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voda 12 september 2017 16:53

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ThyssenKrupp and Tata Steel UK may ink MoU on merger this month - Report

Reuters reported that ThyssenKrupp said that it could reach an agreement in principle this month to merge its European steel business with that of Tata Steel, as the talks were constructive and had entered the final stretch. A spokeswoman for ThyssenKrupp said the companies were close to a MoU, paving the way for a detailed look at one another’s books and detailed negotiations before creating the second-largest steelmaker in Europe.

The spokeswoman said “The management board is currently in talks over strategic options. A meeting of the supervisory board initially scheduled for September 12 had been moved back to ensure it was adequately informed.”

A spokesman for ThyssenKrupp’s works council said the meeting was scheduled to take place on Sept. 23 or 24.

ThyssenKrupp CEO Mr Heinrich Hiesinger is under pressure to deliver the planned combination, particularly following Tata Steel’s deal to cut its pension liabilities, after talks have dragged on for a year and a half. Mr Hiesinger favors a steel joint venture, saying this is the best option to eliminate overcapacities in the volatile steel sector but drawing opposition from labor representatives, who fear thousands of job cuts.

Trade unions remain opposed to Mr Hiesinger’s plan, preferring a carve-out that would see ThyssenKrupp list its healthy assets including its elevator unit on the stock market instead, in a fashion similar to utility RWE. Mr Dieter Lieske, head of the Duisburg-Dinslaken unit of IG Metall, Germany’s largest trade union, said “We reject a merger with Tata. There were no signs that labour representatives on the group’s supervisory board would agree to the merger plan.

Mr Lieske said Mr Ulrich Lehner, ThyssenKrupp’s supervisory board chairman, may be forced to use his casting vote if the 20-member board, with equal representation of labor and capital interests, reaches a stalemate over the decision.

Source : Reuters

voda 12 september 2017 16:53

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JFE BF shutdown for repairs seen tightening steel product supply in Japan - Nikkei

Nikkei reported that Japan's JFE Steel will suspend production at a blast furnace this month to deal with equipment repairs that have taken longer than expected, knocking some capacity offline at a time of brisk demand. The JFE Holdings unit expects the shutdown of the furnace at its East Japan Works to reduce output by about 300,000 tons, equivalent to around 6% of the company's monthly production.

The halt became necessary due to a problem in a converter furnace, which purifies molten iron produced in the blast furnace. Issues cropped up late last month with auxiliary equipment for collecting waste gas and dust, prompting JFE to shut down one of the converter furnaces at the steelworks. The company is still looking for the source of the problem.

JFE initially dealt with the trouble by firing up another converter furnace, but that needs to go offline soon for regular maintenance. The company decided to switch off a blast furnace in response, since fewer converter furnaces in operation would otherwise lead to excess molten iron from blast furnaces. It is unusual for blast furnaces to undergo unplanned shutdowns, as they typically run for years with only brief breaks for maintenance.

"The impact [of the shutdown] will probably start appearing gradually," a source at a steel trading house predicted. JFE makes a variety of steel products used by a wide range of manufacturers, such as steel sheet for automakers and electrical machinery manufacturers and steel plate for shipbuilders. The steelmaker has begun asking customers to accept later delivery times.

Japan's crude steel output is expected to grow for a second straight year in fiscal 2017, thanks to brisk demand for steel products in the manufacturing sector. JFE hopes to minimize the impact of the furnace shutdown by leaning more heavily on its remaining production facilities, but supplies of steel sheet, steel plate and steel pipe will be affected through next month.

Source : Nikkei

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voda 12 september 2017 16:55

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Tata Steel UK statement on completion of RAA announcement

Tata Steel UK has received confirmation from The Pensions Regulator that it has approved a Regulated Apportionment Arrangement (RAA) in respect of the British Steel Pension Scheme (BSPS). The BSPS has now been separated from Tata Steel UK and a number of affiliated companies. As part of the RAA, a payment of GBP 550 million from Tata Steel UK has been made to the BSPS and shares in Tata Steel UK,

Source : Strategic Research Institute

voda 12 september 2017 16:55

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JSW’s crude steel production down 1pct in August 2017

JSW Steel has reported its crude steel production for August 2017, which stood at 13.37 lakh tonnes as against 13.52 lakh tonnes in August 2016, slipping 1% on YoY basis.

