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Shandong Steelmakers to Cut Production by 400KT

SMM reported that 6 major steelmakers in east China’s Shandong province on Tuesday agreed to cut production of steel building materials by a combined volume of 400,000 tonnes. This came after the decision of joint production curtailments across steelmakers in Shaanxi, Shanxi, Gansu and Sichuan, in a bid to prop up steel prices, as recent price declines have pushed mills to the verge of losses. SMM also learned that some steelmakers who adopt the blast furnace route in Hunan slashed production this week.

Details about the production cut plan remain unclear.

At the meeting, Shandong steelmakers also planned to gradually hike their ex-factory prices, given the spreads against prices in either the north or the south.

They will try to deplete existing inventories of highly-priced raw materials and consumables by using less steel scrap.

Source : SMM
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Steel Minister Visits SAIL Units and Mines in Eastern India

Union Minister for Petroleum & Natural Gas and Steel Mr Dharmendra Pradhan visited Steel Authority of India Limited’s Bokaro Steel Plant, various mines under SAIL’s Raw Materials Division and SAIL’s research & development centre for iron and steel RDCIS during his visit to Jharkhand. During his visit, Hon'ble Minister witnessed and took keen interest in the steel production process. He interacted with the workmen and while lauding them for their contribution, exhorted them to continue the good work. He stressed on the importance of team work and appealed to them to give highest priority to safety. Later in the afternoon, he held a meeting with senior officials of SAIL in which he reviewed the production performance, projects and CSR activities of the plant.

Mr Pradhan underlined the importance of eastern region of the country in driving national growth.

Mr Pradhan also visited different mines of Raw Materials Division (RMD) including Gua Ore Mines, Kiriburu Iron Ore Mines, Mehgahatuburu Iron Ore Mines, and Bolani Ores Mines. While visiting the mines Minister took keen interest in understanding the mines operation and management.

Mr Pradhan also visited various CSR projects of SAIL around the mines area which included Eklavya Archery Academy, Suwan Chhatravaas and Kiran women empowerment centre. He interacted with the students and motivated them to excel in life.

Source : Strategic Research Institute
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Ludhiana Businessman Demand CBI Enquiry against ICEX over Fluctuation of Steel Rates


Times of India reported that Ludhiana based businessmen are up in arms against commodity trading of steel in the country due to which the actual rates of steel are being affected. According to businessmen the central government should call for CBI investigation against the commodity trading exchanges where this type of trade takes place. Mr Badish Jindal, president of Federation of Punjab Small Industries Association, said “A big conspiracy is going on in the country to kill the steel manufacturing and consuming industry, the Indian Commodity Exchange is playing a very dirty and illegal role in the country to destroy small scale industry. India is producing 100 million tonnes of steel every year whereas only 10,000 tonnes of steel is traded in ICEX in India. Since there is no regulatory body in India fixing rates of steel products in India, therefore the market rates of steel now a days are totally based on steel prices trading in ICEX."

Mr Jindal added “The steel trading started on ICEX from August 2018 and ever since that time the steel rates have started fluctuating a lot in India. Before this there was another dirty trick being played by some elements in which rates of steel were being decided via SMS, that too without considering the realtime situation but after our protests this service was banned but now ICEX is hurting us in worst way. Government should ensure that CBI investigation is initiated in order to check this commodity trading practice and the reasons too should be probed how the price of steel is fixed by commodity tradeing exchange. We have shot off a letter to prime minister with our suggestions and also demanded a CBI enquiry against this malpractice.”

Source : Times of India
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POSCO’s Cryogenic Steel for LNG tanks Gets Approval

South Korean government has approved the use of Posco’s cryogenic high manganese steel for manufacturing liquefied natural gas storage tanks. The decision made after a review by an independent panel on gas technology standardization will be notified by the government. Cryogenic HMS developed by the South Korean steel giant, can withstand temperatures as low as minus 196 degree Celsius, and could replace nickel alloy steel which has been commonly used for LNG storage tanks.

POSCO plans to step up efforts to participate in LNG-related projects in line with toughening measures on green ships. By 2030, the market is expected to see fresh orders for about 890 LNG tanks and 4,700 vessels of LNG tank carriers.

