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voda 29 maart 2023 10:23

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RA Mandates to Buy American Steel for High Speed Rail

US’s Federal Railroad Administration has issued a notice to encourage the development of high-speed rail system projects that operate at speeds above 160 miles per hour through domestic sourcing plans and Buy America compliance. The FRA has established a streamlined process for reviewing domestic sourcing and workforce plans to advance the HSR projects. Project sponsors can voluntarily submit their domestic sourcing and workforce plans for review before applying for federal financial assistance, including the Federal-State Partnership for Intercity Passenger Rail Program (FSP-National), Railroad Rehabilitation and Improvement Financing (RRIF), or other applicable USDOT programs.

The FRA expects all applicants to comply with Buy America requirements without needing a waiver. However, to obtain a waiver, an applicant must be prepared to demonstrate how they will maximize the use of domestic goods, products, and materials in constructing their project. If an applicant anticipates it may need a waiver, the applicant should indicate the need in its application and submit materials necessary for such requests together with its application.

The FRA recognizes that the domestic manufacturing ecosystem for high-speed rail will require investment, and HSR project sponsors may plan to seek a waiver for certain goods, products, and materials used in safety- and performance-critical HSR technology systems, such as track, power supply, train control, and rolling stock. Typically, project sponsors wait until after their project has been selected for award before requesting potential Buy America waivers. However, the complexity and size of HSR projects necessitate aligning any waiver and associated implementation plan with application evaluation processes.

voda 29 maart 2023 10:42

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Beursblik: UBS verhoogt advies ArcelorMittal van Verkopen naar Kopen

Koersdoel ook omhoog.

(ABM FN-Dow Jones) UBS heeft het advies voor ArcelorMittal verhoogd van Verkopen naar Kopen met een koersdoel van 30,70 euro. Dat was eerder 26,00 euro. Dit bleek uit een analistenrapport van de Zwitsers dat woensdag werd gepubliceerd.

UBS besloot tot de adviesverhoging na de recente correctie in de aandelenkoers van 15 procent in de afgelopen drie weken, ondanks betere vooruitzichten en staalprijzen. Daarnaast stelde de bank dat de vooruitzichten voor de lange termijn ook verbeteren.

UBS verhoogde de prognose voor de EBITDA voor het lopende boekjaar met 14 procent naar 7,9 miljard dollar. De ramingen voor investeringen voor de periode 2024 tot en met 2027 gingen omlaag, waardoor die voor de vrije kasstroom met 8 tot 14 procent omhoog konden.

Klanten zijn bereid substantieel meer te betalen voor staal met een laag koolstofgehalte, waarmee de marges voor de langere termijn minder druk zullen ondervinden, aldus UBS.

Het aandeel ArcelorMittal noteerde woensdag op een groen Damrak 2,1 procent hoger op 26,97 euro.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

voda 29 maart 2023 10:58

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Vijf vragen
’Geen effect’ schonere productie Tata Steel
Door THEO BESTEMAN

Updated Gisteren, 20:39
Gisteren, 20:36
in FINANCIEEL

Tata Steel stelt miljoenen in schonere staalproductie in IJmuiden te steken. Het RIVM ziet echter geen afname van kankerverwekkende stoffen in de regio IJmond. Net als drie jaar geleden vond het te veel lood en kankerverwekkende PAK-verbinding. Zoveel ’dat dit ongewenst is voor de gezondheid van jonge kinderen’, aldus het RIVM in zijn derde onderzoek.

De Tata Steel-fabriek gezien vanuit IJmuiden ANP/HH

1 Waarom blijft dit een probleem?
Tata Steel behoort tot de grootste vervuilers in Nederland. Na neergedaalde wolken met grafiet in omliggende dorpen, concluderen artsen en het RIVM dat er een gevaar is voor de volksgezondheid. Het in 1918 opgerichte staalbedrijf beloofde na zware protesten en rechtszaken van omwonenden, een historisch unieke strafrechtelijke vervolging en voorbereide procedures tegen Tata-bestuurders, de staalproducent grondig te vernieuwen. Volgens zijn Roadmap 2030 Plus-plan gaat de opvolger van Hoogovens staal maken zonder steenkool, maar met schone energie van windmolenparken voor IJmuiden.

Het RIVM deed honderden metingen in tuinen rondom Tata. Onderzoekers zien ’geen duidelijk meetbaar effect’ van de ingrepen, al is fors minder ijzer aangetroffen. Tata’s aanpak is daarmee voorlopig onvoldoende om die gezondheidsrisico’s te beperken.

