Company News

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.

Metinvest Group’s Ilyich Iron and Steel Works of Mariupol has begun the next stage of the reconstruction of its sinter plant.

PEDEVCO Corp. d/b/a Pacific Energy Development entered into an agreement and plan of reorganisation (merger agreement) with Dome Energy to acquire all the US oil and gas assets of Dome. This transformational business combination with Dome Energy is expected to pay off existing senior debt of the company and lower cost of capital with a 3.75% bank credit facility.

Avantha Group Company CG, along with other consortium partners Cofely Fabricom and lemants, has been awarded the contract for the turnkey supply and installation of HV offshore substation for the 400MW Veja Mate Offshore Project.

EnBW Energie Baden-Württemberg took another important step towards the expansion of renewable energies with the acquisition of all shares in PROKON Regenerative Energien.

AK Steel received a Deal Maker of the Year award from the Association for Corporate Growth (ACG) for the company’s USD 690M acquisition of Severstal Dearborn.

Velan announced the retirement of A.K. Velan as the executive chairperson of the Board of Directors after 65 years of service to the company.

DNV GL has awarded Siemens Wind Power with offshore prototype certification for its new 7MW offshore wind turbine SWT-7.0-154, which will now undergo field-testing in Østerild, Denmark. The prototype certificate confirms the compliance of the wind turbine design with the mandatory prototype requirements of the IEC 61400-22 standard and the Danish Executive Order (DEO).