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'Strategic Cooperation Agreement Singed between Baosteel and CSSC'

2008-07-03T16:24:40Z

On Jan. 1st morning, a strategic cooperation agreement was singed in Baosteel Tower between Baosteel Group Company and CSSC. From now on, both companies shall deepen the cooperation on steel supply, technical development, logistic distribution, metal processing, information sharing, after-sales service and enterprise management etc. to cope with the negative influence brought by the economic crisis. This year, CSSC will have a 20%+ growth over last year on the total procurement of Baosteel plates.

Baosteel Group Company Board Chairman Mr. Xu Lejiang, President Mr. He Wenbo, CSSC company President Mr. Tan Zuojun, Chief Accountant Mr. Sun Yunfei were present at the signing ceremony. Baosteel Co., Ltd Deputy President Mr. Li Yongxiang was presiding over the ceremony. Representing on their companies respectively, Baosteel Co., Ltd Deputy President Mr. Jiang Licheng and CSSC Assistant to President Mr. Sun Wei signed on the strategic cooperation agreement.

CSSC is the leading company in China's Ship-building industry and the biggest national ship-building group as well as a core manufacturer of navy equipment. In Oct. 2001, Shanghai Waigaoqiao Shipbuilding Co., Ltd was co-founded by Baosteel and CSSC; in Dec. 2003, both companies signed on the memo of cooperation by commonly promoting the development and reorganization of shanghai ship-building industry which has brought the relationship to a closer extent. In particular, since Feb. 2005 both companies signed on the overall strategic cooperation agreement, CSSC has been always putting a preference on Baosteel plates in its procurement with the latter providing its supply with priority.

In his speech, Mr. Tan Zuojun stated that Baosteel is the biggest ship plate supplier for CSSC as well as one of its most significant strategic cooperation partners. Both companies have solid foundation and broad prospective for their cooperation. Since the first signing on the overall strategic cooperative agreement, Baosteel has been always committed to meeting with the requirements of the ship builder within the CSSC on ship plates, and CSSC has received tremendous support from the CSSC. From now on, CSSC shall continue to maintain the long-term cooperation, exempting market risk and bring the strategic cooperation to a higher level.

Board Chairman Mr. Xu Lejiang mentioned in the speech that the needs of CSSC is the driving force of constant progress of Baosteel heavy plate products; with the establishment of Baosteel 5m heavy plate project and the operation of Luojing heavy plate base, the production technology and logistic capability of Baosteel ship plates have been enhanced to great extent. Baosteel shall further reinforce our input to further suit the development of future ship-building industry. Mr. Xu stressed that, under the great guidance of "National building of national ships" "national shipment of national goods" "national appliance of national steel", Baosteel would like to take hand by hand with CSSC to actively participate in and support the latter's research and development, manufacturing and supply of related products in some new business sectors such as oil tanker with over 250,000 tonnage and ocean crude oil platform etc., so as to promote a closer, broader and higher level of strategic cooperation between both companies, consolidate the advantaged status of two companies in their respective industry chains, acquire more policy support and discursive hegemony by better service and more stable cost.'

'AK Steel Announces February 2009 Surcharges For Electrical and Stainless Steels'

2008-07-03T16:24:40Z

'AK Steel (NYSE: AKS) has advised its customers that a $165 per ton surcharge will be added to invoices for electrical steel products shipped in February 2009. February 2009 surcharges for the broad range of stainless steel products that AK Steel produces can be found on the company’s web site at www.aksteel.com.

AK Steel’s surcharges are based on reported prices for raw materials and energy used to manufacture the products, with the December 2008 purchase cost used to determine the February 2009 surcharges.

About AK Steel
AK Steel produces flat-rolled carbon, stainless and electrical steels, primarily for automotive, appliance, construction and electrical power generation and distribution markets. The company employs about 6,500 men and women in Middletown, Mansfield, Coshocton and Zanesville, Ohio; Butler, Pennsylvania; Ashland, Kentucky; Rockport, Indiana; and its corporate headquarters in West Chester, Ohio. Additional information about AK Steel is available on the company’s web site at www.aksteel.com.

