DeBeurs.nl

voda 4 juni 2019 17:15

0

Mr Sanjeev Gupta Forging Scheme To Salvage British Steel - Report

Daily Mail reported that industrialist Sanjeev Gupta is working on a sensational rescue bid for British Steel after being encouraged to step in by Ministers who want to seal a deal within weeks. The Mail understands Liberty is interested and sees Scunthorpe as an exciting proposition. Mr Gupta is understood to have been approached by Ministers, British Steel bankers and unions who see Liberty as the best potential buyer. The Indian born British tycoon's radical vision for the company would effectively transform its Scunthorpe plant into a giant steel recycling centre.

The switch may cause job concerns because electric arc furnaces, which process recycled scrap, are less labour-intensive than traditional blast furnaces, which create steel from iron ore. But supporters of the more environmentally friendly process are confident a greater number of jobs can be created in the supply chain.

Mr Gupta's company, Liberty Steel, is understood to be among a handful of serious potential suitors to have expressed an interest in the company which collapsed into liquidation last month putting up to 25,000 jobs at risk.

Source : Daily Mail

voda 4 juni 2019 17:16

0

Pakistan Steel Industry Asks Govt To Keep Special Procedures Intact In Next Budget

The News reported that amid consideration of the government to abolish special procedures of sales tax for steel industry in the next budget, the steel industry has asked the government to keep special procedures intact but raise the GST at standard rate of 17%. The FBR has estimated that its rate of GST under special procedures for steel sector stands at around 8 to 8.5% but the industry argues that it hovers around 15% under special procedures of sales tax. The industry has sent out communication to the FBR and stated that Pakistan's steel industry, which was thriving just a year ago, was now heading towards the brink of collapse. Many steel mills have either closed down or drastically reduced capacity utilisations since demand has withered amidst uncertainty, inflation and signs of a contracting economy.

Units that are currently running are reportedly making losses and are getting ready to consolidate and downsize unless the government is able to provide a better framework. With further cost increases due to rupee devaluation, interest rate hikes, energy cost increases and taxation measure, the government needs to have a plan to counter the pressure that businesses will face across Pakistan in the upcoming fiscal year.

The steel industry has asked the FBR for various policy interventions aimed at reducing the cost of doing business and providing a level playing field between sectors.

The industry has suggested for removing all customs and regulatory duties on melt able steel scrap, a primary raw material, in order to counter the cost increases expected on account of currency devaluation, interest rate, energy and taxation. Industry players believe that if duties on re-melt able scrap are not removed, capacity utilisations will fall and government revenue will drastically decrease.

Another major issue for the industry as well as FBR is the Sales Tax Special Procedures. Currently, the law (under 58Hb, Sales Tax Special Procedures) prevents steel companies from using captive and third party sources of power other than DISCOs.

The industry argues that since Pakistan has some of the highest electricity rates in the region, it is imperative that the industry is free to invest and explore cheaper sources of power to become globally competitive. As such, it is important for FBR to remove such a clause from the Special Procedures. Moreover, while the industry has accepted an increase in sales tax to end the concessionary nature of the regime, the documented steel players have strongly opposed an end to this regime. They claim that the FBR does not have the field strength to audit and collect sales tax under the ad valorem regime from such a vast and fragmented steel industry, which will result in undercutting of the formal segment of the steel industry and an overall reduction in tax revenue for the government. In this situation, particularly steel sector is the worst hit. Policy decisions taken by the FBR on these points will have long term effects on the steel industry’s potential.

Source : The News

voda 4 juni 2019 19:22

0

TWIN Elevators Now Open To Tenants At Coda Building In Atlanta - thyssenkrupp

thyssenkrupp Elevator announced that its TWIN elevator system, which features two cars operating independently in one shaft, is now open to tenants at the 21-story Coda building, codatechsquare.com in Atlanta, USA. The Coda building features 10 TWIN elevators in 5 shafts. The 770,000 square foot mixed-use building not only features the world’s tallest spiral staircase, but the first TWIN elevators to be installed in North America. Mr Peter Walker CEO of thyssenkrupp Elevator said that “Innovative solutions for transporting people are essential to support cities in maximizing their potential. The TWIN technology offers higher performance, safety and comfort, but also better energy efficiency. We are very proud for having been selected for this great project.”

