to approval of the relevant regulatory authorities, the transaction is expected to close in the second half of 2019.

The acquisition of Abraservice provides SSAB with the unique opportunity to extend the Q&T offering further in the industrial value chain allowing our customers and end-users, including our brand program members, to rely on additional services, parts and complementary products. It will increase SSAB’s shipments through the profitable service channel, where demand is more stable over the business cycle compared to shipments to OEMs.

Abraservice has approximately 200 employees, working at 10 processing centers and 12 sales offices across 11 European countries. The largest processing centers are in France, Germany and Italy.

Abraservice will continue to operate as an independent unit within SSAB Services, as part of SSAB Special Steels, and remain under its own name. The company will benefit from SSAB support and expertise, extended product range and global geographical coverage to expand its strong market position in distribution and fabrication of parts in Europe and beyond.

SSAB Services is a business unit within SSAB Special Steels. The unit develops the Hardox Wearparts network and facilitates the use of high-strength steels by further promoting the SSAB Shape concept. Hardox Wearparts is a network of companies for the products of wear parts and just-in-time repair services to end-users in the local aftermarket in the mining, quarrying, recycling and construction sectors. The network is represented across more than 90 countries and consists of over 500 companies, 16 of which SSAB has an ownership interest in.

Source : Strategic Research Institute

voda 29 juli 2019 16:23

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JSW Steel Announced Q1 Result

JSW Steel Limited reported its results for the First Quarter ended 30th June, 2019. JSW said “Domestic steel demand during the quarter was impacted by weaker activity levels - driven by a softer public investment spend on account of general elections; a general lack of credit availability across the economy, especially for the small and mid-size businesses; and a weaker sentiment as reflected in slow automotive and consumer durables momentum. This subdued steel demand led to lower sales volume and accumulation of inventory across the industry. Hence, the Company strategically focused on exports during the quarter, which increased by 34% YoY to 0.62 million tonnes and exports accounted for 17% of total shipments. Overall Consolidated Sales volumes stood at 3.66 million tonnes, a decline of 3% YoY.”

Key highlights for IQ FY2020:
Standalone Performance:
1. Crude Steel production: 4.24 million tonnes, up by 3% YoY
2. Saleable Steel sales: 3.75 million tonnes, down by 2% YoY
3. Revenue from operations: INR 17,499 crores,
4. Operating EBITDA: INR 3,726 crores,

Consolidated Performance:
1. Revenue from operations: INR 19,812 crores,
2. Operating EBITDA: INR 3,716 crores,
3. Net profit after tax: INR 1,008 crores
4. Net Debt to Equity : 1.35x and Net Debt to EBITDA : 2.72x

Voor cijfers, zie pdf.

The Company focused on the following key cost savings initiatives to partially offset the impact of the lower realization:
• Increase in PCI (Pulverised Coal Injection) to reduce fuel consumption in the blast furnaces
• Strategically reduced imports of iron ore; higher supplies from captive iron ore mines; and use of pipe conveyer for iron ore movement at Vijayanagar
• Substituting external purchases of coke by ramping up the new captive coke oven batteries at Dolvi

Further, the Company was able to reduce its conversion costs (power and fuel costs, stores and spares and other manufacturing expenses) due to subdued fuel prices and lower prices of electrodes and refractories. The operating EBITDA for the quarter declined by 23% YoY to INR 3,726 crores primarily due to lower sales volumes, however, EBITDA margin stood at a healthy 21.3%. The company reported net profit after tax of INR 1,423 crores for the quarter.

JSW Steel Coated Products:
During the quarter, JSW Steel Coated Products registered a production volume (Galvanised/Galvalume products) of 0.43 million tons and sales volume of 0.45 million tonnes. Revenue from operations and Operating EBITDA for the quarter stood at INR 2,990 crores and INR 172 crores respectively. It reported a Net Profit after Tax of INR 70 crores for the quarter.