2 Hoe reageerde Tata?
Het zegt dat het RIVM niet de herkomst van de neergedaalde stof heeft onderzocht. Of de giftige stoffen van Tata zijn zou onduidelijk blijven. ’Andere bronnen’ zouden ’een substantiële bijdrage’ hebben geleverd in uitstoot van lood, zink en koper. Een ’aanmerkelijk deel’ van de stofdeeltjes is wel degelijk tot Tata Steel te herleiden, reageren RIVM-onderzoekers.

3 Tata Steel zou toch vernieuwen?
De staalmaker bouwt nog aan een windscherm, afzuigersystemen en een installatie die de uitstoot van lood, zware metalen en stof moet verminderen. Maar ze werken nog niet. Uit dit RIVM-rapport blijkt dat vorige Tata-ingrepen de uitstoot niet beperken. Dit zelfstandige bedrijfsonderdeel van de Indiase Tata Steel Group zei eerder dat uit eigen onderzoek blijkt dat de PAK-uitstoot is ’gehalveerd’. ’Ongeloofwaardig’, zo reageerden omwonenden. Het RIVM rapporteerde dinsdag een veel hogere PAK-uitstoot.

Directeur Hans van den Berg wil één miljard euro overheidssteun voor ’vergroening’. Tata Steel stelt dat het moederbedrijf reserveert. „Maar dat geld uit India is helemaal niet meer beschikbaar voor Tata Steel Nederland”, claimt Jan de Jong van de stichting Schapenduinen na boekenonderzoek.

4 Wat vinden omwonenden?
De stemming is verdeeld: van versterkte woede tot berusting. De dorpsraad van Wijk aan Zee en Frisse Wind zijn ’boos en teleurgesteld’. „Vijf jaar na de grafietregens zijn er wéér te veel PAK’s, lood en zware metalen gemeten”, zegt Sanne Walvisch van Frisse Wind. „Tata Steel claimt al jaren te werken aan groen staal in een schone omgeving. Maar in onze omgeving is er niks verbeterd.”

Anderzijds zijn er werknemers en omwonenden die zeggen van oudsher niet beter te weten: uitstoot van zo’n grote staalmaker hoort erbij in de IJmond. Liefst zo min mogelijk natuurlijk. Personeel, familie en mkb koesteren de werkgelegenheid.

Wel hebben meer werknemers dan vroeger hun zorgen geuit vanwege het aantal mensen dat vanwege giftige stofdeeltjes aan kanker zou zijn overleden.

5 Wat gebeurt er nu?
De provincie heeft als toezichthouder gewaarschuwd dat Tata Steel snel zijn gedrag moet verbeteren. De Omgevingsdienst Noordzeekanaalgebied legde vele dwangsommen op voor illegale uitstoot. Aan die boetereeks komt een einde, waarschuwde gedeputeerde Jeroen Olthof in De Telegraaf. Staatssecretaris Heijnen (Infrastructuur en Waterstaat) hekelde dinsdag Tata voor „hoelang het duurt om tot resultaten te komen.” Een meerderheid in de Tweede Kamer zei vorig jaar de banen te willen behouden, evenals een eigen staalmaker, maar eiste ook snelle ingrepen. Een aantal fracties wil Tata Steel inruilen voor woningbouw.

BEKIJK OOK:
RIVM: milieu rond Tata Steel ondanks ingrepen onveranderd slecht

www.telegraaf.nl/financieel/113494236...

France 22 29 maart 2023 13:17

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Nou nou Voda, je hebt het er maar druk mee.

UBS komt met een koopaanbeveling vandaag
Koersdoel een schamele 30.70

ING heeft een koersdoel staan van 40 Euro.

De k/w van dit bedrijf is bijna nul, nou vooruit 3.

Het bedrijf heeft laten weten dat ze het beter doen dan het marktgemiddelde.

ALS EXTRA.S zou ik kunnen bedenken dat in Turkije de vraag naar staal extra groot zal zijn om de schade van de aardbeving te herstellen, Oekraine moet eens herbouwd worden.

Tesla.s cybertruck wordt van staal.

Ach ja ik fantaseer maar wat raak.

Vorig kwartasl heeft arcelor eventjes een miljard aan schuld extra weggeveegd. De markt dacht dat de schuld 3 miljard zou bedragen, het waren er maar 2.

Op naar de 40 dus.

voda 30 maart 2023 09:09

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Vietnam's steel demand to recover in second-half: VSA
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Vietnam's domestic steel demand is expected to improve in the second half of 2023 with a modest growth of 1-2%, Vietnam Steel Association (VSA) secretary general and vice chairman Dinh Quoc Thai told delegates at Kallanish’s Asia Steel Markets 2023 conference in Ho Chi Minh City on Wednesday.

While Vietnamese steel demand has so far been slower this year, it has the potential to improve on the back of the country's GDP growth forecast of 6.47-6.83% in 2023. Domestic steel consumption is expected to grow amid increased public investment disbursement on infrastructure and the recovery of post-Covid civil construction activities.