AK Tube LLC, a wholly owned subsidiary of AK Steel, employs about 300 men and women in plants in Walbridge, Ohio and Columbus, Indiana. AK Tube produces carbon and stainless electric resistance welded (ERW) tubular steel products for truck, automotive and other markets. Additional information about AK Tube LLC is available on its web site at www.aktube.com.

'Long products for the Ukraine: Siemens modernizes heavy-section rolling mill and merchant-bar line for Dneprovsky Iron and Steel '

2008-07-03T16:24:40Z

Siemens VAI Metals Technologies has received an order from the Ukrainian steel producer OJSC Dneprovsky Iron and Steel Integrated Works to fundamentally refurbish two long-product lines in the company's Dneprodzerzhinsk factory. The project includes the engineering and supply of mechanical equipment, the electrical and automation systems for a heavy-section line and a merchant-bar rolling mill. The order volume is in the upper two-digit million euro range. The two installations are scheduled to start production in the course of 2010.

Dneprovsky Iron and Steel Integrated is a majority holding of the Industrial Union of Donbass group. Located in Dneprodzerzhinsk, the company has an annual output of around 3.8 million metric tons of rolled steel products. Refurbishing of the two long-product lines is intended to increase the production capacity, enable expansion of the range of products and improve the quality of the finished products. At the same time, the operating costs are to be reduced.

The heavy-section line is designed for an annual production of around one million metric tons of sheet pile, angle steel and channel steel as well as girders with web heights of up to 900 millimeters. For the comprehensive modernization of the rolling line, Siemens is supplying the slab and bloom feeder, a reheating furnace with an hourly capacity of 230 metric tons, and the descaler. The existing blooming stand (BDM1) is to be modernized and a new blooming stand (BDM2) is to be installed. This will be followed by a reversing stand group composed of two universal stands with an edger between them. At the end, there will be a finishing line composed of an edger and a universal stand. Red Ring rolling stands will be used throughout. A hot-saw machine, a 125-meter cooling bed with spray cooling, a straightener and cold-saw systems are also part of the project as are an inline measuring system, stacking, bundling, weighing and marking equipment and systems for the working media. Ready-to-operate chocks for the blooming stands, replacement cassettes

1 / 2 Siemens AG Corporate Communications and Government Affairs Wittelsbacherplatz 2, 80333 Munich Germany Reference number: IIS200810.150e fp Media Relations: Dr. Rainer Schulze Telephone: +49 9131 7-44544 E-mail: rainer.schulze@siemens.com Siemens AG Industry Sector - Industry Solutions Division Schuhstr. 60, 91052 Erlangen, Germany 2 / 2 Siemens AG Corporate Communications and Government Affairs Wittelsbacherplatz 2, 80333 Munich Germany Reference number: IIS200810.150e fp Media Relations: Dr. Rainer Schulze Telephone: +49 9131 7-44544 E-mail: rainer.schulze@siemens.com Siemens AG Industry Sector - Industry Solutions Division Schuhstr. 60, 91052 Erlangen, Germany
for universal and edging stands as well as a spare-parts package for non-repairable components round off the mechanical equipment. Siemens is also providing the power distribution systems from the medium and low-voltage transformers as well as the complete basic and process automation systems.

The merchant-bar line has an annual capacity of 900,000 metric tons. It can produce rounds with diameters of between 5.5 and 20 millimeters as well as rebars with thicknesses of 6 to 20 millimeters. Siemens VAI will add a rolling train to the existing wire-rod line, in order to make it independent from the presently combined rolling mill. This will increase the plant's production capacity and enable more flexible production planning. The new rolling mill will incorporate a billet feeder, a 160 metric-ton reheating furnace and a descaler. This will be followed by a six-stand roughing mill, a six-stand intermediate mill and a six-stand pre-finishing mill. The rolling stands are also based on Red Ring technology. Adherence to the prescribed tolerances is checked by an inline measuring system. On top of all this, Siemens VAI is supplying equipment for the shears as well as new machinery for coil compacting and coil cropping. Siemens is also to provide the extension of the coil transfer equipment and install the systems for the liquid working media. The medium-voltage power distribution as well as the basic and process automation are also part of the project. Replacement stands and spare parts round off the scope of supply.

