Metallurgy news

• Krakatau Steel presents first quarter results Indonesia's state-controlled largest steelmaker Krakatau Steel, based in Cilegon, reported losses in the first quarter of this year, citing low revenue. Against this backdrop, Krakatau Steel has cut its planned overhaul costs for this year to $ 500 million from an initial estimate of $ 800... 01.05.2014  10:19

• Gazprom reaches agreement with OMV and Allseas on South Stream construction Gazprom signed an agreement with the Swiss company Allseas Group for the construction of a pipeline in the Black Sea, and a preliminary agreement was reached with the Austrian company OMV for the construction of a pipeline to be completed in Austria. Allseas is expected to lay a pipe about 900... 30.04.2014  18:15

• In Slovakia, the U.S. Steel made a profit in the first quarter US 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... 30.04.2014  17:34

• The Tata Group encourages innovation across all business sectors The 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,... 30.04.2014  17:09

• Barrett Steel expands in Ireland Barrett 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... 29.04.2014  10:57

• EU economy is gaining momentum The 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.... 29.04.2014  09:58

• ArcelorMittal and Saarstahl accused of collusion in setting prices Deutsche 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 i... 29.04.2014  09:21

• Strong euro becomes a cause for concern for metallurgists - EUROFER The 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... 28.04.2014  19:00

• Siemens will sell VAI Metals Technologies The 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... 28.04.2014  11:34

• Metallurgprom expects to produce 29 million tons of steel in Ukraine Alexander 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... 27.04.2014  13:00