Arcelor Mittal « Terug naar discussie overzicht

Nieuws en info hier plaatsen (deel 4)

voda
0
Klaarte nabij voor Arcelor om Essar-deal

Gepubliceerd op 3 jul 2019 om 16:55 | Views: 0

ArcelorMittal 16:45
15,48 -0,12 (-0,77%)

DELHI (AFN/BLOOMBERG) - Staalconcern ArcelorMittal krijgt op korte termijn duidelijkheid over de ophanden zijnde overname van de failliete branchegenoot Essar Steel. Het hof van beroep in India oordeelt donderdag 4 juli of een verkoop van Essar al dan niet kan doorgaan, zo valt op te maken uit het zittingsrooster.

ArcelorMittal kreeg eerder nog toestemming om samen met Nippon Steel Essar over te nemen. De twee partijen zouden op voorhand 6 miljard dollar betalen aan schuldeisers van Essar. Standard Chartered is één van hen. Die bank stel de echter dat de compensatie onvoldoende is.

De rechter besloot daarop het verkoopproces tijdelijk stop te zetten om een beslissing te kunnen nemen over meerdere beroepen in de zaak.
voda
1
Vale CFO, Ex CEO Should be Indicted for Murder - Brazil Senate Panel

Reuters reported that a Brazilian Senate committee probing a deadly dam collapse recommended that iron ore miner Vale SA’s CFO and former CEO should be indicted for murder. The 400 page report recommended that a total of 15 individuals be indicted for murder, wrongful bodily injury, environmental damages and pollution. The committee is also seeking the indictment of Vale and dam stability auditor TÜV SÜD for environmental damages and corporate responsibility for actions of their employees in the late-January disaster that killed nearly 250 people.

The committee’s initial report recommended manslaughter charges but at a hearing it approved an amendment to upgrade the charges to murder and add a 15th individual to its list for recommended indictments.

The nonbinding recommendations could influence prosecutors in their ongoing probe of Vale and its executives for negligence regarding the disaster.

Mr Fabio Schvartsman stepped down as Vale’s CEO under pressure from prosecutors in March. Mr Luciano Siani, also targeted by the committee, continues to serve as CFO.

Vale said it respectfully disagrees with the indictment recommendations. It said “A forensic, technical and scientific conclusion about the causes of the dam burst should be arrived at before holding certain people responsible.”

Source : Reuters
voda
0
Australia’s Iron Ore Exports to Drop for the First Time in 18 Years

Bloomberg, citing the Department of Industry, Innovation and Science, reported that iron ore exports from Australia are set to post the first annual drop in almost two decades following bad weather and output setbacks, worsening a global shortage and bolstering prices that have already surged to a 5 year high. Futures advanced. The world’s top shipper cut its 2019 forecast to 814 million tonne from 867 million in March and boosted its estimate for this year’s average price by almost 20%. That would be the first contraction since 2001. Last year, Australian exports totaled 835 million tonne. Iron ore has soared above USD 100 a tonne, driven by the twin forces of supply disruptions in Brazil and Australia and strong demand from steel mills in China. This will push the value of Australia’s exports to USD 55 billion in fiscal 2020, reflecting higher prices that are largely due to Vale SA’s dam disaster in January.

The Department said that “The iron ore price is expected to be higher than previously forecast and for a longer period due to the limited capacity of other operations in Australia and elsewhere to ramp up and replace Vale’s production loss of high-grade supply, at least in the short term.”

Rio Tinto Group and BHP Group both revised down their annual production outlooks in the wake of Cyclone Veronica in the first half, and Rio in June further lowered its output target after problems at its sprawling operations in Western Australia.

Source : Bloomberg
voda
0
MMTC Pact for Iron Ore Export to Japan and Korea Benefits Visakhapatnam Port

The Hindu reported that the three-year agreement signed by Metals and Minerals Trading Corporation for export to Japan and Korea has helped Visakhapatnam Port Trust to register impressive performance during the first quarter of the current fiscal brightening the hope that it will improve its ranking next year. The port had handled an extra quantity of 1.2 million tonnes over the corresponding period last year. Going by the trend, the port officials were planning to achieve 68 million tonne cargo volume by end of the financial year. VPT had ranked fourth leading port in traffic during last fiscal after Kandla, Paradip and JNPT. This year, VPT Chairman Mr Rinkesh Roy said recently that they were confident of improving their ranking due to changes brought about in its techno-economic parameters.