For both the installations, Siemens VAI is responsible for monitoring the installation and commissioning work and also for customer training.

Further information about solutions for steel works, rolling mills and processing lines is available at
http://www.siemens.com/metals

The Siemens Industry Sector (Erlangen, Germany) is the world's leading supplier of production, transportation and building systems. Integrated hardware and software technologies combined with comprehensive industry-specific solutions enable Siemens to enhance the productivity and efficiency of its customers in industry and infrastructure. The Sector comprises six Divisions: Building Technologies, Industry Automation, Industry Solutions, Mobility, Drive Technologies and Osram. In fiscal 2007 (ended September 30), Siemens Industry generated sales of approximately EUR40 billion (pro forma, unconsolidated) with around 209,000 employees worldwide. http://www.siemens.com/industry
With the business activities of Siemens VAI Metal Technologies, (Linz, Austria), Siemens Water Technologies (Warrendale, Pa., U.S.A.), and Industry Technologies, (Erlangen, Germany), the Siemens Industry Solutions Division (Erlangen, Germany) is one of the world's leading solution and service providers for industrial and infrastructure facilities. Using its own products, systems and process technologies, Industry Solutions develops and builds plants for end customers, commissions them and provides support during their entire life cycle.

Further information and downloads at: http://www.siemens.com/industry-solutions
Siemens AG Corporate Communications and Government Affairs Wittelsbacherplatz 2, 80333 Munich Germany Reference number: IIS200810.150e fp Media Relations: Dr. Rainer Schulze Telephone: +49 9131 7-44544 E-mail: rainer.schulze@siemens.com Siemens AG Industry Sector - Industry Solutions Division Schuhstr. 60, 91052 Erlangen, Germany

'Alliance between Nippon Steel and Topy Industries '

2008-07-03T16:24:40Z

Today, Nippon Steel Corporation (Principal place of business: Chiyoda-ku, Tokyo; President: Shoji Muneoka; hereinafter “Nippon Steel”) and Topy Industries, Ltd. (Principal place of business: Shinagawa-ku, Tokyo; President: Yoshiro Shimizu; hereinafter “Topy Industries”) have reached agreement to substantially strengthen their mutual alliance (hereinafter the “Alliance”) with the objectives of enhancing the competitiveness and increasing the corporate value of both companies.

Thus far, Nippon Steel and Topy Industries have received and commissioned orders to one another for steel rolling operations, and Nippon Steel has supplied steel products and semi-finished products to Topy Industries. Looking ahead, however, to respond to fluctuations in demand for steel and tougher international competition, the two companies have decided to implement further alliance measures.

In addition, Nippon Steel has decided to purchase the voting shares of Topy Industries up to 20% (a level at which to come under the equity method), to clarify the position of Topy Industries as a Nippon Steel Group company and increase the smooth and secure operation of the Alliance.
In specific terms, Topy Industries has decided to implement a third-party private placement of new shares to raise a portion of the funds it needs for installing state-of-the-art equipment and meeting other objectives and has requested that Nippon Steel subscribe to these new shares. As a result of subscribing to this issue, Nippon Steel will raise its ownership percentage of voting shares of Topy Industries from the current 7.5% to more than 15%, which is required for accounting for Topy Industries under the equity method. In addition, Nippon Steel will purchase additional shares of Topy Industries in the stock market, bringing its total ownership share to 20%.

Topy Industries will also purchase a certain amount of Nippon Steel shares.

One of the principal features of Topy Industries’ operations is its “integrated manufacture extending from raw materials to finished products.” Topy Industries is a comprehensive metal processing manufacturer with top-level international market shares for transportation-related machinery products, including automotive wheels and undercarriage components for construction machinery. The Alliance with Nippon Steel is believed likely to contribute to increasing the corporate value of both companies.