Last year, the International Maritime Organization’s Maritime Safety Committee approved interim guidelines on applying HMS in cryogenic LNG storage and fuel tanks

Posco is the first steelmaker in the world that has succeeded in commercializing cryogenic HMS.

Source : Strategic Research Institute
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Severstal Implementing Dust Briquetting Project at CherMK

Severstal has begun installation of the main equipment of the dust briquetting line for gas cleaning of the steel production of the Cherepovets Metallurgical Plant, which will process and reuse up to 23 thousand tons of dust in production in year. According to the general director of the Severstal Russian Steel division Vadim Germanov, the commissioning of the line is scheduled before the end of 2019. It will reach its design dust processing capacity in 2020. At the moment, installation of the main equipment is underway, the supplier of which was the company AMCOM LLC.

The main units and assemblies of the line have already been installed, in particular, an extruder, mixers, a feed station, a conveyor, a control panel, as well as bins for storing finished zinc-containing briquettes. Work continues on the installation of equipment for receiving and unloading dust, power lines and line control circuits, instrumentation and automation. Installation supervision and commissioning are carried out by the supplier of the main technological equipment.

Ready briquettes will be used in the smelting of an electric furnace, or implemented. Recall that in the framework of the program to reduce emissions at CherMK, the implementation of a large range of measures is ongoing. They were developed as part of the implementation of the “May” Decree of the President of the Russian Federation on reducing gross emissions in large industrial centers.

Source : Strategic Research Institute
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Danieli Service do Brasil executes Upgrade Project at Gerdau Pindamonhangaba

Gerdau contracted Danieli to upgrade its rolling mill #3 in Pindamonhangaba, São Paulo, in order to be able to produce spring steel flat bars. The mill, producing specialty steel round bars, has recently been supplied by Danieli. The project consisted of advisory technical services, expertise sharing, and equipment supply, including new cooling bed eccentric shafts and pneumatic apron flaps. Other on-site activities (dismantling, mounting, cold and hot commissioning) were included, too. The first flat bars produced -ahead of schedule- already have shown optimal surface quality and metallurgical properties.

The project will continue with a second phase aiming to increase the dimensional product range.

Danieli Service, by means of its local Brazilian structure, offers: solutions to revamping projects, original spare parts, qualified technical assessment, refurbishments and consignment stock in the local workshop.

Source : Strategic Research Institute
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UK Steel Industry Outlines its Demands to Help Boost British Plants

The Mirror reported that UK steelmakers have issued a series of demands to Boris Johnson in a bid to pump new life into the industry. Trade body UK Steel called on the Prime Minister to secure tariff free access to EU markets for British metals, avoiding UK firms being hammered with extra costs. It also wants an easing of electricity costs so plants can compete with European rivals and an overhaul of business rates which would benefit the fragile sector. UK Steel has produced a 10-page mini-manifesto “A New Deal for Steel: Laying the Foundations for a Vibrant UK Steel Industry” which it has sent to key ministers in the new Government.

It says “The steel industry is already a big investor in the UK, averaging GBP 200 million every year across the UK’s five major producers. But we want to invest more, in our plants, in our people and in R&D. If the right business environment can be provided, by the steps outlined in this document, the steel sector is ready to commit to increasing capital investment by an additional GBP 100 million a year as well an injection of GBP 50million in new R&D funding over five years.”

UK Steel director Gareth Stace said “It’s time for the Government to take action on sky high energy prices, reform the business rates regime and back British industry when it comes to big ticket Government contracts. It is entirely possible for the UK to have a strong and sustainable steel industry, every other major developed economy does. The steel industry is ready to invest in its future in the UK, all it requires is a partnership with the Government that can deliver those actions and unlock its potential.”

Community steelworkers’ union Roy Rickhuss backed the call, saying “Our industry provides thousands of jobs, it sustains families and whole communities across the UK, and it is time the Government gives it the support it needs to survive. Each of the key six asks made by UK Steel in this manifesto are asks made by the weight of our entire industry. Support from Government in these six key areas would help create the level playing field that our industry needs to be sustainable and prosperous long into the future.”

