Company News

It is with deep regret and heartfelt sadness that Raccortubi announces the passing away of PierGiorgio Pentericci, President of Raccortubi Group and father of Vice President Luca Pentericci. Over the course of his sixty years at Raccortubi, PierGiorgio Pentericci took the company on its journey from distributor of iron fittings to the stockist and manufacturer of piping materials that it is today.

The Inter-American Investment Corporation (IIC) approved a loan of up to USD 30M to Acería del Ecuador (Adelca) for the construction, development and operation of a new steel production plant located in the San Francisco de Milagro canton in the Guayas province, some 40km from Guayaquil.

Severstal-SMC-Vsevolozhsk, a joint venture between the Russian Steel division of Severstal and Mitsui was presented to customers.

Eamon Geary, LEED AP - ID+C, has joined the Steel Market Development Institute (SMDI), a business unit of the American Iron and Steel Institute (AISI), as manager of Construction Sustainability.

Wärtsilä Corporation finalised its acquisition of the Germany-based L-3 Marine Systems International (MSI), and control of the company will be transferred to Wärtsilä with effect from 1 June 2015. In December 2014, Wärtsilä announced an agreement to acquire MSI from NYSE-listed L-3 Communications Holdings using financing from existing cash resources and credit facilities.

Outotec has won an order from Bafgh Mineral Complex Iron and Steel Industry Company (B-MISCO) for the design and delivery of technology and services for a new iron ore pelletizing plant in Bafgh, Yazd Province, Iran.

Russian steel manufacturer NLMK Group has begun the supply of plates rolled from low-alloyed abrasion-resistant Quard© steel to Russian mining companies including the Urals Mining and Metallurgical Company. Quard plates are supplied to companies that mine ore including iron, polymetallic and copper; and coal that produce varying degrees of wear-and-tear on equipment.

German manufacturer of drilling rigs and oilfield equipment, Bentec, announced three major multi-million dollar contract wins.

PAO Severstal announced Vadim Larin, previously COO of Severstal Management, as CEO of Severstal Management in line with company’s plans announced earlier on 27 April 2015.

Sellafield, the company responsible for delivering decommissioning of the UK’s nuclear legacy announced that Darchem Engineering has been awarded a contract potentially valued at up to GBP 50M, for the provision of high-integrity steel storage containers for nuclear waste.