Source : Strategic Research Institute

voda 12 september 2017 16:56

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Steel price surge could derail GAIL Bokaro-Dhamra pipeline project

The Wire reported that in June, state owned gas transporter GAIL India had cancelled INR 1,250 crore tender for the Bokaro-Dhamra section of the the Jagdishpur-Haldia pipeline project, hoping for a fall in steel prices. But the gas transporter’s bet has gone wrong with prices of domestic steel rising. Global steel prices have jumped by nearly 30% between June and August. The benchmark international prices of HR coil, which is used as raw material by pipe manufacturers and accounts for 85% of the total costs, have risen by more than 30% between June and August, as per data compiled by credit rating agency ICRA.

Pipe manufacturers have started passing on the increased costs to gas pipeline developers, which is getting reflected in fresh price bids invited by the oil sector PSU for the project, sources said. Based on received price offers, GAIL will soon hold reverse bidding. It would be a big loss of face for the PSU if the discovered price is higher compared to the initial bidding. Moreover, escalation in project costs could necessitate revision in gas transportation tariff and hurt project viability.

GAIL’s worry does not end here. Chinese supplier North China Petroleum Steel Pipe Co Ltd, which had emerged as the lowest bidder for the project, has moved the Supreme Court against PSU’s decision to scrap the tender and the matter may come up for hearing later this week.

Source : The Wire

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voda 12 september 2017 16:57

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ISSDA hails duty on flat steel imports from China

PTI reported that India’s apex stainless steel industry body Indian Stainless Steel Development Association has welcomed Finance Ministry’s decision to impose countervailing duty (CVD) on imports of certain flat steel products from China saying that it will not only help domestic players to recover the losses but also create jobs.

ISSDA president Mr KK Pahuja said “Due to the subsidised imports from China, the domestic players were facing huge losses. Some even had to shut down their business. This would be a big relief to the domestic players as the subsidised imports from China had distorted the stainless steel market. The situation had reached a pinnacle wherein they were constantly reducing prices in order to maintain the market share and as a result industry was incurring huge financial losses.”

Mr Pahuja added that the CVD investigation was initiated on April 12, 2016 by the DGAD in response to a surge in subsidised imports of stainless steel flat products from China.

Jindal Stainless Ltd and Jindal Stainless (Hisar) Ltd on behalf of the domestic industry had filed the petition for initiation of anti-subsidy/countervailing duty investigation concerning imports of flat rolled products of stainless steel from China.

Source : PTI

voda 12 september 2017 16:58

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Danieli three-roll cross rolling mill in quick operation at Vallourec, Rath, Germany

Excellent performances achieved right from the beginning by Vallourec Deutschland (VAD) operating the new Danieli cross-rolling mill. The CRM supplied to VAD is a unique, newly designed machine developed by Danieli Centro Tube

Source : Strategic Research Institute

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voda 12 september 2017 16:59

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Malaysian Leader Steel to raise pipe output by 20% this year

The Star reported that Leader Steel Holding expects its steel pipe output to increase by more than 20% this year due to the shortage of steel products and rising demand for steel in Malaysia. The group’s revenue and bottomline for the financial year ending Dec 31, 2017 is expected to reach a record-breaking level, thus making the results the best for the past five years.

Group managing director Ms Datin Tan Pak Say told StarBiz there was a shortage of steel products in the market, following the significant contraction in the output of steel products from China. She added that “The shortage was particularly very serious in the past three months and is expected to worsen by the end of the year.”

Ms Tan said steel prices are expected to continue to increase and “Leader Steel will also have to increase the selling price of its steel pipes by about 25%.”

Ms Tan said the group would allocate an initial RM10mil to expand its plant in Kapar, Klang. She explained that “This will double-up the production capacity of the Kapar facility by mid-2018 to meet the needs of customers, particularly from the southern and central regions of the country.”

On the group’s plan to produce “rebar products” or steel concrete reinforcing bars, Tan said Leader Steel would use its existing hot-rolling mill plant in Kuching to start production in the next six months. She added that “Initially, we are looking at producing about 10,000 tonnes of rebars per month, which will gradually be ramped up.”

Source : The Star

voda 12 september 2017 17:01

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EU rejects measures against Iran's steel industry

FNA reported that Iran’s steel exports to Europe are now safe from punitive measures after EU governments rejected hitting imports from the country with trade tariffs. The European Commission, which sets out trade policy in the 28-member European Union, had proposed duties of up to 23% for steel from Iran's Mobarakeh Steel Company.

European steel lobby group Eurofer was at the center of the campaign, which had also proposed plans to levy tariffs of up to 33% on imports of hot-rolled steel from Brazil, Russia and Ukraine.