At present, the following matters related to the Alliance have been discussed and agreed upon:

1. To strengthen the competitiveness of Topy Industries through bringing its steel-making facilities to state-of-the-art levels (through renewal and expansion in the scale of its electric furnace and continuous casting equipment) and the efficient joint use of steel-making facilities
(a) Transition to in-house production of billets for small steel bars at Topy Industries, which are currently supplied by Nippon Steel to Topy Industries
(b) Use at Nippon Steel of blooms produced by the state-of-the-art electric furnace and continuous rolling facilities of Topy Industries (as a measure for enhancing Nippon Steel’s steel-making capabilities)
2. To implement measures to strengthen competitiveness about integrating manufacture from steel-making to rolling of section steel in cooperation with Topy Industries, which has internationally top-class processing technology for deformed section steel.
(a) Expansion of integrated subcontracted work, from Nippon Steel to Topy Industries, from steel-making to rolling of section steel
3. To implement individual alliance measures related to the steel business
(a) Substantially strengthening joint development initiatives related to Topy Industries’ automotive wheels and Nippon Steel’s high-tensile strength steel sheets and continued stable supply from Nippon Steel of steel sheets for automotive wheel manufacturing
(b) Continuing the stable supply of specialty steel bars from Nippon Steel to Topy Industries for manufacturing undercarriage components for construction machinery
(c) Continuing the stable supply of heavy and medium steel plates and H-beams from Nippon Steel to Topy Industries for use in bridge construction
(d) Considering and implementing joint responses to capture demand for section steel in China, the ASEAN region, and elsewhere
4. To jointly consider electric furnace dust recycling in the central Japan region

In addition, at the meeting of Topy Industries’ board of directors held on May 25, 2007, the directors voted to approve that company’s “Plan for Responding to Large Purchases of Company Shares (Takeover Prevention Plan)” (hereinafter, “the Plan”). However, if synergies emerge as a result of this Alliance and it is believed likely that Topy Industries’ corporate value will increase, after consideration of the conditions and content for share acquisitions by Nippon Steel and the possibility that conditions of the Plan may apply, Topy Industries’ board of directors has today determined that this Alliance will not be subject to the procedures specified in the Plan and will not constitute a large purchase of its shares as specified in the Plan.

For further information, please contact:

Nippon Steel
Public Relations Center, General Administration Division
Tel.: 81-3-3275-5021, -5022, or -5023
Topy Industries
General Affairs Department
Tel.: 81-3-3493-0777

Additional Information

1. Outline of the Two Companies

Company name	Nippon Steel	Topy Industries
Representative	Shoji Muneoka, Representative Director and President	Yoshiro Shimizu, Representative Director and President
Head office address	6-3, Otemachi 2-chome, Chiyoda-ku, Tokyo	2-2, Osaki 1-shome, Shinagawa-ku, Tokyo
Date of establishment	April 1950	October 1921
Paid-in capital*	¥419,524 million	¥18,093 million
Number of shares issued*	6,806,980,977	220,775,103
Number of share held in the other company* (% ownership)	1,200,000 (0.018%)	16,593,641 (7.51%)
Number of employees*	48,757	4,133
Principal indicators:* Net sales	¥4,826,974 million	¥296,629 million
Operating income	¥545,580 million	¥12,888 million
Recurring income	¥564,119 million	¥11,784 million
Net income	¥354,989 million	¥6,366 million
Total assets	¥5,193,498 million	¥231,887 million
Net assets	¥2,413,954 million	¥83,217 million

* As of March 31, 2008, consolidated basis

2. Principal Shareholders of Topy Industries (As of March 31, 2000)

Ranking	Shareholder	Shares owned	Ownership (%)
1	Nippon Steel (After the previously mentioned share acquisitions)	16,593,641	7.51 (20)
2	Japan Trustee Service Bank, Ltd. (Trust Account)	12,634,000	5.72
3	Mizuho Corporate Bank, Ltd.	10,878,024	4.92
4	Meiji Yasuda Life Insurance Company	10,651,345	4.82
5	The Master Trust Bank of Japan, Ltd. (Trust Account)	8,666,000	3.92
6	Topy Fund	6,954,807	3.15
7	Mizuho Trust and Banking Co., Ltd.	6,893,000	3.12
8	Resona Bank, Ltd.	5,909,055	2.67
9	Sonpo Japan Insurance Inc.	5,746,000	2.60
10	Topy Industrie shareholders association	4,552,439	2.06

'Siemens Receives Five Contracts from China for Dry-Type Dedusting Systems'

2008-07-03T16:24:40Z

Substantially Reduced Dust Emissions Combined with Gas Recovery

Siemens VAI Metals Technologies received five contracts from five Chinese steelmaking companies for the installation of dry-type dedusting systems (DDS) in LD (BOF) steelmaking plants.