The TWIN elevator system features two cars operating independently in one shaft, making efficient use of available space while transporting up to 40 percent more passengers than conventional elevators. Each TWIN elevator has its own major mechanical and electrical components and shares the same guide rails and landing doors in a single elevator shaft. By reducing the number of shafts necessary, additional floor space is given back to the building, creating additional leasing opportunities.

Source : Strategic Research Institute

voda 5 juni 2019 15:29

0

Europese staalsector roept Brussel op tot actie

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal
13,82 -0,038 -0,27 % Euronext Amsterdam
Bekaert
22,18 0,16 0,73 % Euronext Brussel
ThyssenKrupp AG
12,055 -0,08 -0,66 % Frankfurter Wertpapierbörse (Xetra)
Voestalpine AG
23,62 -0,58 -2,40 % Wiener Börse

(ABM FN-Dow Jones) De Europese staalsector heeft de Europese Unie opgeroepen om maatregelen te nemen vanwege de uitdagingen waarmee de sector wordt geconfronteerd. Dit gebeurde middels een open brief die door 45 CEO's werd ondertekend.
?
"We roepen op tot dringende actie door de beleidsmakers om de sector te helpen de marktverstorende effecten van staal[dumping] in de EU te overwinnen sinds de Verenigde Staten in 2018 importheffingen op staal instelden",
?
"De ernstige gevolgen zijn nu duidelijk zichtbaar", aldus de CEO's in hun brief. Zij waarschuwden dat duizenden banen op het spel staan.
?
Sinds 2013 is de Europese import van staal meer dan verdubbeld, terwijl de vraag slechts marginaal steeg en naar verwachting dit jaar zelfs daalt.

"De Europese staalsector zit in een crisis."

Daarom moet Brussel de marktverstorende staalimport stoppen, aldus de brief. De CEO’s roepen daarbij op tot een nood-bijeenkomst.

ArcelorMittal heeft eind mei nog aanvullende maatregelen aangekondigd voor zijn productie-apparaat in Europa.

"Dit is opnieuw een moeilijk besluit voor ons om te nemen, maar gezien de zwakte in de markt, voelen we dat dit de juiste stap is", aldus CEO Geert van Poelvoorde van ArcelorMittal in een toelichting.

Begin mei liet ArcelorMittal al weten de productie in Europa terug te brengen vanwege een zwakkere vraag, concurrentie van goedkoop importstaal en hogere kosten voor energie en CO2-uitstoot.

"Het bedrijf blijft geraakt worden door de zwakke marktvraag en hoge importniveaus in Europa", meldde het woensdag.

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

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

voda 5 juni 2019 15:33

0

Winst Voestalpine onder druk ondanks omzetgroei

FONDS KOERS VERSCHIL VERSCHIL % BEURS
Voestalpine AG
23,56 -0,64 -2,64 % Wiener Börse

(ABM FN-Dow Jones) Voestalpine heeft over het afgelopen boekjaar meer omzet, maar beduidend minder winst geboekt door eenmalige posten. Dit maakte de Oostenrijkse staalgigant woensdag voorbeurs bekend.

De omzet steeg met 5,1 procent naar 13.561 miljoen euro voor de periode van 4 januari 2018 tot en met 31 maart 2019.

Het bedrijfsresultaat (EBITDA) daalde echter met 19,9 procent naar 1.565 miljoen euro met een marge die daalde van 15,2 procent naar 11,5 procent.

Bij de winst per aandeel was de afname nog significanter, namelijk met 47,5 procent naar 2,31 euro.

Het bedrijf repte woensdag over een goede start van het jaar, waarna het marktsentiment verdampte, onder andere door de wereldwijde handelsperikelen en Brexit.