But EU countries opposed the plan, with some members believing the measures were too weak while others regarded them too strong.

Eurofer’s complaint against MSC was that Iranian exports of hot-rolled steel, used in machinery and construction, to Europe had leapt to more than 1 million tons annually, accusing Mobarakeh of "trade distorting measures."

Europe’s tough stance, including its more than 40 restrictive measures aimed at aiding European steel producers, has already sparked accusations of protectionism from international steel exporters.

Steelmakers across Europe are faced with mass redundancies because of their high energy costs. Their leaders say the 320,000 jobs in the European steel industry are at risk from imports.

Iranian producers exported 4 million tonnes of steel last year.

Iran produces 16 million tonnes of steel a year, which the country plans to raise to 55 million tons by 2015. A statement on the website of the Iranian Mines and Mining Industries Development and Renovation Organization expects exports to hit 20-25 million tonnes by 2025.

Source : Fars News

voda 12 september 2017 17:02

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Need to maintain ecological balance in extraction – Mr Chaudhary Birender Singh

DNA reported that India's steel minister Chaudhary Birender Singh urged the extractive industry to ensure that ecological balance is maintained in operations and disposal of waste materials. The minister said that mega investments in extractive industries like oil and gas and mining have the potential to be a spring board for overall development. However, at times, issues "like ... impact on the surrounding communities, pollution and environmental catastrophe are associated with the industry.”

Mr Singh at the National Extractive Industry and Sustainable Development Summit said that the challenge is to achieve a balance to effectively leverage these resources for economic and social development and at the same time prevent the negative impact on environment, the minister said. Playing with nature can be harmful.

For sustainability of the industry and nature, it is the duty of the government and also of organisations in this sector to apprehend this kind of imbalance, he said, adding steel companies have been asked to optimise the use of resources so that there is minimum wastage or zero wastage.

Mr Singh said that for sustainable development, the government is exploring the possibility of scrap-based steel plants to utilise waste for steel making and reduce burden new resources.

Steps are also being taken to ensure that the steel industry needs minimum carbon footprint. Rashtriya Ispat Nigam Ltd under the Ministry of Steel, has recently set up a power plant that utilises waste gases generated in the plant.

The minister said he is also examining if methanol can be made using waste gases generated in steel plants. Recently at some of the mines where mining were to take place the problem was gas.

Methanol can be produced from natural gas, coal and renewable sources such as municipal waste, biomass and recycled carbon dioxide.

The steel ministry is also focusing on enhancing capacity utilisation and technology upgradation as these can help in proper utilisation of our extractive minerals.

Under the National Steel Policy, more coal washeries will be set up to reduce the dependence on foreign countries for availability of coking coal.

He said that "We import 80% of coking coal from other countries like Australia and prices fluctuate between 70 to 300 dollars which is very disturbing for us adding the addition of washeries can reduce imports by one-third.

Source : DNA India

voda 12 september 2017 17:04

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DTI probes sale of faulty steel bars in Leyte, Samar in Philippines

Inquirer reported that Department of Trade and Industry has launched an investigation of reports that several hardware stores in Leyte and parts of Samar were selling substandard construction materials, notably steel bars. The investigation followed a report made by the Philippine Iron and Steel Institute which said test buys made in local hardware stores showed substandard concrete reinforcing steel bars, or rebars, were being sold.

Portia Teresa Calleja, senior trade and industry specialist of the DTI Eastern Visayas, said her office had already received a directive from the DTI central office about it.

A team from the DTI’s Fair Trade and Enforcement Bureau went to the region for the investigation based on the Pisi report.

Calleja, however, said she was not privy to results of the investigation. She said that “We are not taking this issue in stride because we want to protect the public.”

According to the Pisi report, rebars that did not meet standards for tensile strength and were only 9 millimeters in diameter were being sold in hardware stores throughout Eastern Visayas.

Uncertified rebars were also found used in structures damaged by a recent quake in Kananga, Leyte.

Robert Cola, Pisi president, wrote to Trade Undersecretary Teodoro Pascua to reveal the findings.

Pascua, in response, formed a team to investigate and inspect hardware stores in Leyte last month.

Pisi conducted an investigation after Leyte, particularly Ormoc City and Kananga town, was hit by a 6.5-magnitude quake on July 6.

Source : Inquirer

voda 12 september 2017 17:04

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Steel workers lament closure of 272 factories in Nigeria

Daily Trust reported that steel and engineering workers have raised an alarm over the closure of 272 factories in Nigeria and sack of 3,000 since 2016. The National President of Steel and Engineering Workers’ Union of Nigeria (SEWUN), Mr Elijah Adigun, said that any economy that is not producing goods and services could not come out of recession.

