Company News

Universal Stainless & Alloy Products Inc has appointed Dr. Vijay N Madi as Chief Technology Officer effective 2 May 2011. In his new position, Madi will greatly strengthen the company's technical support to customers; he will also provide the metallurgical expertise critical for the company’s process improvement effort and product expansion strategy. Madi will oversee the metallurgical process development at Universal Stainless and supervise all Company laboratory qualification and capability testing and analysis.

REpower Systems AG has signed two contracts for Canadian wind projects. As per the contract, the company will cover the delivery, installation and maintenance of 55 REpower MM92 CCV turbines specifically designed for cold climates. 40 turbines will go to the Saint-Robert-Bellarmin wind farm located between the cities of Lac-Mégantic and Saint-Georges-de-Beauce in Quebec. The remaining 15 turbines are to be installed at the Ganaraska and Whispering Woods wind farms in Oshawa, Ontario.

Allegheny Technologies Incorporated has appointed Richard J. Harshman as the new Chairman, President and Chief Executive Officer of ATI. He will succeed L. Patrick Hassey who has retired. Harshman has also been elected to serve as a member of ATI's Board of Directors. Harshman has been with the company for 33 years; he became CFO of ATI in 2000.   

US-based Constellation and Exelon have announced merger plans.

MATHESON has successfully acquired the assets and business of Quimby Welding Supplies, Inc., based in Portland, Oregon. Quimby is the biggest independent welding supply business in the greater Portland, Oregon and southern Washington areas. With this purchase, MATHESON will add four new locations to its network; the acquired business will become a part of the MATHESON Packaged Division.

Chevron has appointed Paul V. Bennett as vice president and treasurer, effective 1 May 2011. Having served in several senior corporate and operating financial positions, including oversight of Chevron's credit and receivables operations, Bennett is highly qualified to guide financing strategies for the company's overall corporate capital structure as well as their major development projects. He is broadly experienced in treasury and risk management and in his current position, Bennett played an instrumental role in helping to streamline the Downstream and Chemicals business, transforming it into a more profitable, lower-cost organization.

Cleeve Technology, supplier of wire & cable and interconnect products to electronics markets, has expanded its operations into Western Canada. This further enhances the company’s servicing abilities for its clients in the Mountain and Pacific Time Zones. Established 12 years ago, Cleeve operates worldwide with offices in the United Kingdom, The Netherlands, Germany and Australia.

ESAB Welding & Cutting Products will construct and operate a new manufacturing plant in South Carolina for its line of MIG and sub-arc welding wires. As a result of this decision, the company will shut down its plant in Ohio. The new 25,000sq/ft plant will be built in Union County, S.C.; the move will allow the company to improve its manufacturing process. Manufacturing will continue at their current plant in Ashtabula, Ohio until the new operation, equipped with new assembly lines and new production equipment, is ready.

Puma Energy will acquire ExxonMobil's fuels marketing and supply businesses in Belize, El Salvador, Guatemala, Honduras, Nicaragua and Panama. Formed in 1997 and headquartered in Switzerland, Puma Energy has quickly grown to become one of the world's largest independent downstream companies. The company is a subsidiary of Trafigura Beheer BV and now operates in 23 countries worldwide.

International Finance Corporation, a branch of World Bank, will invest USD 30 million in Kalyani Gerdau Steels to help revive the company’s operations that were shut down for more than 18 months. A JV between the Brazilian steel firm Gerdau and India’s Kalyani group, the company discontinued operations upon realizing that they were unviable due to certain technical issues.