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Alam Steel Ltd enters into JV with Macsteel SA

Wed, 28 Feb 2007 00:00:00 GMT

Dubai-based Alam Steel Ltd has announced a US$ 27 million joint venture with South Africa's Macsteel SA as part of a US$ 272 million five-year expansion programme across the Gulf region. The 50:50 joint venture facility in Jebel Ali Free Zone, to be operational within a year, will be Middle East's first service centre for processing high grade steel plates.

Speaking on the occasion, Michael Pimstein, CEO Macsteel Service Centre SA and Board Member, Macsteel Gulf FZCO said “Macsteel Service Centre SA is excited to partner with Alam Steel who are pioneers of the steel industry in this region. Entering the GCC market is in line with our strategy of diversifying our geographic base which follows on from the very successful entry into the UAE and the GCC by our International trading colleagues Macsteel International FZCO based in JAFZA since 2004 and their sister shipping company MUR FZCO who moved to JAFZA in 2006.”

Esmark lands steel contract for Pittsburgh hockey arena

Wed, 28 Feb 2007 00:00:00 GMT

Esmark Inc. announced that it has won a contract to supply decking for the Pittsburgh Penguins' new hockey arena. The contract announced is for approximately 1,000 tons of steel decking and accessories from its Wheeling Corrugating division.

Commenting on the same, The Wheeling, West Virginia, company says that it expects to ship steel from plants in West Virginia's Brooke County and Greensville County in southeast Virginia, starting in July. The US$ 290 million arena is expected to open in the 2010-11 season.

BlueScope Steel completes US$ 1.132 billion debt extension

Wed, 28 Feb 2007 00:00:00 GMT

BlueScope Steel Ltd., Australia has announced that it has successfully completed the first and second tranche extensions of a US$ 1.132 billion syndicated bank facility. It said the US$ 87.24 million tranche one facility will now mature in December 2009 and the US$ 523.42 million second tranche will mature in December 2011.

Borrowing margins for the tranches will be 0.80 per cent and 0.95 per cent respectively. A third tranche of US$ 475.80 million has remained unchanged and is due to mature in December 2010. The loan note facility extension was jointly arranged by the Commonwealth Bank of Australia Ltd. and Westpac Banking Corp Ltd.

Tatas and Essar look at major pie in Indonesia steel JV

Wed, 28 Feb 2007 00:00:00 GMT

Tata Steel and Essar Steel are looking for a majority stake in the proposed joint venture of Indonesia's PT Krakatau Steel to build a 2.5 million tonne (mt) plant. Both companies have submitted expressions of interest (EoI) along with LN Mittal's ArcelorMittal and Australia-based BlueScope Steel. The steel project requires about US$ 3 billion investment. Krakatau's new plant will set up essentially to supply steel to the domestic auto industry.

Muhammad Lutfi, head, Indonesian Investment Coordinating Board told that the government-owned Krakatau has planned to form a joint venture to build a second plant next to its existing facility.

Siemens modernises Tandem Cold Rolling Mill of Companhia Siderúrgica Nacional

Wed, 28 Feb 2007 00:00:00 GMT

The Brazilian company, Companhia Siderúrgica Nacional (CSN) announced that it has awarded Siemens VAI Metals Technologies a contract to modernise its five-stand tandem cold rolling mill No. 3 in Volta Redonda. The project also includes replacement of the automation system, renewal of the drive and process equipment as well as modification of the rolling stands, the infeed and outfeed areas and the emulsion cooling systems. The modernised plant will start operating in the second half of 2009.

Companhia Siderúrgica Nacional has an annual crude steel capacity of 5.6 million metric tons and an annual rolled steel capacity of 5.1 million metric tons. The company supplies a wide range of steel products, including slabs, hot and cold rolled strip as well as zinc-plated and tin-plated products.

Allegheny Technologies unveils new specialty Armor Steel

Wed, 28 Feb 2007 00:00:00 GMT

Allegheny Technologies Incorporated ATI has announced that it has introduced high-hard steel armor ‘ATI 500-MIL™’ in America to the defense market.

ATI 500-MIL™ armor steel is designed to meet the new US MIL-DTL-46100Ehigh-hard specifications for ballistic performance and is being qualified for NATO and other international standards. It protects against such threats as armor-piercing rounds while also offering good blast-resistance properties.
The advantages of ATI 500-MIL™ armor steel include markedly improved flatness over other high-hard steel products, better hardness consistency, minimal distortion when cut, the ability to use hot or cold forming processes, and the capability to introduce bends in the material without weldments. In addition, the specialty steel is auto-tempered, which does not require the normal quench and temper treatment.

SAIL sets up rebar mill and service center in J&K

Wed, 28 Feb 2007 00:00:00 GMT

Steel Authority of India has announced that it is setting up US$ 37.5 million steel processing unit in Kashmir and it is going to be a major investment by local standards. It will consume billets to produce TMT bars and get in galvanized sheets for corrugation and cutting to cater local market.

Almost half of the supply of CG sheets in J&K finds its use in various central and state power, road, bridges and railway projects, besides state government run Project Construction Corporation. The unit that is sprawling over 200 kanals would manufacture 40,000 tonnes of TMT bars and process 60,000 tonnes of GC sheet a year.

ArcelorMittal acquires Bayou Steel

Wed, 28 Feb 2007 00:00:00 GMT

ArcelorMittal announced that it has signed an agreement to acquire Bayou Steel, for US$ 475 million. The transaction is subject to regulatory approval. Bayou Steel is a producer of medium and light structural steel and bar size products.

Commenting on the occasion, Jos Jacqué, CEO, ArcelorMittal Long Carbon North America said, "We are excited by the opportunity that this acquisition represents as it further strengthens our long product portfolio, customer base and distribution network in North America. We look forward to welcoming our new colleagues and to capture the synergies generated by integrating these operations into the ArcelorMittal group."

Sujana Metal produces more steel

Wed, 28 Feb 2007 00:00:00 GMT

Sujana Metal Products Ltd has announced that it has plans to modernise and expand production capacity of its steel plants across the country in the next three years, with a total investment of US$ 400 million.

The company has acquired three steel units, namely Saritha Steels in Visakhapatnam, Glade Steels in Hyderabad and Sree Ganga Steels in Chennai, with an investment of US$ 45 million as part of its strategic initiative.

In Visakhapatnam plant, the company has invested Rs 90 crore for acquisition and will invest Rs 30 crore for modernising, and in the other two plants Rs 20 crore for acquisition and Rs 10 core for modernisation. The production capacity at SMPL has been expanded from 290,000 tpa last year to 728,000 tpa and is expecting to reach 1 lakh tpa by expanding the recently acquired units in Visakhapatnam, Hyderabad and Chennai.

Posco orders X-roll® heavy-plate rolling mill

Wed, 28 Feb 2007 00:00:00 GMT

Posco has announced that it has awarded SMS Demag AG, a contract for the supply of a 5.5-m X-Roll® heavy-plate rolling mill. Supplies include the highpressure descaler, roughing stand with flanged-on vertical edger, finishing stand, plate cooling system with pre-leveler, hot plate leveler, shear line and cold plate leveler.

The new mill will be set up in Gwangyang on the Korean south coast and will start operations in mid-2010. It is rated for the production of plates, which are 6 to 200 mm thick and between 900 and 5,400 mm wide. The annual production in the first stage of construction will amount to 2.0 million t of finished plates. For Posco's new mill we will supply a hot-plate leveler plus a cold-plate leveler in 9/5 design with an extended leveling range, thus ensuring excellent plate flatness.