Shareholders of Japan’s biggest and third-ranked steelmakers on Tuesday approved the two companies’ merger, which will create the world’s second-largest steel firm. The tie-up between Nippon Steel and Sumitomo Metal Industries will create a steel giant second  will create a steel firm second only to world steel giant ArcelorMittal (Credit Photo @ All Voices)

Sep. 29, 2012 – Nippon Steel Corp. and Sumitomo Metal Industries Ltd. will merge on Oct. 1 to become Nippon Steel & Sumitomo Metal Corp., 42 years after the creation of Nippon Steel Corp., then the largest steelmaker in the world. The new company will have the world’s second largest crude steel output. But its size is still about half that of European giant ArcelorMittal, and competition with Chinese and South Korean rivals with close output figures has been intensifying.

The new steelmaker will face many hurdles.

At a press conference on Sept. 20, Sumitomo Metal Industries President Hiroshi Tomono, who will be the new company’s president and chief operating officer, said that the merged firm will “start under bad [business] circumstances. “Though our products are overwhelming in quality, the remaining problem is [production] costs,” he said.

Though our products are overwhelming in quality, the remaining problem is [production] costs

Sumitomo Metal Industries President Hiroshi Tomono

In April, there was an incident that symbolized changes in business circumstances for major Japanese steelmakers. For the first time, a foreign steelmaker joined Kyohokai, an industrial association comprising the main suppliers for Toyota Motor Corp., the largest client for the new steelmaker. That company was South Korea’s POSCO, which is the world’s fourth-largest steelmaker. One advantage of Kyohokai membership is that member companies can exchange information with Toyota executives in charge of procurement of steel products. Toyota and Nippon Steel have held the power to decide prices of steel products as the biggest firms in their respective industrial sectors. But the rise of POSCO, which can sell steel products at lower prices backed by the low value of the won, will be a big threat to Nippon Steel & Sumitomo Metal.

The rise of POSCO, which can sell steel products at lower prices backed by the low value of the won, will be a big threat to Nippon Steel & Sumitomo Metal

The largest advantage of Nippon Steel & Sumitomo Metal is its technological capability. Its international patent publications from 2006 to 2010 numbered 908, a figure much higher than POSCO’s 234 and ArcelorMittal’s 100. But Nippon Steel is feeling POSCO’s heat in production of products requiring high-level technologies such as magnetic steel sheets. The products are used in core parts of power generators and motors. As manufacturing this kind of product requires high-level technologies, Japanese steelmakers hold certain advantages. In April, Nippon Steel filed a damage lawsuit against POSCO demanding 100 billion yen in compensation, alleging that technologies to manufacture directional magnetic steel sheets, which are used in voltage inverters of electric power substations, were unlawfully leaked by its former employees. A Toyota executive said, “POSCO has made solid achievements, and so we are asking it to increase supply.

“POSCO has made solid achievements, and so we are asking it to increase supply.”

A Toyota executive

” Mitsubishi Heavy Industries Ltd., a major shipbuilder and heavy machinery manufacturer, has also begun using steel products made by Chinese and South Korean makers for its shipbuilding. In Asia, Chinese and South Korean makers have numerous plans to build huge steel plants.

In Asia, Chinese and South Korean makers have numerous plans to build huge steel plants.

In Indonesia, POSCO plans to build one such plant to be completed in 2013. In Guangdong Province, China, the country’s Baosteel Group Corp. began in May to construct a huge steel plant with an annual output capacity of 10 million tons. Among Japanese steelmakers, JFE Steel Corp. plans to start production in Vietnam in a joint venture with a Taiwan company in 2016. In 2011, global crude steel output was 1.5 billion tons. Industry sources predict that annual total output capacity in Asia will increase by nearly 100 million tons in the coming years. The figure is equivalent to the total of major Japanese steelmakers’ domestic output in 2011. However, demand for steel products will likely fall, as impacts of the European financial crises are spreading to China and other emerging economies. If steel products fall into oversupply, it is feared that prices will plummet and steelmakers will enter survival races. Thus Nippon Steel & Sumitomo Metal will need to increase production in other countries where production costs are low. But the new company has many steel plants in Japan and has not presented a clear business policy regarding this point. A Nippon Steel executive said, “About doing businesses overseas, we’ll discuss it from now on.” Steel manufacturing plants are closely connected with local economies, and closing them will directly affect local governments’ tax revenues and employment conditions. It is possible that business realignment plans will not progress smoothly due to opposition from such local communities.

Source :   Daily Yomiuri

Recent Posts:

Hemant Luthra, Chairman, Mahindra Sanyo Special Steel

Mumbai, Sept. 6:  Mahindra Ugine Steel Company Ltd (MUSCO) has formed a new joint venture company, Mahindra Sanyo Special Steel Private Ltd, following the financial closure of its joint venture. The company has completed the financial closure of the 51:49 joint venture with Sanyo Special Steel Co Ltd and Mitsui & Co Ltd.