US Plate and Pipe Mill:
The US based Plate and Pipe Mill facility produced 83,516 net tonnes of Plates and 23,093 net tonnes of Pipes, reporting a capacity utilization of 36% and 17%, respectively, during the quarter. Sales volumes for the quarter stood at 57,032 net tonnes of Plates and 23,195 net tonnes of Pipes. It reported an EBITDA of $2.00 million for the quarter.

JSW Steel USA Ohio :
The US based HR coil manufacturing facility produced 80,037 net tonnes of HRC during the quarter. Sales volumes for the quarter stood at 71,362 net tonnes. It reported an EBITDA loss of USD 36.12 million for the quarter which includes an inventory write-down of USD 18.95 million.

JSW Steel Italy (Aferpi) :
The Italy based Rolled long products manufacturing facility produced 154,486 tonnes and Sold 154,764 tonnes during the quarter. It reported an EBITDA loss of 4.16 million Euros for the quarter.

Projects and Capex update:
All key projects, viz. expansion of crude steel capacity at Dolvi works from 5 million tonne per annum to 10 million tonne per annum, capacity expansion of CRM-1 complex at Vijayanagar works, modernization-cum-capacityenhancement at downstream facilities of JSW Steel Coated Products and strategic cost savings projects are progressing satisfactorily for commissioning as per schedule.

The Company is implementing a cumulative capex spend of INR 48,715 Crores over FY2018 -FY2021. The actual cash outflow for Q1 FY2020 is INR 2,819 crores, which is in line with the cash outflow plan of INR 15,708 crores, for FY 2020.

Source : Strategic Research Institute

Bijlage:

voda 29 juli 2019 16:31

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RINL Vizag Steel Plant Produces 430mm Rounds

RINL-Visakhapatnam steel plant achieved yet another significant mile stone in steel making by casting 430 mm Rounds from Caster 4 in SMS-2, built at a cost of around INR 200 crores, last week for the first time in India. Mr PK Rath CMD RINL commanded SMS-2 collective, particularly the Projects and Works division and the agencies involved for successfully producing the exclusive product. He attributed the success to the great commitment and hardwork of vizag steel collective. He mentioned that RINL is always in forefront in adapting new technologies in steel making process and widely known as a quality steel maker.

The new caster is the prime source of raw material for the upcoming forged wheel plant at Rae Bareli in UP, which is scheduled to be commissioned during Sept 2019. The Rounds can be used in Seamless pipe, precious forging and wheel application etc.

The caster is always equipped with state of the art Autopower Feeders, Auto Cutter, Duburrer, Automatic strand wise marking from SMS Concast. The Caster also has facility for slow cooling incase of critical grades. The auxiliary and other balancing facilities in SMS-2 were also commissioned.

Source : Strategic Research Institute

voda 29 juli 2019 16:31

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Timely Availability of Credit will be Key to Regain Momentum - JSW Steel

JSW Steel while announcing Q1 results said “The IMF revised its CY 2019 world GDP growth forecast to 3.2% (from 3.3% earlier) on the back of sluggish economic indicators over the last 3 months. After a strong growth in CY2018 and despite tight labor markets, the US growth outlook has softened as reflected by key economic indicators. The Fed's recent commentary and dovish stance signals possible interest rate cuts in the near future, which bode well for the outlook for the US economy. Euro area growth continues to remain weak given contraction in industrial growth, subdued private consumption and trade / political uncertainties. Japan is facing headwinds from external trade weakness and softening domestic consumption. Chinese growth remained stable during the quarter. Calibrated fiscal and monetary policy measures are likely to support growth. Overall, ongoing trade tensions and heightened geopolitical tensions contribute to elevated risks. On the other hand, a possible resolution of the on-going trade tensions and accommodative central bank policy measures should lead to global growth recovery.”

It said Global steel spreads further softened during the quarter, mainly driven by a moderation in demand and steel pricing, and elevated raw material costs, especially the sea-borne iron ore markets due to supply disruptions. A disciplined supply response from steel mills along with an increase in iron ore supply should be supportive for steel spreads in the second half of CY2019.”

