Company News

Otto Energy announced the appointment of Matthew Allen as managing director, effective 24 June 2015. Matthew will also continue as CEO. Photo courtesy of Citadel Magnus Allen joined Otto in November 2009 as CFO and was appointed CEO in February 2014.

International oilfield services company Expro secured new contracts from Tullow Oil, Africa’s independent oil company.

ArcelorMittal WireSolutions signed three contracts to supply approximately 21,500t of steel fibres to the Doha Metro in Qatar.

Ceona, SURF contractor with deepwater subsea construction capabilities, announced that the company’s executive vice president commercial and business development, Mark Preece, has been appointed as the CEO. Photo courtesy of Ceona Preece takes over from current CEO, Steve Preston, who after 40 years in the industry has decided to retire from operational management and step down.

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.

In 2014, several heat exchangers at an Egyptian Propane Dehydrogenation plant failed unexpectedly and caused a production shutdown.

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.