The reason behind these projects is to meet the increasingly strict environmental regulations being imposed throughout China with respect to industrial emissions through the installation of efficient and cost-effective technologies.

In each of these projects, converter gas with a high energy content from mainly carbon monoxide will be collected and stored for subsequent energy applications. The total order value for Siemens exceeds 30 million euros. All of the dedusting facilities are scheduled for start-up between mid-2009 and the first quarter of 2010.

In the oxygen-steelmaking process, large quantities of gas are released from the LD (BOF) converters which contain high concentrations of dust and carbon monoxide. The converter gas is first processed in a dedusting facility to remove both coarse and fine dust particles. In a second step, the CO-rich gas is recovered and stored in a gasholder for subsequent energy applications.

Siemens VAI is the leading supplier of DDS in China and has received most of the contracts awarded by Chinese steel producers in recent years. For five different Chinese steel producers Siemens VAI will provide engineering and supply key equipment for dry-type dedusting systems, including energy recovery, for new LD (BOF) converters currently under construction. The Siemens solution will reduce the dust content of the raw converter gas to a minimum in order to meet the stringent environmental requirements.

The largest project is being executed at the steel giant Shougang. The Beijing-based company is currently relocating production facilities to the adjacent Hebei province, where, in a joint venture with the Hebei-based Tangshan Iron and Steel Group, a new steel works named Shougang Jingtang United Iron and Steel Co. Ltd. is being erected on Caofeidian Island, some 80 kilometers south of Tangshan City. Three 300-ton converters in Phase I of this project, which are being supplied by Siemens VAI, are scheduled for start-up at the end of 2008. For Phase II of this project, dedusting and gas-recovery systems will be installed for two 300-ton converters on the basis of Siemens VAI engineering and special-equipment supply.

At Qian'an Iron & Steel Co., Ltd. (Shougang Group), located in the city of Qian'an to the east of Beijing in Hebei Province, two new 210-ton converters will be equipped by Siemens VAI with DDS and gas-recovery facilities.
At Hunan Valin Lianyuan Iron & Steel Co., Ltd. in Lianyuan, Hunan Province, two new 210-ton converters will be equipped with DDS, including gas-recovery systems.

Similarly, DDS with gas recovery will be installed in two 150-ton oxygen converters at Jiang Yin Xing Cheng Special Steel Works Co., Ltd., located in the coastal province of Jiangsu in the city of Jiang Yin.

Finally, at Wuhan Iron & Steel Group Echeng Iron & Steel Co., Ltd., located in the city of Echeng near Wuhan in Hubei Province, a new offgas-dedusting system, including gas recovery, is being installed to treat the offgas from a single 130-ton converter.

For all of these projects Siemens VAI will basically provide engineering of key equipment (e.g., evaporation cooler, electrostatic precipitator, gas cooler) and will supply special equipment such as ID fans and motors and for the gas-recovery system, special valves and the hydraulic station. Additionally, special measurement instrumentation, high-voltage generation units and electrical control cabinets for the electrostatic precipitators, the gas-analysis system and Level 1 automation will be supplied. Siemens VAI is also providing advisory services for the manufacturing, assembly, start-up and commissioning activities.

In the DDS process, the converter offgas is ducted from the cooling stack into an evaporation cooler where water and steam are sprayed into the gas stream by means of dual-flow nozzles. Coarse dust is also removed from the off-gas in the evaporation cooler. Fine dust is removed in an electrostatic precipitator by means of four high-voltage fields. The cleaned converter offgas is exhausted through the system by the induced-draft fan, and the composition of the gas is analyzed continuously. Depending on the CO content, a switchover station directs the cleaned converter gas either to the flare or to a gasholder for subsequent use in a steelmaking or power generation plant.

