Titanium Forging part  Process at Thyssenkrupp VDM  Unna

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ThyssenKrupp is considering selling its stainless steels, superalloys, and titanium division ThyssenKrupp VDM. Analysts said that the realistic value is around €250 million  but ThyssenKrupp hope to earn the double. Several players from the industry, especially financial investors are interested in VDM, including Lindsay Goldberg, Triton, KPS Capital and Advent. The deadline for submission is October 22^nd.  ThyssenKrupp VDM EBIT is expected to be close to zero for this year

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Thyssen-Krupp plant Verkauf

http://www.handelsblatt.com/unternehmen/industrie/vdm-thyssen-krupp-plant-verkauf-/10734108.html

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Dongbu Group headquarters in southern Seoul (Credit Photo @ Yonhap )

SEOUL, Sept. 25 (Yonhap) — Four potential buyers, including Hyundai Steel and SeAH Group, have joined a race to buy Dongbu Special Steel that has been put up for sale as part of its parent conglomerate’s restructuring program, financial sources said Thursday. The two companies along with another local listed company and a foreign private equity fund (PEF) submitted their bid proposals for the special steel maker to sale manager Deloitte Anjin LLC, the sources said. Of the four, Hyundai Steel and SeAH are likely to win the bid, they added. The Dongbu company set up in 1979 makes cold heading quality products and cold drawing bars that are used to make cars and planes, as well as in the construction sector. Korea Development Bank (KDB), which took control of the special steel maker for 110 billion won (US$105.6 million) in June by creating its own PEF, had sent letters to prospective purchasers late last week asking them to forward their letters of intent (LOI) for evaluation by Thursday. Hyundai Steel is in the process of constructing its own specialty steel work at its Dangjin plant, 123 kilometers south of Seoul, that is scheduled to go on-line in 2016. It said by buying Dongbu Special Steel, Hyundai Steel will be able to push for an economy of scale and contribute to a solid vertical integration of specialty steel production within Hyundai Motor Group. The Dangjin plant will have an annual output capacity of 1 million tons. Hyundai Steel is an affiliate of the world’s fifth largest automotive conglomerate that includes the flagships Hyundai Motor Co. and Kia Motors Corp., the country’s two largest carmakers. SeAH also wants to buy the Dongbu company because it wants to hold onto its leading position in the domestic special steel industry. At present SeAH’s domestic market share stands at 43 percent with Dongbu Special Steel holding 23 percent. The conglomerate is, moreover, in the process of taking over POSCO Specialty Steel that maintains an edge in the stainless steel business. Senior executives of both Hyundai Steel and SeAH have said they want the company for their own. KDB and Deloitte Anjin said they plan to arrange a formal bid in October and pick the preferred bidder for the special steel company in November.

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Tata had already announced up to 500 job cuts last October in an effort to make the business more competitive, and Koehler said today that the sell-off was about concentrating their focus on core activites.

“Accelerating the pace of innovation on advanced steel solutions, helping our customers succeed in their markets and creating a sustainable asset base requires significant capital and expertise,” he said. “We have therefore decided to concentrate our resources mainly on our strip products activities, where we have greater cross-European production and technological synergies.

“We want to build a sustainable business in the UK and further develop our mainland Europe business and we are committed to providing the necessary leadership and financial resources to achieve that.”

Steelworkers’ union Community, Unite and the GMB said in a joint statement: “Tata Steel has failed to consult at all with the trade unions before making this move, which could have serious consequences for employees and contractors right across Tata Steel, not just within the Long Products business that it wants to sell.

“The unions have been treated with contempt in this process as the level of consultation that we would expect ahead of such a major strategic announcement has not taken place.

“We were made aware of this fait accompli two days ago, which is neither within the spirit nor the letter of long-standing Information and Consultation or European Works Council agreements. We want Tata Steel to take a step back and carry out the consultation with its unions, which it should have been doing in recent months when it was preparing to sell its assets.

“The fact that Tata Steel wants to abandon half of its European operations and pull out of an entire strategic market does not bode well for the future and ends Tata Steel’s vision to be a global steel player.

“Tata Steel has long emphasised that its European operations are ‘one company’ but today’s announcement is the final nail in that concept’s coffin. We are calling on the government to intervene in the public interest to ensure a future for industrial assets of strategic importance to the UK’s construction, infrastructure and manufacturing base.”

The Klesch Group is a global industrial commodities business, with three divisions specialising in the production and trading of chemicals, metals and oil. Founded in 1990 and headquartered in Geneva, it employs more than 2,000 people across 30 locations in more than 17 countries around the world.

Business Secretary Vince Cable said: “The next few months will be a time of uncertainty for the company and employees. The proposed sale shows the harsh reality of trading conditions in parts of the steel industry.

“I met the global head of Tata in India this week and he has personally re-affirmed to me his company’s commitment to the British steel industry and to investing substantially in Port Talbot and strip steel.”

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The new FOMAS 110 MN Open Die Press with 400 TMT integrated manipulator (Credit Photo @ Casting-Forging News)

ASNAGO, Italy and YORK, S.C., Oct. 14, 2014 /PRNewswire/ – FOMAS Group is pleased to announce, that effective October 10, it acquired Ajax Rolled Ring & Machine, LLC (Ajax) based in York, South Carolina. Under its long-term vision and medium-term management targets, FOMAS Group has sought to expand its seamless ring rolling business not only through organic growth but also by actively pursuing opportunities to acquire companies in the rolled rings industry. This acquisition further strengthens FOMAS Group’s position in the seamless rolled rings market, as Ajax’s capabilities are highly complementary to those of FOMAS Group, with limited product overlap. The joining of forces with Ajax will give FOMAS Group a strong presence in the United States and, through the mutual sharing of the existing brands and business relationships, it will increase the sales opportunities. The operation is strategically aligned with the FOMAS Group’s objective to provide turnkey solutions, from forging and ring rolling to a fully finished machined & preassembled part. This acquisition confirms the FOMAS Group’s financial soundness and it will not only fortify the Group’s presence in the United States, but it will be a further challenge to grow experience and know-how in new markets. “The acquisition of Ajax is another important step in our journey to excel in the forging industry,” said Jacopo Guzzoni, vice president & Chief Executive Officer of FOMAS Group. “This transaction will strengthen our presence in the United States, where our customers will regard a local production site very positively. It will toughen our global presence; reinforcing the fact we are not a local company limited to a specific area, nor part of an oversized Group. We can be considered as a mid-sized multinational between smaller and larger firms, with the ability to network both locally and internationally.”