It said “India continues to remain a bright spot in the global steel context, with the highest growth rate in steel consumption among major steel consuming markets. This, admittedly, has also made India a magnet to attract higher imports from steel surplus economies, especially from the FTA countries given nil duty at the time of imports. Currently, 66% of steel imports into India originate from the FTA countries, which are causing an injury to the domestic industry necessitating effective remedial measures.”

It concluded “Indian economic activities during the quarter were underpinned by a general lack of credit availability, resulting in a muted business sentiment across various consuming sectors. Gross Fixed Capital formation has slowed down, but structurally it is likely to expand and gain momentum given the government's thrust on building infrastructure through higher public spending. Weaker automotive sales volumes and consumer durables sales in recent months is a matter of concern. The government's announced outlays in the Union Budget are supportive for the underlying consumer and rural demand. Higher government spends is likely to spur investment demand. Focused measures to ensure timely availability of credit will be key to regain the momentum in the business sentiment and fuel economic growth.”

Source : Strategic Research Institute

voda 29 juli 2019 16:32

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NLMK Announced Q2 2019 Consolidated Financial Results

NLMK Group a vertically integrated steel company, has published its Q2 2019 financial results. NLMK Group CFO Shamil Kurmashov said that “Q2 2019 saw the launch of overhauls at NLMK Lipetsk’s blast furnace and basic oxygen furnace operations. These projects are key in our Strategy 2022, and will enable us to grow our steel output by 1 million tonnes by 2021 to 14.2 million tonnes per year. Despite the 7% QoQ decrease in steel shipments driven mainly by overhauls at NLMK Lipetsk, the company’s revenue was down only 3% QoQ thanks to our flexible business model and proactive sales portfolio management. The seasonally strong demand growth in the Russian market served as an additional factor. EBITDA grew by 6% QoQ, driven by product mix improvements and growth of average sales prices in the Russian market. Solid financial performance was also supported by 100% self-sufficiency in iron ore amid high prices for this type of raw material. Additionally, overall EBITDA gains from operational efficiency projects stood at USD 72 million, including USD 53 million in Q2 2019.”

Q2 2019 key highlights:

Year on year, revenue decreased by 10%, due to lower sales volumes (-3% yoy) as a result of overhauls at NLMK Lipetsk blast furnace and basic oxygen furnace operations, and lower sales prices.

Group revenue decreased by 3% QoQ to USD 2.8 billion. The decrease in output was partially offset by higher sales prices and sales mix improvements.

EBITDA grew by 6% QoQ (-20% YoY) to USD 735 million, driven by the increase in the share of HVA products in total sales and by wider price spreads to raw materials. EBITDA margin increased by 2 p.p. QoQ to 26%.

Free cash flow totalled USD 258 million in Q2 2019. The QoQ trend was associated with the Q1 2019 high base effect driven by the sale of stocks accumulated at the end of 2018.

Source : Strategic Research Institute

voda 29 juli 2019 16:33

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EVRAZ Priced RUB 20 Billion Bond Issue

EVRAZ plc announced that it has priced a 5 year 20 billion rouble bond (approx. USD 317 million) at a coupon rate of 7.95% per annum. The bonds are issued by EVRAZ's subsidiary, OOO EvrazHolding Finance, and guaranteed by EVRAZ plc. The book was closed on 25 July 2019. The settlement is expected to be completed on 5 August 2019.

Proceeds from the issue will be used to refinance the EVRAZ's existing debt (thus not increasing the total debt level) and will help to lower the average weighted cost of debt and extend maturities.

Sberbank CIB, VTB Capital and Alfa-Bank are acting as Joint Lead Managers.

Source : Strategic Research Institute

voda 29 juli 2019 16:43

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ThyssenKrupp Expanding in Hungary

ThyssenKrupp is building an engine and electric motor parts plant in Hungary. Construction of a new factory in Pecs in the southwest of the country starts in September at a cost of about EUR 50 million. The site will make valve train parts and electric motor components. Start of production is planned for the end of 2020. The new plant will create around 200 new jobs in the coming years.