With the business activities of Siemens VAI Metal Technologies, (Linz, Austria), Siemens Water Technologies (Warrendale, Pa., U.S.A.), and Industry Technologies, (Erlangen, Germany), the Siemens Industry Solutions Division (Erlangen, Germany) is one of the world's leading solution and service providers for industrial and infrastructure facilities. Using its own products, systems and process technologies, Industry Solutions develops and builds plants for end customers, commissions them and provides support during their entire life cycle.

Siemens AG
Corporate Communications and Government Affairs
Wittelsbacherplatz 2, 80333 Munich
Germany
Reference number: IS0708.7149e fp

Media Relations: Dr. Rainer Schulze
Telephone: +49 9131 7-44544
E-Mail: rainer.schulze@siemens.com

Siemens AG
Industry Sector - Industry Solutions Division
Schuhstr. 60, 91052 Erlangen, Germany
Weitere Informationen: www.siemens.com/metals
www.siemens.com/industry
www.siemens.com/industry-solutions

'SSI raises stake in TCRSS to above 50%'

2008-07-03T16:24:40Z

SSI moves forward in high-end steel sheet sector after acquiring upto 50.15% shareholding in TCRSS. Allying with JFE Steel and Marubeni, SSI is now integrated from mid-stream to down-stream in the steel sheet industry, enhancing its competitiveness and business stability as well as advancing the Thai steel industry to a higher level.

Mr. Win Viriyaprapaikit, President of Sahaviriya Steel Industries PLC or “SSI” announced that the Company had completed its shares purchase in Thai Cold Rolled Steel Sheet PLC (“TCRSS”) from the two Japanese major shareholders, JFE Steel Corporation and Marubeni Corporation, at a total share of 335,790,500 shares, representing a total investment of Bt. 3,453,256,973.22 million, which was funded by loans from the local financial institutions. As a result, SSI now owns 50.15% shares in TCRSS, followed by JFE Steel Corporation at 22.4% and Marubeni Corporation at 22.2%, while the remaining is owned by other minor shareholders.

Mr. Win said “this investment will strengthen our production base and marketing position by stabilizing and increasing distribution channels for our high-grade hot-rolled steel sheet products. In addition, SSI and TCRSS will be able to co-operate efficiently in the areas of raw material procurement, inventory management, and production, which will further reduce production costs and enhance competitiveness for both companies. SSI will increase its management participation in TCRSS while our two important partners - JFE Steel Corporation and Marubeni Corporation - will continue their support in the area of technology, finance, marketing as well as R&D in order to develop product innovation into the market.”
Consequently, SSI’s and TCRSS’s customers, both current and future, will enjoy high-standard product support and technical services consistently across the marketing platforms through an efficient cooperation between the two companies.

Mr. Win added that “this investment is an important step to pave the way for the Thai steel industry to become the leader in ASEAN and maintain competitiveness globally. With investments in various assets surrounding its core Hot Strip Mill asset, ranging from the Cold Strip Mill, the Electro-Galvanizing Line, the Deep-Sea Port for loading steel raw materials and products, and the Engineering & Plant Maintenance Service Business, SSI can efficiently integrate vertically its flat steel production configuration from mid-stream to down-stream. Thus its facilities at the Bang Saphan Steel Industrial Estate has now become the only integrated production base of high-grade steel sheets in ASEAN. This represents a strong commitment of SSI in pursuing its vision as a market leader of high-grade steel sheets in ASEAN and creating sustainable value to stakeholders in order to achieve growth and sustainability as well as to secure a place for the Thai steel industry in the world market.”

“Demand for high-grade steel sheets in ASEAN will continue to grow strongly over the next several years. Our products will play significant role in upgrading the standard of living for people in many areas such as energy, transportation, container and packaging, IT equipments, furniture and electrical appliances, etc. Steel consumption will increase along with the improvement of the people’s standard of living in ASEAN.”, Mr. Win said finally.

Thai Cold Rolled Steel Sheet Public Company Limited (“TCRSS”) was established in November 1995, with strong support from its main shareholders e.g. SSI, JFE Steel Corporation and Marubeni Corporation. Its main business is to manufacture and sell cold rolled steel sheets for various applications such as the automobile industry. TCRSS’s annual production capacity is 1.2 million tons at its plant in Prachuabkirikan. Its paid-up capital presently is Bt 10,703 million.

