German steelmaker ThyssenKrupp AG says it is taking a €3.6 billion ($4.66 billion) hit on the value of its Steel Americas unit. The Essen-based company says the writedown follows a reassessment prompted by efforts to sell the unit's plants in the United States and Brazil.
3D printing is a technology that has, for more than a decade, seen inroads mostly in the hobbyist community. It’s expensive and slow, but is capable of producing items that are difficult — if not impossible — to replicate with more traditional processes. But 3D printing could have a real place in the future of manufacturing.
Alcoa Inc. has decided to shut down a northeastern Indiana factory after cutting hundreds of jobs there over the past decade. The company announced Tuesday that the Auburn factory will end operations in March. The factory has 25 hourly and 18 salaried workers.
Chicago Pneumatic, a quality leader in performance air tools since 1901, is announcing its new line of CP3850 industrial angle grinder and sanders which offer the highest power to weight ratio and durability in their class.
U.S. Steel Corp. is laying off 142 union workers at a Pittsburgh-area tube plant, citing unfairly traded imports as the reason. About 95 workers will keep their jobs at the McKeesport Tubular Operations plant about 10 miles southeast of Pittsburgh. Spokeswoman Courtney Boone says the company believes the supply-and-demand problem is driven largely by subsidized imports which U.S. Steel contends violate trade laws.
Congressional auditors say doing away with dollar bills entirely and replacing them with dollar coins could save taxpayers some $4.4 billion over the next 30 years. Vending machine operators have long championed the use of $1 coins because they don't jam the machines, cutting down on repair costs and lost sales.
A freak tornado struck a steel plant in southern Italy on Wednesday just days after its owners announced their intention to close what is Europe's largest steel facility. One person was reported missing and some two dozen were injured when the tornado struck Wednesday, the ANSA news agency said.
Steel maker Steel Dynamics Inc. said Tuesday it will build a new heat-treating system capable of producing 350,000 tons of steel per year at its structural and rail division facility in Columbia City, Ind. The system will be used to make steel rails for the railroad industry.
France's new government minister for industrial recovery says he wants international steel giant ArcelorMittal out of the country. ArcelorMittal infuriated many on the French left and beyond by announcing Oct. 1 that it planned to stop the furnaces at its plant in the northeastern town of Florange. It gave the French government 60 days to find a new owner.
Since 2009, a multi-stakeholder group has been working together to develop an agenda for action to address the conflict in the Democratic Republic of Congo (“DRC”) by cutting off funding from trade in conflict minerals. Recently, a petition was filed by the National Association of Manufacturers, the US Chamber of Commerce, and the Business Roundtable for judicial review of the final rule implementing Section 1502.
The steel sector jumped in Monday trading with Credit Suisse seeing a better supply landscape at the start of the year, thanks to rising demand and better prices. Domestic suppliers have grappled with weak demand because of the global economic slowdown. That situation has been worsened because of imports and new U.S. steelmaking facilities.
Forest City Gear (FCG), currently based in Roscoe, Illinois, was founded in 1955, but was recently tasked with one of its most important missions to date: building the gears for critical mechanical functions in the Mars Curiosity rover.
Dennen Steel cut the ribbon on its steel stamping facility to serve the Southern USA market. Mississippi Governor Phil Bryant cut the ribbon on the new $7 million facility. Dennen Steel Chairman Andrew Dennen reported that “we are making a significant investment here because we projected growth opportunities with existing and new customers in the region.”
Under a recent SEC rule, public companies must acknowledge if their supplies of tantalum, tin, gold or tungsten originate from the Democratic Republic of Congo or its nine adjoining countries. Because of a complex global supply chain, compliance isn't exactly a walk in the park.
The Port Authority of New York and New Jersey and a Canadian company have settled a lawsuit over steel for an antenna that will sit atop One World Trade Center. The Manhattan lawsuit had said the company refused to ship remaining steel for the spire while demanding about $6 million in payments for another project.
Today, it is well-known that women work in the manufacturing field, but it is also well-known that women are greatly outnumbered by men on the factory floor. “According to the National Association of Manufacturers, about a third of all manufacturing workers today are women,” CNN Money reports.
The WTO appeals panel said China was wrong in the way it put duties on U.S.-made grain-oriented flat-rolled electrical steel. China had argued that the tariffs were legitimate because U.S. "Buy American" provisions and state government procurement laws amount to a subsidy for the products, which are used in items such as transformers.
Dennen Steel Corp. has opened its new manufacturing facility in the northeastern corner of Mississippi. The Grand Rapids, Mich.-based company is investing about $7.4 million in the Mississippi plant, creating 50 jobs. The project was announced in 2010, and construction started in July 2011.
The Port Authority of New York and New Jersey has filed a lawsuit claiming a steel company failed to deliver steel pieces needed to complete the antenna that will sit atop One World Trade Center. The lawsuit filed Friday in Manhattan Supreme Court accuses ADF Steel Corp. of refusing to ship the remaining steel for the needle, which will be 408 feet tall when completed.
Alcoa Inc. has slightly lowered its aluminum demand expectations for the rest of the year largely because of China's economic slowdown. Alcoa, which makes aluminum for a wide range of businesses, predicted aluminum demand would grow 6 percent this year, down from 7 percent in the previous quarter.
Firearm sales have increased exponentially over the past few years. As manufacturers seek to meet demand while decreasing costs, reducing weight and increasing durability, the spotlight is turning to engineering and design capabilities in the industry. Engineered metal solutions, such as metal injection molding (MIM), will be key to meeting the challenges of this booming industry.
Anglo American Platinum fires 12,000 striking South African miners for staging an unlawful strike. Strike leader Gaddafi Mdoda said Friday he was one of about 12,000 mineworkers who received emails or SMS messages telling them they had been dismissed.
An Egyptian court on Thursday convicted a Hosni Mubarak-era steel magnate of money laundering, sentencing him to seven years in prison and fining him about $3 billion. Ahmed Ezz, also a leader in Mubarak's now-dissolved ruling party, is already serving a 10-year sentence for a corruption conviction last year.
An Austrian museum says skeletal remains found in an ancient grave are that of a woman metal worker — the first indication that women did such work thousands of years ago. The Museum of Ancient History says the grave originates from the Bronze Age, which began more than 5,000 years ago and ended 3,200 years ago.
The newly formed entity, Nippon Steel & Sumitomo Metal Corp., said Monday it aims to expand its global operations, especially in China, India and other emerging countries, where demand is expected to grow, while consolidating operations in the shrinking Japanese market.