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Kobe Steel and Midrex Terminate Agreements with ZincOx

12/09/2010 - Kobe Steel and its wholly owned subsidiary Midrex Technologies have terminated their Alliance Agreement with ZincOx Resources plc.

Kobe Steel, Ltd. and its wholly owned subsidiary Midrex Technologies Inc. have terminated their Alliance Agreement with ZincOx Resources plc.
 
Under the Alliance Agreement, the parties were to collaborate on the process, equipment design and engineering for electric arc furnace dust recycling plans using the FASTMET® and FASTMELT® Process jointly owned by Kobe Steel and Midrex.
 
"We have completely terminated the relationship with ZincOx," Mr. James D. McClaskey, President and CEO of Midrex said. "This will free us to pursue opportunities to use our FASTMET and FASTMELT Process to recycle EAFD with other partners. We believe our technology provides a superior solution for recycling EAFD, and we are excited about discussing how we can assist EAFD recyclers."
 
Midrex further announced that it had terminated its License Agreement with ZincOx’s wholly owned subsidiary, Zinc and Iron Recycling of Ohio, Inc. The License Agreement had granted Zinc and Iron Recycling of Ohio the license to use technology related to the FASTMET Process.
 
The Kobe Steel Group operates in a wide range of fields, including both the materials sector (iron and steel, welding, aluminum and copper) and the machinery sector (industrial machinery, construction machinery, engineering, and the environmental business) as well as electric power supply, real estate and electronic materials.
 
For more than two decades, MIDREX® Plants have produced 60% or more of the world’s annual DRI tonnage. The company continues to develop some of the industry’s most efficient and successful technologies.