ABOUT AJAX Rolled Ring & Machine, LLC
Headquarters: York, South Carolina
Year of Establishment: 1980
Principal places of Business: USA
Principal Business:  seamless rolled rings  that  are  used  in  a  variety  of  critical  industrial components including bearing races, gears, flanges, and valve seat rings for end-use markets such as the bearing industry, power-generation including steam and gas-turbine, wind energy, mining and construction equipment, oil & gas, aerospace, petrochemical, defense, rail transportation, and a wide variety of general industrial applications.
Employees: 100
www: http://www.ajaxring.com

ABOUT FOMAS Group
Headquarters: Osnago, Lecco Italy
Year of Establishment: 1956
Principal places of Business: USA/Europe/India/China/Russia/West Pacific
Principal Business: forgings and seamless rolled rings, in any type of steel and non-ferrous alloys for the most demanding and critical sectors. Power Generation, Nuclear, Oil & Gas, Gears, Transmission & Bearings, Construction Equipment, General Industry.
Employees: 1,300
www: http://www.fomasgroup.com

SOURCE FOMAS Group

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Transaction Enhances Product Suite in High-Growth Jet Engine Segment

• Acquisition grows Alcoa’s portfolio of titanium structural cast parts for world’s bestselling jet engines and airframe structures
  
• Expands product suite to meet growing demand; TITAL’s titanium revenues are expected to increase by 70 percent over the next five years
• Adds expertise in engineering and manufacturing advanced, single-piece titanium and aluminum components that reduce jet engine weight and complexity
• Establishes titanium casting capabilities in Europe, close to key customers; also expands aluminum casting capacity
• Continues Alcoa’s expansion into advanced jet engine components

NEW YORK & BESTWIG, Germany–(BUSINESS WIRE)–Lightweight, high-performance metals leader Alcoa (NYSE:AA) today announced plans to further expand its global aerospace business through a definitive agreement to acquire privately held TITAL. The acquisition will strengthen Alcoa’s global position to capture increasing demand for advanced jet engine components made of titanium. Germany-based TITAL is a leader in titanium and aluminum structural castings for aircraft engines and airframes. Its revenues from titanium are expected to increase by 70 percent over the next five years as manufacturers of next-generation jet engines look to titanium solutions for engine structural components. Titanium can withstand extreme high heat and pressure, and is a lighter weight alternative to steel, providing increased energy efficiency and improved performance. These engines are used on large commercial aircraft, including wide- and narrow-body airplanes. Engines for narrow-body aircraft are among the top selling jet engines in the world. “This acquisition is the next step in building a powerful aerospace growth engine,” said Klaus Kleinfeld, Alcoa Chairman and Chief Executive Officer. “As a fast-growing innovator, TITAL will increase our share of highly differentiated content on the world’s best-selling jet engines. The company’s talent and customer relationships will boost Alcoa’s expanding global aerospace leadership as we meet the future needs of our customers. We have the highest respect for our future colleagues and look forward to welcoming them wholeheartedly into the global Alcoa family.”

Philipp Schack, CEO of TITAL said, “Alcoa is widely recognized for its innovation and manufacturing expertise, which is fully in line with TITAL’s philosophy. We look forward to joining the Alcoa family, and to combining our world-class technologies and processes. Alcoa was and is our desired partner. We are glad to join this impressive company at an exciting time.”

Transaction benefits

This transaction will further position Alcoa to capitalize on strong growth in the commercial aerospace sector. Alcoa projects a compounded annual commercial jet growth rate of 7 percent through 2019 and sees a current 9-year production order book at 2013 delivery rates. Almost 70 percent of TITAL’s revenues are expected to come from commercial aerospace sales in 2019. In 2013, the company generated revenues of approximately €71 million (US$96 million), more than half of which came from titanium products.

The acquisition will establish titanium casting capabilities in Europe for Alcoa, while expanding its aluminum casting capacity. TITAL’s strong connections to European engine and aircraft manufacturers such as Airbus, SNECMA, and Rolls-Royce, will enhance Alcoa’s customer relationships in the region, and beyond.

TITAL’s engineers are known and highly respected experts in manufacturing advanced, single-piece components, often delivered ready for the customer to install, which lower weight and reduce complexity. These products, such as engine gearboxes, nacelles and fan frames, are used on current and next-generation jet engines and airframes. TITAL will add capabilities in casting titanium airframe structures, such as titanium castings for pylons. Pylons mount engines onto airframes and are a highly-engineered part because they must bear the load of the engine and its thrust.

In addition, TITAL is a leader in process technology. It employs advanced techniques needed to manage titanium’s reactive properties, including cold hearth melting and centrifugal and gravity casting. Its teams also use 3D-printed prototypes, enabling customers to test designs and bring a finished product to market faster.

TITAL employs more than 650 people, primarily in Bestwig, Germany.

The transaction, which has been approved by the Boards of Directors of both companies, remains subject to customary closing conditions and receipt of required regulatory approvals. Alcoa expects to obtain all required regulatory clearances and close the transaction in the first quarter of 2015.

Financial details of the transaction were not disclosed.

Alcoa Aerospace

Alcoa has been aggressively growing its aerospace business as part of the Company’s broader transformation. In November, Alcoa completed the acquisition of global jet engine component leader Firth Rixson, announced in June. This was the first of two announced acquisitions in 2014, including the TITAL transaction. Earlier this year, Alcoa announced investments to expand jet engine parts production in Indiana and Virginia, opened the world’s largest aluminum-lithium facility in Indiana, and in Michigan, plans to expand its coatings capabilities for jet engine components. In addition, the Company announced plans to install advanced aerospace plate manufacturing capabilities in Iowa. It also announced more than $2 billion in supply deals with Boeing and Pratt & Whitney, which included the world’s first forging for an aluminum fan blade for Pratt & Whitney’s PurePower® jet engines. The PurePower engine will be used to power some of the world’s highest volume aircraft, including the next-generation Airbus A320neo.

