Company News

Italfond S.p.A., a mill located in Bagnolo Mella (Northern Italy) specialised in the production of stainless steel and Nickel-based alloys, was certified as a Material Organization manufacturing ferrous and non-ferrous material - including approval and control of suppliers - in accordance with the applicable rules of the ASME Boiler and Pressure Vessel Code, Section III Division 1 and 3, which establishes the rules governing design, fabrication, and inspection of boilers & pressure vessels during manufacture and assembly. For further information, please visit the company website www.italfond.it or email Italfond S.p.A.

Australia's Pacific Hydro plans to invest almost USD 1.5B in Brazilian wind projects over the next five years, says the renewable-energy firm.

AusGroup Thailand, a subsidiary of the AusGroup Corporation, a leading Thailand-based construction and fabrication company, has won CUEL’s insulation contract for the INPEX Ichthys LNG project in Darwin, Australia.

JFE Steel Corporation will construct Indonesia’s first continuous galvanizing line (CGL) for automobiles at MM2100 Industrial Town, an industrial estate in the city of Bekasi just outside of Jakarta.

ArcelorMittal will be appointing Bill Scotting as chief executive of ArcelorMittal Mining, succeeding Peter Kukielski, the current chief executive since December 2008, who is leaving the company in August to take up a new opportunity.

Tata Steel has completed an upgrade of its corrosion-resistant coating line in South Wales to improve and expand the company’s range of high-value, high-formability automotive steels. The Zodiac plant is Tata Steel’s coil galvanising line at Llanwern.

Nickel alloy specialists Corrotherm International have expanded their global reach further with the recent opening of a new office in Perth, Australia. This is the fourth branch that has been set up by the company in the past twelve months.

E.ON SE acquired 24.5% of MPX’s equity from Eike Batista, owner and CEO of EBX. E.ON acquired 141,544,637 shares of MPX stock for a minimum price of EUR 3.921 per share, plus up to a further EUR 0.391 per share, depending upon the final settlement price of a planned capital increase and the share price performance of MPX in the six months following the closing of the transaction.

Brazilian petrochemical company Braskem will benefit by BRL 600M (USD 284M) this year, and up to BRL 900M in 2014 as a result of the government's decision to cut taxes on purchases of chemical raw materials, chief executive officer Carlos Fadigas said.

Grup Armangue, a Spanish consortium that manufactures steel frames for concrete reinforcement, is entering Ghana as a part of Foreign Direct Investment.

Mr John Komlan Gbenyedzi, CEO of Eco Technologies & Community Infrastructural (ETIC) Group, Ghana and Africa General Representative of GRUP ARMANGUE said that the group would be setting up a USD 10 million factory in Ghana for the manufacture of prefabricated steel for all manner of estate projects, including bridges.