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Daily news and top headlines for manufacturing professionals

ArcelorMittal Increases Stake In Australian Coal Miner

June 30, 2008 5:10 am | News | Comments

World's largest steelmaker increased its stake in Macarthur Coal to just under 20 percent, days after talks on a possible takeover ended without a deal.

Chinese Steelmakers Combine As Demand Rises

June 30, 2008 5:04 am | by Joe McDonald, AP Business Writer | News | Comments

Two steel companies combined to form the world's fifth-largest producer, the latest in a series of government-orchestrated deals aimed at creating globally competitive suppliers.

High Prices Boost Maine’s Metal Scrap Business

June 26, 2008 8:00 am | News | Comments

Metal prices, driven up by increased demand in domestic and overseas markets combined with a shift in the scrap supply chain, has ignited a boom in the scrap business.

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Severstal: Esmark Has Untapped Potential

June 26, 2008 7:19 am | by Vicki Smith, Associated Press Writer | News | Comments

COO Gregory Mason says the plants and equipment have never realized their full potential, but Severstal will invest $250 million over five years to make sure they do.

Australia Has 90 Days To Decide Murchison Stake

June 26, 2008 5:22 am | by Rod McGuirk, Associated Press Writer | News | Comments

Government will decide within three months whether to allow China's Sinosteel to increase its stake in Australian iron ore miner Murchison Metals.

OAO SeverStal To Buy Esmark For $1.25B

June 25, 2008 12:45 pm | News | Comments

Essar Steel Holdings had been battling Russia's OAO Severstal to acquire Esmark.

Aluminum Fluoride Producers Fined For Price Fixing

June 25, 2008 6:45 am | News | Comments

European Union regulators fined five companies that produce aluminum fluoride $7.74 million Wednesday for running a cartel.

Alcoa Considering Stake In Vietnam Refinery

June 25, 2008 5:16 am | News | Comments

Aluminum producer will look into buying a 40 percent stake in a refinery project with a state-owned minerals development company in Vietnam.

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Production Costs Pressure Nissan To Raise Prices

June 25, 2008 5:10 am | by Yuri Kageyama, AP Business Writer | News | Comments

Japan's third-biggest automaker will likely raise prices for its vehicles in the Asian nation as the cost of steel and other raw materials soar.

USW Gets Esmark Bid Extension

June 25, 2008 5:00 am | News | Comments

Steelmaker and distributor says it's giving the United Steelworkers until Thursday to organize a buyout bid for the company.

Baosteel To Nearly Double Iron Ore Prices

June 23, 2008 9:53 am | by Joe McDonald, AP Business Writer | News | Comments

China's biggest steel producer agreed to price hikes of up to 96.5 percent with iron ore supplier Rio Tinto amid surging demand for tight metal supplies.

Kaiser Aluminum To Expand Tennessee Plant

June 23, 2008 5:15 am | News | Comments

Aluminum products maker said Monday its board approved a $19 million expansion at its Tennalum unit's facility in Jackson, Tenn.

Planned Upgrades To U.S. Steel Plant Raise Concern

June 20, 2008 5:20 am | News | Comments

Residents near a U.S. Steel plant want assurances that the company's planned $1 billion upgrade will reduce air pollution while also hoping it strengthens steelmaking.

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Russia's Severstal Cranks Up Pitch For Esmark

June 19, 2008 12:30 pm | News | Comments

Severstal's $670 million offer has the support of the United Steelworkers union.

Esmark, USW Head To Arbitration Over Sale

June 18, 2008 6:50 am | News | Comments

Grievances have been filed by both Esmark and the union over the proposed sale to India's Essar Steel Holdings.

Severstal Criticizes Esmark’s Tactic To Avoid Takeover

June 17, 2008 6:00 am | News | Comments

Russian steelmaker says it's disappointed in a tactic being used by West Virginia-based Esmark to stave off a $650 million takeover bid.

Arcelor Buys Bayou Steel For $475 Million

June 16, 2008 7:25 am | News | Comments

World's largest steelmaker said it will buy Louisiana's Bayou Steel for $475 million and had increased its stake in the Turkish steel company Erdemir to 25 percent.

Brazil Fines Steel Companies $250M

June 12, 2008 12:10 pm | by Marco Sibaja, Associated Press Writer | News | Comments

Steel companies caught using charcoal made from illegally logged forests face $250 million in fines and must replant about 27,181 acres of forest.

Esmark Rejects Russian Takeover Bid

June 12, 2008 12:00 pm | by Vicki Smith, Associated Press Writer | News | Comments

Steel producer and distributor rejected a $670 million takeover offer from Russia's OAO Severstal, calling the bid inadequate and inferior.

Northwest Pipe Plans New Facility

June 12, 2008 6:26 am | News | Comments

Welded steel pipe maker said it will build a new tubular products pipe manufacturing facility in the Houston area.

Merger Could Create Chinese Steel Powerhouse

June 12, 2008 5:12 am | News | Comments

Tangshan Iron & Steel and rival Handan Iron & Steel have begun talks to combine operations in a deal that would create one of China's biggest steelmakers.

Essar Raises Esmark Offer

June 11, 2008 6:35 am | News | Comments

India's Essar Steel Holdings has raised its offer for Esmark Inc. by $80 million, which puts the value of the deal at approximately $750 million.

Violent Protest At Indian Steel Plant Injures 15

June 11, 2008 5:55 am | News | Comments

Police used batons and tear gas to disperse angry villagers trying to storm a steel plant in eastern India in a protest over land compensation, officials said Wednesday.

Kazakhstan Increases Role In Country’s Metals

June 10, 2008 7:40 am | by Peter Leonard, Associated Press Writer | News | Comments

Prime Minister's office said it has become a major stake-holder in the mineral-rich country's two biggest metal companies after a share swap deal.

Sinosteel Purchases 40 Percent Of Australia's Midwest

June 6, 2008 5:03 am | News | Comments

China's Sinosteel increased its stake in Australian miner Midwest Corp., increasing its chances of spoiling a rival bid for Midwest from Murchison Metals.

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