Significantly, the port also saw increase in crude and POL, which was attributed to the expansion of HPCL Visakh Refinery. The refinery modernisation project envisages increasing the capacity from 8.33 to 15 million tonne.

Source : The Hindu
voda
0
thyssenkrupp commits to be climate-neutral by 2050

German steelmaker thyssenkrupp aims to be climate neutral from 2050 onwards, the company says in a statement.

The announced targets take into consideration thyssenkrupp’s own production operations, the energy it purchases, and its products. In steel production, for example, tk is pursuing two approaches to reducing CO2 emissions (see Kallanish passim). The Carbon2Chem project is expected to be available on an industrial scale before 2030. The so-called hydrogen route, which should take full effect by 2050 and make the biggest contribution to directly avoiding CO2, will replace coal with “green” hydrogen as the reducing agent for blast furnaces.

As early as 2030, the German group plans to cut emissions from production and outsourced energy by around -30%. The goals are based on the Paris Climate Agreement of 2015, tk notes. “As an industrial company with operations around the globe we are in a particularly good position to reduce greenhouse gas emissions through sustainable products and processes. We take this responsibility very seriously,” says ceo Guido Kerkhoff.

Other key areas include the e-mobility sector, where thyssenkrupp supplies battery production lines and special steels for electric motors. The group is also involved in the development of energy storage solutions. These include electrolysis systems that convert electricity into hydrogen, and a technology for the cement industry that allows CO2 emissions from the combustion processes to be captured for subsequent storage or processing.
voda
0
VS pakken dumping stalen velgen uit China aan

(ABM FN-Dow Jones) Het Amerikaanse ministerie van handel heeft prijsdumping en gelijktijdige staatssubsidie vastgesteld bij Chinese exporteurs van stalen velgen en heeft een procedure in gang gezet om de schade te verhalen. Dat maakte het ministerie woensdag bekend.

Het gaat om Chinese stalen velgen voor grote banden, zonder binnenband, van 12 tot 16,5 inch, waarvan in 2017 voor een bedrag van 74 miljoen dollar werd ingevoerd in Amerika. Deze werden volgens de Amerikaanse autoriteiten ruim onder de marktwaarde verkocht door Chinese exporteurs, terwijl producenten door de overheid werden gesubsidieerd.

Het aantal Amerikaanse onderzoeken naar dit soort gevallen van prijsdumping is een prioriteit van de regering Trump en is sinds diens aantreden verdrievoudigd.

Het bedrijf Changzhou Chungang Machinery verkocht de velgen volgens de gegevens die de Amerikanen kregen ruim 38 procent goedkoper dan de marktwaarde. China-breed stelde het ministerie deze dumpingmarge op 44 procent. Het Chinese bedrijf Zhejiang Jingu ontving een subsidie van 388 procent. Op basis daarvan stelt het ministerie voor alle andere Chinese producenten in deze markt de subsidie vast op 387 procent.

Het ministerie zal rond 15 augustus bekendmaken welke schade zal worden verhaald.

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

© Copyright ABM Financial News B.V. All rights reserved.
voda
0
Overnamesom Arcelor gebruikt om schuldeisers Essar Steel af te betalen - media

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal (NYSE)
$ 17,405 -0,075 -0,43 % NYSE

(ABM FN-Dow Jones) De Indiase ondernemerskamer heeft besloten dat de schuldeisers van het failliete Essar Steel circa 60 procent van hun vorderingen ontvangen uit de betalingen van ArcelorMittal. Dit meldde persbureau Bloomberg donderdag.

ArcelorMittal is al een tijd bezig met de overname van de failliete sectorgenoot Essar Steel.

Eind oktober 2018 stemden de financiers van Essar Steel in met het bod van ArcelorMittal ter waarde van 5,7 miljard dollar en de bereidheid 1,1 miljard dollar in Essar Steel te investeren.

De ondernemerskamer, het National Company Law Appellate Tribunal, oordeelde dat de verkoopopbrengsten proportioneel verdeeld zullen worden over de schuldeisers, aldus Bloomberg.