Source : The Mirror
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Iran Imports of Steel Products in 3 Month Down 208%

According to figures by Iranian Steel Producers Association, Iran’s imports of steel products witnessed a 208% decrease during March 21-June 21, 2019, compared to the figure for the same period last year. In this period, the country imported 95,000 tonnes of steel products. The figure stood at 293,000 tonnes in the same duration a year ago. In addition, ISPA statistics pertaining to the country’s raw steel imports during the same time span of 2019 indicates an 83% drop YoY. The import figures pertaining to the three-month period to June 21, 2019 show that Iran’s purchase of iron girder, steel round bar, angle iron and structural channel declined 37% YoY to stand at 27,000 tonnes from 37,000 tonnes in the same period of last year.

The country’s imports of hot and cold rolled and galvanized sheets in the same three-month period of 2019 reached 68,000 tonnes, showing a 276% decrease compared to the figure for the corresponding period of 2018 which amounted to 256,000 tonnes. Moreover, Iran’s steel billet and bloom imports fell 80 percent during March 21-June 21, 2019, compared to the country’s purchases of the same products in the preceding year.

Iran’s raw steel production during the three-month period to June 21, 2019 stood at 6.63 million tonnes, indicating a five percent rise compared to that of the same period of a year ago, which was 6.29 million tonnes.

The country’s production of steel products in the same three-month period of 2019 amounted to 5.27 million tonnes, up 17% compared to its output in the same duration of 2018 which stood at 4.55 million tonnes.

During March 21-June 21, 2019, Iran exported 2.18 million tonnes of raw steel and steel products, of which 1.42 million tonnes pertained to the overseas sales of steel ingots and 758,000 tons to the sales of steel products in foreign markets.

Source : Iran Daily
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Liberty Steel Forges Future Growth with Infor

Liberty Speciality Steel, which has business units in some of the UK’s industrial heartlands, with sites in Stocksbridge, Rotherham, Fort William, Hartlepool, Scunthorpe, Sheffield and Bolton, is using cloud-provided software from Infor to fire its growth. The speciality steelmaker was formerly owned by Tata Steel, and when it was sold to Liberty House in 2017, it had to replace SAP systems covering finance, HR and engineering under a stark 12-month deadline. Mr Chris Smith, CIO at Liberty Specialty Steel brought in to direct the IT transition, said that “If you think about it, it’s not vastly different having a recipe for a tuna sandwich or for an ingot of steel. It’s still a process.” He said that each of the company’s sites produces a different range of products, and they also have a complex ecosystem of different enterprise resource planning systems.

Mr Smith said that “When it came to the technology choice, we were, in a sense, tired of SAP. We looked at Oracle, but it did not present so well, and was more expensive than Infor.”

As for the Amazon Web Services cloud infrastructure behind Infor, Smith said that “If it’s good enough for the US military, it’s good enough for me.”

Based on a deployment of Infor CloudSuite Industrial Enterprise, Liberty Speciality Steels plans to use an “Infor-first” technology policy. One of Infor’s advantages over competing Oracle and Microsoft technology sets was that Infor would not require investment in infrastructure.

Source : Computer Weekly
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GMS Market Commentary on Shipbreaking in Turkey in Week 32 - NO WHERE TO GO!

Despite relatively steady fundamentals i.e. a Turkish Lira that’s been buoying around the TRY 5.6X mark against the US Dollar and local steel scrap prices that seem to be enjoying a newfound stability around the USD 290–295 per tonne region, the malignant shortage of tonnage has left Aliaga Recyclers paralyzed in no-man’s land. The onset of Eid with the Turkish market being on holiday for much of this week will also do little to improve the local market situation.

Overall, tonnage fixtures remain few and far between and despite a narrowing price gap with the subcontinent markets (especially when compared to the Indian market) that has been the smallest we have seen over the last year, the Turkish market is no closer to becoming an active recycling destination any time soon.

As such, unless the supply of units opening up in the area improves or price declines from the subcontinent continue unabated, resulting in levels from both locations getting to within striking distance of one another, we do not anticipate any positive moves from Turkey in the near future.