Dividendverlaging

Voestalpine besloot het dividend te verlagen van 1,40 naar 1,10 euro per aandeel.

Outlook

Voestalpine zei woensdag hard te werken aan stabilisering van het operationeel resultaat met als belangrijkste uitdaging de Amerikaanse operaties zo te laten presteren dat de volumedoelstellingen zullen worden gehaald.

De koers van het aandeel Voestalpine sloot dinsdag op 24,20 euro, een winst van 2,1 procent.

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

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

voda 5 juni 2019 15:40

0

Video: lage staalprijs zorgt voor aanhoudende druk ArcelorMittal

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal
13,676 -0,182 -1,31 % Euronext Amsterdam

(ABM FN-Dow Jones) De aanhoudende lage staalprijzen zetten in combinatie met de hogere prijzen voor ijzererts en cokeskolen druk op de marges van staalfabrieken en daarmee staalproducenten.

Zo rapporteerde staalgigant ArcelorMittal begin mei fors lagere resultaten over het eerste kwartaal als gevolg van de lagere staalprijs. Casper Burgering, econoom industriële metalen ABN AMRO, voorziet op de korte termijn geen significant herstel van de staalprijs.

www.youtube.com/watch?v=OVouyXZSfY0

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

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

voda 5 juni 2019 16:18

0

Cade Approves Purchase Of Ferrous Resources By Vale

The Superintendence-General of the Administrative Council for Economic Defense Cade has approved, without restrictions, the acquisition of control of the mining company Ferrous Resources Limited by Vale. The deal was notified to Cade last December and, according to the companies, cost Vale USD 550 million or about BRL 2.140 billion.

Ferrous is company of the Icahn Enterprises Group, which owns mining assets in the country through its subsidiaries Mineração Jacuípe, Empresa de Mineração Esperança and Ferrous.

Vale entered an agreement to acquire Ferrous Resources for USD 550 million in December 2018. Ferrous Resources has about 4 million tonnes of iron ore production capacity and recently adapted its plants for high quality pellet feed production, although commercial operations have not yet started.

Source : Strategic Research Institute

voda 5 juni 2019 16:19

0

MMK Is The Largest Supplier Of Rolled Stock For Russian Pipes Market

Magnitogorsk Iron and Steel Works confirmed its status as the largest supplier in Russia of rolled metal for the production of pipes. At the end of 2018, the Company shipped 3.3 million tonnes of hot-rolled steel to the Russian market, of which more than half was delivered to companies in the pipe industry. MMK's Head of Sales to Pipe Companies Mr Alexander Kadoshnikov made this comment at the 9th All-Russia Conference ‘Steel Pipes: Production and Regional Sales’ held in Rostov.

According to him, the pipe industry is one of the key segments of MMK's presence in the domestic market. It accounts for more than a quarter of all the plant's Russian sales. MMK firmly holds the position of Russia's largest supplier of rolled metal for the production of welded pipes. Last year, the Company shipped a total of 3.3 million tonnes of hot rolled steel to the Russian market, about 56% of which went to pipe manufacturers. In 2017, the supply of hot-rolled steel to the market amounted to 3.2 million tonnes, and a year earlier it was 3.1 million tonnes.

MMK itself is a manufacturer of pipe products, producing round, galvanised and shaped tubes since 2017. The volumes of shipments of MMK’s own pipe products to the domestic market in 2018 amounted to 60,000 tonnes, including 11,100 tonnes of galvanised pipes. In 2019, the volume of shipments of pipe products to the Russian market is planned to remain at the same level as in 2018.

As noted by Mr Alexander Kadoshnikov, in a highly competitive market, the most promising marketing strategy is to find and consolidate market niches. In this regard, MMK continues to work on developing new products and improving the quality of already existing products. Over the past year, MMK has mastered production of new types of products from steels of different strength grades, as well as expanding the numbers of sizes and brands of product. In particular, in 2018, the technology for the production of sheet metal from grade 0H9 cryogenic steel was developed and mastered for use in projects for cryogenic equipment and in the construction of facilities for transportation, use and storage of compressed and liquefied natural gas. In 2019, there are plans to expand the size and range of rolled products made from cryogenic steel.