De schuldeisers zullen een accountantsbureau inhuren om de transacties te begeleiden.

Daarnaast verwierp het NCLAT volgens het persbureau ook het beroep van Prashant Ruia, lid van de Ruia-familie, de oprichters van Essar Steel, tegen de verkoop van het bedrijf aan ArcelorMittal.

Het aandeel ArcelorMittal noteerde donderdag op een vrijwel vlak Damrak 2,4 procent hoger op 15,81 euro.

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

© Copyright ABM Financial News B.V. All rights reserved.
voda
0
ArcelorMittal haalt 250 miljoen op met obligatie

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal (NYSE)
$ 17,405 -0,075 -0,43 % NYSE

(ABM FN-Dow Jones) ArcelorMittal heeft met een zogenaamde 'tapuitgifte' 250 miljoen euro opgehaald. Dit meldde de staalreus donderdag.

Het rendement op de obligatie bedraagt tot het einde van zijn looptijd op 17 januari 2024 0,994 procent bij een vaste couponrente van 2,250 procent.

De obligatielening zal worden samengevoegd met een bestaande obligatielening van 750 miljoen euro.

Het aandeel ArcelorMittal noteerde donderdag op een groen Damrak 1,6 procent hoger op 15,71 euro.

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

© Copyright ABM Financial News B.V. All rights reserved.
voda
0
JSPL Angul Posts Record Production of Hot Metal

Jindal Steel & Power Limited announced that its Blast Furnace at Angul Odisha has produced its highest ever Hot Metal production of 10845 tonnes for a single day on 2nd July 2019. It is also reported that this is the ever highest production produced by any of the BFs in India.

The furnace is stable for the last one week and has continuously produced more than 10,000 Tons per day. The largest BF of country having volume of 4554 m3 is running smoothly to cater the maximum need of hot metal for 6 MTPA capacity of Steel Melt Shop.

It is noteworthy that JSPL's 6MTPA Integrated steel making complex at Angul is the most modern and Odisha's largest integrated steel plant.

Source : Strategic Research Institute
voda
0
US laps Duties on CR & Coated Steel from Vietnam Originally Produced in South Korea & Taiwan

The US Department of Commerce has announced preliminary rulings on the circumvention inquiries into Vietnamese cold rolled steel and corrosion-resistant steel exports made from materials imported from Taiwan and South Korea, imposing duties of up to 456%, after it found corrosion-resistant steel products and cold-rolled steel produced in Vietnam using substrate of South Korean or Taiwanese origin had circumvented US anti-dumping and anti-subsidy duties. The department will temporarily apply circumvention measures by collecting cash deposits on them. The applicable cash deposit rates depend on the origin of the substrate and the type of steel product exported to the US.

US DOC is expected to announce the final rulings in September this year

Commerce Department inquiry was initiated at the request of ArcelorMittal US, Nucor Corp, United States Steel Corp, Steel Dynamics Inc, California Steel Industries and AK Steel Corp.

Source : Strategic Research Institute
voda
0
Latest Weakening Further Undermines Rationale of EU Steel Safeguard – EUROFER

European Steel Association announced that the EU steel safeguard, ostensibly designed to ward off import surges in the wake of the US’ section 232 steel import tariffs, has been automatically raised by 5% despite steel industry protests and the expressed concerns of a number of Member States. This significant rise in the size of the import quota, the second this year, is happening even as steel demand in the EU is expected to fall in 2019. Mr Axel Eggert DG EUROFER said “The 5% rise in the quota was programmed into the regulation that implemented the EU safeguard measures. However, there is an ongoing review that should take into account the changed market situation. The 5% increase has not been removed despite the damage caused by surging imports and means the Commission has ignored the industry’s legitimate concerns about increasing the quota in a falling market. This is irrational as it will make the review more complicated.”

He said “We, as a sector, have called on policy makers not to raise the quota, as the stepped increase is out of line with the size and direction of the market. Coming from 2018, when imports boomed by a record 12% bringing their share of the market to an all-time high, it is extraordinary that the Commission would not act to at least postpone this pre-programmed change until the review has been terminated.”