Alcoa’s aerospace business holds the number one global position in aluminum forgings and extrusions, jet engine airfoils and fastening systems and is a leading supplier of structural castings made of titanium, aluminum and nickel-based superalloys and aluminum sheet and plate. It also holds the number one global position in seamless rolled jet engine rings, engineered from nickel-based superalloys and titanium, and is one of the world’s leading suppliers of vacuum melted superalloys used to make aerospace, industrial gas turbine, oil and gas products and structural components for landing gear applications. It also has entered into a highly specialized segment of jet engine forgings that require isothermal forging technology.

About Alcoa

A global leader in lightweight metals technology, engineering and manufacturing, Alcoa innovates multi-material solutions that advance our world. Our technologies enhance transportation, from automotive and commercial transport to air and space travel, and improve industrial and consumer electronics products. We enable smart buildings, sustainable food and beverage packaging, high-performance defense vehicles across air, land and sea, deeper oil and gas drilling and more efficient power generation. We pioneered the aluminum industry over 125 years ago, and today, our approximately 62,000 people in 30 countries deliver value-add products made of titanium, nickel and aluminum, and produce best-in-class bauxite, alumina and primary aluminum products. For more information, visit www.alcoa.com, follow @Alcoa on Twitter at www.twitter.com/Alcoa and follow us on Facebook at www.facebook.com/Alcoa.

About TITAL

TITAL supplies industry leading companies around the world primarily in the field of aerospace and defense systems with sophisticated aluminum and titanium investment casting products using the lost wax process. TITAL was founded in 1974 and in 2006 the management took over the company. Today the company employs about 650 people with 2013 revenue of about €71 million or $96 million.

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Der Gesamtbetriebsratsvorsitzender Gerd Bendiks (l.) und sein Vertreter Dirk Schumacher werden in der Kommission sitzen, die den Verkauf der VDM begleiten soll. (Credit Photo @ Com-on.de)

Auf der Internetseite der Industriegewerkschaft Metall hat der VDM-Betriebsrat unter Gerd Bendiks erklärt, dass mit der Unternehmensleitung von ThyssenKrupp eine Vereinbarung über die Modalitäten eines wohl unmittelbar bevorstehenden Verkaufs der VDM getroffen wurde. Bei der Rückkehr der VDM von Outokumpu zu ThyssenKrupp im März vergangenen Jahres hatte der Vorstand unmissverständlich erklärt, dass die VDM auf kurze Sicht nicht im ThyssenKrupp-Konzern bleiben werde. Der Gesamtbetriebsrat hatte bereits Mitte Dezember 2014 (also vor vier Wochen) nach eigenen Angaben „Anzeichen für einen Verkauf der VDM“ erhalten. Der Gesamtbetriebsrat habe daraufhin sofort Gespräche mit dem ThyssenKrupp-Vorstand aufgenommen, um die „rechtzeitige und umfassende Beteiligung der Mitbestimmung“ für die Beschäftigten zu sichern. Das Ergebnis dieser Verhandlungen wurde Informationen des Gesamtbetriebsrats zur Folge in einer Vereinbarung namens „Zukunft VDM“ festgeschrieben. Der Betriebsrat hat die wesentlichen Inhalte dieser Vereinbarung am Freitag in einer Mitteilung an die „Kolleginnen und Kollegen“ im Internet veröffentlicht. Der zentrale Satz wird so wiedergegeben: „Die ThyssenKrupp AG stellt sicher, dass der potentielle Käufer vor dem Erwerb mit den Arbeitnehmervertretern Gespräche über die Sicherung aller Standorte und Arbeitsplätze sowie der notwendigen Investitionen aufnimmt.“ Folgende weitere Stichworte wurden genannt: Realisierung eines Zukunftskonzeptes unter Beteiligung der Arbeitnehmer; Abschluss einer Fair-Owner-Vereinbarung mit dem potentiellen Erwerber; Erhalt aller erworbenen Rechte der Arbeitnehmer; Anerkennung aller Tarifverträge; Einkommenssicherung; Betriebszugehörigkeit; Altersversorgung. Die Mitglieder der Begleitkommission der Arbeitnehmerseite sind die Betriebsräte Gerd Bendiks, Dirk Schumacher und Ralf Springob sowie Holger Timmer und Holger Neumann von der IG Metall. Auf Seiten der Arbeitnehmer stehen in der Kommission auch ein externes Beratungsunternehmen und eine externe Juristin. Bendiks schreibt: „Die entscheidenden Wochen für die Zukunft der VDM stehen uns bevor. Egal, wer der neue Besitzer der VDM in Zukunft sein wird, ob nun ein Finanzinvestor oder doch ein strategischer Investor, wir müssen von Anfang an klar machen, dass ein Erwerb der VDM ohne die Belange der Beschäftigten zu berücksichtigen mit uns nicht zu machen ist.“ Bendiks krempelt verbal die Ärmel hoch: „Wir sind bereit für unsere Rechte auf die Straße zu gehen und für unsere Arbeitsplätze zu kämpfen.“ 135 Stellen werden per Sozialplan abgebaut Bereits Mitte Dezember hatten sich ThyssenKrupp-Vorstand und Betriebsrat auf einen Sozialplan verständigt. Das Unternehmen teilte mit: „Bei VDM Metals sollen in den kommenden drei Jahren 135 der aktuell über 2000 Stellen abgebaut werden. Betroffen sind alle deutschen Produktionsstandorte – neben dem Unternehmenssitz Werdohl sind dies die Standorte Altena, Unna, Essen und Siegen. Nach intensiven Verhandlungen haben sich Unternehmensführung und Gesamtbetriebsrat von VDM Metals auf einen Sozialplan geeinigt.“ – Von Volker Heyn

Source :

http://www.come-on.de/lokales/werdohl/werdohl-steht-kurz-verkauf-4648218.html

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(Credit Photo @ Manoir Industries)

(US)

Three rescuers, including French Ascométal and Indian Bharat Forge, have expressed interest to take over Manoir Industries Custines (Meurthe-et-Moselle). However no official letter was received by the Paris Commercial Court. The Meurthe-et-Moselle site has accumulated €13 million of losses since the purchase of Manoir Industries by the Chinese group Yantai Taihai two years ago. Manoir Industries (1600 employees, including 900 in France, 180 million euros in 2014) operates on the markets of  petrochemical, defense and nuclear. In addition to its site Custines, the group holds another forge in Bouzonville (Moselle) whose future does not seem compromise.