Source : Strategic Research Institute
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Russel Metals Announces Q2 Results

Russel Metals Inc announced financial results for the second quarter ended June 30, 2019. For the 2019 second quarter, we report net income of CAD 31 million on revenues of CAD 937 million compared to net income of CAD 66 million in the second quarter of 2018. Gross margins in the 2019 second quarter of 18.8% were lower than the 24.4% gross margins experienced in the 2018 second quarter which were higher because of the imposition of the US 232 tariffs which led to higher selling prices.

Revenues in our metals service centers decreased 5% to CAD 535 million for the quarter compared to the same period in 2018. Same store tons shipped in the second quarter of 2019 were approximately 7% lower than the second quarter of 2018. The average selling price improved 2% over second quarter 2018 aided by our continued growth in value-added processing. Gross margins were 18.7% compared to 25.5% in the second quarter of 2018 and 19.2% in the 2019 first quarter. Gross margin as a percentage of revenues in the second quarter of 2019 was lower than 2018 related to the higher cost of inventory and competitive pricing pressure due to destocking of higher priced inventory in the industry. Operating profits of CAD 23 million compared to CAD 57 million reported in the same quarter in 2018.

Revenues in our energy products segment decreased 7% to CAD 298 million compared to USD 320 million in the 2018 second quarter due in part to reduced year-over-year North American rig counts. Gross margins were 19.5% compared to 20.9% for the 2018 second quarter. This segment had operating profits of CAD 24 million compared to USD 28 million in the same quarter last year.

Revenues in our steel distributors segment increased by 8% to CAD 100 million compared to CAD 92 million in the 2018 second quarter. Our Canadian operation continued to experience higher demand from their customer base due to opportunities presented by the trade disruptions. Gross margins were 13.5% compared to 26.8% as margins returned to historical levels during a declining steel price environment. Operating profits were CAD 7 million compared to CAD 15 million in the 2018 second quarter. Our revenues for the six months ended June 30, 2019 were CAD 2.0 billion up 3% from CAD 1.9 billion for the same period in 2018 due to higher selling prices. Our 2019 year to date earnings of CD 65 million or CAD 1.05 per share compared to CAD 105 million or USD 1.69 per share for the same period in 2018.

Mr John G Reid, President and CEO commented that "We achieved solid second quarter results as we navigated declining steel prices and modest demand following an exceptional 2018. The removal of North American section 232 and retaliatory tariffs in May 2019 have lowered North American prices. Steel prices appear to be nearing the bottom early in the third quarter of 2019. Overall demand, while lower than 2018, remained steady in all three segments. World trade uncertainty tempered manufacturing growth particularly in the agricultural, heavy equipment, transportation and construction industries."

Mr Reid continued that "WTI oil prices continue to be range bound and rig counts are trending below last year’s level in both Canada and the US Areas which should provide positive momentum to our energy products segment include growth in the Permian Basin in the US and LNG projects in Western Canada."

Source : Strategic Research Institute
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Sunflag Iron & Steel Announced Q1 Result

Sunflag Iron & Steel Co Ltd has reported financial results for the period ended June 30, 2019. The company has reported total income of INR 489.01 crores during the period ended June 30, 2019 (Q1 FY20) as compared to INR 531.23 crores during the period ended March 31, 2019 (Q4 FY19). The company has posted net profit of INR 3.93 crores for the period ended June 30, 2019 (Q1 FY20) as against INR 10.17 crores for the period ended March 31, 2019 (Q4 FY19). The company has reported EPS of INR 0.22 for the period ended June 30, 2019 (Q1 FY20) as compared to INR 0.78 for the period ended March 31, 2019 (Q4 FY19).

The company has reported total income of INR 489.01 crores during the period ended June 30, 2019 (Q1 FY20) as compared to INR 558.93 crores during the period ended June 30, 2018 (Q1 FY19). The company has posted net profit of INR 3.93 crores for the period ended June 30, 2019 (Q1 FY20) as against INR 40.61 crores for the period ended June 30, 2018 (Q1 FY19).

Source : Strategic Research Institute
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GMS Market Commentary on Shipbreaking in Bangladesh in Week 32 - LOW EBB!

