Company News

A.D.Tubi Inossidabili SpA will expand into North America, Mexico, and the South and Central American markets in partnership with Kipp International Steel Sales.

Valero Energy Corp. will acquire Chevron's Pembroke refinery in Wales, U.K., in addition to extensive marketing and logistics assets throughout the U.K. and Ireland.

The Vasa Museum and Sandvik are taking on a critical project to replace 5000 wrought iron bolts on the Swedish heritage vessel. A national treasure, Vasa capsized and sank in 1628 as it prepared for its maiden voyage; it was raised from the bottom of the harbour in 1961 and carefully restored.

Japanese and Korean steel firms have entered into an agreement to acquire a 15% stake in Companhia Brasileira de Metalurgia e Mineração (CBMM) for USD 1.9 billion. JFE Steel Corporation, Nippon Steel Corporation, Sojitz Corporation, Japan Oil and Gas, and Metals National Corporation will acquire a 10%

Oil services group Aker Solutions has named Per Harald Kongelf chief operating officer and added three members to its executive management team.

Ferrous Resources Limited intends to form a strategic partnership with an investor by late April or early May of 2011 to support the development of a USD 4.2 billion iron ore project in Brazil. Talks are currently underway with five interested partners, which may include traders, mining companies

Bombardier has received an order from NetJets Inc. to construct 50 Global jets with options for an additional 70 aircraft. This marks the company’s largest business aircraft sale in history with the transaction valued at approximately USD 2.8 billion, based on list prices.

TISCO achieved a significant increase in duplex steel production for 2010, producing a total development amount of 1000tns. This is an increase by 66% compared to 2009, fully replacing imported products.

Tectubi Raccordi, a subsidiary of Allied Group, has acquired a majority share in Gieminox S.R.L., a consolidated manufacturer of longitudinal welded pipes, fittings and auxiliary components in stainless steel, nickel and nickel alloys, duplex and superduplex.