Metallurgy news
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In Slovakia, the U.S. Steel made a profit in the first quarterUS Steel Corporation (USS) reported earnings and that its earnings were positively impacted by higher prices and economic savings programs. Net income was $ 52 million, or 34 cents per share, in the same period last year, and a loss of $ 73 million, or 51 cents per share, was recorded. In Slovakia…
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The Tata Group encourages innovation across all business sectorsThe Tata Group plans to promote the development of innovative programs at the group level in all of its companies. Currently, most of the group's companies innovate in isolation and independently of each other, said Mukund Govind Rajan, a member of the conglomerate's executive board. In 2007, the…
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Barrett Steel expands in IrelandBarrett Steel marks further expansion with the launch of a new subsidiary in Ireland. The company opens its engineering department, Barrett Engineering Steel, to develop and manufacture a range of engineering steels and alloys from its Maghaberry business unit. The company has already achieved…
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EU economy is gaining momentumThe forecast of the Economic Committee of the European Steel Association EUROFER confirms that the EU economy, including the metallurgical sector, is well on its way to recovery, providing evidence of an improvement in its economic foundations and productivity compared to the recent past…
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ArcelorMittal and Saarstahl accused of collusion in setting pricesDeutsche Bahn said several lawsuits have been filed against a number of metallurgical companies, including ArcelorMittal and Saarstahl, which damaged the German rail operator. Deutsche Bahn claims that its losses were caused by fixing excessively high prices for railroad ties. “The companies…
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Strong euro becomes a cause for concern for metallurgists - EUROFERThe euro has remained remarkably stable this year, showing only limited volatility against the US dollar and other foreign currencies. The recorded fluctuations in the euro exchange rate are mainly associated with monetary policy trends in the Eurozone and countries such as the United States and…
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Siemens will sell VAI Metals TechnologiesThe German company Siemens is going to sell a majority stake in its VAI Metals Technologies division to the Japanese company Mitsubishi Heavy Industries, the Austrian newspaper reported citing industry experts. Within Siemens, the portfolio of VAI Metals Technologies includes mechanical equipment…
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Metallurgprom expects to produce 29 million tons of steel in UkraineAlexander Zrazhevsky, General Director of the Metallurgprom Production Association, expects that in 2014 Ukraine will produce 29 million tons of steel. The main purpose of the association is to coordinate the activities of enterprises of the mining and metallurgical complex. Zrazhevsky said that…
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JSW Steel launches second cold rolling mill in KarnatakaJSW Steel Limited has commissioned its new Cold Rolling Mill 2 (CRM-2) at its facility in Vijayanagar, Karnataka. The new CRM-2 complex, with a production capacity of 2.3 million tons per year, is the most complex in configuration and will be able to produce advanced high-strength steels such as…
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EU ban on gas imports from Russia will cause serious problems in the European economyThe Fitch rating agency said that the introduction of a ban on Russian gas imports to the EU would cause a significant disruption to the economy and affect all industries in Europe. The region will suffer from gas shortages and high prices amid limited capacity for alternative sources of gas supply…
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