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(French)

Le tribunal de commerce de Paris a prolongé jusqu’au 18 mai la période d’observation de Manoir Industries à Custines (Meurthe-et-Moselle). Trois repreneurs seraient en lice pour la reprise de ce site de  184 salariés, mais aucune lettre d’intention n’a encore été déposée auprès du tribunal. Les 184 salariés de Manoir Industries n’ont obtenu qu’un maigre soulagement à l’issue de l’audience du tribunal de commerce de Paris, qui devait statuer sur une éventuelle liquidation.  Placée en cessation de paiement en février dernier, l’usine spécialisée dans la production de pièces pour l’industrie pétrolière a obtenu la prolongation de sa période d’observation jusqu’au 18 mai. Ce nouveau délai permettra au tribunal d’examiner d’éventuelles offres de reprise officielles. Trois repreneurs, dont le français Ascométal et l’indien Bharat Forge, ont manifesté leur intérêt, mais nous n’avons obtenu aucune précision sur la nature de leur offre. Franco Zuccarini, délégué du personnel CGT du groupe. La quasi-totalité du personnel a observé une grève doublée d’un blocage du site vendredi dernier pour protester contre le « manque de transparence » de la direction. Les représentants du personnel ont été reçus par le préfet de Meurthe-et-Moselle ce lundi pour exprimer leur inquiétude. Le site meurthe-et-mosellan enregistre 13 millions d’euros de pertes cumulées depuis le rachat de Manoir Industries par le groupe chinois Yantai Taihai voici deux ans. Manoir Industries (1 600 salariés, dont 900 en France, pour 180 millions d’euros en 2014) intervient sur les marchés de la pétrochimie, de la défense et du nucléaire. Outre son site de Custines, le groupe détient une autre forge à Bouzonville (Moselle) dont l’avenir ne paraît pas compromis.

Source :

http://www.ici-c-nancy.fr/lorraine/item/9244-manoir-industries-a-custines-un-delai-pour-retrouver-un-repreneur.html

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(Credit Photo @ Vogel Business Media)

ThyssenKrupp is nearing a sale of its loss-making alloys unit VDM to private equity firm Lindsay Goldberg Vogel for about €500 million. But the head of ThyssenKrupp’s works council said the talks were not concluded and the outcome was dependent on jobs and workplace guarantees for VDM’s staff, who have the power to block any deal. “There is no decision,” said Wilhelm Segerath. ThyssenKrupp is transforming itself from a steelmaker into an industrial goods supplier. ThyssenKrupp was forced to buy back high-performance alloys unit VDM along with stainless-steel unit AST from Outokumpu last year after selling them to the Finnish steelmaker as part of a bigger deal. The two together have a book value of over €900 million and are making operating losses while being restructured.

Source : Reuters

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Dongfang Electric Corp (DEC) , meanwhile, is eyeing Areva plants that manufacture vats and generators, particularly those of its Creusot Forge and Saint-Marcel units, the paper reported, adding that a joint venture might be possible. (Credit Photo @ Ville de france)

Areva  has attracted the interest of three Chinese groups in its technology and parts of its business as the loss-making, majority state-owned French nuclear reactor company restructures, Le Journal du Dimanche reported. China General Nuclear Power Corp (CGN) and China National Nuclear Corp (CNNC) are open to all forms of cooperation, including joint ventures and taking stakes in Areva, the Sunday newspaper said. Dongfang Electric Corp (DEC) , meanwhile, is eyeing Areva plants that manufacture vats and generators, particularly those of its Creusot Forge and Saint-Marcel units, the paper reported, adding that a joint venture might be possible. Areva is open to the possibility that CGN and CNNC could take stakes in the company, an idea supported by Chairman Philippe Varin, the paper said, citing several unidentified sources. The Chinese firms would not take more than 10 percent of its capital, the paper added.

A spokeswoman for Areva declined to comment.

Areva, which is 87 percent state-owned, last week made no comment on the progress of its restructuring and financing plan and reiterated that details would be communicated to financial markets by the time its first-half results are published.

During a visit by French Prime Minister Manuel Valls to China at the end of January, Areva signed a deal with CNNC to create a joint-venture in the field of nuclear transportation and logistics.

Source :

http://uk.reuters.com/article/2015/05/03/uk-areva-china-idUKKBN0NO0JX20150503

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(Credit Photo @ C*Blade)

t July 1, 2015 – SIFCO Industries, Inc.  announced today that it has completed its acquisition of the Italian-based company C*Blade from Riello Investment Partners. “We’re pleased to have C*Blade as part of the SIFCO family”, said Michael S. Lipscomb, Chairman and Chief Executive Officer. “C*Blade’s best-in-class forging and machining capabilities will extend SIFCO’s global reach and expand our capabilities in our target aerospace and energy markets.” Located in Maniago, Italy, C*Blade has been in business for more than 50 years and specializes in the manufacture of turbine and compressor blades, serving both OEM and aftermarket customers. In connection with the acquisition, SIFCO has also announced that it has executed a new $45M Credit and Security Agreement. “In addition to funding a portion of the purchase of C*Blade, our new credit agreement provides SIFCO additional capital to support our growth strategy,” said Mr. Lipscomb. SIFCO Industries, Inc. is engaged in the production of forgings and machined components primarily for the aerospace and energy markets. The processes and services include forging, heat-treating, and machining. Forward-Looking Language Certain statements contained in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future business development activities, and are thus prospective. Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, economic conditions, competition and other uncertainties detailed from time to time in the Company’s Securities and Exchange Commission filings. The Company’s Form 10-K for the year ended September 30, 2014 can be accessed through its website: www.sifco.com, or on the Securities and Exchange Commission’s website: www.sec.gov.

