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.
A legislator wants a chunk of the collapsed interstate bridge to remind him of the dangers of neglected infrastructure. Survivors have sought the crumpled steel as mementos of that deadly day in Minneapolis six years ago on Thursday. Civil engineering instructors and historians see value in the wreckage, too.
Fives has announced its acquisition of MAG Americas by bringing onboard three more of its brands — Cincinnati, Giddings & Lewis and Forest-Liné. The company says its recent purchase will help it strengthen its position in aerospace, renewable energy and mining equipment by increasing its capacity to manufacture the high-precision machine tools used to manufacture complex or high-performance equipment.
Tailored to the skill sets required for tool and die makers and various spring coiler setup operations, CSS’ program replaces formerly state-funded training for skilled manufacturing workers. A diverse group of eleven people are currently enrolled in the program, including five minorities and two women.
The ExOne Company has announced that it is adding iron infiltrated with bronze as a new 3D printing material, in addition to an increase in its suite of binder solutions for its 3D printing process. The company hopes that its direct metal printing capabilities will increase opportunities in the industrial marketplace.
Germany's antitrust regulator said Tuesday that it has fined eight companies a total of 97.6 million euros ($129 million) for colluding on orders for railway tracks and related products.ThyssenKrupp GfT Gleistechnik GmbH, a unit of steelmaker ThyssenKrupp AG, was hit with the biggest single fine.
The government expects loan recipients "to purchase steel, iron and other manufactured goods produced in the United States for their projects," LaHood wrote in the two-page letter to the company, which was released by the agency Tuesday.
The survey found that almost half of the nearly 900 executives surveyed are still in the initial stages of their compliance efforts, while 16 percent have not yet begun gathering information, and 32 percent are still determining if the rule even applies to them.
ArcelorMittal, the world's largest steelmaker, has abandoned plans for an $8.5 billion steel plant in eastern India in the second major blow this week to the government's efforts to lure foreign investment. Its decision came a day after South Korean steel giant Posco dropped plans for a steel plant in southern Karnataka state.
South Korean steel giant Posco has pulled out of a proposed $5.3 billion steel plant in the southern Indian state of Karnataka in a new blow to government efforts to attract foreign investment to spur growth. The company said Tuesday it scrapped the project because of inordinate delays stemming from local opposition to land acquisition for the project.
Schumer was responding to criticism over the MTA's announcement that it would be using steel from Angang Steel (Ansteel) Group to make repairs along the Verrazano-Narrows Bridge. Schumer said China heavily subsidizes its steel industry, which makes Chinese steel artificially cheap and allows them to undercut American competitors by up to 25 percent.
Advanced Clean Air Technologies Global (ACAT Global), manufacturer of lightweight and efficient catalytic converter substrates, is joining a partnership of regional educators, manufacturers and representatives of state veterans and apprenticeship groups to train a new generation of workers for careers in advanced manufacturing technology.
Aluminum giant Alcoa said Friday that it will close a smelting facility in Italy, its latest move to trim costs as it grapples with lower aluminum prices. Alcoa was already tamping down production at the Fusina smelter in Venice, Italy, three years ago, citing weak aluminum prices and the need to stay competitive.
Regulators say the miners have continued to scrape valuable ore from a ridge about 45 miles east of the state capital even though two of the operators also face criminal charges in El Dorado County. Joseph Hardesty and Rick Churches have another court appearance set for Friday.
Timken Co. said Monday it has formed a strategy committee to consider separation of steel business from its bearings businesses. The committee is made up Joseph Ralston, who will serve as chair of the panel, and the other eight independent and non-Timken family members of the board of directors. Goldman Sachs will assist the committee in its evaluation.
A group led by South Korean steelmaker POSCO and China Steel Corp. had entered into a joint venture that owns ArcelorMittal iron ore mining and infrastructure assets in Quebec. The deal was originally announced in January. ArcelorMittal, which is based in Luxembourg, still owns 85 percent of the joint venture.
Prosecutors allege in the order Wednesday that the real estate, stocks and other financial assets belonging to the Riva family were obtained through the misuse of funds belonging to the Ilva steel plant. Brothers Emilio and Adriano Riva, founders of the company that owns the plant, are currently under investigation for fraud.
An official notice Tuesday said mills in Hunan province's Youxian county were ordered to suspend business and recall their products after samples showed excessive cadmium levels. It said the mills had been operating legally and sourced their rice from local farmers.
ALCOA says resurgent auto manufacturing is creating demand for its aluminum products and it will expand its plant in Tennessee. The Daily Times first reported the company will create 200 new jobs with a $275 million expansion of its rolling mill in Alcoa, Tenn. Some 400 construction jobs will be created in building it.
In a heavy industry, where potential hazards are numerous, reaching one million hours of safe operation is a remarkable achievement, and it’s one that Brown attributes not only to that “big stick,” but also a dramatic shift in company culture, simply by being aware of safety down to the smallest loose cable and scratched knuckle.