Mr Eggert continued, “As it stands, for a large part of our industry, the safeguard is already barely functioning for its intended purpose. The rise in the quota, which is already being consumed apace with import volumes already awaiting allocation, is merely the cherry on the imported cake. We call on the Commission to heed our call and those of Member States that have already expressed concerns about the rise and to respond by undoing this out-of-step expansion before it further undermines the safeguard and the sector that relies upon it.”

Source : Strategic Research Institute
voda
0
German IG Metall Trade Union Calls for Protectionist Measures

On Saturday about 30,000 people took to the streets of Berlin in response to a call by the Germany’s biggest trade union IG Metall for a change in the country’s industrial policy for trade warfare, promote nationalism and prepare the way for mass job losses. IGM chairman Mr Jörg Hofmann said “There are newly emerging economic powers re-organising the global playing field. The spheres of power across our globe are being re-tabulated. This is provoking trade wars and contributes to heightening tensions in already existing trouble spots.”

Rather than opposing trade war, IG Metall is intent on pursuing it with all its might. Hofmann called for a strong European Union to prevent imports, such as steel, from being dumped on the European market ie protectionist measures.

In order to best position the German economy against its global competitors, IG Metall offers to use its extensive bureaucratic apparatus to enforce the necessary layoffs and wage cuts. In his speech, Hofmann made no mention of defending existing jobs, but railed instead against transformational short-time work, future arrangements and further education.

Source : Strategic Research Institute
voda
0
SC Stays Punjab HC Order on BPSL Takeover by JSW Steel

The Supreme Court on Wednesday paved the way for the Delhi bench of the National Company Law Tribunal to pronounce its orders on approval of JSW Steel’s INR 19,350-crore bid for debt-ridden Bhushan Power and Steel, which is under insolvency process.

Expressing surprise on how the Punjab and Haryana High Court had intervened in the resolution process of BPSL, a bench led by Justice RF Nariman stayed the HC order that had asked the committee of creditors and the NCLT to consider the objections raised by the former directors of the company before finalising any resolution plan.

Source : Indian Express
voda
0
Severstal Acquires 26% Stake in JV with Linde

Severstal announced that it has signed an agreement to purchase a share in a joint venture with Germany’s Linde AG. The JV produces coil-wound heat exchangers for use at medium-scale and large-scale LNG plants. Upon completion of the transaction Severstal will control a 26% stake, and Linde a 74% stake in the joint venture.

The joint venture was set up in June 2017 under a scheme to localize the manufacturing of coil-wound heat exchangers within Russia. The plant will manufacture up to six coil-wound heat exchangers per year, including large-scale heat exchangers. The plant is expected to reach its full production capacity in 2020-2021.

The acquisition of the stake in the joint venture is fully consistent with one of the main approaches of Severstal’s updated strategy; closer cooperation with clients and providing them with customized solutions as a part of our strategy “Superior client experience”.

Source : Strategic Research Institute
voda
0
thyssenkrupp Aims to be Climate Neutral By 2050

thyssenkrupp aims to be climate neutral from 2050 onwards. As early as 2030 the Group plans to cut emissions from production and outsourced energy by around 30 percent. Emissions from the use of thyssenkrupp products are to fall by 16 percent by 2030. thyssenkrupp’s new climate strategy is based on the Paris Climate Agreement of 2015. The targets now announced take in thyssenkrupp’s own production operations, the energy it purchases and its products. In steel production, for example, thyssenkrupp is currently pursuing two approaches to reducing CO2 emissions: The Carbon2Chem project, which is expected to be available on an industrial scale before 2030, and the so-called hydrogen route, which should take full effect by 2050 and make the biggest contribution to directly avoiding CO2. Carbon2Chem converts steel mill emission gases, including the CO2 they contain, into valuable chemicals. thyssenkrupp’s hydrogen route involves replacing coal with “green” hydrogen as the reducing agent for blast furnaces so that in the long term no CO2 is created in the production of steel. These technologies are being funded by the German federal government and the state of North Rhine-Westphalia.