Mr Karsten Kroos, CEO of Thyssenkruppss automotive division, said that "CO2 avoidance in fleet consumption remains one of the key challenges for our customers. He added that "Our powertrain technology offers them solutions precisely for this - both for highly efficient IC engines and for hybrid or all-electric powertrains. With our new investment in Hungary we are expanding not only our production network in Europe but also our product portfolio and manufacturing electric motor components outside Germany for the first time."

Thyssenkrupp has recently received orders from customers to develop and supply assembled rotor shafts for major EV platforms. The company already manufactures these key electric motor components in Ilsenburg in Saxony-Anhalt, Germany, and will add production in Hungary with the new factory.

Source : Just Auto

voda 29 juli 2019 16:44

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thyssenkrupp Electrical Steel Honored with Ludwig Erhard Prize

thyssenkrupp’s electrical steel business has won Ludwig Erhard Prize for its business success, competitiveness and social responsibility. The electrical steel specialist earned the Ludwig Erhard Prize, also known as the “German Excellence Award”, not just for its modern production network and customer-centric business model: the Gelsenkirchen-based company has initiated a change process spanning the entire organization. This process began in 2017 with an ORCA (Organizational Capability Assessment) survey. This detailed survey identified starting points for a tailored change process. Its success was reflected in improved results in a repeat survey in 2018.

The award was based on an assessment process during which the judging panel evaluated the performance of thyssenkrupp Electrical Steel on a wide range of criteria. Representatives of Initiative Ludwig-Erhard-Preis e.V. visited the company and conducted numerous interviews with employees.

thyssenkrupp Electrical Steel GmbH has around 1,700 employees worldwide. With plants in Gelsenkirchen in Germany, Isbergues in France and Nashik in India, the company has an international setup and supplies its customers with high-quality grain-oriented electrical steel, the core material in the transition to renewable energies. Electrical steel is an essential material for transformers and generators and thyssenkrupp is European market leader in this sector. thyssenkrupp Electrical Steel supplies its customers around the world with high-quality grain-oriented electrical steel, the core material in the transition to renewable energies. Electrical steel is the essential material for transformers and generators. thyssenkrupp is the European market leader in this sector.

Image
www.thyssenkrupp.com/en/newsroom/pres...

Source : Strategic Research Institute

voda 29 juli 2019 16:45

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Delong Q2 Net Profit Slides 38%

Delong saw profits sink in the second quarter on thinner margins, research and development costs, and bank borrowings. Net profit came in at 299.6 million yuan (USD 59.6 million) for the three months to June 30, down by 38.1% on the year before. Revenue was lower by 8.1% YoY at 3.45 billion yuan, despite higher hot rolled coil sales, as the average selling price of the hot rolled coil decreased. But administrative expenses swelled by 29.7% to 109.9 million yuan on higher product development costs and higher headcounts at a newly formed, 80% owned Chinese subsidiary. Meanwhile, finance costs more than doubled, to 64 million yuan.

Delong also clocked wider shares of losses from associate Xingtai Xilan Zhongde Natural Gas Sales, as well as joint-venture steel project Dexin Steel Indonesia, which was more than five times deeper in the red for the quarter than in the year-ago period.

Source : Business Times

voda 29 juli 2019 16:46

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AddSteel Project - New Steel Materials For 3D Printing

North Rhine-Westphalia has launched the NRW Leitmarkt project AddSteel, which is aimed at digitalizing the steel industry. Coordinated by SMS group GmbH, a plant engineering company based in Mönchengladbach, this three-year project will develop new function-adapted steel materials for additive manufacturing. One of the project’s key areas of focus is the qualification of the developed materials for laser powder bed fusion, a metallic 3D printing process, at the Fraunhofer Institute for Laser Technology ILT in Aachen. One of the AddSteel project team’s first successes was the development of the first case-hardening and heat-treatable steel powders designed specifically for LPBF applications.

A major challenge facing steelmakers in Germany, and especially those in the state of North Rhine-Westphalia, is the continuing decline in sales. Previously, efficiency was increased by modifying manufacturing processes and equipment. Now, however, developers and users are increasingly turning their focus to the alloys to be processed. Innovative materials offer new potential for competitive advantages.