Source:

http://sifco.com/news/2015/03/19/press-release-re-cblade-and-cfo/

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Lebronze alloys has decided to propose, in cooperation with former managers and employees, to restart Manoir Custines’ site, stopped since June 6, 2015 in the context of its judicial liquidation. Custines becomes an establishment of the company Forges de Trie-Château, which in turn is a subsidiary company of Lebronze alloys specialized in forging and machining of large and medium steel parts, aluminium and copper alloys. The Custines site brings strong synergies with the rest of the activities of the Group’s Lebronze alloys: open die forging with large dimensions, close die forging, rolling, heat treatment and machining of large parts, including a Nadcap laboratory, intended for the aerospace, defense, nuclear, construction, energy and rail industries. The plant is capable of processing a wide range of metals: steel, stainless steel, aluminum, titanium and super alloys, which reinforces the stated Lebronze alloys Group’s diversification strategy. The widening of the production range and the implementation of multiple crossed-production routes between the Group’s sites will allow to capture industrial synergies and to propose a global service to many common customers. To this end, the recruitment of 45 employees with the necessary skills to ensure the continuity of the full historical range of products of the site has started. The Paris Commercial Court has validated the purchase by Lebronze alloys of all the assets of the Custines production site, including tooling and stock necessary for a rapid relaunch of production as from September 7, 2015. The Commissioner of productive recovery (Ministry of Industry), as well as the former owner of Custines, Manoir Industries, who will ensure the continuity of information systems, supported the restarting of the activity, essential for many customers and for the local economy.

Lebronze alloys, which is headquartered by the company Le Bronze Industriel is a group of 1,200 people located on 11 sites, including 7 in France, with a turnover of € 200 million, specialized in copper and copper alloy casting and manufacturing, and in the processing of steel, stainless steel and aluminium. Forging and machining activities represent over 50% of Group employees. Our Group continues to invest over € 15 million per year is growing strongly both through internal development and acquisitions.

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Perryman Co. said  it acquired titanium revert processor Spectralloy Co. LLC. Located in Goodville, Lancaster County, Spectralloy is a recycler of titanium revert, or reclaimed scrap, for use in various titanium melt processes in the manufacture of titanium ingots. It employs 12 people. Perryman, which did not disclose the purchase price, said in a news release the acquisition will strengthen its raw material supply chain. “This acquisition further strengthens our position to manage the revert supply stream to our operations,” said Frank Perryman, president and chief executive officer. “The addition of Spectralloy to our organization complements our current raw material processing supply chain.” Perryman will now have in-house solid feedstock processing capabilities to add to its in-house titanium chip processing. The company said Spectralloy is a longtime supplier of recycled titanium to the titanium industry and has been a strategic supplier to Perryman for many years. Over the past several years, Perryman expanded its manufacturing footprint and increased capacity to support strategic growth initiatives. Perryman Chief Executive Frank Perryman said Tuesday the Spectralloy purchase follows expansions at its Houston and California sites, spending $40 million on additional buildings and equipment to double its production capacity by 2016. The company, whose primary markets are the aerospace and medical industries, forecasts an increased need for its titanium products in the 2016-2020 timeframe. “As demand for our products continues to grow, it is imperative that we strive to be as efficient as we can in all that we do,” Perryman said in a statement. “Through this acquisition, we are enhancing our ability to manage our feedstock. It’s a natural integration step for us and, along with our recently added manufacturing capacities, allows us to better support our customers as they grow” Perryman said. Perryman Co., founded in 1988, is an integrated titanium producer from melting of ingot to finished products, which includes ingot, bar, coil, fine wire, net shapes and hot rolled products. Its forging and fabrication group offers medical device contract manufacturing in a range of materials including plastics and titanium. A titanium global leader, Perryman suppliesand services customers in the aerospace, medical, consumer, industrial and recreation markets.

Source:

http://www.observer-reporter.com/article/20150915/NEWS08/150919576

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In 2015, Warren Buffett’s Berkshire Hathaway Inc. agreed to buy Precision Castparts Corp.,  in a deal valued at $37.2 billion, including debt.

High Performance Alloys Industry is under consolidation, here under the most famous Merger & Acquisition Transactions during the last 10 year :

• 2015 – Berkshire acquires Precision Castparts for $37.2 billion
• 2015 – Alcoa acquires Firth-Rixson for $2.85 billion
• 2015 – Lindsey Goldberg acquires VDM Metals for € 500 million
• 2015 – Alcoa acquires RTI for $1.5 billion
• 2014- FOMAS Acquires Ajax Rolled Ring & Machine for undisclosed value
• 2014- Alcoa acquires Tital for undisclosed value
• 2012 – Precision Castparts acquires Timet for $3 billion
• 2012- Precision Castparts acquires Heroux-Devtek aerospace operations for $295 million
• 2012- Precision Castparts acquires RathGibson for undisclosed value
• 2011- Nippon Steels acquires Sumitomo Metals for $22.47 billion
• 2011- Precision Castparts acquires Primus international for $900 million
• 2011- Carpenter Technology acquires Latrobe Specialty Metals for $558  million
• 2011- Alcoa acquires Transdigm Aero Fasteners for $240 million
• 2010- Alegheny Technologies acquires Ladish Co for $ 778 million
• 2009- Precision Castparts acquires Carlton Forge Works for $850 million
• 2007- Oak Hill Partners acquires Firth Rixson for $1.975 billion
• 2007- Voestalpine AG acquires Boehler-Uddeholm for 5.955 billion
• 2007- Doncasters Group acquires FasteTech for $492 million
• 2007- Precision Castparts acquires Cherry Aerospace for $300 million
• 2006- Tata Steel acquires Corus for $7.6 billion
• 2005- Dubai Inter Corp acquires Doncasters Group for $700 million
• 2005- Precision Castparts acquires Speciality Metals Corporation for $540 million.