A few signs of life seem to be emanating from Bangladesh once again as inquiries start to emerge. However, as with all subcontinent markets, local offerings remain suspended well below the USD 400/LDT mark and demand likewise remains at low ebb. Eid holidays are now underway and will last for the next week or so, resulting in limited & minimal local activity not only in terms of sales and deliveries but also engagements with banks, local agents, port authorities etc.

Many in the industry are certainly hoping that Bangladeshi end buyers start to display some of their old exuberance after the holidays, particularly with India and Pakistan struggling so significantly at present and with the monsoon season now nearing an end & as tonnage starts to shift from local yards, interest to purchase may well start to return as September comes around.

NO MARKET SALES REPORTED
Source : Strategic Research Institute
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Chongqing Iron and Steel H1 Net Profit Dips 19% YoY

In the first half of the year, Chongqing Iron and Steel achieved operating income of CNY 11.48 billion, an increase of 3.52 percent over the same period last year, while the net profit for the period was CNY 616 million, down 19.19 percent from the same period last year.

Source : Strategic Research Institute
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ASI Certifies Aleris Duffel in Belgium

Aleris Duffel has achieved Certification to the ASI Performance Standard for its rolling facility in Belgium, demonstrating its commitment to environmental, social and governance performance. The company’s Duffel plant is one of the largest rolling mills in Europe, producing rolled products from aluminum and special alloys. Aluminium Stewardship Initiative announced that the Aleris Duffel aluminium rolling and casthouse facility has been successfully certified against ASI’s Performance Standard for responsible production, sourcing and stewardship of aluminium. The plant features a CALP (Continuous Annealing Line with Pre-Treatment), hot and cold rolling mills that produce automotive body sheet and products for transport, building and industrial end uses.

The ASI Certification program was developed through an extensive multi-stakeholder consultation process and is the only comprehensive voluntary sustainability standard initiative for the aluminium value chain. The independent, third-party audit of Aleris was carried out by Bureau Veritas Certification.

Ms Fiona Solomon, Chief Executive Officer at ASI, said that “We sincerely congratulate the Aleris Duffel team for achieving ASI Certification against the ASI Performance Standard. As a founding member of ASI, Aleris has made valued contributions to the development of our multi-stakeholder initiative and its growing success, and their connections to downstream use sectors like automotive are a critical piece of the foundation for ASI’s whole-of-supply chain approach. We are very pleased to see them play a leadership role on sustainability and thank them for their continued commitment.”

Mr Andreas Gondorf, vice president Aleris Automotive, said that “Achieving Certification to the ASI Performance Standard for our Duffel facility is a tremendous honor and great reward for our efforts and ongoing commitment to sustainability. We know our customers share these goals, and we look forward to our continued partnership with them as we focus on developing innovative solutions that will advance our mutual sustainability objectives.”

Source : Strategic Research Institute
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Iranian Iron Ore Exports seen at 17 Million Tonnes Last Year

Financial Tribune reported that figures released by the Iranian Mines and Mining Industries Development and Renovation Organization show that a total of 17 million tons of iron ore were exported from Iran in the last fiscal year (March 2018-19). Iron ore in the form of fines/lumps had the lion’s share from exports with 8.84 million tons, followed by iron ore concentrate with 5.52 million tons and iron ore pellet with 2.78 million tons.

IMIDRO data show exports of iron ore concentrate, iron ore fines/lumps and iron ore pellet earned USD 380.95 million, USD 258.75 million and USD 201.92 million respectively, meaning USD 840 million were exported from the country during the month.

Source : Financial Tribune
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Champion Iron’s Quebec Iron Ore Ships Ten Millionth Tonne of Iron Ore from Bloom Lake

Champion Iron Limited announced that its subsidiary, Quebec Iron Ore Inc, shipped its tenth million tonne of high-grade 66.2% Fe iron concentrate from the Port of Sept-Îles multi-user terminal from its production at the Bloom Lake Iron Mine, located near Fermont, Quebec. The achievement of this significant milestone occurred less than eighteen months after Bloom Lake was recommissioned on February 16, 2018, and achieved its annual full nameplate capacity of 7.4 million tonne per annum in its first year of operation. Champion benefits from access to world class infrastructure, including access to a deep-water terminal where a capesize vessel can be loaded in less than 40 hours. The delivery and sale of the Bloom Lake high-grade iron ore concentrate to end-users in Asia, Europe and the Middle East is being completed at a time of rising demand for high-grade iron ore concentrate with low impurities.

