Company News

Shubhlaxmi Metals and Tubes Pvt. Ltd, a leading manufacturer and exporter of stainless steel seamless products, has announced that their company has been awarded with the certificate of “Export House” by the Indian Ministry of Commerce and Industry for outstanding performance in exporting Stainless Steel seamless and welded pipes, tubes and U-tubes globally.

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.

Dinggui Gao has been appointed President of Business Area Sandvik Construction and member of the company’s Group Executive Management. He has experience from leading positions in global industrial companies.

BOC has signed a long-term agreement to supply industrial gases to one of the biggest steelmakers in the UK, SSI Steel UK. The 15-year agreement is one of the largest gases contracts ever awarded in the UK and follows SSI’s purchase of the Teesside steelworks from TATA Steel in 2010.

Dual listed Besra has resumed normal operations at its Phuoc Son gold mine in central Vietnam following 5-day shutdown.

RWE, Germany's second-biggest utility, has put its oil and gas exploration unit up for sale in a move that could raise close to EUR 5B as a part of its drive to cut debt. RWE had previously said it only wanted to sell parts of the DEA unit that accounted for 23% of the group's operating profit in 2012.

CIRCOR International, a leading provider of valves and other highly engineered products for energy, oil & gas, power generation and aerospace markets, announced financial results for the first quarter ended March 31, 2013.