Profitable venture

“This new venture will help the company emerge as one of the most profitable, high quality speciality steel producers in the coming years,” said Anand Mahindra, Chairman and Managing Director, Mahindra Group. MUSCO had approved the slump sale of its steel business into its 100 per cent owned subsidiary Navyug Special Steel Private Ltd (Navyug Steel) in November last year. Sanyo has infused about Rs 129 crore for its 29 per cent stake, while Mitsui paid about Rs 89 crore for its 20 per cent stake in Navyug Steel, the joint venture company. MUSCO holds the balance 51 per cent of equity in the joint venture. With financial, technical and operational inputs from Sanyo Special Steel and Mitsui, the joint venture expects to enhance its current production from the existing level of 120,000 tonnes a year.

Value chain

“It gives us the opportunity to move up the value chain while addressing the growing needs of the Indian market for speciality steels ” 

 Hemant Luthra, Chairman, Mahindra Sanyo Special Steel.

“Over the last 18 months working with Mitsui and Sanyo, we have developed a common vision of the future of our joint venture that leverages the strengths of all three partners. It gives us the opportunity to move up the value chain while addressing the growing needs of the Indian market for speciality steels,” said Hemant Luthra, Chairman, Mahindra Sanyo Special Steel.

Recent Posts:

CONTACT: Dwight Weber, Director of Communications (503) 946-4855

Recent Posts:

MOSCOW, November 27 (RIA Novosti) – State-controlled hi-tech corporation Rostekhnologii (Russian Technologies) is selling its 45.42 percent stake in the world’s largest titanium producer VSMPO-Avisma to a joint venture of VSMPO managers and Gazprombank for $965-970 million, VSMPO-Avisma’s CEO Mikhail Voevodin said on Tuesday. The stock price of VSMPO-Avisma, which supplies products to aerospace giants Boeing and Airbus, was set at $187 per share compared with the average-weighted price of $161 per share in the Moscow Stock Exchange in the past three months. “We are now submitting documents to the Federal Anti-Monopoly Service and will close the deal a week after approval,” Voevodin said. VSMPO-Avisma’s stock jumped almost 4 percent on the news to 5,510 rubles ($178) per share on the Moscow Stock Exchange. After the deal is closed, Rostekhnologii will have 25 percent plus one share in the titanium producer, the joint venture between VSMPO managers and Gazprom-affiliated bank will possess 50 percent plus one share while 24.98 percent of shares will stay in free float, including 13.2 percent held by Gazprombank. The deal will be mostly financed with a loan from Sberbank and the remainder will be provided by a consortium of banks, Voevodin said. “About $492-495 million will be financed through Sberbank and the remainder through a consortium of banks,” he said. Gazprombank, one of Russia’s top five banks, said in a statement its participation in the deal was explained by the titanium producer’s growth prospects. “The move to join the shareholders of the titanium corporation is prompted by calculations showing very good prospects for the growth of its capitalization. Partnership with the VSMPO-Avisma top managers in this project ensures guarantees of very high motivation of the corporation’s management in the implementation of the tasks for its development,” Gazprombank said. “VSMPO-Avisma’s key importance as the supplier for such sectors as aircraft-building, energy, the chemical and defense industries seals a unique market niche for this corporation. And the company’s huge export potential makes investment in its capital very attractive.”

Source : Ria Novesti

Recent Posts:

Le protocole de cession, signé le 31 octobre 2012 entre Manoir Industries et Yantai Taihai, restait soumis à l’autorisation du Ministère de l’Économie et des Finances du fait des activités stratégiques cédées (liées à la défense, au nucléaire et ou à des technologies sensibles). Manoir Industries se félicite que la solution industrielle pérenne présentée ait pu recueillir le soutien des autorités françaises. Les deux partenaires communiqueront dès que possible la date de « closing » prévue pour cette transaction. « La longue collaboration avec le groupe Yantai Taihai a permis à Manoir Industries d’atteindre une position globale de premier plan sur les marchés de la pétrochimie. Les divisions acquises par Yantai Taihai vont pouvoir accélérer leur développement, avec une approche à long terme et de nouvelles opportunités de marché. La division “Aerospace” poursuivra de façon indépendante la forte croissance qu’elle connaît grâce à son expertise technique, et aux investissements réalisés ces dernières années » a expliqué M. Philippe Royer, PDG de Manoir industries.