Mr Adigun, speaking at the union’s annual industrial relations conference and workshop held in Lagos, said since government at various levels have failed to protect local industries, workers have lost their jobs leading to economic recession.

He noted that Nigeria needed a robust production-based solution to exit the recession.

Adigun said that “Our deficiencies in local production have to do with inconsistency in policies and inefficiency in government parastatals and regulatory agencies, as most of those manning the vital sectors of the nation’s economy are operating outside their field of expertise. What Nigeria needs is a crop of technocrats to drive the ship of the economy out of the ocean of recession.”

He said the challenges of operating in the country’s current economic context, while being conscious of global standards and trends, informed the union’s choice of ‘Employing Information Technology as a Platform for Increased Effectiveness in a Globalised Economy’ as the main theme for this year’s workshop.

Source : Daily Trust

voda 12 september 2017 17:06

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NMDC to monitor ground water levels near Nagarnar Steel plant

NMDC Ltd will get ground water levels checked as well as quality monitoring of water done in and around the project area of its upcoming 3 million tonne per annum Integrated Steel Plant at Nagarnar near Jagdalpur in Bastar region of Chhattisgarh. Officials informed that the monitoring would be done for two years at as many as 30 locations near the plant.

Notably, the company is also making an expenditure of INR 41.16 crore for enabling facilities needed for doubling of railway line between Kirandul and Jagdalpur and Jagdalpur-Ambagaon section for augmentation of iron ore evacuation from Bailadila mines in Baster region of Chhattisgarh.

It is also going for enhancement of production capacity enhancement of iron ore from 4.2 million tonne per annum to 6 million tonne per annum at its Bailadila Deposit no 10 in Dantewada district of South Bastar region in Chhattisgarh, officials informed.

Officials informed that the company has already commenced work for setting up the 2.0 million tonne per annum Pellet Plant at Nagarnar near Jagdalpur in Bastar region of Chhattisgarh.

Official said that notably, the company has made a capital expenditure of Rs 4.76 crore as on September 2016 for development of its Bailadila iron ore mines in Bastar region of Chhattisgarh during the last financial year.

The company is now going for construction of the 5th iron ore screening line at its existing screening plant number 2 at Bailadila Iron Ore Mine at Kirandul complex in Dantewada district of Bastar region.

Source : Daily Pioneer

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voda 12 september 2017 17:07

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SAIL witnesses 7pct rise in sales during April-August 2017 period

PTI reported that Steel Authority of India Ltd witnessed a growth of 7% in sales at 5.5 million tonnes in the first five months of the ongoing fiscal, over the corresponding period last year. SAIL posted a 7% rise in sales at 5.5 million tonnes in the first five months of the ongoing fiscal, helped by production ramp-up.

The report quoted a company spokesperson as saying that "Steel Authority of India Ltd witnessed a growth of 7% in total sales during the April-August 2017 period over the corresponding period last year. The sales growth was on account of ramping up of output, aggressive marketing and sale of new products. During this period, domestic sales showed improvement in both long and flat products enabling SAIL to increase its market share to 14.6% from 13.4%.”

The PSU had recorded an 8% growth in total sales at 13.14 million tonne in FY 2016-17.

Source : PTI

voda 12 september 2017 17:08

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Shareholders urge ThyssenKrupp to get on with Tata Steel deal

Reuters reported that ThyssenKrupp shareholders are urging the group to clinch a deal with Tata Steel TISC.N to merge their European steel businesses this year, warning failure to do so would be a blow to its credibility. Talks between the two firms over a potential combination have been dragging on for a year and a half, held up mainly by lengthy negotiations to cut Tata Steel’s pension liabilities in Britain that ended with an agreement last month.

A deadline for objections against the agreement ends on September 8th 2017, with no complaints expected, clearing a further hurdle for the two parties to sign a memorandum of understanding and start a detailed look at one another’s books.

A source familiar with the process said this due diligence would start in October, following general elections in Germany later this month, with the subsequent negotiations about further details expected to take several months.

Union Investment fund manager Ingo Speich, referring to Thyssenkrupp’s Chief Executive Heinrich Hiesinger said that “A collapse (of talks) would be very negative for Hiesinger. He has worked on the deal for a long time. The uncertainty is a drag on the share price. A fast agreement would be very helpful.”

