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SAIL-ArcelorMittal Automotive Steel T...

by wireworld on 12/10/2017 - 06:58 pm
Tags: Press Releases, Projects

Union Steel Minister Chaudhary Birender Singh announced that a joint venture between steel giants SAIL and ArcelorMittal to produce high-end automotive steel will be signed soon, with about Rs15,000 crore investment.

“They (ArcelorMittal) have the technology and they are keen to have a JV with SAIL. That is at a stage where things would click within few days or within one or two weeks’ time. The JV is yet to be signed but I can say 99 per cent of the formalities have been completed,” the minister told reporters in Hyderabad.

Singh said offers have come from the Gujarat and Andhra Pradesh governments for the site of the plant, but the government favoured Andhra Pradesh due ...

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Al Ittefaq Is Looking At UAE Market A...

by wireworld on 12/10/2017 - 06:42 pm
Tag: Press Releases

Major domestic rebar producer, Al-Ittefaq Steel Products Company (ISPC) has obtained certificate from Dubai authorities in order to export rebar to UAE.

According to the company, Dubai Central Lab approved the rebar of ISPC for grades BS 4449:2005 + A3:2016 & ASTM A615:2013 Gr-60 and Gr-75. The approval opens up UAE market for the company, which is already exporting to different countries in North Africa and elsewhere after the Saudi authorities allowed rebar exports.

ISPC is the second largest steel manufacturer in Saudi Arabia, having 3 rolling mills in Dammam and 2 rolling mills in Jeddah with a combined total production capacity of 2.5 mln tons of rebar and wire rod. It has DRI-EAF ...

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Prysmian's New Challenge: The Group W...

by wireworld on 12/05/2017 - 04:51 pm
Tag: Acquisitions

Prysmian Group and General Cable Corporation have announced that they have entered into a definitive merger agreement under which Prysmian will acquire General Cable for $30.00 per share in cash. The transaction values General Cable at approximately $3 billion, including debt and certain other General Cable liabilities, and represents a premium of approximately 81% to the General Cable closing price of $16.55 per share on July 14, 2017, the last day of trading before General Cable announced its review of strategic alternatives.

The transaction, which has been unanimously approved by each company’s Board of Directors and recommended to its shareholders by General Cable’s Board of ...

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Southwire Plans Expansion in Villa Rica

by wireworld on 12/05/2017 - 04:44 pm
Tags: Press Releases, Projects

As the company continues to focus on its efforts to Accelerate Growth, Southwire will be expanding its distribution facilities in the west Georgia area. Adjacent to the company’s existing West Georgia and Retail East Customer Service Centers in Villa Rica, a new 400,000 square foot property is currently under development. 

“Looking long-term, we project that we will reach capacity in our current Villa Rica distribution facilities by 2019 or 2020,” said Kurt Hennelly, Southwire’s executive vice president of sourcing, distribution and manufacturing strategy. “The addition of this new space fits well into the future plans for our logistics network, supports ...

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