However, Vietnam faces challenges, including slower macroeconomic growth, complexities in the restructuring of state-owned enterprises and credit institutions, and the existence of bad debt. On the steel front, Vietnam faces oversupply of certain steel products such as construction, cold rolled and galvanised steel, as well as high dependence on imported raw materials and higher costs associated with green steel production.

Slow disbursement of only 50-53% in public investment last year caused domestic demand to slow down. This will seriously affect steel demand in 2023 and may continue if new policies are not implemented, said Thai. Vietnam's crude steel production reached 20 million tonnes in 2022, down 13% year-on-year. Vietnam's apparent steel consumption last year rose marginally, by 0.81% to 22.23mt (see table below).

In the long term, steel growth prospects for a developing country such as Vietnam are good, Thai observed. The country's population is expected to reach 104 million by 2030 and steel consumption per capita, currently at 240 kg/person, is expected to increase to 290 kg/person by 2030. Demand for high-quality fabricated and alloy steel is expected to rise too. VSA forecasts that Vietnam's total steel demand will hit 30-32mt by 2030.

Bijlage:

voda 30 maart 2023 10:18

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MIIT DDG Asks Steel Mills to Adhere to Capacity Swap Rule

China's Ministry of Industry & Information Technology has emphasized that steel enterprises must adhere to capacity 'swap' guidelines and be subjected to strict controls on new steel capacity. According to Mr. Zhang Haideng, Deputy Director General of the raw materials industry department of MIIT, while China continues to encourage mergers and acquisitions in the steel industry, the risk of overcapacity remains a concern. He urged the industry to ensure that capacity swap guidelines are followed and close controls are placed on new steel capacity.

At the 14th China Iron and Steel Development Forum held in Beijing on March 25, Mr. Zhang encouraged steel enterprises to pursue higher levels of development through mergers and acquisitions with counterparts. He argued that the steel industry's low concentration ratio can lead to excessive competition and raise the risk of "price wars" erupting. Zhang also highlighted the importance of 'green' development, urging Chinese steel companies to participate in the national carbon emission trading market and keep an eye on innovative technology and equipment to face new challenges in the industry.

China introduced the capacity swap scheme many years ago, which requires steel enterprises to scrap existing facilities of at least the same productive capacity if they wish to build new iron or steel-making capacity. The scheme has been effective in limiting the expansion of China's steel capacity, and over 200 million metric tons per year of outdated iron and steel capacity have been permanently removed from the country during2016-2020. The new guidelines for capacity swaps took effect on June 1, 2021.

China's crude steel output slipped by 3% on year to 1.03 billion metric tons in 2021, the first decline in output since 2015, according to data released by the country's National Bureau of Statistics. This downward trend continued in 2022, with a 2.1% on-year decline to total 1.01 billion metric tons.

voda 30 maart 2023 10:19

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Amorphous Steel Specialist Metglas to Expand Conway Plant

Steel distributor Metglas is expanding its Conway facility in South Carolina to double production for a new product, HB1M Amorphous Steel, used in the construction of distribution transformers that power homes and businesses. The expansion is expected to be completed by July 2023 and will create 30 new jobs. Metglas is also evaluating additional opportunities to expand operations in 2024, giving it the ability to service 20% of the entire US distribution transformer market and bring more high-paying jobs to the Conway area.

The company has operated at its Conway location since 1989, based upon technology developed in the 1970s. Metglas is a subsidiary of Hitachi Metals and specializes in the production of metallic glasses, also known as amorphous metals.

Metallic glasses are materials with a disordered atomic structure, resulting in unique physical and mechanical properties. They were first discovered in the 1960s. Today, metallic glasses are used in a variety of applications, including aerospace, electronics, and biomedical engineering. Companies such as Liquidmetal Technologies, Materion Corporation, and Heraeus Holding GmbH are some of the key players in the global metallic glass market.

The production of metallic glasses requires a specialized process, including rapid cooling of a molten metal alloy. The current global market for metallic glasses is estimated to be around $1 billion and is expected to grow significantly in the coming years. Major players in the metallic glass industry include Hitachi Metals, Liquidmetal Technologies, and Heraeus.

IT BHU Varanasi (now known as Indian Institute of Technology, BHU) has played a significant role in the research and development of metallic glasses since the 1980s. In 1984, India's first astronaut, Mr. Rakesh Sharma, conducted an experiment on the Space Shuttle Challenger to study the behavior of metallic glasses in zero gravity. The research led to significant advancements in the understanding and production of metallic glasses. Today, the Institute continues to conduct research on metallic glasses and their applications in various fields.

voda 30 maart 2023 10:19

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Outokumpu to Start Atomization Plant in Krefeld for AM

Outokumpu, a global leader in sustainable stainless steel, is entering the metal powder business for Additive Manufacturing (AM) with the launch of a new atomization plant in Krefeld, Germany. The plant is expected to start operations in April 2023 and will produce metal powders from steel scrap, further strengthening Outokumpu's commitment to sustainability and circular economy efforts.