Source : Strategic Research Institute

voda 5 juni 2019 16:19

0

Auction Notices For 48 Non Coal Mines Likely By July - Report

Financial Express reported that India’s mines ministry will by the end of July issue notices inviting tenders to auction 48 operating non captive iron and manganese ore mines whose leases will expire in March 2020. Cumulatively, these mines annually produce around 45 million tonne of both the raw materials, mostly iron ore. Half of these mines are located in Odisha, six each in Jharkhand and Karnataka, five in Gujarat, three in Andhra Pradesh, two in Rajasthan and one each in Himachal Pradesh and Madhya Pradesh.

As per the provisions of the Mines and Minerals (Development and Regulation) Amendment Act, 2015, the lease period for merchant miners, totaling 329, are set to be expired in March 2020. Around 281 of these merchant mines are non-working ones.

Source : Financial Express

voda 5 juni 2019 16:20

0

Outokumpu Bags 3 ISSF Awards For Safety, New Technology& New Development

Finland based leading stainless steel major Outokumpu has received three awards for the year 2019 from the International Stainless Steel Forum including two gold-level awards in the categories of New Technology and New Development as well as a silver-level award in the Safety category. The gold award for best new technology has been given for the bend-formed body structure of small electrified vehicles. The material properties of the temper-rolled austenitic stainless steel combined with the folding principle halve the number of individual components and welds. This results in a much lighter structure (less than 180 kg) with increased crash safety that is constructed by more simple, cost-effective manufacturing processes with shorter cycle times as well as lower CO2-emissions over the whole vehicle lifetime. The technology was developed together with fka Aachen GmbH.

The gold award for best new development has been given for the first use of duplex stainless steel Forta LDX2404 in a major bridge building project. The new duplex stainless steel form developed by Outokumpu was selected for the Söderström rail bridges project in Stockholm, Sweden due to its strength and life cycle costs. The final fabrication of the 48 bridge parts and assembly was done by our partner Stål & Rörmontage.

The silver safety award has been given for the improvements in material loading and unloading. After analyzing near misses and serious incidents, material loading, and unloading was recognized as one of Outokumpu’s biggest hazards. The problem was tackled in more than one way using the hierarchy system or error proofing theory and creating new ways of working. Outokumpu now has an agreed standard for truck loading and unloading which is being implemented at all sites.

Source : Strategic Research Institute

voda 5 juni 2019 16:23

0

Shyam Steel Industries Files DRHP for IPO

Kolkata headquartered Shyam Steel Industries Ltd has filed Draft Red Herring Prospectus for an Initial Public Offering. The IPO consists of a fresh issue of up to INR 200 crore and an Offer for Sale of up to 6,670,000 equity shares. The promoters will sell up to 1,160,300 shares and other shareholders will sell up to 5,509,700 shares through the issue, the firm said in a release.

Axis Capital, Edelweiss Financial Services, SBI Capital Markets and IIFL Holdings are the book running lead managers to the issue and Link Intime is the registrar.

Shyam Steel proposes to utilize the net proceeds from the IPO towards repayment and pre-payment of certain borrowings and general corporate purposes.

The company has installed iron and steel production capacity of 1.6 million tonne, including an installed TMT Rebar production capacity of 0.6 million tonnes.

Source : Strategic Research Institute

voda 5 juni 2019 16:25

0

AISI Announces 2019 Institute Medal Winners

The American Iron and Steel Institute presented its highest technical award, the 2019 Institute Medal, to Chad Cathcart, Hot Strip Quality Assurance Manager at Stelco, for the paper Clean Steel Assessment. His paper was an introduction to clean steel production and measurement, aimed primarily at the young metallurgist beginning their career but is also applicable to the non-metallurgist. The award was presented by AISI Chairman and AK Steel chief executive officer, Roger Newport, during the 2019 General Meeting in Washington, D.C.

