SSAB’s official statement said that they are establishing new blast furnaces in Oxelösund, Sweden, with an electric arc furnace and associated raw material handling. The aim is for the new production system to be up and running toward the end of 2026. The Oxelösund mill is said to be the first in the green transition […]
Workers suspended at Liberty Steel in 2024 will be returning to work by next week, according to Independent Steel Workers Union leader Penny Wight. Liberty Steel furloughed more than 500 employees from its Peoria-area steel mill and wire mill in December, citing economic challenges in the steel market. The company stated that the furloughs were necessary. […]
The European Union has introduced two key directives to strengthen corporate sustainability: the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD). The CSRD mandates comprehensive environmental, social, and governance (ESG) reporting, enhancing transparency and comparability for investors and stakeholders. Meanwhile, the CSDDD requires companies to identify, prevent, and mitigate human […]
Kimberly-Clark (K-C), a global giant behind household names like Kleenex and Scott, is making significant strides in its sustainability journey with a new partnership and virtual solar power purchase agreements (vPPAs) across Italy and Spain. This initiative promises to significantly reduce the company’s carbon footprint and drive the production of more environmentally friendly products. The […]
Nordstrom Inc., the American luxury department store, reported total revenues of $15.02 billion for the fiscal year 2024 (FY24), ending 1 February 2025, reflecting an increase from $14.69 billion in the previous year. Net sales rose to $14.56 billion, while net earnings surged to $294 million. The selling, general, and administrative (SG&A) expenses of the […]
Nomura Research has highlighted the potential benefits of imposing safeguard duties [1] on Indian steel imports. According to the brokerage, such measures could significantly boost domestic steel prices and improve the margins of steel manufacturers. The domestic steel industry has been advocating for a 25% duty on imports to protect against the influx of cheap […]
ArcelorMittal Nippon Steel (AM/NS), a Luxembourg-based multinational steel manufacturing company, has announced plans to invest Rs 1.47 lakh crore [1] in a new steel plant in Andhra Pradesh. This significant investment is set to be developed in two phases, with the first phase involving an expenditure of Rs 61,780 crore to achieve a production capacity of […]