The steel industry needs new materials to meet its customers’ increasingly complex demands for products they can use, for instance, to manufacture lightweight and crash-resistant components for the automotive sector. This is where additive manufacturing techniques such as laser powder bed fusion (LPBF) come into play, thanks to their ability to exploit digital data to improve component functionality. Adopting metallic 3D printing based on LPBF technology also gives users the opportunity to sustainably optimize the steel industry’s value chain.

Over the last few years, scientists at Fraunhofer ILT have worked continuously to develop the additive laser powder bed fusion technology from a prototyping method to an industrial-scale method for the production of complex parts in small series. LPBF is already being used by companies in the aerospace, turbomachinery, medical device and other industries to produce complex functional components. However, one drawback currently prevents 3D printing of case-hardening and heat-treatable steel: suitably qualified and certified materials that would enable components to be additively manufactured in the LPBF process without forming cracks or defects are either unavailable or not yet available in sufficient quantities for industrial manufacturing.

It is not enough to adjust the LPBF processes and equipment, because the alloy composition of the steel materials currently used is specifically adapted to conventional manufacturing techniques such as primary shaping, reshaping and machining. It was for this reason that, on January 1, 2019, the four partners plant engineering company SMS group GmbH in Mönchengladbach, Deutsche Edelstahlwerke Specialty Steel GmbH & Co. KG in Krefeld, Fraunhofer ILT spin-off Aconity GmbH in Herzogenrath and Fraunhofer ILT in Aachen with support from North Rhine-Westphalia’s Leitmarkt funding program, launched the AddSteel project to develop new steel materials specifically for use in the LPBF process.

Developing new types of steel requires the right elements, the right combination and the creativity of metallurgists especially when, as in this case, the steel is to be processed in a new way. The AddSteel project partners have chosen to develop alloys in an iterative process, combined with systematic adjustments to the LPBF process and equipment. This will be followed by the construction of technology demonstrators for fabricating new components and spare parts that will be used to test and validate performance and cost-efficiency.

Source : Strategic Research Institute

Bijlage:

voda 29 juli 2019 16:57

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One Died, 11 injured following blast in Ludhiana factory

Tribune news Service reported that one man was killed and 11 others injured in a blast in the furnace of a factory in Jhabewal village on the Ludhiana-Chandigarh road in the wee hours of Friday. As per report BC Steel factory deals in remodeling hot iron and several employees were on the job when the blast occurred. All the injured are migrant labourers from Bihar and UP.

The injured were brought to the Civil Hospital, Ludhiana around 2:10 am. Most of them had burn injuries due to the blast.

Source : Tribune News Service

voda 29 juli 2019 16:59

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New Britain PM Vows to Leave No Stone Unturned to Rescue British Steel

The Northern Echo reported that new UK PM Mr Boris Johnson has vowed that his new government will leave no stone unturned to secure a rescue deal for British Steel. He told MPs in the House of Commons that he would do all he could to secure the future of Britain's second-largest steel producer, which employs thousands of workers, including 700 in the North-East at sites in Lackenby and Skinningrove.

Responding to a question about the future of British Steel from Middlesbrough South and east Cleveland MP Simon Clarke, Mr Johnson said that "I can guarantee this government will leave no stone unturned to get a good deal for British Steel."

Earlier last week, former Business Secretary Greg Clark had told MPs that an agreement to ensure the flourishing of British Steel's operations for many years to come is not certain but certainly within grasp.

Source : The Northern Echo

voda 29 juli 2019 16:59

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Gibraltar Announces Second-Quarter 2019 Financial Results

Leading US manufacturer and distributor of building products for the residential, industrial, infrastructure, and renewable energy and conservation markets Gibraltar Industries Inc reported its financial results for the three-month and six-month periods ended June 30, 2019. The Company reported second-quarter 2019 net sales of USD 262.7 million, slightly below its guidance as provided in its first-quarter 2019 earnings release. The Company delivered solid growth in its Renewables, Conservation, and Infrastructure businesses, and continued to see its backlog across the business build to a record level of USD 242 million, up 30% versus last year. The Residential Products Segment delivered flat revenue year-over-year in a slower-than-expected market that was impacted by weather and labor shortages. The Industrial & Infrastructure Segment delivered lower revenue in the quarter as declining steel prices resulted in Industrial customers delaying new orders while they manage existing inventory levels. The Infrastructure business delivered another quarter of positive growth as end-market activity continued to strengthen and new business bid activity increased.

