News

As part of its Klöckner & Co 2020 strategy, Klöckner & Co has begun its planned entry into emerging markets by acquiring a 70% share of the Frefer Group, the third-largest independent steel and metal distributor in Brazil. This acquisition will allow the company to create its first foothold in the emerging markets of South America. The acquisition is taking place at a cost that is 6.5 times the projected average EBITDA 

Deep Sea Metro Ltd. has secured a contract with Petrobras for its second drillship, the Deepsea Metro II. The contract with Petrobras has a firm duration of 3 years and is valued at an estimated USD 531 million, including part of potential bonus and mobilization fee. Deepsea Metro II will be operating in ultra deep waters offshore Brazil by the end of Q4 2011.

SENER has been chosen to represent Spain in the prestigious 2011 European Business Awards sponsored by HSBC. SENER was one of 25 Country Representatives and will now compete for a coveted Ruban d’Honneur in the next round of the competition. The final category Award winners will be revealed in Barcelona on 22 November 2011. a

CEO of ThyssenKrupp, Heinrich Hiesinger, has announced that the company is splitting off its stainless division so that more of its sales fall to other divisions. As a result of the split, more than 35,000 workers will be let go. The main reason for splitting off the division comes as a result of overall debt, according to Hiesinger. The stainless steel division has been running at a loss over past few years with last year's turnover amounting to EUR 5.9 billion. 

Lincoln Electric has added Lincolnweld® LAC-690, a low alloy flux-cored wire, to its line of products. Designed for submerged arc welding, the Lincolnweld LAC-690 is suitable for applications that require high strength and low H4 diffusible hydrogen weld deposits. In addition, the wire is capable of producing high impact toughness at low temperatures as required by the offshore industry for applications like rack to chord joints.

R. Joseph Stratman, executive vice president of Nucor Corp., Charlotte, N.C., USA, has been appointed president of the Association for Iron & Steel Technology (AIST) for 2011–2012. He will succeed former president William P. Breedlove, executive vice president, marketing and business development, Harsco Metals and Minerals, Seven Fields, Pa., USA. Stratman has been an Executive Vice President of Nucor since September 2007 

Lincoln Electric has introduced the LN-25 Pipe and LN-25 Ironworker® to its line of compact construction-ready LN-25 wire feeders. Easy to operate, reliable, and easy to service, the LN-25 PRO wire feeders are ideal for ironworking, fabrication, shipyards and rental companies in addition to pipeline and construction industries. The two new additions to the line, the LN-25 Pipe and the LN-25 Ironworker, were created to meet the individual needs of operators in the pipeline and ironworking industries.

A USD 1.4 billion upgrade of a 200MW Ameren coal-fired plant in Meredosia, Illinois, will repower and modify an existing power plant, building a brand-new boiler to create oxycombustion and piping steam through turbines. Approximately 1.3 tns/yr of CO2 will be captured and stored. Meredosia will be one of 10 DOE carbon-capturing demonstration plants

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.

Lincoln Electric has added the new Pipeliner® 80Ni1 MIG (GMAW) wire to its line of Pipeliner consumables. Created to meet the rigorous demands of the global pipe welding industry, it is designed for semi-automatic or automatic welding of root, hot, fill and cap passes up to API X80 grade pipe and root passes up to X100 grade pipe.