« La longue collaboration avec le groupe Yantai Taihai a permis à Manoir Industries d’atteindre une position globale de premier plan sur les marchés de la pétrochimie. Les divisions acquises par Yantai Taihai vont pouvoir accélérer leur développement, avec une approche à long terme et de nouvelles opportunités de marché. La division “Aerospace” poursuivra de façon indépendante la forte croissance qu’elle connaît grâce à son expertise technique, et aux investissements réalisés ces dernières années »

Philippe Royer, PDG de Manoir industries.

Les deux divisions Petrochem & Nuclear et Spécialités emploient 1.700 personnes sur 8 sites industriels dont 5 en France (Pitres, Outreau, Saint-Brieuc, Bouzonville, Custines), et réalisent un chiffre d’affaires de 220 millions d’Euros. Le groupe Taihai prévoit d’investir de manière significative dans chacun des sites français dans le cadre d’un programme de 60 millions d’Euros de 2013 à 2016, accompagné d’un doublement de l’effort de R&D, et de l’embauche de 30 à 40 collaborateurs en France. Manoir Industries conserve son activité Manoir Aerospace, qu’il entend continuer de développer.

Manoir Industries, groupe international de la transformation des métaux, développe et exploite des alliages et des procédés pour la fabrication de pièces métalliques à haute performance, moulées et forgées pour les marchés de l’aéronautique, la pétrochimie, du nucléaire, du ferroviaire, de l’extraction du pétrole, des travaux publics et de l’énergie. Une solide réputation d’expertise technique lui a permis de se construire une notoriété industrielle au service de ses clients.

Yantai Taihai Group, acteur privé spécialisé dans la transformation des métaux, leader en Chine pour le marché du nucléaire civil, est le partenaire de Manoir Industries depuis plus de quinze ans.

www.manoir-industries.com

Recent Posts:

Dallas billionaire Harold Simmons controlled about 45 percent of Titanium Metals Corp. shares. (Credit Photo @ Dallas Business Journal)

Titanium Metals Corp.’s $2.9 billion acquisition by Precision Castparts Corp. (PCP) was engineered by billionaire Harold Simmons, Titanium Metals’ controlling shareholder, to get around an earlier settlement of claims about Simmons’s company-related dealings, a pension fund said in a lawsuit. Simmons and other Titanium Metals executives didn’t solicit other bids for the maker of titanium used in the aerospace industry and set up the buyout by Precision Castparts, maker of jet-engine parts, to “avoid certain obligations that members of the company’s board are obligated to undertake pursuant to the settlement,” lawyers for the Sunshine Wire & Cable Defined Pension Benefit Plan said in a Delaware Chancery Court suit. Under the offer, stockholders of Dallas-based Titanium Metals will get $16.50 a share, a 44 percent premium, according to the company’s Nov. 9 statement about the deal. Entities controlled by Simmons have agreed to sell their 45 percent stake in the company, known as Timet, officials of Portland, Oregon- based Precision Castparts said. The deal, Precision Castparts’ largest since at least 1995, extends an acquisition spree under Chief Executive Officer Mark Donegan, who has overseen more than two dozen purchases in the past decade, data compiled by Bloomberg show. Planemakers Boeing Co. (BA) and Airbus SAS have urged suppliers to consolidate to help support record increases in jet output.

Self-Dealing

John St. Wrba, a Titanium Metals spokesman, didn’t immediately return a call for comment on the suit. Dwight Weber, a Precision Castparts spokesman, also didn’t immediately return a call for comment. A Louisiana pension fund sued Simmons and other Timet executives in Delaware last year accusing them of engaging in a half-dozen self-dealing transactions, including below-market- rate loans made by the company to firms controlled by the Texas billionaire and cost-sharing arrangements. Timet officials agreed last month to settle shareholder derivative claims against Simmons and the rest of the company’s board by agreeing to toughen the company’s oversight policies regarding so-called “related-party transactions,” according to an Oct. 10 court filing. A committee of independent directors also will review challenged transactions from the past and issue a report on them by Jan. 31 that will be published in the company’s proxy statement, according to the filing.

Final Hearing

Delaware Chancery Court Judge Leo Strine is slated to have a final approval hearing on the settlement of the derivative suit filed by the Louisiana pension fund on Jan. 9 in Wilmington. Lawyers for the Sunshine Wire pension fund contend that Simmons and other Timet executives pushed to sell the company to Precision Castparts, one of the company’s largest customers, to avoid having to comply with the settlement’s requirements, according to the Nov. 13 suit. “The proposed acquisition is thus, a sham and/or fraudulent transaction, a primary, if not sole purpose of which is to avoid the obligations of the settlement,” the lawyers said. Lawyers for the Sunshine Wire pension fund noted the settlement papers for the earlier case didn’t mention a potential buyout and the suit over Precision Castparts’ acquisition isn’t covered by the accord.