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Sidenor Reinosa, (credit photo @ .eldiariomontanes)

Brazilian steelmaker Gerdau said in a filing with securities regulators y that it had not made a decision on whether to sell Sidenor, a specialty steel unit in Spain that employs nearly 2,500 people. The Brazilian Securities Commission had asked the steelmaker about recent press reports that banking giant Santander had been hired by Gerdau to help orchestrate a sale of the Spanish mills. Gerdau said it regularly reviewed “opportunities to optimize assets with a strategic view toward generating higher returns for its businesses, operations and shareholders.” As a result, “investment banks and specialized firms are consulted, at times, to identify and evaluate such opportunities,” Gerdau said. The steelmaker said it would keep the markets informed of any decisions regarding a possible asset sale. Gerdau has 2,250 employees at its 10 mills in Spain, where it produces specialty steel products. The steelmaker, the leading producer of long steel products in the Americas and one of the main suppliers in this category around the world, acquired Sidenor’s mills along with Banco Santander and a group of Sidenor executives in 2005. Gerdau has a 40 percent stake in the unit, while Santander owns another 40 percent of the stock and the company’s management has a 20 percent stake.

Source :

http://latino.foxnews.com/latino/news/2015/10/20/brazilian-steelmaker-gerdau-says-no-decision-made-to-sell-sidenor-unit/

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Saint-Saulve Steelmaking Shop (Credit Photo @ Le Figaro)

(US) 

According to the french regional newspaper Le Republicain Lorrain, Ascometal will take over the Vallourec’s Saint-Saulve Steelmaking Facility.  The new owner will remain the 350 employees. Ascometal – with 1,800 workers –  is a French steelmaking company focused on automotive and Oil & Gas market This strategic acquisition will allow

Ascometal to integrate Saint-Saulve  in its industrial process to better serving the bearings market. Vallourec Saint-Saulve steelmaking plant has a capacity of 800,000 tons/year, a new continuous casting was  installed in 2008 for €66 millions and a new EAF Furnace  with a capacity of 100 tons for each batch invested in 2013 for €43 millions. 

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(Fr)

Ascométal reprend l’aciérie de Vallourec à Saint-Saulve

Le groupe français Ascométal (qui représente 580 emplois en Lorraine) va reprendre l’aciérie de Vallourec à Saint-Saulve (Nord). 100 % des 350 salariés de cette unité de production ultra-moderne seront conservés.

La reprise était dans les tuyaux depuis de longs mois mais cette fois-ci, c’est fait : le spécialiste français des aciers longs spéciaux Ascométal (1 800 salariés dont 580 en Lorraine, automobile, pétrole) reprend l’aciérie de Vallourec à Saint-Saulve. Selon des documents que le Républicain Lorrain a pu consulter l’opération est désormais conclue entre le géant mondial des tubes sans soudure, victime de l’effondrement des cours du pétrole, et la société reprise par Frank Supplisson, ancien directeur de cabinet d’Eric Besson à l’Industrie, en mai 2014, au nez et à la barbe d’un autre géant, le Brésilien Gerdau.

Tous les salariés gardés

Selon nos informations, 100 % des 350 salariés de l’aciérie seront conservés par Ascométal, qui était sur les rangs depuis le printemps dernier. Plusieurs émissaires techniques d’Asco Industries avaient évalué concrètement la faisabilité de l’opération surveillée de très près par Bercy et son hôte Emmanuel Macron. Soucieux d’éviter la casse sociale dans le Nord, le ministre de l’Économie a toujours gardé un œil sur l’avenir du site de Vallourec où il s’est même déplacé au printemps dernier.

Plusieurs repreneurs étrangers avaient marqué leur intérêt, mais Ascométal a rapidement tenu la corde. Il faut dire que l’aciérie nordiste est une aubaine pour l’ex-pépite de feu Usinor, au bord du gouffre, en redressement judiciaire il y a encore 18 mois. Saint-Saulve est un site moderne, rénové en 2012 et qui peut permettre à Ascométal d’y fabriquer les billettes de coulée continue pour le roulement aujourd’hui importées de Chine par l’aciériste. Dans le plan d’Ascométal, ces billettes alimenteront le train à fil de Fos-sur-Mer mais également celui du néerlandais FN Steel, avec lequel il discute activement d’un partenariat industriel.

Ce lundi, Ascométal avait annoncé qu’il augmentait sa trésorerie de 72 millions d’euros, via notamment une augmentation de capital et des cessions d’actifs. Cet accord comprend une augmentation de capital de 11 millions d’euros afin de « renforcer les fonds propres » du groupe et une réduction de 19 millions d’euros de sa dette. Actionnaires et créanciers ont également autorisé Ascométal à procéder à la cession des centrales hydroélectriques au fil de l’eau, situées dans l’Isère, d’une valeur de 48 M€. Ascométal va également vendre des actifs immobiliers non utilisés pour un montant total de 12,5 millions d’euros.

Source:

http://www.republicain-lorrain.fr/france-monde/2015/12/02/ascometal-reprend-l-acierie-de-vallourec-a-saint-saulve

Credit Photo @ Le Figaro

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Corporation, a wholly owned operating subsidiary of Ampco and a leading producer of forged and cast engineered products for the worldwide steel and aluminum industries. The base purchase price of $80 million (which is subject to certain post-closing adjustments) is payable $30 million in cash, $30 million in the form of a three-year note, and $20 million in shares of Ampco-Pittsburgh common stock. The stock portion of the consideration is subject to certain transfer and other restrictions. It is expected that this acquisition will be immediately accretive. The closing of the transaction, which is expected to occur in the first quarter of 2016, is subject to regulatory filings and closing conditions.Åkers AB has been a leader in the production of cast and forged rolls since 1806 and has a strong presence in the industry with sales and technical support that span the globe. Manufacturing facilities are located in Europe, North America, and China.

“The acquisition of Åkers is a significant step in Ampco-Pittsburgh’s ongoing diversification and growth. This strategic move complements and strengthens what customers have come to expect from Union Electric Steel — high-performance products, technical service, responsiveness, and reliability. Åkers’ manufacturing facilities will expand Ampco-Pittsburgh’s global footprint and position Union Electric Steel to offer a complete product offering to better serve customers in every region of the world,” commented John Stanik, Ampco-Pittsburgh’s Chief Executive Officer.

