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Metal Industry News
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MORE LISTINGS :
Available (241)
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AVAILABLE
Listings:
(1 - 25) of 241
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Omnisource to buy out Recycle South |
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May 09, 2008.
Steel producer Steel Dynamics Inc. says its recently acquired subsidiary Omnisource has agreed to buy the remaining interest in fellow US company Recycle South LLC in a cash and stock deal valued at about US$370 million to expand its recycled metals business.
Recycle South equity owners will receive about 3.9 million Steel Dynamics shares, which the company valued at about US$138 million, and US$232 million in cash. The companies value the deal at US$500 million, which includes US$135 million in debt and other liabilities. ... more
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Steinert expands metal recycling network to Japan |
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May 06, 2008.
The Steinert Group from Germany has signed contracts with its current Japanese sales partners regarding the establishment of Steinert Japan, a new joint venture in which magnetics manufacturer Steinert GmbH has a majority holding. This first full sales meeting of the Steinert Global Group in the United States also provided an opportunity to swap ideas on national markets and take important strategic decisions for the future, particularly with regard to internal communications and worldwide marketing. ... more
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South Africa's metal recyclers under scrutinity |
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May 07, 2008.
The Competition Commission in South Africa is pursuing an investigation into Cisko, SA Metal & Machinery Company, and National Scrap Metal for price fixing and collusion in the scrap metal market, following the New Reclamation Group’s agreement to pay a fine of US$ 18.5 million for its part in price fixing. ... more
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BIR's latest Non-Ferrous World Mirror |
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May 07, 2008.
The following article is based on the latest Non-Ferrous World Mirror produced by the BIR world recycling body for the benefit of its members.
China has grown accustomed to a spring-time improvement in market conditions but demand has remained relatively flat in the early weeks of second-quarter 2008. Analysts blame a combination of factors, including: commodity prices reaching historical peaks; a slow-down in cash-flow; and government measures to control inflation. ... more
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Novelis invests to expand German facility |
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May 05, 2008.
Germany Aluminium producer and recycler Novelis Inc will invest 11 million Euro (US$17.2 million) to expand production capacity at its plant in Nachterstedt, Germany, in response to growing demand in the automotive and beverage can end markets in Europe.
The investment will increase the output and flexibility of the plant's continuous annealing and lacquering line. The additional finishing capacity will become available during the first quarter of 2009. ... more
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GMS responds to EPA investigation |
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May 05, 2008.
There is "no proof" that Global Marketing Systems Inc. or Global Shipping LLC allowed a vessel with anything that violated the federal Toxic Substances Control Act to set sail. That's the opinion of GMS which is one of the world's largest scrap ship buyers and brings them to Asian countries to get them dismantled.
... more
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Greenstar, NTR to invest $300M in new operations |
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May 06, 2008.
Greenstar North America and its Irish parent, NTR plc, plan to invest US$300 million in solar, wind and single-stream recycling capabilities in 2008.
The new investment will give Houston-based Greenstar, a processor of recyclables, a recycling capacity of more than 1 million tonnes a year by the end of 2008. Currently, its single-stream processing capacity is 500 000 tons a year. ... more
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Metalico secures US$ 100 million |
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April 28, 2008.
Ferrous and non-ferrous metal recycler and lead fabricator Metalico Inc says it has entered into a definitive purchase agreement with institutional accredited investors to raise US$ 100 million of gross proceeds in a private placement of 7% notes which are convertible into shares of Metalico's common stock and warrants which are exercisable for shares of Metalico's common stock. ... more
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Kilsta Metall AB acquires facility in North Sweden |
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April 23, 2008.
Swedish metal recycling specialist Kilsta Metall AB has acquired the environmental and recycling company Ragn-Sells AB's metals processing facility in Norrkoping, Sweden.
The acquisition price was not disclosed. The 10,000-square metre facility has some 10 employees and achieved a turnover of approximately SEK50 million (US$ 8.5 million) in 2007. ... more
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US Air Force sells 2000 aircraft for scrap |
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April 21, 2008.
The government in the United States is getting ready to sell off part of one of Tucson, Arizona's more unusual tourist destinations - the aircraft "boneyard" at Davis-Monthan Air Force Base. The Aerospace Maintenance and Regeneration Center in southern Tucson is home to roughly 4,200 C-141 Starlifters, A-4 Skyhawks,HH-3E "Jolly Green Giant" helicopters and many other aircraft, which have been retired from military service. So it is auctioning off for scrap about 2,000 aircraft, weighing about 27 million pounds. ... more
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IISI: BRIC countries top steel makers in 2008 |
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April 16, 2008.
The International Iron and Steel Institute (IISI) forecasts 2008 will still be another strong year for the steel industry with apparent steel use rising from 1,202 million metric tonnes (mmt) in 2007 to 1,282 mmt in 2008, an increase of 6.7%. New projections for 2009 suggest a global growth rate of 6.3%. ... more
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Ship scrapping regulations set for overhaul |
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April 15, 2008.
Global | The Marine Environment Protection Committee of the International Maritime Organization reports that it has made 'substantial progress' in developing the draft text of the International Convention for the Safe and Environmentally Sound Recycling of Ships. This new convention will provide globally applicable ship recycling regulations for international shipping and for recycling activities. ... more
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EcoTowerSort combines sorting steps |
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April 08, 2008.
The newly-introduced EcoTowerSort metal sorter saves on space thanks to its unique ‘double-decker’ design, according to manufacturer Toratec GmbH.
Capable of sorting all metals including stainless steel, the machine’s width range varies from 600 to 3000 mm while further decks can be added to the system. ... more
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New Reclamation Group fined US$ 18.75 million |
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April 08, 2008.