Thyssenkrupp in which Union Investment is a top 20 shareholder with more than 45 million euros (USD 54 million) worth of stock has seen its shares outperform German blue-chips so far this year. Investors see further upside if a deal is struck.

A top-10 shareholder not authorized to speak about listed stocks on the record said that “Everyone expects that the deal is coming. If that doesn’t happen it would be a disappointment. If there is a successful tie-up there is upside of 10-20 percent for Thyssenkrupp.”

Mr Hiesinger has campaigned for a joint venture as his favorite option to reduce Thyssenkrupp’s stake in the volatile steel sector, garnering support from investors but drawing complaints from labor unions that fear layoffs.

Mr Hiesinger has not committed to a timeline for any deal.

Workers also fear Thyssenkrupp could become a minority shareholder in the planned joint venture, which would enable the group to deconsolidate the business and load it with debt to repair its own stretched balance sheet.

That would take away the right to co-determination that German workers enjoy over key corporate decisions.

Source : Reuters

voda 12 september 2017 17:12

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Confidential documents reveal second mining rail project in sights of $5 billion Northern Australia fund

A confidentiality breach by the federal government's $5 billion infrastructure body shows it is now considering loaning public money to two new rail lines supporting mining projects.

The unintended leak of classified documents by the vaunted Northern Australia Infrastructure Facility shows it has been approached for funding by the proponents of the Balla Balla project, which comprises a port and railway to the Pilbara Iron Ore project in Western Australia. The port, rail line and a new mine are expected to cost about $6 billion.

To protect the identity of the source, Fairfax Media cannot reveal exactly how it obtained information from the documents. However the method reveals critical shortcomings in the way NAIF handles and secures sensitive information.

The facility's confidentiality policy states that staff must "keep all confidential information properly secure … Any confidential information taken home for work purposes should be properly protected and secured at all times".
The unintended leak of classified documents by the Northern Australia Infrastructure Facility shows it has been approached for funding by the proponents of the Balla Balla project.

The unintended leak of classified documents by the Northern Australia Infrastructure Facility shows it has been approached for funding by the proponents of the Balla Balla project.

The NAIF is a taxpayer-funded concessional loan scheme designed to boost investment in Northern Australia. NAIF is also considering helping to finance a contentious rail link from the proposed Adani coal mine in Queensland's Gallilee Basin to the Abbot Point coal port, near the Great Barrier Reef.

Derided by critics as a secretive Turnbull government slush fund, the fund refuses to publish board minutes or comment on projects it is assessing, and repeatedly knocks back freedom-of-information requests.

The leaked briefing paper states that BBI Group has approached NAIF to determine if the Balla Balla project, comprising a 162-kilometre rail line and port, may be eligible for assistance. BBI Group declined to comment.

In March this year, Prime Minister Malcolm Turnbull attended the signing of a memorandum of understanding between BBI Group and China State Construction Engineering Corporation Limited, to build the proposed project.
CSCEC president Wang Xianming, Chinese Premier Li Keqiang, Australian Prime Minister Malcolm Turnbull and BBI Group chairman Jon Young at the signing ceremony.

CSCEC president Wang Xianming, Chinese Premier Li Keqiang, Australian Prime Minister Malcolm Turnbull and BBI Group chairman Jon Young at the signing ceremony.
Photo: Keating Media

In a June visit to the Pilbara, WA Mines Minister Bill Johnston reportedly questioned whether it was appropriate for taxpayers to fund commercial projects, saying "it is a very unusual situation where you'd tip taxpayers' money into viable projects. It's contrary to free market theory that says viable projects should fund themselves".

However Mr Johnston said WA should be "in the queue… if there is free money from the commonwealth".

In a speech to Parliament in March, former Labor treasurer Wayne Swan said the NAIF board was "stacked to favour mining investments".

At a Senate hearing in August, NAIF chief executive Laurie Walker said the organisation was "highly transparent" but "certain documents … need to be maintained as commercial-in-confidence", including "information relating to project proponents and their dealings with NAIF".

NAIF did not confirm the contents of the documents when contacted by Fairfax Media.

Greenpeace climate and energy campaigner Nikola Casule welcomed the information's release.

"It is alarming that a government body can be so secretive about how it chooses to hand out hundreds of millions of dollars of taxpayer money, yet at the same time be so reckless when it comes to its own confidentiality policy," Mr Casule said.

Labor's senator Murray Watt wrote on Twitter that the "only info we get on NAIF is from leaks like this. What other Govt body, distributing billions in taxpayers' $ to business, is so secretive?"