Fredrik Strömholm, Partner at Altor Equity Partners and Member of the Board of Directors of Åkers, stated, “We believe that Åkers has a bright future with Ampco-Pittsburgh Corporation, and we look forward to being a part of this next step in the long history of Åkers.”

Ampco-Pittsburgh will host a conference call with the investment community to discuss the announcement on Friday, December 4^th at 10:00 a.m. EST. If you would like to participate in the conference call, please register at www.ampcopgh.com or dial-in using the information below. The conference ID is: 94581406.

Live Event Dial-In Details:

• Participant Toll-Free Dial-In Number: (877) 267-7197
• Participant International Dial-In Number: +1 (330) 968-0666

To ensure timely access, participants should dial-in approximately 10 minutes before the call starts. A listen-only webcast will be available on Ampco-Pittsburgh Corporation’s website at www.ampcopgh.com.

A replay of the conference call will be available until December 18, 2015, on Ampco-Pittsburgh Corporation’s website atwww.ampcopgh.com.

About Ampco-Pittsburgh Corporation

Ampco-Pittsburgh Corporation, through its operating subsidiaries, is a leading producer of forged and cast rolls for the worldwide steel and aluminum industries as well as ingot and open die forged products for the oil and gas, aluminum, and plastic extrusion industries. It is also a producer of air and liquid processing equipment, primarily custom-engineered finned tube heat exchange coils, large custom air handling systems and centrifugal pumps. Ampco-Pittsburgh Corporation operates manufacturing facilities in the United States and the United Kingdom, with sales offices in the United States, United Kingdom, and Belgium. Corporate headquarters is located in Carnegie, Pennsylvania.

About Åkers

Åkers AB is a leading producer of cast and forged rolls for the steel and aluminum industries. The company was founded in 1580 and roll production commenced in 1806. The company is headquartered in Åkers Styckebruk, Sweden.

About Altor

The Altor Funds (Altor) are private equity funds. Altor is advised by Altor Equity Partners. Altor invests in companies in the Nordic region with a focus on value creation through growth initiatives, strategic development, and operational improvements.

Advisors

William Blair and Strata Advisory AB acted as the financial advisors in connection with the pending acquisition of Åkers AB. K&L Gates LLP acted as lead outside legal counsel to Ampco-Pittsburgh with Setterwalls Advokatbyrå AB acting as local transaction counsel in Sweden.

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CFHI is China’s largest nuclear forging manufacturer by annual output. It accounts for about 90 % of the domestic nuclear forgings and 80 % of the pressure vessels for nuclear reactors (on photo  CPR1000 steam generator, credit photo @ CFHI)

China First Heavy Industries Co and Harbin Electric Corp have rubbished media reports of apossible merger between the two State-owned firms. Shanghai-based China Business Weekly, quoting people close to the matter on Tuesday,said that CFHI and Harbin Electric were close to a possible marriage. Moreover, a work reportof the government of Qiqihar, a city in Heilongjiang province where CFHI is based, publishedin a local newspaper said that “the government will fully support the merger of CFHI andHarbin Electric Corp and the reform of State-owned enterprises”. Harbin Electric is headquartered in Harbin, the capital Heilongjiang province. Following the reports, CFHI had sought suspension in the trading of its shares onWednesday. On Thursday, its shares rose by 2.76 percent to 7.07 yuan ($1.07). Both companies released statements clarifying that they have never received any notice fromtheir supervising governmental organs about a possible merger. CFHI and Harbin Electric are among the 53 key State-owned enterprises directly controlled bythe central authorities, when it comes to concerning national security and the lifelines of thenational economy.

CFHI is China’s largest nuclear forging manufacturer by annual output. It accounts for about 90 percent of the domestic nuclear forgings and 80 percent of the pressure vessels for nuclear reactors. Its products are also used in metallurgy, transportation, mines andpetrochemical engineering. Harbin Electric is one of the few companies in the world that is able to independently build thecore equipment for nuclear power plants. Its products are widely used in coal-fired, hydro,nuclear and wind power plants. If the restructuring is successful, the newly formed company will become one of the threeleading companies in equipment manufacturing in China, said Du Pu, an analyst withShenwan Hongyuan Securities Co.

The other two are Chengdu-based Dongfang Electric Corp and Shanghai Electric Group CoLtd.

According to Du, a CFHI and Harbin Electric merger would create a strong power generationequipment research and development base and provide new growth momentum.

“The two companies have complimentary advantages in equipment manufacturing for nuclearand conventional islands. Once merged, they could undertake whole nuclear equipmentprojects. They may form new growth points and increase the new company’s competence innuclear island equipment building in the international market,” said Du.

“2016 will see restructuring of a lot of State-owned enterprises, in line with China’s currentefforts in streamlining resources in search of a more efficient growth model,” Du said.

Major State-owned enterprise restructuring in 2015 included CSR Corp and CNR Corpmerging to become CRRC Corp in March 2015.

China Power Investment Corp and State Nuclear Power Technology Corp merged to becomeState Power Investment Corp in May 2015.

yangziman@chinadaily.com.cn

Source :

http://www.chinadaily.com.cn/bizchina/2016-01/15/content_23100397.htm

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Voestalpine steel buys two specialty steel firms. With the purchase of Advanced Tooling Tek (ATT) in Shanghai, China, and the Sermetal Group in Barcelona, Spain, Voestalpine is enhancing its position as a producer of special steels. Both companies are specialized in the processing and sale of special steel products for tool and mold-making, a segment whose main customers are the automotive and electronics industries. Together ATT and the Sermetal Group have around 160 employees and generated a total revenue of around EUR 43 million in 2015. Just half a year ago the Voestalpine AG’s Metal Forming Division opened a new plant for production of high-strength automotive components in Shenyang, China. Now the Special Steel Division is taking over its long-term Shanghai-based sales partner ATT, marking the next stage in the Group’s expansion in the Chinese market. ATT has a staff of around 100 employees and generated revenue of around EUR 16 million in 2015. One of the most important product segments served by this special steel sales and processing specialist is large injection molds which are used in the automotive industry for the manufacture of plastic parts such as headlights.

