Steel News

Acquisition Allows Service Center Operator to Expand Further Into Midwest

23 September 2020 - Chicago-based UPG Enterprises LLC has completed its acquisition of flat-rolled distributor Lexington Steel Corp. and its affiliated steel logistics unit, Douglass Logistics Inc.

Nippon Steel Looks Overseas for Growth

02 September 2020 - Nippon Steel Corp. is seeking merger and acquisition opportunities, just not at home in Japan, reports the Reuters news service.

Baowu Steel Takes Controlling Stake in Stainless Producer

21 August 2020 - China’s largest steelmaker will acquire a majority stake in Taiyuan Iron & Steel Co. Ltd. (TISCO), the country’s No. 2 stainless producer, reports the Reuters news service.

Gupta Looks to Make Smaller Deals, and More of Them, in India

21 August 2020 - Having lost out in the bidding on several large stressed steel assets in India, industrialist Sanjeev Gupta is setting his sights on smaller plants, reports the Bloomberg news service.

LIBERTY Steel Adds Two French Mills to Portfolio

14 August 2020 - LIBERTY Steel Group has acquired the Hayange rail mill and Ascoval steel works in France, giving the facilities a new lease on life.

SDI Finalizes Mexican Scrap Acquisition

05 August 2020 - Steel Dynamics Inc. (SDI) has closed on its acquisition of Mexican scrap processor Zimmer S.A. de C.V., a deal that gives it control of 500,000 gross tons of ferrous and non-ferrous scrap annually.

Acquisition Expands SMS group’s Digital Efficiency, Sustainability Offerings

01 July 2020 - SMS group is acquiring two Brazilian industrial tech companies and will merge them to create a competency center for industrial digitalization in Latin America.

thyssenkrupp Keeping All Options Open for Steel Unit, Including Merger

19 May 2020 - thyssenkrupp is accelerating plans to reorganize its overall business and is exploring a potential merger of its steel unit, the company said Monday.

JD Fields Acquires California Distributor and Fabricator

12 May 2020 - JD Fields & Company Inc., a U.S. distributor of oil and gas pipeline and civil infrastructure products, has acquired a California steel products manufacturer for an undisclosed amount, the company has announced.

Stelco Looks to Acquire Stake in Iron Ore Mine

01 May 2020 - Stelco is buying an option on a 25% stake in United States Steel Corporation’s Minntac iron ore mine and has signed a new contract to buy pellets from the steelmaker over the next eight years.

Recognized Safety Training Company Sold

07 April 2020 - Multimedia Training Systems Inc. (MTS), a Pittsburgh, Pa., USA-based provider of safety training for the steel industry, has been sold to compliance software and services specialist KPA.

It’s Official: AK Steel Is Now a Part of Cleveland-Cliffs

13 March 2020 - Cleveland-Cliffs Inc. on Friday completed its acquisition of AK Steel Corp., marking the beginning of a new era for two storied American businesses.

Cleveland-Cliffs Wins Shareholder Approval for AK Steel Merger

10 March 2020 - Shareholders have given approval to Cleveland-Cliffs Inc.’s planned acquisition of AK Steel Corp., bringing the deal one step closer to fruition.

Jingye Finalizes Purchase of British Steel

09 March 2020 - The Chinese steelmaker on Monday closed on its acquisition of British Steel’s facilities in the U.K. and the Netherlands, securing approximately 3,200 jobs.

ArcelorMittal Reaches New Deal on ILVA Steel Works

04 March 2020 - ArcelorMittal and the Italian government have agreed to revised terms governing the steelmaker’s acquisition of the ILVA steel works in Italy.

Jingye Group Ready to Finalize Conditional Acquisition of British Steel

03 March 2020 - China’s Jingye Group is set to finalize its planned acquisition of British Steel and expects to close on at least a part of the business next week, the company said on Tuesday.

SDI Deepens Its Scrap Stream for Texas Mill

02 March 2020 - Steel Dynamics Inc. is locking up additional scrap supply to feed its planned flat-rolled mill in Texas, announcing Monday that it is acquiring a Monterrey, Mexico-based scrap processor.

U. S. Steel Buys Out Partner in Joint Venture Mill

02 March 2020 - United States Steel Corporation has acquired the remaining 50% share in its USS-POSCO Industries (UPI) joint venture, the company said on Sunday.

Cleveland-Cliffs Expects March Close for AK Steel Acquisition

21 February 2020 - Cleveland-Cliffs’ planned acquisition of AK Steel Corp. has received approval from North American regulators and is expected to close in March, the company has announced.

GFG Alliance Enters Indian Steel Market Through Acquisition

18 February 2020 - GFG Alliance has acquired a distressed steelmaking operation in India for the equivalent of US$60 million in cash, giving the company its first foothold in the country.