Established in 1927, the Institute Medal and two Finalist Medals are awarded for technical papers having special merit and importance in connection with the activities and interests of the iron and steel industry. Papers are judged on the potential value to future prosperity of the industry, technical excellence and originality, effective communication and breadth of interest to AISI members.

Finalist medals were also awarded to:
Grant Thomas, Manager Product Research, AK Steel Research and Innovation
Fadi Abu-Farha, Assistant Professor, Automotive Engineering, Clemson University
Tyson W. Brown, Lab Group Manager, General Motors Global R&D
Louis G Hector Jr, Research Fellow, General Motors Global R&D
Xiaohua Hu, Senior Scientist, Oak Ridge National Laboratory
Yang Ren, Physicist, Argonne National Laboratory
Xin Sun, Director, Energy and Transportation Science Division, Oak Ridge National Laboratory
Hassan Ghassemi-Armaki, Gang Huang, Narayan Pottore and Sriram Sadagopan of ArcelorMittal Global R&D for their paper titled Effect of Al Addition on the Formability of Uncoated Commercial Dual Phase 1180 Steel Products.

Source : Strategic Research Institute

voda 5 juni 2019 16:27

0

ATI Announces Sale of Industrial Forging Operations

Allegheny Technologies Incorporated announced that it has agreed to sell two non-core forging facilities to Wynnchurch Capital LLC for USD 37 million in cash. Wynnchurch Capital LLC, based in Chicago, is a leading middle market private equity investment firm that invests in middle market companies in the United States and Canada which possess the potential for substantial growth and operational improvement. The transaction will close during the second quarter 2019. These facilities, located in Portland, IN and Lebanon, KY, are part of ATI’s High Performance Materials & Components segment. They use primarily traditional forging methods to produce carbon steel forged products for use in the oil & gas, transportation and construction & mining industries.

The sale proceeds from this transaction will be used to further ATI’s capital deployment priorities, principally focused on reducing corporate debt levels and funding pension obligations. With USD 10 million of goodwill allocated to these operations from ATI’s Forged Products reporting unit, ATI’s second quarter results will include an approximate USD 7 million loss on this transaction. Sales from these two forging facilities in 2018 were USD 86 million.

Source : Strategic Research Institute

voda 5 juni 2019 16:28

0

Swedish Steel Prize 2019 Is Now Open For Entry

Applications are now being accepted for the Swedish Steel Prize 2019, the steel industry’s most prestigious award, which celebrates its 20th anniversary this year. The Swedish Steel Prize is an award for ideas and products that have an impact on future steel solutions, and it attracts competitors from across the world. It will be awarded on November 14th, 2019 in Stockholm, Sweden as part of the Swedish Steel Prize 2019 event. Applications are now being accepted. This year marks the 20th anniversary of the Swedish Steel Prize. Over the past two decades, the award has inspired creative engineers, designers and inventors to utilize the endless potential of steel to change our world for the better.

The Swedish Steel Prize is open to any individual, company or institution and is awarded to the method or product that best displays how the properties of the chosen grade of steel has contributed to a significant innovation.

All entries are assessed by an independent jury. Together they review each entry based on its level of innovation, creativity, sustainability, performance and competitiveness. Out of the box thinking as well as entries addressing the environment, digital solutions and new trends in the economy are especially encouraged.

The winner of the Swedish Steel Prize receives a diploma, a statuette by the sculptor Jörg Jeschke and intense media exposure. In conjunction with the Swedish Steel Prize event, SSAB will also make a SEK 100,000 donation to charity.

The prize ceremony takes place at the end of a fascinating and renowned event where participants from across the world meet to learn about new steel technologies, be inspired, network with peers and celebrate innovation.

