South Korea’s Hyundai Steel sells its Beijing unit due to sluggish sales 2023-03-22

Mar. 22, 2023 - South Korea’s Hyundai Steel decided to sell its Beijing unit because the sales were sluggish over the past year. According to the report from Hyundai Steel, the net loss of Hyundai’s Beijing unit was more than 100 billion won over the past five years. The net loss was mainly due to Hyundai Motor and its sister firm Kia decreasing their market share in China. Hyundai Steel…

U.S. Steel restarts Blast Furnace #8 at Gary Works 2023-03-20

Mar. 20, 2023 - U.S. Steel has restarted the No. 8 blast furnace at its flagship Gary Works steel mill. The Pittsburgh-based steelmaker, one of the Region's largest employers, idled both the No. 3 blast furnace at Mon Valley Works in Pennsylvania and the No. 8 furnace in Gary last year after steel prices came down from historic highs in 2021 amid fears of a looming recession. U…

Official launch of ‘POSCO Future M’, an eco-friendly future materials compa… 2023-03-20

Mar. 20, 2023 - POSCO Chemical changed its name to 'POSCO FUTURE M' and is reborn as an eco-friendly future materials company. POSCO Chemical confirmed the name change to POSCO Future M at the general shareholders' meeting held at the Pohang headquarters on the 20th, and then held a mission declaration ceremony with President Kim Joon-hyeong and other executives and staff members…

Hoffmann Green Cement Signs a Supply Contract With the Alkern Group 2023-03-16

Mar. 15, 2023 - Hoffmann Green Cement Technologies (“Hoffmann Green Cement” or the “Company”), an industrial player committed to decarbonizing the construction sector that designs and distributes innovative clinker-free cement, announces the signature of a contract for the supply of its decarbonated cements, including a volume commitment of 14,000 tons until the end of 2027, with the Al…

Huaxin Cement to acquire 60% stake in Oman Cement 2023-03-15

Mar. 14, 2023 - China-based Huaxin Cement has concluded a share purchase agreement with Omani sovereign wealth fund Oman Investment Authority (OIA) for the acquisition of a 60% stake in Oman Cement. ASDQ Financial News has reported the value of the deal as US$193m. OIA director general of private ownership Ibrahim bin Said al Eisari said "This exit comes in accordance with a plan pursued b…

CREMER ERZKONTOR opens office in India 2023-03-14

Mar. 14, 2023 - CREMER ERZKONTOR, the international raw material management company from Germany, recently opened a new subsidiary in Asia, in Chennai, India. This move gives the company a new point of contact, from which it can serve its Indian customers and suppliers even better going forward. In addition to expanding the trading business locally, the office will help with accessing new raw…

thyssenkrupp Steel selects MIDREX Flex™ for immediate CO2 emissions reducti… 2023-03-14

Mar. 13, 2023 - Midrex Technologies, Inc. and Paul Wurth will partner to engineer, supply, and construct a 2.5 million tons/year MIDREX Flex™ direct reduction plant for thyssenkrupp Steel Europe AG at its Duisburg, Germany, site. The plant will initially operate on reformed natural gas, which contains 50% or more hydrogen (H2) at the inlet to the furnace, until sufficient H2 is available…

Borregaard reports fourth quarter 2022 results 2023-03-13

Mar. 1, 2023 - Borregaard’s operating revenues reached NOK 1,770 million (NOK 1,446 million)2 in the 4th quarter of 2022. EBITDA1 increased to NOK 364 million (NOK 263 million). BioMaterials and Fine Chemicals had significant result improvements while BioSolutions had a decrease. The net currency impact on EBITDA1 was positive compared with the 4th quarter of 2021. …

Steuler relies on renewable energy in Höhr-Grenzhausen 2023-03-13

Mar. 13, 2023 - After intensive planning and preparation, the official start of the construction of a large-scale photovoltaic plant on the Steuler site in Höhr-Grenzhausen has now taken place. This is already the second plant in the Westerwald for the Steuler Group, as the company has already been generating energy from sunlight at its production site in Mogendorf since 2015. T…

IFGL Refractories Ltd starts commercial production at Precast products plan… 2023-03-13

Mar. 11, 2023 - The commercial production has been started at IFGL Refractories Ltd's new Precast products plant at its Visakhapatnam manufacturing facility, effective Friday, 10th March, 2023. Installed capacity of new Precast Products plant is 8400 MT per annum and capital expenditure incurred for building the same is about Rs 1650 lacs. Shares of IFGL Refractories Limited was last trading …

MTI China facility ranks no. 1 in Important Green Mine Selection Program 2023-03-11

Mar. 11, 2023 - Recently, MTI's Dongming, China facility ranked No. 1 amongst 28 companies in the Liaoning Province Green Mine Selection Program. Green Mine is a policy set by the China Ministry of Natural Resources to drive green mining development.  The program ranks companies based on extensive requirements that focus on: -sustainable utilization of resources -energy saving …

ArcelorMittal completes acquisition of CSP in Brazil 2023-03-10

Mar. 9, 2023 - ArcelorMittal (the ‘Company’) announces that following receipt of customary regulatory approvals it has completed the acquisition of Companhia Siderúrgica do Pecém (‘CSP’) in Brazil for an enterprise value of approximately $2.2 billion. CSP is a world-class operation, producing high-quality slab at a globally competitive cost. Its facility, located in the state of C…

CUMI launches monocrystalline alumina under brand name CUMI Monk 2023-03-09

Mar. 8, 2023 - Carborundum Universal Limited (CUMI), a leading manufacturer of abrasives, ceramics, electro minerals, refractories and more, launched a new product–CUMI Monk–at the GrindTec Fair in Leipzig, Germany. CUMI Monk or Monocrystalline Alumina is manufactured by the fusion method using speciality alumina with special additives. Each monocrystalline alumina particle is a single …

Plibrico arms customers with immediate access to technical information by p… 2023-03-07

Mar. 1, 2023 - To arm customers with immediate access to information that can answer their urgent questions, the Plibrico Company has launched an industry first, field enabling QR Code platform that will now be prominently featured on its refractory packaging. The Field Enabling QR Codes allow customers to dive deeper into valuable product details by providing information that extends well bey…

EGA reports best-ever yearly financial results 2023-03-07

Mar. 7, 2023 - Emirates Global Aluminium, the world’s largest ‘premium aluminium’ producer and the biggest industrial company in the United Arab Emirates outside oil and gas, today reported its strongest-ever financial results. EGA’s adjusted Earnings Before Interest, Tax, Depreciation and Amortisation (adjusted EBITDA) for 2022 was up 37 per cent to a record AED 12.4 billion ($3.4 …