Company News

TMK, producer of tubular products, acquired 100% interest in ChermetServis-Snabzhenie. The deal value totalled about EUR 38.3M.

Sandvik in Chomutov, Czech Republic, has been announced as the winner of the prestigious award Best Innovator of the year in the Czech Republic – recognition of the company's way of working with innovation.

IPP Group is pleased to announce the acquisition of the business and assets of Specialised Machining Services Limited (SMS) effective 16 February 2015. SMS, based in Deeside have for a number of years been a market leader in the field of precision machining, particularly in subsea applications.

Family run company, Abbey Forged Products based in Sheffield at the heart of the stainless steel industry in the UK, have enjoyed a very successful time in the last year.

A ceremonial launch of the main drive of Pellet Plant #3 at Mikhailovsky GOK, part of Metalloinvest, took place in the Kursk region.

ThyssenKrupp Steel Europe, the Fraunhofer Institute for Materials and Beam Technology IWS, and LIMO have initiated development work on a new laser technology that the partners will use to improve the properties of steel strip surfaces.

ABB, the power and automation technology group, won a contract worth more than USD 50M to supply the electrical system for commercial floating liquefied natural gas (FLNG) facilities to be owned by Malaysian oil and gas company PETRONAS.

Tata Steel reached a significant milestone in the transformation of its European steel portfolio with the launch of the hundredth new product in its revitalised new product development programme. Tata Steel revised its new product development activities in 2011 as part of its market differentiation strategy, which delivers innovative products and services to customers who are increasingly demanding advanced, high-tech steels.

The Board of Directors of General Steel Holding, a non-state-owned steel producer in China, has approved a strategic restructuring plan designed to accelerate the company's business transformation. The transformation includes implementing additional cost-cutting programs at Longmen Joint Venture, selling the company's stake in General Steel Special Steel Pipe Joint Venture Company (Pipe JV), and reconfiguring the company's steel manufacturing facilities and assets to facilitate expansion into logistics and Internet-of-Things businesses. During the fourth quarter of 2014, the company sold its stake in the Pipe JV.

JMC Steel Group, North America's independent steel pipe and tube manufacturer, announced the promotion of two executives: Jelani Rucker to vice president of marketing and business development and Jeff Shulman to vice president of logistics. Rucker has served as JMC's director of marketing and business development for over eight years.