Under its Climate Action Program for Sustainable Solutions thyssenkrupp will also systematically work to make its products carbon neutral. The Group already offers a technology for the cement industry that permits CO2 emissions from the combustion processes to be captured for subsequent storage or processing. In the area of sustainable mobility

Other key areas include the e-mobility sector, where thyssenkrupp supplies battery production lines and special steels for electric motors. The Group is also actively involved in the development of energy storage solutions, for example with electrolysis systems that convert electricity into hydrogen. These storage systems allow a constant supply of electricity from renewables regardless of the weather.

Source : Strategic Research Institute
Bijlage:
voda
0
CMC Announces Retirement of Ms Mary Lindsey

Commercial Metals Company announced retirement of Ms Mary A Lindsey s Senior Vice President and Chief Financial Officer of the Company effective as of August 31, 2019. Ms Lindsey joined the Company in September 2009 as Vice President-Tax. She was appointed Vice President-Tax and Investor Relations in June 2015, Vice President and Chief Financial Officer in January 2016 and Senior Vice President and Chief Financial Officer in September 2017. She has been a constant contributor to the Company over her many years of service.

In accordance with the Company’s normal succession planning, the Company has also announced that effective September 1, 2019, Mr Paul J Lawrence will assume the role of Vice President and Chief Financial Officer for the Company, reporting to Ms Barbara R Smith, Chairman, President and CEO. In this position, Lawrence will have responsibility for all financial and IT functions of the Company. Lindsey will remain employed with the Company for a period of time to ensure a smooth transition of the CFO role to Lawrence.

Mr Lawrence joined the Company in February 2016 as Vice President of Finance. He was appointed Vice President of Finance and Treasurer in September 2016 and his role was expanded to include Financial Planning and Analysis in January 2017. Prior to joining the Company, from 2003 to 2016, Mr Lawrence worked for both Gerdau Long Steel North America, a US steel producer, and Gerdau Ameristeel Corporation, where he held a variety of financial roles, including Assistant Vice President and Corporate Controller, and Deputy Corporate Controller. From 1998 to 2002, Mr Lawrence held several financial positions with Co-Steel Inc., which was acquired by Gerdau SA. Mr Lawrence graduated with an Honors Bachelor’s degree of Commerce from Queen’s University, Kingston, Ontario in 1992 and is a Chartered Professional Accountant.

Source : Strategic Research Institute
voda
0
Additive Manufacturing to Generate USD 100 Billion Economic Value in ASEAN by 2025

thyssenkrupp presented a white paper on additive manufacturing potential in the ASEAN region, a comprehensive research undertaken by the company as a prelude to the official launch of its AM TechCenter Hub in Singapore. Titled “Additive Manufacturing: Adding Up Growth Opportunities for ASEAN”, the white paper provides deep insights and perspectives on the state of additive manufacturing in the ten member countries of ASEAN. The paper was developed by thyssenkrupp with the support and contribution of a multidisciplinary team of experts and partners in Singapore including the global industrial 3D printing leader EOS GmbH and the National Additive Manufacturing Innovation Cluster. The research shared exciting prospects for additive manufacturing in the ASEAN region, where current penetration is still relatively low despite wider acceptance globally.

The extensive study noted several key highlights:

AM penetration in ASEAN today is small, accounting for only 5 to 7% of Asia’s total AM spend estimated at USD 3.8 billion for 2019. However, there is huge potential for the ASEAN market given its contribution to the global manufacturing output. Manufacturing accounts for 20% of the region’s GDP, employs nearly 50 million workforce and is expected to grow at least three times in the near future.

Additive manufacturing is estimated to generate around USD 100 billion of incremental value by 2025, impacting ASEAN’s projected real GDP by 1.5 to 2%

Opportunities via additive manufacturing will enable the reduction of ASEAN’s import dependence with the potential to impact at least $30 to 50 billion by localizing manufacturing closer to consumption and reducing overall import dependence byup to 2% for the region

It can also contribute in sustainable development and improve ASEAN’s competitiveness in already established global value chains across key sectors such as Automotive, Electronics, and Chemicals, as well as accelerate the region’s growth in industries like Aerospace, Medical Devices, and Healthcare.

Additive manufacturing would enable the ASEAN region to further advance its Industry 4.0 and skills development focus, and promote local entrepreneurship with the potential to create 3 to 4 million additional AM jobs for the region by 2030.