Mr Cataford, CEO of Champion, said “The ten millionth tonne is a significant milestone for our Company after recommissioning the Bloom Lake Mine in February 2018. We are proud to have a leading role in the development of the Labrador Trough, a region that has a proud history in mining and world-class infrastructure that has the capacity to handle the proposed Phase II expansion of Bloom Lake. On behalf of our entire team, I would like to thank all of the agencies partnered with our Company including the Port of Sept-Îles, the Société Ferroviaire et Portuaire de Pointe-Noire, the Québec North Shore and Labrador Railway and Genessee Wyoming. It is extremely motivating to be leading a competent team that is setting historical production records at Bloom Lake and we are fortunate to benefit from our partners’ personnel consistently engaged in the region contributing and working with our Company to achieve new milestones.”

Source : Strategic Research Institute
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Staalbedrijf British Steel mogelijk (deels) in Turkse handen

Het in surseance verkerende British Steel komt mogelijk in Turkse handen. Een investeringsvehikel van het pensioenfonds van de Turkse strijdkrachten zou de belangrijkste kandidaat zijn om het Britse staalbedrijf over te nemen. De Britse zakenkrant Financial Times meldde woensdag dat het Turkse Ataer Holding de komende weken exclusieve onderhandelingen kan voeren over een overname en de tijd krijgt voor een uitgebreid boekenonderzoek.

Turks staalbedrijf

Ataer Holding, ook wel bekend als Oyak, is ook de grootste aandeelhouder van Erdemir, het grootste staalbedrijf van Turkije. Oyak staat onder leiding van Mehmet Tas, een voormalige legergeneraal. Het pensioenfonds van het Turkse leger is als investeerder ook actief in de sectoren energie, landbouw, mijnbouw en in de cementindustrie. Oyak werkt daarnaast samen met de Franse autoproducent Renault.

Volgens de FT komen de bewindvoerders van British Steel later deze week met nader nieuws over de rol van Turkse pensioenfonds inzake de overname. Geruchten dat de Turken het staalbedrijf willen kopen zijn er al langer; vorige week maakte ook persbureau Reuters melding van de Turkse interesse.

Het staalbedrijf verkeert sinds mei in surseance en klopte bij de Britse regering aan voor een noodkrediet. Maar Londen voelde daar niets voor en ook beleggingsmaatschappij Greybull Capital, tot voor kort eigenaar van British Steel, slaagde er niet meer in het bedrijf met nieuwe investeringen te redden.

Grootste staalproducent VK

British Steel is, na Tata Steel UK, de grootste staalproducent van het Verenigd Koninkrijk. Greybull Capital kocht het staalbedrijf in 2016 voor een symbolisch bedrag van één Britse pond van Tata Steel Europe, waar ook de voormalige Koninklijke Hoogovens in IJmuiden deel van uitmaakt.

Bij British Steel staan 25.000 banen op het spel, vijfduizend bij British Steel en 20.000 bij toeleveringsbedrijven. De Britse regering is het dan ook veel waard dat British Steel van de ondergang wordt gered, al is de kans groot dat het bedrijf na een eventuele overname wordt opgeknipt.

Nederlandse dochter

British Steel heeft ook een Nederlandse dochter: FNSteel, een draadwalserij uit Alblasserdam met circa driehonderd werknemers. Het Zuid-Hollandse bedrijf kwam twee jaar geleden in handen van het Britse staalbedrijf.

FNSteel levert stalen draden met een diameter van 5 tot 30 millimeter aan onder meer de auto-industrie en bouwbedrijven in Europa. Het bedrijf behaalde enkele jaren geleden nog een omzet van ongeveer €150 mln. De zogeheten ‘langdraad’ van FNSteel wordt wereldwijd verwerkt in bijvoorbeeld kogellagers, gereedschappen, lasdraad, veren, bevestigingsmaterialen en onderdelen voor voornamelijk de machine- en automotive-industrie.

fd.nl/ondernemen/1312693/staalbedrijf...
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Tata Steel legt per direct duurzame proeffabriek Hisarna stil om kosten te besparen

IJMUIDEN
Tata Steel legt per direct de revolutionaire proeffabriek Hisarna stil. Daarnaast krijgt het personeel dit jaar geen kerstpakket.