The global demand for metal powder is on the rise, and Outokumpu aims to meet this demand by producing metal powders that are not yet available in the market. These powders will be suited for companies that use technologies such as AM, Metal Injection Moulding (MIM), Binder Jetting (BJ) and Hot Isostatic Pressing (HIP) to produce parts for demanding applications. With metal powders, manufacturers can produce parts with higher complexity, less weight, and decreased lead times, avoiding disruptions in the supply chain.

“In the near future, the estimated total production capacity will be approximately 330 metric tons annually. Our longer-term target is to utilize the learnings and to build up our R&D knowhow to support the customer journey with expertise, new material development, flexibility and customization for various powder metallurgy technologies. In our future vision, we could be able to serve our customers in such a way that they could come to us with a problem and leave with a solution,” says Thomas Anstots, President of BL Advanced materials at Outokumpu.

Outokumpu's brand new portfolio of high-quality metal powders includes stainless steel and nickel alloys and has been specially formulated to meet the demands of modern manufacturing in terms of quality, sustainability, and flexibility. The company has partnered with SMS group as the technology supplier, and the Equipment as a Service (EaaS) contract ensures continuous line optimization and close collaboration between the supplier and the producer in the powder business over the next years.

voda 30 maart 2023 10:20

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RSP Produces 100 Million Metric Tons of Crude-Steel

The Steel Melting Shops of Steel Authority of India Limited at Rourkela Steel Plant achieved a historic milestone on 29 March 2023 as they produced over 100 million metric tons of crude steel. The steel-making journey at RSP began in January 1959 with the commissioning of Steel Melting Shop-I, which was later strengthened with the addition of Steel Melting Shop-II in 1996.

The last 50 million metric tons of crude steel production was achieved in just 19 years, indicating significant growth in production. The last 10 million metric tons of crude steel was produced in just 3 years and 2 months, while the last year alone witnessed a production of over 4 million tonnes of crude steel.

To commemorate this achievement, a helium-inflated balloon carrying a message of congratulations for the 100 million metric tons crude steel production was floated from the Steel Melting Shop-1, CGM Office Building of RSP.

voda 30 maart 2023 10:20

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ArcelorMittal & Bamesa to Deepen Green Steel Cooperation

ArcelorMittal Europe Flat Products and Bamesa have recently signed a Memorandum of Understanding to collaborate on low-carbon projects and reduce CO2 emissions. The MoU was signed by Mr. Yves Koeberle, CEO of ArcelorMittal Europe Flat Products, at Bamesa's headquarters in Barcelona, Spain on March 29, 2023. Under the agreement, the two companies will explore ways to reduce scope 3 emissions and test the use of recycled steel in low-carbon emissions products. Mr. Koeberle praised Bamesa for its leadership in developing a low-carbon emissions supply chain for the automotive sector and said that it was through working closely with customers that the company would achieve its goal of reducing CO2 emissions within Europe by 35% by 2030 and reaching net-zero by 2050.

They have also committed to increasing the proportion of XCarb® products used in the supply chain for coils every year between 2024 and 2030. The XCarb® products offered by ArcelorMittal Europe Flat Products include XCarb® green steel certificates and XCarb® recycled and renewably produced steel, which is made with 100% renewable electricity and a high proportion of recycled steel.

ArcelorMittal and Bamesa have several joint venture steel service centre companies in Morocco, Romania, and Turkey. This partnership is expected to enhance the efforts of both companies to reduce CO2 emissions and promote sustainable production.

Bamesa, a leading steel service centre supplier to OEMs and stampers, has a crucial role in the Decarbonisation of the automotive supply chain. The company has a presence in seven countries across Europe and operates 13 plants, delivering just in time to customers in the automotive, appliances, and construction sectors.

voda 30 maart 2023 10:21

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Vale Signs 7 MoUs in China to Lead Decarbonization if Steel & Mining

Vale, a Brazilian mining company, has signed seven agreements with various Chinese partners to strengthen its strategic agenda and relationship with China. The agreements include a Project Investment Agreement for the Morowali project, two agreements to support the company's decarbonization agenda in partnership with a Chinese client and a Chinese supplier, two comprehensive strategic cooperation Memorandums of Understanding with leading Chinese banks, and two agreements to strengthen cooperation with Chinese universities.