GAAP and adjusted earnings were in line with guidance provided in the Company’s first-quarter 2019 earnings release. Earnings in the quarter were impacted by volume and incremental expense of USD 2.3 million related to substantially completing the field ramp-up of the Company’s new solar tracking solution, partially offset by interest savings from the repayment of the Company’s outstanding debt earlier in the year, lower performance-based compensation and the acceleration of 80/20 initiatives. Without the expense related to our solar tracking solution, GAAP and adjusted earnings would have exceeded the top end of the Company’s guidance for the quarter. The adjusted amounts for the second quarter of 2019 and 2018 remove special items, such as restructuring costs and senior leadership transition costs from both periods, as further described in the appended reconciliation of adjusted financial measures.

President and Chief Executive Officer Mr William Bosway said that “Despite challenging market dynamics in our Residential and Industrial businesses in the quarter, we have solid momentum going into the second half of the year. Our backlog is currently at a record level, up 30% from a year ago due to strength in our solar, greenhouse, perimeter security and infrastructure businesses. We plan to continue to drive growth through our participation in attractive end markets, market share gains, and the ramp-up of new, innovative products and services. We would have exceeded the high end of our quarterly earnings guidance had it not been for an incremental USD 2.3 million we invested to substantially complete the field ramp-up of our new solar tracking solution. Our acceleration of 80/20 simplification, in-lining, and key supply chain initiatives remain foundational to delivering on our plan to drive earnings growth and we continue to benefit from the interest savings from the repayment of our notes.”

Source : Strategic Research Institute

voda 29 juli 2019 16:59

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Tata Steel acquires 2.58 Crore Rights Equity Shares Of Tata Sponge

Tata Steel on July 24 subscribed to 2,58,43,967 Rights Equity Shares of Tata Sponge Iron Limited at an issue price of 500/- per Rights Equity Share (including a premium of 490/- per Rights Equity Share) aggregating to INR 1,292.20 crore. The company stated in a filing that "This is not a related party transaction as it is a subscription to equity shares of Tata Sponge pursuant to TSIL's Rights Issue and does not involve any sale/purchase of shares."

TSIL announced the Rights Issue with the primary objective of repaying or pre-paying or redeeming the debt of TSIL and for general corporate purposes. The company, being a promoter company of TSIL supports this objective and accordingly subscribed to the Rights Issue.

Source : Strategic Research Institute

voda 29 juli 2019 19:52

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Tata Steel Makes Big Investment in Boosting Logistics Facilities

Leading steelmaker Tata Steel announced plans to make huge investments to boost logistics capabilities over the forthcoming years. The proposed investment is not only aimed at lowering the company’s logistics cost, but also transform it to become more competitive. Incidentally, logistics cost accounts for nearly 15% of the total cost per annum incurred by the company. The news release issued by the company states that it plans to invest close to INR 5,000 crore, which will lead to significant lowering of logistics costs in a phased manner. It plans to own eight to nine rail rakes within the next year. This will be carried out through its subsidiary company Tata Martrade International Logistics.

Apart from that, the investment will be utilized for building slurry pipelines to carry raw materials from various mining locations to steel plants. It must be noted that Tata Steel currently has no slurry pipelines, while its competitor Essar Steel owns one to carry ore from mines in Odisha to the port location.

Mr TV Narendran, chief executive officer and managing director, Tata Steel noted that logistics parameter has significant impact over other cost areas. The proposed investment will smoothen logistics for the business, in addition to assuring reliable supplies. Tata Steel has detailed plan to build a Greenfield port in Odisha and invest in building a berth at Paradip Port so as to make shipments smooth and fast.

Source : Strategic Research Institute

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