The products are also sold to the electronics industry.

The second acquisition made by the Special Steel Division was in Europe, with the purchase of the four sales and service sites belonging to the Sermetal Group in Spain and Portugal. Sermetal is the market leader on the Iberian Peninsula in plastic mold steel for the automotive industry, and generated with its 60 employees revenue of around EUR 27 million in 2015.

„The ATT and Sermetal acquisitions are in line with our strategy of focusing growth in the expanding mobility sector and consistently extending the value chain towards the end customer. The new sales and service centers bring voestalpine even closer to its customers, and enable the Group to offer high-tech finishing as well as complete products in special steel. At the same time, the acquisitions further enhance our global market leadership in tool steel for sophisticated applications.“

Voestalpine AG’s Special Steel Division is focused on technologically sophisticated materials and customer-specific services.

Due to its unique sales and service network at 150 sites around the world it offers customers material availability and processing as well as local points of contact.

The division is a global market leader for tool steel and one of the leading providers of high-speed steel, valve steel, and special forgings.

The most important customer segments are the automotive, oil and natural gas exploration, and mechanical engineering industries as well as the consumer goods and aerospace industries.

In the business year 2014/15, the division reported revenue of around EUR 2.8 billion, of which 40% was generated outside Europe, and an operating result (EBITDA) of EUR 407 million; it had around 13,500 employees worldwide.

Source :

https://www.friedlnews.com/article/voestalpine-acquires-specialty-steel-firms-in-shanghai-and-barcelona

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Kako je s kupnino za podjetje ORO MET, ki jo bo direktor hčerinske družbe Slovenske industrije jekla Ravne Steel Center Boštjan Taljat tako rekoč plačal tudi sam sebi kot enemu nejvečjih lastnikov, nam niso povedali. Če nič drugega, pa je kupljena družba hitro rastoča in dobičkonosna. Slika je s tiskovne konference po nakupu, z leve direktor ORO MET Jernej Pavlin, direktor SIJ za poslovni razvoj in strategijo Mitja Kolbe ter direktor korporativnega komuniciranja SIJ Denis Mancevič. (Credit Photo @ Jure Makovec)

SIJ – Slovenska industrija jekla oziroma njena hčerinska družba Ravne Steel Center je kupila 51-odstotni delež pivške družbe ORO MET. To podjetje je že doslej sodilo med kupce družbe SIJ, pri izdelavi orodnih plošč za orodjarne namreč uporablja specialna jekla Metala Ravne, hčerinske družbe SIJ. ORO MET je imel doslej štiri lastnike, tri posameznike (med njimi je bil največjiJanez Suša z 39-odstotnim deležem) in družbo HTS IC s 40-odstotnim deležem. Največji, skoraj 65-odstotni lastnik HTS pa je bil Boštjan Taljat, ki je hkrati tudi direktor družbe Ravne Steel Center, hčerinske družbe SIJ. Po neuradnih navedbah časnika Dnevnik naj bi Taljatova družba HTS IC za ORO MET prejela blizu šest milijonov evrov kupnine, Janez Suša pa le 812 tisoč evrov, česar vpleteni niso komentirali. Tudi direktor korporativnega komuniciranja v skupini SIJ Denis Mancevič na naša vprašanja o kupnini ni želel odgovarjati. Ravne Steel Center naj bi v prvi fazi lastnikom plačal 51 odstotkov kupnine, preostalih 49 odstotkov bodo v skladu z opcijsko pogodbo dobili v štirih do osmih letih.

ORO MET je hitro rastoče podjetje s 65 zaposlenimi, ki večino prihodkov ustvari v Nemčiji. »Lani smo prihodke v primerjavi s predlanskim povečali za 30 odstotkov, na 11,7 milijona evrov, čisti dobiček pa za 15 odstotkov. Letos smo imeli v prvih mesecih 10-odstotno rast prodaje glede na isto obdobje lani. Vsako leto investiramo prek milijon evrov in upamo, da bo tako tudi z novim lastnikom. Računamo, da nam bo s svojo prodajno mrežo odprl pot do novih kupcev,« je povedal Jernej Pavlin, direktor družbe ORO MET. Podjetje je predlanskim ustvarilo 620 tisoč evrov čistega dobička, lani so imeli 16-odstotno maržo EBITDA.

Source :

http://manager.finance.si/8844090

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May 20 Brazilian steelmaker Gerdau SA said on Friday it sealed a deal to sell its specialty steel unit in Spain to Clerbil SL for 155 million euros, with a potential of receiving an additional 45 million euros depending on future performance. The deal is expected to be finalized in July, the company said in a securities filing.

Gerdau S.A. announces today the completion of a definitive agreement to sell its company producer of specialty steel in Spain for Clerbil SL, investment group with international experience formed by local executives of the Company, led by the current CEO of the operation, José Jainaga. The transaction value is € 155 million, with the possibility of receiving up to € 45 million additional by the end of five years, depending on future business performance.”Faced with the global challenges of the steel industry, we are seeking to generate more market value and increase the competitiveness of our operations, keeping debt levels under control. In this context, the sale in Spain is being held so that Gerdau can focus on more profitable businesses. I would also like to thank our local team commitment to face the challenging time experienced across the world steel market, “says chief executive (CEO) of Gerdau, André B. Gerdau Johannpeter.The company, which will again operate under the brand Sidenor, has factories in the Basque Country, Cantabria and Cataluña and commercial offices in Germany, France, Italy and the United Kingdom. The company’s installed capacity is one million tonnes per year and provides special steels for various sectors of the economy, especially for the automotive industry. In addition, the company owns one of the largest centers of research and steel industry development in Europe, being a reference in the development of new technologies in the production of steel. Sidenor and Gerdau will continue collaborating with the development of new products of steel, particularly for the automotive industry.The transaction is expected to be completed by July, subject to analysis of the competition authorities of Spain.Porto Alegre, May 20, 2016. Harley Lorentz Scardoelli Executive Vice-President Investor Relations Officer

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