Source : Brisbane Times

voda 12 september 2017 17:13

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Ms Gina Lopez continues to speak out against the destructive effects of mining

ABS-CBN News reported that former environment secretary Gina Lopez urged mining companies looking to do business in the country to just go away, as miners concluded their annual showcase for investors. Ms Lopez, a long-time green activist, had continued to speak out against the destructive effects of mining even after her government stint ended last May. Ms Lopez said that “To the miners and people who want to come here and rape the country, and put holes here, and kill our rivers and streams, read my lips: Go away!.”

She said that "There's investors from all over the world that are coming here to invest in mines. I was really worried that they would lift the mining ban. I wanted to make sure it doesn't happen.”

The Mines and Geo sciences Bureau had said it was studying whether to lift a ban on open-pit mining that Lopez imposed while she was in office.

President Rodrigo Duster this week backed Lopez's stand on open-pit mining, saying the practice had to stop at some point.

Ms Lopez said the Philippines is the only country in the planet that gives a 7-year tax holiday. She said that "We're the only one. Come and rape us and you don't have to pay taxes for 7 years. We're the only one that gives 82 percent of net income. It’s crazy.”

She added that "If you count the destructions to our natural resources and the monetary benefits of taxes it doesn't add up. We come out losing to the hundreds of millions. But, open pit is the worst of the very worst."

Ms Lopez said she got nervous about the possibility that the open-pit ban would be lifted. She said that "I want to create an unfriendly environment to the lifting of the ban by putting very clearly what open pit mining is to this country.”

She also described as "pathetic" the mining history in the country and that in all open-pit operations, it is the people who suffer.

She explained that "Open pits will be there forever. It will be a financial liability to the government because they need to be detox everyday and if you don't detox them, they will get acidic and when they get acidic, they spill over into the rivers and streams so the ones taking the risks are the people there.”

The President had earlier warned the mining industry to "restore the virginity" of mining areas or "I will tax you to death."

Source : ABS CBN

voda 12 september 2017 17:14

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Port Hedland iron ore exports to China up by 11%

Pilbara Ports Authority has delivered a total monthly throughput of 57.9 million tonnes for the month of August 2017. This is a slight decrease of 478,000 tonnes from the same month in 2016. The Port of Port Hedland achieved a monthly throughput of 43.5Mt, a decrease of 25,000 tonnes from the previous year.

Iron ore exports for the month totaled 42.8 million tonnes, a decrease of 105,000 tonnes from last year. Imports totaled 139,000 tonnes, an increase of 34% from the same month in 2016. The Port of Dampier delivered a total monthly throughput of 14.4 million tonnes, a decrease of 3% from the previous year. Imports totaled 89,000 tonnes, an increase of 8% from the previous year.

Source : Strategic Research Institute

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voda 12 september 2017 19:56

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Duitse kartelbureau onderzoekt Voestalpine

Vermoeden van kartelvorming in markt voor zware staalplaten.

(ABM FN-Dow Jones) De Oostenrijkse staalgigant Voestalpine heeft dinsdag bezoek gehad van de Duitse federale kartelautoriteiten. Dit meldde Voestalpine dinsdag.

Het Duitse federale kartelbureau doet onderzoek naar mogelijke kartelvorming op de markt voor zware staalplaten.

Het concern meldde de beschuldigingen serieus te nemen en mee te werken met de betrokken autoriteiten.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires

voda 13 september 2017 16:26

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Wisselingen in top ArcelorMittal Italië

Gepubliceerd op 13 sep 2017 om 16:07 | Views: 156

ArcelorMittal 16:09
22,86 -0,10 (-0,44%)

LUXEMBURG (AFN) - Staalconcern ArcelorMittal heeft twee nieuwe bestuurders aangewezen voor zijn Italiaanse tak AM Investco. Matthieu Jehl, nu nog topman bij het Gentse cluster van ArcelorMittal, wordt topman bij AM Investco. Samuele Pasi wordt daar financieel directeur.

Pasi komt over van JPMorgan waar hij sinds 2000 werkte. Hij adviseerde AM Investco bij de overname van het noodlijdende Italiaanse staalbedrijf Ilva. Zodra die overname afgerond is, worden Jehl en Pasi ook topman en financieel directeur van Ilva.

Vertraagd	3 apr 2025 17:35
Koers	24,850
Verschil	-1,780 (-6,68%)
Hoog	26,100
Laag	24,730
Volume	3.805.595
Volume gemiddeld	3.282.721
Volume gisteren	1.863.951

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