One such announcement involves a cooperation agreement with Baoshan Iron & Steel, a subsidiary of China Baowu, to develop and apply biochar in the steel industry. Biochar is produced from biomass and has the potential to replace coal in steelmaking, thereby reducing carbon emissions in the process. While there are currently no industrial applications of biochar in steel mills in China, the sector considers biomass energy a strategic technical route to low-carbon metallurgy. Vale sees this technology as essential to achieving its goal of reducing scope 3 emissions by 15% by 2035.

Vale's subsidiary in Indonesia, Taiyuan Iron & Steel Co. and Shangdong Xinhai Technology will construct a Rotary Kiln-Electric Furnace ferronickel processing plant with a minimum annual production of 73,000 metric tons of nickel,

In addition, Vale has signed a memorandum of understanding with XCMG, China's largest group of companies in the construction machinery industry, to co-develop the world's first zero-emission motor grader for mining activities. The equipment, which is used to level mine accesses, will be tested in Brazil's states of Minas Gerais and Pará. If approved after testing, Vale intends to acquire several models over the next few years, as it currently operates a fleet of 90 motor graders. Vale is also testing two electric off-highway trucks manufactured by XCMG, with the replacement of fuel-powered equipment with electric or low-emission models being fundamental to achieving the company's goal of reducing its scope 1 and 2 emissions by 33% by 2030.

Vale also signed MoUs with Industrial and Commercial Bank of China and the Bank of China to support its business development, and strengthen partnerships.

Moreover, Vale has signed a cooperation agreement with Central South University too strengthen their technical cooperation. This follows a donation agreement announced in February, in which Vale pledged $5.81 million to support CSU in establishing a new lab for low-carbon metallurgy and hydrogen. Under the new cooperation agreement, Vale will work with CSU on research into low-carbon sintering and pelletizing, high-efficiency ironmaking, and H2 utilization.

Finally, Vale has signed a four-year partnership agreement with Tsinghua University to support the Academic Center for Chinese Economic Practice and Thinking (ACCEPT). Founded by Professor David Daokui Li, a renowned Chinese economist, in April 2018, ACCEPT focuses on research into government and market economics, promoting economic research with Chinese characteristics. Vale's partnership with ACCEPT began in April 2019 and aims to deepen the understanding of China's economic practice and thinking.

These announcements demonstrate Vale's commitment to sustainability and reducing its carbon footprint through partnerships with leading institutions and companies. By investing in sustainable technology and supporting research into low-carbon metallurgy and hydrogen, Vale is working to achieve its emissions reduction targets and promote a more sustainable future for the mining industry.

voda 30 maart 2023 10:21

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UK Government Extends Steel Safeguard Measures

The UK Government has extended its steel safeguard measure, which places quotas on imports of certain steel products and imposes a 25% tariff on imports above the quota, until 30 June 2024. The measure aims to protect the domestic steel industry from a surge in imports.
When the UK was a member of the EU, steel imports were governed by EU steel safeguard measures. These were imposed in 2018 in response to the US increasing tariffs on steel and aluminium imports and were intended to protect the EU market from cheap steel diverted from the US. However, now that the UK is no longer an EU member state, it has its own independent trade policy and trade remedies.

At the end of the transition period, the UK Government chose to temporarily maintain a steel safeguard measure covering 19 of the 26 steel product categories put in place by the EU. This measure was set to expire on 30 June 2021. It was then for the newly-established independent Trade Remedies Authority to recommend to the Government whether the safeguard measure should be extended.

The TRA recommended modifying and extending the safeguard measure on 10 product categories for three years and revoking the measure for the other nine categories of steel imports. However, major domestic steel producers and UK Steel, the trade body for the sector, were unhappy with the TRA’s recommendation.

In response, the Government accepted the TRA recommendation to extend the safeguard measure on 10 product categories for three years and made new regulations to temporarily extend the measure on five of the remaining nine product categories for one year. This required emergency legislation to be passed to enable the Government to overrule part of the TRA recommendation.

In September 2021, the TRA launched a reconsideration of its original recommendation, following submissions from industry stakeholders. In March 2022, the Secretary of State for International Trade used newly created powers to call-in the TRA’s reconsideration “due to the strategic importance of the steel sector to the UK.” The Secretary of State gave directions to the TRA about the terms on which it should conduct its review.

In June 2022, the TRA published the outcome of its reconsideration. It found that, when analysing the evidence on the terms of the Secretary of State’s call-in direction, there was enough evidence to extend the safeguard measure for all 15 remaining product categories. The TRA also proposed amendments to the list of developing countries which are excepted from the safeguard measure.