Business Stakes

Simmons, 81, didn’t immediately return a call today for comment on the suit over the Precision Castparts buyout. His Contran Corp. holding company has stakes in businesses that include Keystone Consolidated Industries Inc. (KYCN), a maker of wire products, and Valhi Inc. (VHI), which manufactures titanium goods. Simmons has long been active in Texas politics and made forays into national elections as well. He gave $2.3 million to the Restore Our Future super-PAC that backed Republican presidential nominee Mitt Romney, and in 2004, he donated $4 million to Swift Boat Veterans for Truth, a group that questioned Democratic nominee Senator John Kerry’s Vietnam War service. The case that generated the earlier settlement is Louisiana Municipal Police Retirement System v. Harold Simmons, 7059, Delaware Chancery Court (Wilmington). The new case is Ira J. Gaines and Sunshine Wire & Cable Defined Pension Benefit Plan Dates 1/192 v. Titanium Metals Corp. (TIE), 8029, Delaware Chancery Court (Wilmington).

Source : Bloomberg

Recent Posts:

Mergers: Commission clears acquisition of US titanium producer Timet by US component manufacturer PCC

The European Commission has cleared under the EU Merger Regulation the proposed acquisition of the US titanium producer Timet by the US component manufacturer Precision Castparts Corporation (PCC). Timet produces titanium parts that PCC uses for manufacturing components. The Commission concluded that the transaction would not raise competition concerns, in particular because the merged entity would be unable to raise prices for Timet’s inputs because of the existence of long term supply agreements (LTAs) and original equipment manufacturers (OEMs) bargaining power. The Commission examined the impact of the transaction on the upstream markets of titanium mill and melted products and the downstream markets of titanium casted and forged components. Titanium is a metal used in aerospace applications. The Commission’s investigation took into account the distinct features of the aerospace titanium industry. A small number of engine OEMs account for the majority of component purchases. OEMs regularly enter into LTAs with titanium producers and component manufacturers. LTAs grant OEMs price stability and guarantee suppliers a base of sales. Furthermore, downstream and upstream LTAs are interlinked in that they allow OEMs to direct supplies to component manufacturers of their choice. Finally, the number of upstream and downstream suppliers available to each OEM depends on which suppliers the OEMs have certified for specific products. The Commission’s investigation showed that any potential market power held by Timet upstream would be unlikely to result in price rises by the merged entity for the downstream players. Downstream competitors and OEMs will continue to benefit from the terms of existing LTAs. OEMs have bargaining power and can ultimately certify competitors of the merged entity for the supply of titanium inputs. Moreover, the Commission found that no other competition concerns were likely to arise. Timet’s competitors would continue to have a sufficient customer base, because PCC already sources most of its titanium needs internally or from Timet. Confidential information of PCC’s competitors and R&D projects to which Timet might have access would continue to be protected since PCC already has in place appropriate protection mechanisms which could be reinforced if required by OEMs. The Commission therefore concluded that the transaction would not significantly impede effective competition in the European Economic Area.

The transaction was notified to the Commission on 14 November 2012.

Companies and products

PCC is a manufacturer of complex metal components and products, including investment castings, forgings and fasteners. Its products are used mainly in the aerospace industry but also in other industrial and medical applications.

Timet is a global producer of a range of titanium-based melted and mill products which are used in the manufacture of titanium components. Its activities are largely concentrated in the aerospace sector.

Merger control rules and procedures

The Commission has the duty to assess mergers and acquisitions involving companies with a turnover above certain thresholds (see Article 1 of the Merger Regulation) and to prevent concentrations that would significantly impede effective competition in the EEA or any substantial part of it.

The vast majority of notified mergers do not pose competition problems and are cleared after a routine review. From the moment a transaction is notified, the Commission generally has a total of 25 working days to decide whether to grant approval (Phase I) or to start an in-depth investigation (Phase II).

More information on the case is available at:

http://ec.europa.eu/competition/elojade/isef/case_details.cfm?proc_code=2_M_6765

Recent Posts:

A factory belonging to Dalian-based Dongbei Steel Group. (Credit Photo @ Xinhua)

09:01, February 07, 2013  -China’s steel industry is likely to lead the M&A campaign launched by the Ministry of Industry and Information Technology and joined by other 11 ministerial-level departments, sources said. On Jan 22, the Ministry of Industry and the National Development and Reform Commission, along with other ministries, jointly issued guidelines to promote M&A deals among major industries such as auto, steel, cement, shipbuilding and healthcare. According to a report on the Guangzhou-based 21st Century Business Herald on Tuesday, the steel industry may take the lead in the initiative. The steel sector stocks index increased 1.59 percent on Monday, in one of the rare trading days when the index outperformed the broad market. The Ministry of Industry set a restructuring target stating that by 2015, China’s top 10 steel makers should have an aggregated capacity of 600 million tons, with each company able to produce at least 60 million tons a year. Hebei Iron and Steel Group Co Ltd, China’s largest steel maker by capacity, can only produce 45 million tons of steel per year. According to the guidelines, by 2015, China’s top 10 steel makers should produce about 60 percent of the nation’s steel products, while three to five steel groups will be formed with key competitiveness and international influence responsibilities. The guidelines also encourage steel firms to merge domestic mining resources and coking companies, as well as participate in the restructuring of scrap steel processing companies that have met environmental protection standards.