'Baosteel Large Diameter Longitudinal Welding Pipe Production Line Put into Production'

2008-07-03T16:24:40Z

President of Baosteel Group Corporation He Wenbo announced at 11:18 am Sep. 19 that Baosteel Large Diameter Longitudinal Welding Pipe Production Line is officially put into production. The completion and start production of the Line filled the gap of high grade large diameter oil/gas transportation pipe production of China, which would bring along the progress of the production technology of large diameter longitudinal submerged arc welding pipe of China. Further more it will have far-reaching significance in promoting the development of the national economy and the implementation of China's energy source strategy, by forcefully promoting the construction of the West-to-East Gas Pipe Line No. 2 Project and other major projects of the country.

Vice President of CNPC Liao Yongyuan, Baosteel leaders Li Haiping, Cui Jian, Jiang Licheng & Pang Yuanlin, representatives from engineering design, equipment manufacture, capital & material supply, metallurgic construction, and the foreign cooperator, and people in charge from the parties concerned from Baosteel Co.,Ltd., Baosteel Branch, etc. totally more than 200 people attended the startup ceremony and witnessed this historical moment together.

The Large Diameter Longitudinal Submerged Arc Welding Pipe Project is a major project of the 11th "Five-Year Plan" of Baosteel as well as the first such line in China, and one of the lines with the most advanced equipment in the world at the current time. The construction of this production line was started on Feb. 9, 2006. It comprises the forming line, welding line and finishing line. The designed annual capacity is 500,000 MT/a, including 400,000 MT pipeline pipe and 100,000 MT of structural pipe and so on. The designed maximum steel grade of the products is X100.

Ever since the construction of the project, Baosteel engineers and technicians have been taking a road of independent integration & innovation; they cooperate with the engineering design, equipment manufacture, capital & material supply, metallurgic construction and the foreign supervisors, thus ensured the smooth progress of the project and put the whole line into combined hot commissioning on January 31, 2008.

In order to achieve volume production promptly, with great support from Baosteel Co.,Ltd., Baosteel Branch and other relevant departments, Baosteel Branch Steel Pipe Plant carried out equipment function improvement and key technological problem tackling, focused on production, equipment and process engineering. As a result, they gradually mastered the consistent manufacturing technology of large diameter high grade longitudinal welding pipe, and started to supply X80 pipeline pipe in lots to the West-to-East Gas Pipe Line No. 2 Project. At the moment, the monthly production of the Line has reached 20,000 MT. It has passed the new product appraisal by the CNPC organizations; it marked that Baosteel Large Diameter Longitudinal Welding Pipe Production Line had entered the stage of volume production and supply.

'SAIL signs MoU with IIM, Ahmedabad for knowledge sharing'

2008-07-03T16:24:40Z

To meet the challenges of Human Resource Development keeping in view its ongoing modernisation and expansion programme, aMemorandum of Understanding (MoU) has been signed between Management Training Institute (MTI), the Corporate Training centre of Steel Authority of India Limited (SAIL) and leading business school, Indian Institute of Management (IIM), Ahmedabad. Shri S. P. Patnaik, Executive Director (HRD), SAIL/ MTI and Prof. SK Barua, Director, IIM Ahmedabad signed the MoU in the presence of Shri G. Ojha., Director (Personnel)/SAIL and Shri Gautam Mukherjee, Executive Director (Personnel &Administration)/SAIL at Ispat Bhavan, New Delhi today.

Under the MoU, the scope of the collaborative efforts being addressed include faculty support for SAIL programmes from IIM Ahmedabad, faculty support from SAIL in IIM Ahmedabad programmes, Joint research and development of case studies, special programmes for SAIL executives at IIM Ahmedabad and access to literature and library resources.

The MoU marks a significant step in the consolidation of an industry-academic interface that would enhance SAIL's access to knowledge about latest management practices across the world, and knowledge of good practices in SAIL can be validated and disseminated across the world in the form of case studies and references in management literature. While strengthening SAIL's HRD initiatives and fructifying its future plans more effectively, the MOU is an important step undertaken in the Golden Jubilee year of production celebration to enrich management development.