The Competition Commission in South Africa has imposed a 146 million Rand (US$18.75 million) ‘administrative penalty’ on one of the major South African scrap metal companies, New Reclamation Group (Reclam), for its involvement in collusion and price-fixing in the ferrous and non-ferrous scrap metal markets. The company, which also processes cardboard, paper, glass and plastic, has 24 months to pay the penalty, in three instalments. The settlement of Johannesburg based Reclamation, is the largest of an administrative penalty in both real and percentage terms in South Africa. ... more
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Hydro to invest Euro 14 million in recycling |
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April 07, 2008.
Aluminium producer Norsk Hydro will invest Euro 14.3 million in a new aluminium recycling furnace in Germany, with an output capacity of 50 000 tonnes per year.
The twin-chamber furnace will be part of a new recycling center at Alunorf, a joint venture between Hydro and Novelis in Neuss, Germany.
Alunorf has applied to local authorities for permission to build and operate the new facility alongside the existing complex for aluminium rolling and remelting, the world’s largest of its kind. ... more
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IL Recycling acquires Kopparbergs |
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April 07, 2008.
One of Sweden’s major recycling and trading companies, IL Recycling AB, has acquired Kopparbergs Skrot och Metall AB, another leading steel scrap and metal recycling companies in Central Sweden. IL Recycling, which is headquartered in Stockholm, Sweden, bought Kopparbergs from the Einarsson family, who owned the company since 1949.
... more
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Greendock unveils ambitious ship dismantling plans |
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April 02, 2008.
Netherlands-based Greendock BV says it is preparing to invest up to 175 million (US$ 265 million) in Thailand within five years to build an environmentally friendly ship-dismantling facility, the first of its kind in the world.
The facility is expected to handle 700 used vessels out of a global fleet of 40,000 waiting to be demolished every year. These ships have been used for 25 years or more and are now being retired. ... more
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BIR Non Ferrous World Mirror March |
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April 03, 2008.
The following article is based on the latest Non-Ferrous World Mirror produced by the BIR world recycling body for the benefit of its members.
The power shortages endured in South Africa since the latter part of 2007 are impacting directly on industrial enterprises. For example, BHP Billiton has announced the closure of two potlines at its Bayside aluminium plant, with the result that capacity will fall from 194 000 tonnes to 102 000 tonnes per annum. With smaller capacity reductions at Hillside and Mozal (Mozambique), the company is effectively cutting production by some 10% across the three plants. Also affected is Rio Tinto Alcan’s proposal to invest US$ 2.5 billion in an aluminium smelter at COEGA. ... more
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New aluminium recycling venture in China |
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March 24, 2008.
A US company called China Direct has launched a new venture to recycle aluminium powder in China. The firm owns controlling stakes in a diversified portfolio of Chinese entities and assists Chinese businesses in accessing the US capital markets.
The new venture, named CDI Recycling, will be 83.3% owned by CDI Shanghai Management Co, Ltd, a wholly owned subsidiary of China Direct and will expand China Direct's clean technology division
China Direct will contribute US$352 000 in the form of working capital to construct recycling facilities with an annual recycling capacity of 1 000 metric tonnes of aluminium powder. ... more
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Lack of shipbreaking forces Bangladeshi mills to close |
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March 20, 2008.
The high price and scarcity of raw materials have forced around 100 of Bangladeshi’s steel re-rolling mills to close in the past two years, with the loss of tens of thousands of jobs, according to industry leaders. The crisis has been caused by increased global demand for scrap metal and the decline in the country's ship breaking business, one of the key suppliers of scrap to the local mills. ... more
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Alter Trading plans Hong Kong office |
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March 18, 2008.
US scrap processor Alter Trading will open an office in Hong Kong. The intent is to increase the company’s current business in China and focus on expansion of other markets in the Pacific Rim. Alter will retain its representative office in Shanghai, China.
Robin Cai, formerly of Alter’s Shanghai representative office, will manage the Hong Kong facility, which will be known as Alter Metal Recycling Hong Kong Limited. With offices in the North Point area, Alter will further centralize its marketing and trading activities in the region. ... more
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Hydro invests in Taiwan remelt plant |
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March 18, 2008.
Aluminium producer Norsk Hydro will purchase a 45% stake in Taiwanese aluminium re-melt plant Famco, which will have an initial annual production of around 75,000 metric tonnes of extrusion ingot. The plant is expected to be in operation by the end of this year, the company from Norway adds. ... more
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Daniel Dienst new global CEO of Sims |
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March 17, 2008.
Sims Group Ltd boss Jeremy Sutcliffe has stepped down from the Chief Executive role after the world's largest scrap metal recycler finalised a US$1.6 billion (Euro 1.3 billion) merger with US-based Metal Management Inc.
Mr Sutcliffe, who has been the chief executive of Australia's Sims for the past six years, will remain as an Executive Director of the company until at least October 2009. ... more
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New mega-batch feeder for US Shredder |
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March 10, 2008.
The US Shredder and Castings Group has designed and supplies the heaviest batch feeder for the scrap and shredder industry, the company from Brookhaven Mississippi claims. The batch feeder was originally designed for a recent installation that processes mined auto shred fluff, however; there are many applications for the feeder in the scrap industry. ... more
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Scholz AG expands in USA and Poland |
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March 10, 2008.
Liberty Iron & Metal Holdings and its German parent Scholz AG have undertaken a new joint venture in the USA. The two companies have taken equity positions in Mercer Co., which runs operations at Sharon (Pennsylvania) and Girard (Ohio), as well as in Niles Iron & Metal LLC which operates two facilities at Niles, Ohio. According to a statement from Scholz, Fred Knox of Mercer Co and Gary and Michael Clayman of Niles Iron & Metal will hold equity positions within the newly-formed LNM Holdings LLC. ... more
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