Source : Wang Ying  (Chinadaily.com.cn)

Recent Posts:

Metallurgica Siderforge s.r.l. has acquired majority stake in Mysore-based AMW-MGM Forgings Pvt Ltd for Rs 160 crore ($29.4 million). The transaction included a primary issue, as well as purchase of promoter’s stake in a secondary component of the deal. J Sagar Associates advised and assisted Metallurgica Siderforge s.r.l. in this transaction while AMW, the majority shareholder, was represented by AZB & Partners. AMW-MGM Forgings was founded in 2008 through the amalgamation of MGM Forgings Pvt Ltd and AMW Ltd. MGM Forgings had been in the business for around three decades while AMW was part of the forging business unit of Asia MotorWorks (AMW). AMW is a heavy commercial vehicle manufacturer and the company was set up by Anirudh Bhuwalka, nephew of Essar Group’s Shashi Ruia. AMW-MGM’s forging products are used by several industries such as automotive, nuclear power, mining and defence. Metallurgica Siderforge also specialises in forgings and its product portfolio includes rolled rings, open and closed die forgings, in-carbon, alloy and superalloy, stainless, duplex and superduplex.

Recent Posts:

SKF St. Vallier sur Rhône (France) Facility ‘ Credit Photo @ Le DL/Stéphane MARC – Le Daupiné)

2013 Mar 14 -  SKF has signed an agreement to divest its metallic rods business to US-based Precision Castparts Corp. (PCC) for around EUR 40 million on a cash and debt free basis. This includes the sale of the operations at the SKF sites in St. Vallier sur Rhône, France and Monroe, Washington in the USA. During 2012, sales from these two sites were around EUR 46 million. The closing is expected in Q2, 2013.  “Our strategy in the aerospace segment is to strengthen our leadership in our core competencies within bearings and seals and to further develop our composite technology. The divestment of our metallic rods portfolio to Precision Castparts Corp. supports this strategy. Their focus on complex metal components for the aerospace segment makes this a good fit,” says Stephane Le-Mounier, Director SKF Aerospace.   The sale affects around 230 employees in France and around 25 in the US.

Recent Posts:

L’intervista con il fondatore dell’azienda modenese Franco Testi

Dopo mesi di incertezza, la vicenda di Acciaieria di Rubiera (1) sembra indirizzata verso un finale positivo. L’impresa emiliana, infatti, ha ricevuto un’offerta di acquisto irrevocabile da parte di Ring Mill (2), una forgia da anni cliente della stessa Acciaieria. Siderweb, questa la fonte della notizia inviataci da www.siderweb.com, il principale quotidiano online italiano per il settore siderurgico, ha intervistato sul tema Franco Testi, presidente e co-fondatore di Acciaieria di Rubiera.

Signor Testi ci può aggiornare sulla situazione di Acciaieria di Rubiera?

«Certamente. Da quando abbiamo depositato domanda di concordato in bianco il 19 maggio scorso, ci siamo dedicati con dedizione assoluta a trovare una strada che potesse garantire ai dipendenti la continuità del loro impiego. Non ricordo nemmeno tutte le riunioni che ho avviato per cercare una soluzione. Almeno dieci interlocutori sono stati degni di interesse e con cinque di questi abbiamo avviato concrete trattative. Alla fine,
proprio nella serata di lunedì 7 ottobre è arrivata l’offerta di acquisto irrevocabile da parte di uno dei nostri clienti storici: Ring Mill».

Ci può dire qualcosa di più ?

«La cosa è molto fresca e inoltre non sono un tecnico in questa intricata materia concordataria. Posso dirvi che si passerà attraverso un periodo di affitto d’azienda dopo di che ci sarà la cessione. I debiti privilegiati in prededuzione saranno pagati al 100%, mentre la percentuale di soddisfazione per i fornitori chirografari sarà davvero “d’altri tempi”, oltre il 60%!»

Qual è il suo stato d’animo?

«Sono da un lato tristissimo perché l’Acciaieria è una mia creatura a cui ho dedicato tanta parte della mia vita: uscirne ora a 84 anni è davvero pesante. D’altro canto, però, sono contento perché ora l’azienda ha un futuro e quindi continuerà ad esistere. Il progetto industriale della famiglia Galperti (che stimo davvero moltissimo) è infatti di primario valore a livello europeo. La qualità dell’acciaio Rubiera (che può produrre lingotti tradizionali fino a 130 tonnellate e lingotti rifusi fino a 100 tonnellate) si unisce a una forgia che da sempre ha investito in qualità: non può che andare bene!»