The white paper comes at the heels of the establishment of thyssenkrupp’s Additive Manufacturing TechCenter Hub in Singapore. The TechCenter Hub, supported by the Singapore Economic Development Board (EDB), serves as the regional hub for the company’s existing TechCenter in Mülheim an der Ruhr in Germany. The Singapore Hub, along with the Mülheim TechCenter, will focus on innovations around additive manufacturing solutions in metal and plastic technologies for customers in marine and offshore, automotive, cement, chemical, mining and other heavy industries.

The presentation of the research was held at the official launch of the Singapore AM TechCenter Hub, which was attended by top executives from thyssenkrupp AG, representatives from the Singapore Economic Development Board, and key business partners and customers of thyssenkrupp in Asia Pacific. The launch was formally marked with a signing ceremony presided by Dr Donatus Kaufmann, Executive Board Member of thyssenkrupp AG, and Mr Lim Kok Kiang, Assistant Managing Director, EDB.

Source : Strategic Research Institute
voda
0
Steel Strips to Merge with SAB Industries

The board of directors approved the Scheme of Amalgamation for Steel Strips Limited with SAB Industries Limited. The Appointed Date for Amalgamation under the Scheme is 1st April, 2019. SSL was engaged in the manufacturing of steel billets, ingots, rounds and flats etc. However, the steel business of the company could not survive due to severe recession in Steel industry and its previous activities becoming un-competitive. At present Company is neither having any manufacturing activity nor carrying any operations.

The Company said that "Every Shareholders / Members of Transferor Company holding 350 (Three Hundred Fifty) Equity Shares of INR 10 each fully paid up in the Transferor Company will get 1 (One) Equity shares of INR 10 each fully paid up in Transferee Company.

The Scheme shall be subject to the approval of the Shareholders, Creditors, Securities and Exchange Board of lndia, Reserve Bank of India, the Stock Exchanges where equity shares of the Company are listed, the Income Tax Authorities, the Registrar, Official Liquidator, the National Company Law Tribunal, and / or such other competent Statutory / Regulatory Authorities as may be required under applicable law.

Source : Strategic Research Institute
voda
0
Canada Funds Apollo Machine and Welding for 3D Printing Equipment

Canada’s Minister of Natural Resources and MP for Edmonton Mill Woods announced CAD 447,480 in funding for Apollo Machine and Welding Ltd. With this funding, Apollo-Clad Laser Cladding, a division of Apollo Machine and Welding Ltd, will purchase, modify, and install equipment for large-scale 3D printing to increase productivity and capacity.

The funding is provided under the Regional Economic Growth through Innovation Steel and Aluminum Initiative, announced in March 2019 and delivered by Canada’s regional development agencies. Investments under REGI provide support to Canadian small and medium-sized businesses in the steel, aluminum, and manufacturing sectors for projects that enhance productivity, increase competitiveness through new technologies, and create new jobs.

Source : Strategic Research Institute
voda
0
POSCO Wins Lower US Duties on Cut to Length Steel Plate

Bloomberg Tax reported that South Korean manufacturer POSCO will get reduced anti subsidy duties on its carbon and alloy steel cut-to-length plate from South Korea, the Commerce Department announced July 1. In an investigation of plate that entered the US in 2015, Commerce originally hit POSCO with a countervailing duty rate of 4.31%. POSCO sued, and the US Court of International Trade twice.

Cut-to-length plate is used in a range of applications, including bridgework, transmission towers, light poles, agriculture equipment, construction, mining, and heavy transportation.
Bloomberg Tax

news.bloombergtax.com/international-t...

Source : Bloomberg Tax
35.173 Posts, Pagina: « 1 2 3 4 5 6 ... 1011 1012 1013 1014 1015 1016 1017 1018 1019 1020 1021 ... 1755 1756 1757 1758 1759 » | Laatste
Aantal posts per pagina:  20 50 100 | Omhoog ↑

Meedoen aan de discussie?

Word nu gratis lid of log in met uw e-mailadres en wachtwoord.

Direct naar Forum

Detail

Vertraagd 8 mei 2024 17:37
Koers 23,610
Verschil -0,360 (-1,50%)
Hoog 23,940
Laag 23,560
Volume 2.558.342
Volume gemiddeld 2.566.451
Volume gisteren 3.131.701