Source : Strategic Research Institute

voda 5 juni 2019 16:32

0

Steel pricing in US will rally and economy is fantastic - Cliffs CEO

The 21% decline in the price of US-made hot-rolled coil since the beginning of 2019 (down to USD 582.75 per short tons from USD 740 per short tons) has affected companies all along the steel supply chain for better or worse. But the CEO of iron ore miner Cleveland Cliffs sees a big upswing coming. The second half of 2019 will be "fantastic" for steel pricing in the US, Mr Lourenco Goncalves, CEO of Cleveland-Cliffs, said in an interview. The current situation, as he sees it: service centers have no inventory. He said that "The mills will get their pound of flesh, because the service centers allowed things to get a lot worse than they should be.”

Mr Goncalves wants to see higher steel prices because the price of steel HRC -- along with the IODEX and Atlantic pellet premium price benchmarks -- are three factors underpinning Cleveland Cliffs' iron ore contracts for supplying pellets to steel mills. He explained that the price of HRC in the US is affected mostly by the buying behavior of service centers and by the buying pattern of scrap by the mini-mills.

Mr Goncalves said that "If the mini-mills stop buying scrap and allow scrap prices to go down and at the same time service centers go on a buyers' strike, the price of hot-rolled goes down adding that it is part of the usual, seasonal procurement behavior.”

He added that "It happens every year around June/July when people are on vacation and the automotive sector is changing over for the new-model vehicles; that happens every year. The only difference this year is that it started sooner because of [US President Donald] Trump and all this noise around trade."

Source : SP Global

voda 5 juni 2019 16:34

0

GMS Market Commentary on Shipbreaking in BANGLADESH in Week 22 - Minimal Interest!

Absolutely minimal interest has been emanating from the Bangladesh market this week – even on vessels just about capable of arriving before the budget date of June 13th. A majority of the local yards are increasingly full, given that a bulk of the market tonnage sold during the first six months of this year have ended up in Chattogram. Moreover, with negative news on duties and tariffs expected in the upcoming budget on June 13, demand will certainly be much softer from this market, especially over the next few weeks.

Overall, sub-continent summers / monsoons have traditionally been a quieter period, when adverse weather and constant rains / tropical cyclones batter the area (especially in Bangladesh), hampering cutting speeds and subsequently sending most laborers to their hometowns, given that activity is always so muted.

Source : Strategic Research Institute

voda 5 juni 2019 16:37

0

Tees Leaders Pledge To Fight For Jobs At First British Steel Summit

Gazette Live reported that South Bank-born Business Secretary Greg Clark convened the meeting in Doncaster, attended by local MPs, Tees Mayor Ben Houchen, British Steel management and steel unions. The group reaffirmed its commitment to keeping British Steel alive safeguarding 700 direct jobs at Skinningrove and Lackenby, and many thousands more in the supply chain. The company was put into liquidation in May, but progress has already been made in securing a new buyer for the business.

Mr Clark said he wanted to harness the passion and experience of everyone in the group and said its first priority is to continue supporting the Official Receiver through the sale process. He said that "We also send our thanks and appreciation to British Steel’s highly skilled and talented workforce who, despite facing an understandably worrying time, have continued to lead the company to record levels of steel production testament to their commitment and hard work. The world will always need steel and British Steel is amongst the best in the world."

After the meeting, Labour MP for Redcar Anna Turley said the Business Secretary had brought an "open and inclusive" style of working that was "desperately lacking" when SSI in Redcar was closed in 2015.

She said that "We know all too well from the experience of 2015 that swift action is crucial and a repeat of that appalling failure is something everyone is determined to avoid. We are continuing to pursue every possible avenue to find a suitable buyer who is committed to the industry and its workforce, and the group will meet regularly until that is secured."

Middlesbrough South and East Cleveland Tory MP Simon Clarke said it was heartening that all those involved were "singing from the same hymn sheet and making sure we get the right outcome". He continued that "The process is now underway of interested parties submitting their interest, making sure they get access to the data, which is if you like the engine room of the business, and then we can move forward from there."

Tees Mayor Ben Houchen said there was optimism at the meeting said that "There's a lot of interest. A lot of interested buyers in British Steel as a whole and we're here to represent the Teesside interests, in Skinningrove and Lackenby. We need to make sure that in a worst case scenario that British Steel wasn't sold as a whole - althought there is a consensus that it is the most likely option - there is a fall back that we save those jobs on Teesside. That's the most important thing for us."