On 29 June 2022, Trade Secretary She Anne-Marie Trevelyan announced that, having considered the TRA’s report, she had concluded that there would be “serious injury or the threat of serious injury” to UK steel producers if the safeguard measure on the five additional categories of steel due to expire at the end of June 2022 were not continued.

announced that the safeguard measure on the five steel categories for which it was due to expire in June 2021, would be extended for a further two years. This means that the safeguard measure will remain in place for all 15 categories of steel until 30 June 2024. Imports outside the quotas of steel in the 15 product categories for which a safeguard measure is in place would face a tariff of 25%. In her statement, the Secretary of State said that the Government’s decision to extend the safeguard measure on the five product categories departed from WTO obligations but that the national interest required action to be taken.

voda 30 maart 2023 10:22

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AM/NS India Unveils Mera Hypermart to Expand Retail Footprints

AM/NS India is expanding its presence in the retail market with a focus on coated products. The company has introduced a distributor owned, distributor operator franchise based retailing model called Mera Hypermart, which will complement the existing company owned and company-operated formats, according to Mr. Ranjan Dhar, Chief Marketing Officer, AM/NS India, interview with Business Line.

Mera Hypermart is a franchise model with a network of 72 partners distributed across India selling 0.7 million metric tons per annum. These partners have been appointed based on various factors such as territory size and market potential. The company aims to build a network of more than 100 Mera Hypermart partners in the next few months with a significant increase in target sales volumes. In addition, AM/NS India has 17 Stop Shops across India, which will expand to 25 by the end of this year. The Hypermart and Mera Hypermart network prioritizes MSMEs as a key segment by giving access to markets, technology, and capacity-building support in the hinterland.

The company is also evaluating technologies to enhance price discovery in the domestic retail segment, such as leveraging AI to ensure price transparency.

A series of Mera Hypermart marketing campaigns will be taken up to increase the visibility and reach of AM/NS India's coated products, and the expansion of the product portfolio will also happen.

AM/NS India's product portfolio consists of over 600 steel grades, of which coated products account for almost 30% of sales volume and significantly more in terms of value. Hypermart, the company's flagship retail distribution network, accounts for 30% of sales, with a large proportion of this being coated products. The company aims to increase volumes in its coated segment by more than 1 million metric tons per annum in the near term.

Bijlage:

voda 30 maart 2023 10:23

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M&A Leader Mr. Hass to Manage thyssenkrupp Steel Sale

German steelmaker thyssenkrupp has appointed Mr. Markus Haas, the man behind the company's sale of its landmark elevator unit, to lead the divestment of its steel division, reports Reuters. Mr. Haas is expected to bring his expertise in successfully completing complex deals to the new role and accelerate the divestment process. Mr. Haas, who joined thyssenkrupp in 2018 as the head of mergers and acquisitions, will be tasked with finding a buyer for the steel division and completing the transaction as quickly and smoothly as possible. The company is hoping that his experience and success with the elevator unit sale will translate to the steel division divestment.

Mr. Haas led the sale of thyssenkrupp's elevator unit to a consortium led by Advent and Cinven for €17.2 billion in early 2020, which was the largest-ever deal in the company's history. The sale helped tthyssenkrupp reduce its debt burden and shift its focus to its remaining businesses.

Mr. Haas' appointment comes as Thyssenkrupp has been facing pressure from its shareholders to accelerate its restructuring efforts and improve its financial performance. The company has been struggling with a series of problems, including a massive write-down on its plant engineering business and the impact of the Covid-19 pandemic on its operations.

thyssenkrupp's steel division, which is one of Europe's largest steelmakers, has been struggling with a weak market environment, rising energy costs, and increasing competition from cheaper imports. The company has been looking to divest the unit to focus on its more profitable businesses, including its elevator and plant engineering divisions. The appointment of Mr. Haas to lead the divestment of the steel division comes as the German industrial conglomerate continues to face challenges in finding a buyer for the unit. The company has been exploring various options, including a joint venture or partial sale, but has yet to reach a deal.

thyssenkrupp has said that it expects to complete the divestment of the steel division by the end of its fiscal year in September 2022. The company has also been working to restructure the unit, cutting jobs and closing some plants in an effort to improve its profitability and make it more attractive to potential buyers.

voda 30 maart 2023 10:23

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HS2 has opened a new on-site rebar steel facility to address material shortfall

HS2 Opens New On-Site Rebar Steel Component Facility to Combat Materials Shortages

The Skanska Costain STRABAG joint venture team, which is building the Copthall tunnel in Hillingdon for the High Speed 2 (HS2) railway project, has opened a new on-site rebar steel component facility to counteract material shortages. The team had experienced delays due to a shortfall of available prefabricated fatigue-rated rebar couplers after suppliers exited the market. The new 92,000 rebar steel couplers acility will be constructed by a team of 14 workers. The construction team will work on the 880-metre-long facility for eight hours a day, six days a week, for up to three years. The facility will create new jobs, reduce waste, and cut lorry movements.