Vuole ringraziare qualcuno?
«Prima di tutto i dipendenti, che hanno portato tanta pazienza e si sono fidati delle nostre
rassicurazioni sulla continuità del loro posto di lavoro: in 6 mesi di inattività abbiamo
“perso” solo l’1% del personale, un record assoluto! E grazie anche ai fornitori che ci hanno
continuato a servire in questo periodo, alle parti sociali (sindacati e assessorato regionale
alle politiche economiche) e ai nostri consulenti, e a tutti coloro che ci hanno seguito in
questa complessa situazione».
R.S.

1) L’Acciaieria di Rubiera
L’Acciaieria di Rubiera inizia la propria attività nel 1965 in una zona dove le attività industriali sono sostanzialmente quelle dell’industria manifatturiera e ceramica e in un periodo in cui il consumo di acciaio da costruzione per l’edilizia aveva rilevanti tassi di crescita. Inizialmente la produzione era costituita principalmente da lingotti per laminazione a vergella e tondo per calcestruzzo armato con successiva espansione. Negli anni ’70 l’azienda si orienta verso prodotti di qualità, quali acciai basso-medi, legati in lingotti di varie dimensioni destinati alla produzione di tubi senza saldatura e alla produzione di fucinati. L’azienda arriva a produrre acciai di alta qualità con impurità e contenuti di gas molto bassi. Dagli anni ’80 in poi l’Acciaieria di Rubiera affronta una fase di ristrutturazione al fine di produrre acciai speciali, come gli acciai fini al carbonio e legati di elevata purezza. Ulteriore espansione produttiva all’inizio degli anni ’90. L’Acciaieria di Rubiera è stato il primo esempio tra le acciaierie in Italia, agli inizi degli anni ’90, di applicazione industriale di una particolare tecnologia, il forno ad arco in corrente continua, che ha migliorato la qualità del prodotto e ha ridotto i consumi specifici di energia elettrica, di elettrodi e di refrattari rispetto a quello a corrente alternata che è stato disattivato nel 1994. Questo forno dalle capacità nominali di 70 ton, ha consentito un netto incremento qualitativo e quantitativo.
Nel maggio scorso l’azienda ha presentato domanda di concordato preventivo con riserva al Tribunale di Modena. Crisi e cassa integrazione per 112 dei 120 dipendenti. Da allora fino ad un massimo di 6 mesi di tempo per presentare al Tribunale i documenti necessari per l’avvio della procedura di concordato preventivo. Evitato rischio fallimento legato ad eventuali richieste dei creditori, era partita la ricerca di investitori con l’appoggio del Comune di Casalgrande, delle Province e della Regione. Ricerca dunque andata a buon fine

2) Ring Mill
Ringmill, fondata 35 anni fa,  è presente i tutti qui settori che richiedono l’affidabilità di prodotti di qualità.  Attraverso gli anni abbiamo acquisito il Know-how necessario per lavorare con un ampia varietà di metalli e siamo in grado di produrre pezzi utilizzando metalli semplici come l’acciaio al carbonio o leghe sofisticate utilizzate nell’industria off-shore, nelle applicazioni high-tech o nell’energia convenzionale e nucleare.
Ringmill è in grado di produrre pezzi stampati che possono variare tra i 200 kg e i 1500 kg, anelli laminati tra i 500 kg e i 18.000 kg e pezzi con forgiatura libera tra i 500 kg e i 60.000 kg. Inoltre possiamo produrre pezzi forati fino a una lunghezza di 17.500 mm.
Il suo campo d’azione: il pianeta (dal Brasile al Giappone, dall’Australia agli Stati Uniti, in Cina come in Russia oltre che naturalmente in tutta Europa….)
La sua dichiarata mission:
Consolidare la posizione dell’impresa come leader globale per la qualità e la tecnologia nella produzione di forgiati;
Mantenere nelle proprie relazioni i valori dell’onestà e sincerità;
Soddisfare le richieste dei clienti superando le loro aspettative di qualità e servizio;
Sostenere un processo produttivo che rispetta interamente le problematiche ambientali e di sicurezza.
I conti:
Ring Mill, capitale sociale 6,5 milioni. Dati a fine 2010, 2011, 2012
Attivo netto da 145 mln a 154 e 147
Fatturato 92. 109, 101
Personale 10,5 11,3 11,4
Utile 9,5 4,3 4,9
Dividendi 2 0,9 1

Recent Posts:

10, 2014– Allegheny Technologies Incorporated (NYSE:ATI) announced today that it has acquired Dynamic Flowform Corp. (“Dynamic Flowform”). Located in Billerica, MA, Dynamic Flowform uses a precision flowforming process to produce thin-walled components in net or near-net shapes across multiple alloy systems, including nickel-based alloys and superalloys, titanium and titanium alloys, zirconium alloys, and specialty and stainless alloys. Dynamic Flowform’s major markets are Aerospace and Defense, and Oil and Gas/Chemical Process Industry. “The acquisition of Dynamic Flowform is consistent with our strategy to create value by expanding our capabilities to produce specialty materials parts and components,” said Rich Harshman, ATI’s Chairman, President and Chief Executive Officer. “Dynamic Flowform is a technology leader in the manufacture of unique parts and components using the alloy systems that are core competencies of ATI. The innovative and entrepreneurial Fonte family established Dynamic Flowform and has successfully operated and grown the business for nearly 40 years. We are pleased and proud to welcome Matt and Nick Fonte to the ATI team.

Recent Posts:

Recent Posts:

Scana Industrier ASA (“Scana”) has signed an agreement regarding sale of the daughter companies Scana Offshore Services Inc, Scana Offshore Technology AS and the service part of Scana Offshore Vestby AS. All these companies are a part of the business area Scana Offshore. The buyer is HitecVision fond VI. Scana Offshore Services was bought in 2008 from local founders in Houston, USA. The company have had a very positive growth during the last year, and after moving into new production facilities and introduction of own products the company has increased its market share in Gulf of Mexico. Scana Offshore Technolgy was established in 2006 at Jørpeland outside Stavanger. The company provide services and maintenance and repair of equipment to the oil and gas industry. Scana Offshore Vestby was established after the acquisition of Brødrene Johnsen AS and AMT AS in 2006. The Service part of Scana Offshore Vestby delivers maintenance services of risers as a part of their services. The revenue for the companies in 2013 were NOK 214 million. About 130 employees are included in the transaction. The sales price is NOK 135 million. The sale will have a positive effect on the first half 2014 accounts and strengthen the Scana Group balance sheet and liquidity.

Final takeover will be in second quarter 2014.

-The sale of these companies release values in the Group and has been needed to improve Scanas liquidity and development of other part of the business. At the same time HitecVision represent a professional owner ship that can develop the companies, and we are glad to sell to an owner who has this knowledge to the companies markets, says CEO at Scana Industrier ASA, Jan Henry Melhus. -We are very pleased with the basis Scana has built for these companies and are looking forward to work together with employees and customers to ensure a further positive development, says Arne Magnus Rise in HitecVision.

Handelsbanken Capital Markets has been Scanas financial advisor.

For further information please contact:

Mr. Jan H Melhus, CEO Scana industrier ASA, Mobile +47 90 16 70 10

Mr. Kjetil Flesjå, CFO Scana Industrier ASA, Mobile: +47 90 04 12 13

About Scana Industrier ASA

Scana Industrier ASA is a Nordic industrial group whose key business is supplying

products and system solutions to energy-related businesses. This encompasses oil and gas, 

other forms of energy and marine activities for the offshore area. Scana also provides servicing, maintenance and repairs for customers in the same markets. Scana Industrier ASA has subsidiaries in Norway, Sweden, China, the USA, Poland, Singapore, Brazil and South Korea. The Group’s head office is in Stavanger. For further information please have a look at www.scana.no.

About HitecVision

HitecVision is the leading private equity investor in Norway and the biggest private equity investor in Europe within the oil & gas market. The company is advisor for four funds with a total committed capital of NOK 18 billion. The funds invest in growth companies in the oil and gas sector in Norway and internationally. HitecVision has 45 employees in Stavanger (head office), Oslo and Houston. Examples of investments in the service segment of the oil and gas industry include; Agility Group, Apply, Deep Well, Vryhof and Ocean Installer. For further information please have a look at www.hitecvision.com

Recent Posts:

According to the French  newspapers  Le Repubilcain Lorrain, Issad Rebrab an Algerian steel  Tyccon Bids to buy Ascometal A French Special Steel makers, The Algerian  Billionaire seems motivated to acquire  the Fos Sur Mer Steelmaking plant Facility. . Issad Rebrab isa self-made billionare and new entry on the billionaire list in 2013, this 70 year old Algerian heads up Cevital. The food production company is the largest family-owned business in Algeria and had a turn-over of over $3 billion between 2012 and 2013.  Rebrab is a trained accountant who originally made his fortune through investments in the metal industry, and later used his capital to move into food.