Source : Gazette Live

voda 5 juni 2019 16:38

0

AK Steel’s Coshocton Works and Zanesville Works Receive Awards for Outstanding Safety Performance

AK Steel’s Coshocton Works and Zanesville Works have been recognized for outstanding safety performance by the Ohio Bureau of Workers’ Compensation, Division of Safety and Hygiene. The recognition is part of a collaborative safety awareness program established by the Coshocton County Safety Councils and Chamber of Commerce and by the Zanesville Muskingum County Safety Council.

AK Steel’s Coshocton Works received the “Special Award for Safety” for operating 684,207 hours without a lost-time injury between September 27, 2017 and August 17, 2018.

AK Steel’s Zanesville Works received the “Special Award” for safety for operating 5,894,463 hours without a lost-time injury between April 21, 2003 and December 31, 2018. The plant received the “100% Award” for safety for operating the entire year of 2018 without any lost-time injuries or illnesses. Zanesville Works also received the “Group Award” for having the lowest incident rate in each employer group.

Source : Strategic Research Institute

voda 5 juni 2019 16:39

0

Greybull Capital May Bid For British Steel’s Non UK Assets - Report

City AM reported that Greybull Capital, the private equity firm which owned British Steel until it collapsed last month, is reportedly gearing up to bid for the firm’s operations in France and the Netherlands. The private equity firm reportedly hopes to merge the European operations with a French steelmaker it bought last month, Ascoval. Such a move would create a new steel business on the continent from the remnants of the British company.

A spokesperson for Greybull said “Ever since we rescued British Steel in 2016 Greybull Capital has been committed to supporting the company to the best of our ability. That commitment remains despite recent events. As a result we will explore all options to help the company find the best sustainable solution for the good of its employees, customers and all involved.”

The move would mean Greybull dispenses with British Steel’s UK business. It bought the firm from Tata Steel for GBP 1 three years ago.

Source : City AM

voda 5 juni 2019 16:39

0

Wan Chiong Steel Gets DTI Clearance

Manila Standard reported that Department of Trade and Industry lifted the suspension of Pampanga-based Wan Chiong Steel Corp after tests showing the company complied with product standards. Bureau of Product Standards director Mr James Empeno lifted the suspension in an order he signed on May 2, 2019.

Wan Chiong Steel spokesperson Ms Joela Cabunillas said that “We would like the public to know that our suspension has been lifted. We cry foul over news reports that the public is being warned against buying our products. This is due to business competition. But it is time that our side is heard.”

She added that “We have complied with DTI’s requirements, and again, our suspension order has been lifted last May 2, 2019. We urge the public to be mindful about the truthfulness, and the veracity of the news reports peddled about our company.”

Source : Manila Standard

Vertraagd	21 feb 2025 17:35
Koers	27,050
Verschil	+0,230 (+0,86%)
Hoog	27,270
Laag	26,840
Volume	1.778.340
Volume gemiddeld	2.637.315
Volume gisteren	2.493.470

11 feb	Von der Leyen verwerpt Amerikaanse im...	2
10 feb	Trump dreigt met importheffingen op s...
09 feb	ArcelorMittal en Aperam weekwinnaars
07 feb	Deutsche Bank verhoogt koersdoel Arce...
06 feb	Beursblik: ArcelorMittal overtreft ve...
06 feb	AEX opent waarschijnlijk hoger. Let o...	2
06 feb	ArcelorMittal ziet verlies afnemen	1
05 feb	Beursblik: beter vierde kwartaal bij ...
03 feb	Deze 5 aandelen kunnen deze week voor...
03 feb	Video: optimisme beursexperts volledi...	1

Arcelor Mittal « Terug naar discussie overzicht

Nieuws en info hier plaatsen (deel 4)

Meedoen aan de discussie?

Direct naar Forum

Detail

ArcelorMittal nieuws meer