The rebar steel facility offers a new model for the manufacturing of material on-site, which may benefit other construction projects. In addition to the Copthall tunnel works, the facility has also provided fatigue-rated couplers to other HS2 works sites that SCS JV is working on.

The construction industry has suffered from a shortage of raw materials, and the price of supplies has soared due to inflation, with the cost of building materials consistently rising over the last few years. HS2 had recently announced delays to the project to spread out the cost over a longer period. Parts of the line between Birmingham, Crewe and Manchester will be “rephased” by two years, meaning the Crewe line could be delayed to 2036 and the Manchester line to 2043. The financial savings from the new facility will be welcome news to HS2.

HS2 is a major infrastructure project in the UK, aimed at improving transportation links between the country's major cities. It involves building a high-speed railway line connecting London with the West Midlands, Manchester, and Leeds, which is expected to reduce journey times and increase capacity on the existing rail network. The importance of the HS2 project cannot be overstated, as it represents a significant investment in the UK's transport infrastructure. The country's rail network is in urgent need of modernization, with many of its trains and tracks dating back to the Victorian era. The HS2 project is expected to address this by introducing state-of-the-art technology, including high-speed trains capable of traveling at up to 400 km/h, and reducing journey times between major cities.

voda 30 maart 2023 10:24

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JPL Appoints Mr. Mittal & Mr. Bandyopadhyay as Director

Jindal Steel & Power has announced the appointment of two new additional directors in the category of Executive Directors. The Board of Directors has approved the appointment of Mr. Damodar Mittal and Mr. Sabyasachi Bandyopadhyay with immediate effect.

Mr. Mittal has been associated with JSPL for more than three decades and has risen through the ranks to the position of Executive Director. He has extensive experience in the Iron, Steel, and Mining industry and manages primary manufacturing divisions and projects such as the Blast Furnace, Coke Ovens & CDQ, DRI plant, Pellet plant, Slurry pipeline project, and Oxygen Plant. Mr. Mittal is a project management professional with a focus on planning, project administration, strategic scheduling, quality, cost control, and optimum resource utilization. He is known for implementing innovative approaches to complete challenging tasks economically and within a short time frame.

Mr. Bandyopadhyay has a diverse career spanning more than 30 years in the steel industry. He has hands-on experience in multiple aspects of the business, including P&L, Operations, Steel Technology, Digitalization, Supply Chain, Raw Material Procurement, and Sales & Marketing. Prior to re-joining JSP in August 2021, he was with Big River Steel USA, as the Chief Technology Officer & Chief Strategy Officer. He has worked with reputed steel companies across the world, namely SAIL, STELCO Canada, Severstal, Steel Dynamics USA, and JSP. He has also been on the Board of Directors for the Association of Iron & Steel Technology, USA. Mr. Bandyopadhyay completed his undergraduate in Metallurgical Engineering from Jadavpur University, Kolkata, India, and subsequently finished his M-Tech from NIT Durgapur in Extractive Metallurgy and Foundry Technology with emphasis on Alloy Steel Production.

In view of the above appointments, Mr. Dinesh Kumar Saraogi and Mr. Sunil Kumar Agrawal have stepped down as Directors of the Company

voda 30 maart 2023 10:25

0

Nextracker Bags Major Solar Trackers Supply Order from Strata Clean Energy

Nextracker, a leading provider of solar tracking and software solutions, has entered into a multi-year volume commitment agreement with Strata Clean Energy to supply 810MW of trackers for large-scale solar power projects in Texas, Arizona, and Virginia. Under the agreement, Nextracker will supply its intelligent, integrated solar tracker and software solutions to Strata Clean Energy. The products will be used in utility-scale and ground-mounted distributed generation solar projects, enabling solar panels in utility-scale power plants to follow the sun's movement across the sky and optimize plant performance.

With over 70 gigawatts shipped worldwide, Nextracker leads the solar industry with solar tracker technologies that optimize and increase energy production while reducing costs for significant plant ROI.

Solar trackers are devices that are used in large-scale solar power plants to orient solar panels towards the sun as it moves across the sky throughout the day. The orientation of the solar panels affects their efficiency in generating electricity, so solar trackers help to increase the amount of energy generated by the panels by optimizing their position relative to the sun. By tracking the sun's movement, solar trackers can increase energy output by up to 25-30% compared to fixed panels. There are different types of solar trackers, including single-axis and dual-axis trackers that use different mechanisms to follow the sun's path.