Dat zijn enkele maatregelen waarmee het staalbedrijf kosten bespaart vanwege tegenzittend economisch tij. Een woordvoerster van het staalbedrijf bevestigt de maatregelen desgevraagd. De proeffabriek wordt stilgelegd tot en met januari volgend jaar. Hisarna is de laatste jaren juist een blikvanger omdat daar op een alternatieve manier staal wordt gemaakt waardoor veel minder CO2 wordt uitgestoten en er veel minder energie wordt verbruikt.

Nood
Maar de nood is hoog bij Tata. Volgens de woordvoerster zijn ’stevige maatregelen’ nodig om de resultaten op orde te krijgen. ,,Dat is nodig door de slechte economie in het Verenigd Koninkrijk en Duitsland. Daardoor is de automobielindustrie verslechterd. Daarnaast zijn de ertsprijzen hoog en is er onzekerheid over de Brexit. En we hebben te maken gehad met een joint venture die niet doorging.’’

Het plan was om samen te gaan met Thyssenkrupp AG maar het Duitse bedrijf staakte die plannen. Dus moet er fors gesneden worden in de kosten. Om welk bedrag het gaat, kan de Tata-woordvoerster niet zeggen. Naar verluidt zou het gaan om een bezuinigingsbedrag van zestig miljoen euro in heel Europa. Het stilleggen van de Hisarnafabriek zou zo’n anderhalf miljoen euro opleveren. Tata kan die bedragen niet bevestigen.

Spoedoverleg
Productiepersoneel van Hisarna wordt overgeplaatst naar andere afdelingen, legt een woordvoerster uit. Er wordt ook gesneden in tijdelijk personeel. Hoewel sommige personeelsleden in de opschorting een definitieve sluiting zien, spreekt Tata dat tegen. ,,Sluiting is niet aan de orde’’, zegt de woordvoerster. In het project is inmiddels 75 miljoen geïnvesteerd, waarvan veertig procent subsidiegeld is.

Voorzitter Frits van Wieringen van de ondernemingsraad van Tata is pas vandaag ingelicht over de plannen en heeft nog geen standpunt over de maatregelen. ,,We hebben meteen een spoedoverleg aangevraagd met de directie. Ik snap wel dat als je snel geld wil besparen je dat kan doen door Hisarna stil te zetten. Dan lijdt de gewone productie daar niet onder.’’ In een mail aan het personeel heeft Tata het kantoorpersoneel in IJmuiden ook opgeroepen om in overleg op vrijdag vrij te nemen.

www.noordhollandsdagblad.nl/cnt/dmf20...
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Turks pensioenfonds wil British Steel kopen

Gepubliceerd op 16 aug 2019 om 13:30 | Views: 624

ArcelorMittal 13:49
11,57 +0,13 (+1,14%)

SCUNTHORPE (AFN/BLOOMBERG) - Het Turkse militaire pensioenfonds Oyak is in exclusieve gesprekken om de failliete staalmaker British Steel over te nemen. Dat doet het fonds, dat meer dan 19 miljard dollar aan bezittingen heeft, via zijn dochter Ataer. Ataer heeft nu twee maanden de tijd om afspraken te maken met klanten, toeleveranciers, werknemers en vakbonden.

De Britse Insolvency Service, dat de liquidatie van het bedrijf overziet, bevestigde de exclusieve gesprekken met Ataer. Volgens de dienst hebben de Turken een "acceptabel" bod gedaan.

British Steel vroeg in mei uitstel van betaling aan. Dat was drie jaar nadat investeerder Greybull Capital het bedrijf had overgenomen van het Indiase Tata Steel voor 1 pond. Bij British Steel werken ongeveer 5000 mensen. Het Britse staalbedrijf is ook eigenaar van het Nederlandse FN Steel in Alblasserdam.

Oyak is in eigen land de grootste aandeelhouder van staalbedrijf Erdemir.
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