In line with its sustained endeavor to enhance the exchange of knowledge with reputed knowledge Institutions and to consolidate its position as a leading corporate training centre in the country, MTI/SAIL also has collaborative tie-ups with Management Development Institute (MDI), Gurgaon , Indian Institute of Management, Indore and Indian School of Mines University, Dhanbad for exposing its managers to the latest management concepts.

'Sinosteel Corporation Signing the Strategic Cooperation Agreement with Shougang Group'

2008-07-03T16:24:40Z

On the afternoon of the 10th September, Sinosteel Corporation and Shougang Group signed a strategic cooperation agreement in Shougang headquarter. Sinosteel President Huang Tianwen, Secretary of the Party Zhang Huanguang, Vice President Li Zhimin, Chief Accountant Liu Andong; Shougang Board Chairman Zhu Jimin, General Manager Wang Qinghai, Executive Vice General Manager Xu Yi, Vice General Manager Liu Shuiyang, Chief Accountant Fang Jianyi attended the signing ceremony. President Huang Tianwen and Board Chairman Zhu Jimin delivered addresses on the ceremony separately. Then, President Huang and GM Wang Qinghai signed on the agreement on behalf of each party.Sinosteel has kept cooperation relationship with Shougang for long standing. The two parties has kept stable business cooperation relationship on metallurgic raw materials & accessory materials, engineering contract, product sales, scientific and technological R & D and so on.

The establishment of strategic cooperation partnership will further consolidate extensive, all-round and deep cooperation, carry out science development view completely, promote the healthiness development of Chinese iron & steel industry, strengthen on the vigour, control and influence of the State-Owned economy, which have important strategic meaning and profound effect.

Before the signing ceremony, accompanied by GM Wang Qinghai, President Huang Tianwen and Secretary Zhang Hanguang and their entourage visited Shougang exhibition room and the second steel-making mill.

Heads of Sinosteel functional departments, specialized companies, scientific & technological companies, production companies and overseas subsidiaries; and Shougang functional departments and subsidiaries also attended the signing ceremony.

'Sims Group Limited Acquires Weinert Recycling'

2008-07-03T16:24:40Z

Sims Group Limited (Sims) announced today it has acquired the assets of Weinert Recycling, a ferrous and non ferrous scrap metal recycler with operations in Middletown and Liberty, New York. The financial terms of the deal, including price, were not disclosed, however the cost is not material to Sims.

Cautionary Statements Regarding Forward-Looking Information

This release may contain forward-looking statements, including statements about Sims’ financial condition, results of operations, earnings outlook and prospects. Forward-looking statements are typically identified by words such as “plan,” “believe,” “expect,” “anticipate,” “intend,” “outlook,”“estimate,” “forecast,” “project” and other similar words and expressions.

These forward-looking statements involve certain risks and uncertainties. Our ability to predict results or the actual effects of our plans and strategies is subject to inherent uncertainty. Factors that may cause actual results or earnings to differ materially from these forward-looking statements include those discussed and identified in filings we make with the Australian Securities Exchange and the United States Securities and Exchange Commission, including the risk factors described in the Registration Statement on Form F-4 we filed with the United States Securities and Exchange Commission on 8 February 2008.
Because these forward-looking statements are subject to assumptions and uncertainties, actual results may differ materially from those expressed or implied by these forward-looking statements. You are cautioned not to place undue reliance on these statements, which speak only as of the date of this release.

All subsequent written and oral forward-looking statements concerning the matters addressed in this release and attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this release. Except to the extent required by applicable law or regulation, we undertake no obligation to update these forward-looking statements to reflect events or circumstances after the date of this release.

About Sims

Sims (www.sims-group.com) is the world’s largest listed metal recycler with over 230 operations globally. Sims’ core businesses are metal recycling and recycling solutions. Sims earns around 80 per cent of its revenue from international operations in the United Kingdom, Continental Europe, North America, New Zealand and Asia. Sims has over 6,000 employees, pro-forma turnover in fiscal 2008 of over AUD 10 billion and has its ordinary shares listed on the Australian Stock Exchange (ASX CODE: SGM) and its ADRs listed on the NYSE (NYSE SYMBOL: SMS).