Credit Photo @ The richest

AA

Recent Posts:

Lisi Group – the French aerospace, medical products and automotive components company – has announced the acquisition of Manoir Aerospace; a France-based producer of structural components and forging services for aircraft. The acquisition – terms of which were not disclosed – was announced on 7 May. Manoir Aerospace employs 1,100 people at sites in France, Belgium and Mexico. It returned 2013 sales of EUR164 million (USD228 million). Lisi Group employs close to 9,000 people at 38 sites globally.

Source : Jane’s

Recent Posts:

 The Nanterre Commercial court has made a decision regarding the takeover of insolvent French speciality steelmaker Ascometal. Reuters reports that the court has approved a bid from a group of French investors, led by Frank Supplisson, a former finance ministry official.Prior to its insolvency Ascometal employed 1,900 people, but was hit by the economic downturn in Europe. Four bidders were reportedly in line to take control of the company, including two private equity groups linked to former financiers and shareholders, as well as Brazilian steel giant Gerdau. However, it was Supplisson’s bid that proved the most compelling: it included €55.5m in capital, €40m in long-term debt, and the promise of rehiring ‘all industrial staff’. According to Reuters, Supplisson’s group now stands to receive a €35m state loan, as indicated in a letter from French Industry Minister Arnaud Montebourg.

(Reuters) – A commercial court has picked a group of French investors led by former finance ministry official Frank Supplisson ahead of Brazilian steelmaker Gerdau (GGBR4.SA) to take over the assets of bankrupt specialty steelmaker Ascometal. French Economy Minister Arnaud Montebourg welcomed the decision by the court in Nanterre, near Paris on Thursday and pledged government support via its economic development fund as part of a plan to help companies in difficulty. The group formed around Supplisson, former deputy chief of staff to former finance minister Christine Lagarde, had said its bid included 55.5 million euros ($76 million) in capital and 40 million euros in long-term debt. Montebourg had said in a letter seen by Reuters that the group would get a 35 million euro state loan. The group also said it would hire all of Ascometal’s industrial staff. Before the bankruptcy, Ascometal employed 1,900 people at six plants in France. The supplier of specialist steel products to the automotive, engineering and oil sectors had sales of 969 million euros in 2011. Nordic specialty steelmaker Ovako is also involved in the French consortium bid.

Source : Insol & Reuters

Recent Posts:

Jul 16, 2014 – Italian private equity fund manager Clessidra Sgr has sold 42% in steel alloy maker Metalcam to Metalcam’s chief executive Mario Cocchi, business daily MF-Milano Finanza reported on Wednesday, without quoting sources or naming the price of the deal. Holding company Carlo Tassara of French-Polish financier Romain Zaleski holds another 48% in Metalcam. Cocchi has been

Zaleski’s right-hand man for a long time, according to the MF daily. Clessidra acquired the 42% interest in Metalcam in July 2007 when the steel product maker was generating some EUR 100 million (USD 136m) turnover

(Italian)

Clessidra sgr ha ceduto il 42% di Metalcam all’amministratore delegato Mario Cocchi, storico braccio desto del f inanziere franco-polacco Romain Zaleski. L’azienda siderurgica di Breno per il resto fa capo per il 48% alla Carlo Tassara dello stesso Zaleski  e per il 10% ai dipendenti. Con l’uscita del fondo guidato da Claudio Sposito dal capitale di Metalcam, ha dato le dimissioni il presidente Gregorio Gitti. Clessidra aveva acquisito la sua quota in Metalcam nel luglio 2007, quando la società fatturava circa 100 milioni. Metalcam produce forgiati a disegno in acciai di alta qualità destinati ai settori dell’oil & gas, energetico, navale e meccanico con stabilimenti a Breno (Bs), Cortenova (Lc) e Hilchenbach (Francoforte – Germania). MF-Milano Finanza ricorda oggi che nel 2013 Metalcam ha fatturato 120 milioni dai 114 del 2012, quando aveva registrato un ebitda di 24,5 milioni e una perdita di 21,9, dopo svalutazioni e ammortamenti per 32,2 milioni.  A fine 2012 il debito finanziario netto era di 222 milioni, inclusi 70 milioni di debito subordinato. Nell’estate 2013 è stato sottoscritto un accordo di ristrutturazione del debito sulla base dell’art. 67 della Legge Fallimentare, che prevedeva l’estensione delle scadenze, la ridefinizione degli obiettivi finanziari da rispettare (covenant) e l’impegno di conversione dei finanziamenti subordinati verso Carlo Tassara in capitale o strumenti equivalenti al verificarsi di alcune condizioni. Il grosso del debito senior è rappresentato dai finanziamenti in pool concessi per il leveraged buyout del 2007 da Unicredit (capofila), Banco di Brescia, Popolare di Bergamo e Banca di Valle Camonica.

Source:

http://bebeez.it/2014/07/16/metalcam/

Recent Posts:

Recent Posts:

Recent Posts: