Tata Steel has signed a memorandum of understanding (MoU) with Australia-based mining major BHP with an objective to jointly understand and explore lower carbon iron and steelmaking technology. The partnership is expected to see BHP and Tata Steel work together on ways to cut down the intensity of emissions of the blast furnace steel route. […]
Germany-based BENTELER Group said that it will divest its steel tube plant in Shreveport, Louisiana to Tenaris, a steel pipe products manufacturer and supplier based in Luxembourg, for a price of $460 million. According to BENTELER Group, the decision to sell the steel tube plant in Shreveport was taken after a comprehensive analysis. The German […]
Tata Steel Long Products said that it has accepted the letter of award (LoA) issued by the Indian government’s Department of Investment and Public Asset Management (DIPAM) pertaining to the acquisition of a 93.71% stake in Neelachal Ispat Nigam Limited (NINL). The consideration for the stake in Neelachal Ispat Nigam Limited is INR 12,100 crores. […]
Tata Steel said that its subsidiary Tata Steel Long Products has prevailed in a bidding process to acquire a stake of 93.71% in Neelachal Ispat Nigam Limited (NINL) for INR 12,100 crores. The auction process is being carried out by the Indian government’s Department of Disinvestment & Public Asset Management (DIPAM). Neelachal Ispat Nigam has […]
Ashoka Metcast Limited, an Indian manufacturer of structural steel products, has acquired an additional stake of 3.03% in Rhetan TMT Limited (formerly Rhetan Rolling Mills), a steel construction company based in Ahmedabad, for a sum of INR 2.8 crores. The stake was acquired by converting a loan given by Ashoka Metcast to Rhetan TMT into […]
Nippon Steel Corporation (NSC) said that it will acquire Thailand-based flat steel producers G Steel Public Company Limited and GJ Steel Public Company Limited to gain access to their steel mills for up to JPY 88 billion ($763 million). The Japanese steelmaker has signed a share purchase agreement with funds managed by Ares SSG, which […]
Nucor Corporation has selected Mason County in West Virginia for its nearly $2.7 billion worth new sheet mill that will produce three million tons of steel per annum. According to the American steel production company, the West Virginia location on the Ohio River offers it key advantages in transportation and logistics. Apart from that, the […]
JSW Steel has reported production of 14.6 lakh tonnes of crude steel for the month of November 2021, an increase of 10% compared to 13.32 lakh tonnes of the same month in the previous year. The Indian steel company had produced 14.25 lakh tonnes of crude steel in October 2021. In November 2021, JSW Steel […]
Hi-Tech Pipes Limited has reported a 21% growth in its revenue from operations for the second quarter of the fiscal year 2022 (QY FY22) to INR 461 crores, as compared to INR 382 crores in the same quarter of the previous fiscal year. The Indian steel processing company said that the increased revenue in the […]
German conglomerate thyssenkrupp (tk) said that it has sold the Acciai Speciali Terni (AST) stainless steel mill in Italy to Italian company Arvedi for an undisclosed price. The deal, which includes the associated sales organization in Italy, Germany, and Turkey, is part of thyssenkrupp’s realignment. Subject to approval by thyssenkrupp’s supervisory board and merger control […]