German Chancellor Olaf Scholz has indicated that the German government may consider acquiring a stake in Thyssenkrupp’s steel business, he said in an interview with a German newspaper. However, earlier this year, Thyssenkrupp sold a 20% stake in its steel division to Czech billionaire Daniel Kretinsky and is currently in discussions to sell an additional […]
On Monday, U.S. President-elect Donald Trump said that a set of tax incentives and tariffs would bring back the iconic American firm U.S. Steel. He also reiterated his opposition to Nippon Steel’s proposed $15 billion purchase of the company. “I am totally against the once great and powerful U.S. Steel being bought by a foreign […]
Thyssenkrupp’s steel division has announced plans to reduce its workforce by approximately 40% in the coming years, marking the latest significant restructuring effort by the German industrial giant. Workers have opposed the move strongly. Germany’s largest steelmaker, a division of Thyssenkrupp AG, is also facing competition from Asian companies that were not competitors earlier, with […]
Nippon Steel, who has been working on acquiring the U.S. steel, has been on halt due to the opposition faced. However the Nippon steel executive remains confident that the deal will officially be closed by the end of the year, despite President Joe Biden’s opposition. MSN news reported that if Biden stops the takeover even […]
Spanish steelmaker Celsa has finalized the sale of its mills in Britain and Norway to Se.ven GI, the Czech investment fund confirmed on Thursday, following an earlier report by news outlet El Confidencial. El Confidencial, citing industry sources, reported that the deal was valued at €600 million ($632.10 million), however the company hasn’t confirmed anything yet. […]
Thyssenkrupp, Germany’s largest steelmaker, has announced a €1 billion writedown of its steel division, warning of a structural decline in demand from European industries along with the cost of decarbonization said in a report by Financial Times. The latest write-down of Thyssenkrupp’s steel business comes down with hopes that Czech billionaire Daniel Kretinsky, who currently […]
Steel magnate Sanjeev Gupta is set to seek court approval to restructure the majority of his remaining UK operations. Sky News reported that Liberty Steel, Mr. Gupta’s privately-owned company, will introduce a restructuring plan for its UK Speciality Steel division (SSUK) on Monday, aimed at significantly reducing its debt. Begbies Traynor, considered the insolvency practitioner, has […]
The Industrial Transition Accelerator (ITA) has announced new partnerships with the governments of the UAE and Bahrain to expand its industrial decarbonization initiatives throughout the Middle East and North Africa (MENA) region, Zawya Reported. According to the report, This marks the ITA’s second focus region after the success of its Brazil program, launched in collaboration […]
ArcelorMittal, the world’s second-largest steel producer, could potentially more than double its annual production in Ukraine, increasing output by at least 3 million metric tons if stability returns to the conflict-impacted region. Chief Financial Officer Genuino Christino shared this outlook during a quarterly investor call on Thursday. However, he did not specify the exact conditions […]
In a recent report on Reuters, they stated that Nippon Steel, Japan hopes to close a deal of $15 billion deal to buy US Steel before the Republican Leader Donald Trump Takes over the White House again in January. A senior executive explains that the acquisition is a core for future growth. However, as per […]
There are 7 major factories producing iron ore in Oman now, contributing to the Sultanate’s GDP increased to more than 2% according to the statement by the Directorate General of Industry at the Ministry of Commerce, Industry and Investment Promotion (MoCIIP) The 2022 industrial survey data showed that the exports of these factories amounted to […]
The two companies, India’s JSW steels and South Korea’s POSCO- are to invest 650 billion rupees ($7.73 billion) in a plant in India in the coming years, partially to capitalize on rising steel demand in the world’s fastest-growing major economy. JSW Steel and POSCO have signed an agreement to set up an integrated steel plant […]
Major shareholder of Salzgitter, GP Günter Papenburg was considering a potential takeover of the German steelmaker with a partner., reported by Reuters. GP Günter Papenburg has notified the Company that it is considering, together with TSR Recycling GmbH & Co. KG (jointly the “Consortium”), to submit a voluntary public takeover bid to the shareholders of […]
Cleveland-cliffs Inc. (cliffs) has successfully acquired Stelco Holdings Inc., steelmaker in North America, providing technologically advanced and integrated products. This Acquisition provided Cliffs a new position in the global steel industry as the largest falt-rolled steel producer in North America. The acquisition is aimed at diversifying Cliffs’ end markets and expanding its geographical presence in […]
thyssenkrupp Steel and Volkswagen Group have joined forces to advance green steel production. thyssenkrupp Steel’s direct reduction plant, set to begin operations in 2027, will utilize hydrogen and green electricity, significantly lowering the carbon footprint compared to traditional steel manufacturing methods. Initially, the plant will use natural gas as a reducing agent, gradually transitioning to […]
Austrian steelmaker voestalpine, has announced its decision to sell its German subsidiary, Buderus Edelstahl, to an investment firm, Mutares. Buderus Edelstahl is considered the High Performance Metals Division of voestalpine that is concentrating its product portfolio on the technologically demanding high-performance materials segments. This decision was made to support the future growth of Buderus Edelstahl. […]
Blastr Green Steel has entered a memorandum of Understanding with Knauf Interfer for the annual supply of 100,000 tonnes of ultra-low CO₂ steel. This collaboration is aimed at increasing the supply of decarbonised steel in Europe. Blastr is developing a low-carbon steel value chain that cuts CO₂ emissions by over 90%, using hydrogen instead of coal […]
Tata Steel’s signing of a groundbreaking contract with Tenova, the global leader in metals technology-to design, supply, and install a state-of-the-art electric arc furnace and associated advanced steelmaking equipment for its Port Talbot site in Wales, UK, has been hailed as one of the defining moments of Tata Steel’s journey toward greener steel, aimed at […]
JFE Steel Corporation and JSW Steel Limited have announced an agreement to acquire thyssenkrupp Electrical Steel India Private Limited, a leading manufacturer and supplier of electrical steel sheets based in Nashik, Maharashtra, India. In February 2024, JFE Steel and JSW established a joint venture for the production of GOES. The acquisition through their joint venture named JSW JFE Electrical Steel […]
Stegra is partnering with John Laing and Aquatech to provide a sustainable water treatment plant to the world’s first large-scale green steel plant. Boden- In a significant decision towards the sustainable growth of the industry, Stegra has entered a corporate private-to-private partnership (PPP) with John Laing, a leading international investor in infrastructure assets, and Aquatech, a […]
Oman– Vitkovice Steel has agreed to purchase about 1 million tonnes per annum of low-carbon steel from Vulcan Green Steel, now under construction at Duqm SEZ. The Indian industrial powerhouse Jindal Steel Group is currently negotiating a purchase of the significant Czech mill Vitkovice Steel. This acquisition is expected to benefit Jindal’s Vulcan Green Steel project, which […]