There are several companies that manufacture solar trackers globally, and the market is highly competitive. Some of the leading manufacturers of solar trackers include Nextracker, Array Technologies, Soltec, GameChange Solar, and Arctech Solar, among others.

voda 30 maart 2023 10:26

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Four Workers Injured in Furnace Blast at Kisco Castings

Four labourers were left with serious injuries after a blast occurred at Kisco Castings steel manufacturing company in Mandi Gobindgarh on 29 March night when the workers were putting scrap into the furnace. The blast caused the workers to become trapped in melted iron and suffer injuries, reports The Tribune. The injured workers were rushed to a nearby private hospital in Khanna, where they are currently undergoing treatment. It is not yet clear what caused the blast, but authorities have launched an investigation to determine the cause of the accident.

Mr. Kuldeep Goyal, the factory owner, spoke to reporters and explained that he had immediately taken the workers to the hospital after the incident. He also stated that the company would bear the expenses of the treatment and would compensate the workers for their injuries.

Kisco Castings is a steel manufacturing company located in Mandi Gobindgarh, Punjab, India. The company was established in 1977 and has since become a leading manufacturer and exporter of high-quality steel products.

The incident has raised concerns about safety regulations in the steel manufacturing industry. Mandi Gobindgarh, a city located in the Fatehgarh Sahib district of Punjab, is known for its steel manufacturing industry. The incident has caused shock and concern among the local community, and many are calling for stricter safety measures to be put in place to prevent similar incidents from occurring in the future.

voda 30 maart 2023 10:26

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RHI Magnesita Acquires Dalmia GSB Refractories

RHI Magnesita NV, a Vienna-based supplier of refractory products, has announced the acquisition of Dalmia GSB Refractories GmbH for around €13 million in cash. The acquisition will allow RHI Magnesita to expand its offerings to European customers, where DGSB's monolithic lances are a complementary addition to its existing range of products.

Dalmia GSB Refractories is a Germany-based company that specializes in the production of refractory products. The company is a leading supplier of monolithic lances and precast products to European steel customers. DGSB's products are used in the steel industry to improve the efficiency and quality of steel production. Monolithic lances are used in steelmaking to inject gases into the molten metal to remove impurities and improve the overall quality of the steel. Precast products are used in the construction of furnaces and other high-temperature applications. The ownership structure of Dalmia GSB Refractories is not publicly available information. However, in the news article about the acquisition by RHI Magnesita NV, it was mentioned that DGSB was acquired from the Dalmia Bharat Group in Europe. The Dalmia Bharat Group is an Indian conglomerate with interests in cement, sugar, and refractories, among other sectors.

The recent acquisition of DGSB by RHI Magnesita is expected to strengthen the company's position in the European market and provide additional benefits to its customers. With RHI Magnesita's extensive resources and expertise in the refractory industry, DGSB is expected to continue to provide high-quality refractory products to its customers while expanding its offerings to new markets.

voda 30 maart 2023 10:27

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BSE Tightens Steel Billet Future Terms

Bombay Stock Exchange has released a circular on 27th February 2023 about modifying contract specifications of Steel Billets futures contract. The Indian Clearing Corporation Ltd, which is the clearing and settlement agency for BSE's equities, derivatives, currency derivatives, and commodity derivatives segments, has been notified to follow a set of rules, byelaws and regulations that are detailed in the circular.

The procedure for deposit and delivery of Steel Billets at ICCL Accredited Warehouse has been laid down in the circular, which members and their respective constituents are requested to follow. Members & participants who want to deposit or withdraw steel billets from the ICCL Accredited Warehouse for trading or delivery on BSE platform are advised to adhere to the mentioned procedure & conditions.

Prior to depositing goods in the accredited warehouse, the depositor needs to provide a minimum of one working day's intimation to the Warehouse Service Provider and comply with relevant laws & regulations of the statutory authorities and best practices for depositing Steel Billets in the accredited warehouse. The Steel Billets being deposited must confirm to BIS 2830/2831 Standard and should be free of harmful elements. The Billets must be a mild steel billet confirming to Bureau of Indian Standards produced by BIS Licensed plants

The weight of the Steel Billets would be determined at the calibrated weighbridge of the accredited warehouse before deposit or delivery. The net weight for every delivery unit shall be 10 metric tons, with acceptable quantity variation of +/-5%. The Steel Billets delivered at ICCL accredited warehouse should have a specification with respect to size and length.

Each piece of Steel Billets deposited in the ICCL Accredited warehouse shall be marked with heat no & cast no individually and accompanied by the original mill test certificate from a BIS licensed plant. The heat no &cast no should be mentioned on each Steel Billet through uniform legible mark (permanent marker or embossed), and should match with the heat no & cast no mentioned on the original mill test certificate. If there is any mismatch found between the heat no & cast no mentioned in the original mill test certificate and the heat no & cast no mentioned on Steel Billets, the warehouse shall reject the goods.

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

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