Swiss prosecutors confirmed Wednesday that a criminal investigation has been opened against one of the world's largest processors of precious metals over allegations that it laundered gold obtained through war crimes.
After the Big River Steel mill was announced in January, Nucor Steel asked legislators to vote against providing $125 million in financing, which wound up passing easily. Now Nucor has filed lengthy objections with the Arkansas Department of Environmental Quality and the U.S. Environmental Protection Agency.
After decades of outsourcing, the resurgence in domestic manufacturing is now America’s favorite comeback story. Factors that once drove companies overseas — including labor and energy costs — are no longer considered insurmountable obstacles. Yet one troubling trend could signal a major complication for returning manufacturers: our nation’s increasing reliance on unstable supply chains of imported minerals.
U.S. Steel Corp. is shutting down its iron and steelmaking plant in Hamilton, Ontario, by year's end as part of a bid to cut costs. President and chief executive Mario Longhi made the comments on a conference call with analysts on Tuesday.
Republican Gov. John Kasich is facing criticism over the indefinite shuttering of Ormet Corp., an aluminum smelting giant along the Ohio River and the onetime largest customer of American Electric Power. About 1,000 workers — mostly unionized steelworkers — are out of work.
While Forest City Gear has the classic mix of longtime and newer employees, who all bring a variety of computer knowledge and machining skills to the job, this company has consistently sought the most advanced equipment on the market, as part of its “Excellence Without Exception” motto and its practical desire to stay ahead of the competition in the global gear market.
The European Union's top court on Thursday ordered Italy to comply with a directive by the bloc's executive arm to fully reclaim 295 million euros ($400 million) of state aid payments that were made to U.S. aluminum giant Alcoa.
As with any business, a metal fabrication company is only as efficient as its management. Because of this fact, metal fabrication management is very important in acquiring shorter lead times, and is sometimes the best way to improve these lead times is by increasing the efficiency of both management and their employees.
The project, one of India's biggest foreign investments, has been mired for eight years by legal hurdles and sustained protests. As India's economy has slowed, however, some legal hurdles have been cleared in recent months, allowing the company to obtain a license to explore for iron ore.
Flow International Corporation (Nasdaq: FLOW) has today announced that it has entered into a definitive agreement to be acquired by American Industrial Partners (AIP), a North American-based private equity firm, in a transaction valued at more than $200 million.
Successful metal fabrication companies are always on a mission to improve their lead times to cut down on operating costs and to increase customer satisfaction. Many managers may try to analyze what the company does or doesn’t need, or which of the available suppliers might be cheaper and/or faster, yet provide them with their company’s specific needs without sacrificing quality in their products.
The U.S. Department of Transportation’s Federal Transit Administration (FTA) today announced a new Interagency Agreement with the U.S. Department of Commerce’s National Institute of Standards and Technology (NIST) that will make it easier for manufacturers and transit agencies to identify domestically made products, such as rolling stock and other steel and iron components that comply with FTA’s “Buy America” rules.
Headquartered in Columbus, Ohio, Laserflex will expand its South Carolina operations by moving to a new, 63,000-square-foot building in Wellford, which will increase the company’s manufacturing space by 23,000 square feet. The expansion will allow Laserflex to add a range of new operations, including machining, paint and laser tube cutting.
Gov. Bobby Jindal and Benteler Steel/Tube marked the start of construction Monday with a groundbreaking on the company's new $975 million hot rolling seamless steel tube mill in Caddo Parish. The facility will create more than 1,000 construction jobs and an estimated 675 full-time jobs when the facility is at full production capacity.
With the success of the inaugural event in 2012, FABTECH Canada will be back in Toronto in 2014, more expansive than before. The only event of its kind in this country, FABTECH Canada brings the most relevant and important information on industry standards, new products and latest technologies to the Canadian market.
Metals maker Allegheny Technologies Inc. plans to sell its tungsten materials business for $605 million to Kennametal Inc. The Pittsburgh company said Monday that the deal gives it better financial flexibility as Allegheny Technologies, or ATI, focuses on growth opportunities in its high-performance metals and flat-rolled products segments.
Complete Heat Treating, LLC has announced its acquisition of all assets and equipment of the former Wisconsin Steel Industries, Inc. With the completion of this acquisition, Complete is breaking into the commercial heat treating market in the Midwest, as the combined companies have more than 75 years of service in the metalworking industry.
I would invest training in current employees. These are the people who have helped build our company. At Miller, our average seniority is 19 years with less than two percent turnover. We believe in giving people the chance and the skills to build their careers and want to continue to see them grow.
At General Motors’ Tonawanda Engine Plant in Buffalo, N.Y., a $400 million investment in advanced manufacturing techniques will allow the company to produce 1,000 Gen 5Small Block engines daily — a 4.3L V-6, 5.3L V-8 and two variants of a 6.2L V-8.
Gov. Bob McDonnell announced Thursday that W&B Fabricators Inc. will invest $3.1 million in the operation. The company has operated in Mercer County, W.Va., for more than 24 years and provides services to major coal operators throughout Virginia, West Virginia, Kentucky and Pennsylvania.
The expansion is expected to be complete in the spring, and Service Center Metals also is adding about 20 jobs. It currently employs about about 120 people. Service Center Metals makes aluminum rods, bars and tubing used in various industries including machinery and equipment, transportation and consumer products.
TMS International Corp. said Monday that it's selling itself to members of the Pritzker family in a cash deal it valued at about $1 billion including refinanced third-party debt. Pittsburgh-based TMS provides outsourced industrial services to steel mills. It operates 81 customer sites in 12 countries, along with 36 brokerage offices from which it buys and sells raw materials.
BHP Billiton said its annual profit dived nearly 30 percent as slower growth in China and other emerging economies resulted in lower prices for copper, coal and iron ore. The mining company on Tuesday reported a $10.9 billion profit for the year ended June 30, down 29.5 percent from the previous year.
June U.S. cutting tool consumption totaled $155 million, according to the U.S. Cutting Tool Institute and AMT – The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was down 6.6 percent from May and down 12.8 percent from the June 2012 level of $195 million.
A coroner says a man has died of multiple blunt-force trauma injuries after being caught in a piece of equipment at a northeastern Indiana steel plant. Whitley County Coroner F. Randall Dellinger says 44-year-old Jeffery Flory of Albion died in the accident Monday night at the Steel Dynamics plant in Columbia City, about 20 miles west of Fort Wayne.