Steel News

Liberty House Adds Four European Steel Plants to Growing List of Assets

12 October 2018 - Sanjeev Gupta’s Liberty House Group has signed an agreement to buy four ArcelorMittal facilities in Europe, an acquisition that will double its rolling capacity to more than 15 million metric tons annually.

Motion Industries Closes on Deal to Acquire Hydraulics Distribution Business

09 October 2018 - Industrial parts supplier Motion Industries Inc. has completed its acquisition of hydraulics and pneumatics distributor Hydraulic Supply Co., the company said on Monday.

Tata Expands Capacity With Usha Martin Acquisition

24 September 2018 - Indian wire rope manufacturer Usha Martin Ltd. is divesting its special steel plant and other upstream assets to Tata Steel for the equivalent of between US$589.6 million and US$644.5 million, the company has announced.

Chinese Steel Companies Launch JV to Drive Consolidation

18 September 2018 - China’s big three steelmakers and an asset management company are investing the equivalent of US$291.3 million in a joint venture that will buy up steel assets, with an eye to driving consolidation within the country, reports the Reuters news service.

Steel Dynamics Takes the Keys to Closed Bar Mill, Eyes November Restart

18 September 2018 - Steel Dynamics Inc. has finalized its acquisition of shuttered Kentucky Electric Steel for US$5 million and plans to reopen the facility in November.

ArcelorMittal Raises Offer for India’s Essar Steel

12 September 2018 - ArcelorMittal has put a new offer on the table for Essar Steel India Ltd., bidding the equivalent of US$5.8 billion for the bankrupt steelmaker, according to media reports.

With a Labor Deal in Hand, ArcelorMittal Nears Completion of ILVA Acquisition

06 September 2018 - ArcelorMittal expects to seal its deal for Italian steelmaker ILVA and its massive Taranto works after it reached a tentative labor agreement with ILVA’s labor unions, the company said Thursday.

Sanjeev Gupta Wants to Buy a Shipyard – Where He'll Melt Ships in a Furnace

27 August 2018 - Steel entrepreneur Sanjeev Gupta, whose Liberty House has been buying up distressed assets in the U.S. and the U.K., has his sights on another target – a failing shipyard in India.

Algoma Moves To End Creditor Protection

06 August 2018 - After operating under creditor protection for more than two and a half years, Canada’s Algoma might be set to emerge under new ownership.

Acquisition Expands Boomerang Tube’s Processing Capabilities

02 August 2018 - Texas-based oil country tubular goods maker Boomerang Tube LLC has acquired nearby casings processor Southern Tube LLC for an undisclosed amount, the company has announced.

ArcelorMittal Makes 'Take It or Leave It' Offer for ILVA

30 July 2018 - ArcelorMittal has upped its offer for Italy’s ILVA after the country’s new government began pushing for a better deal, reports commodities news and pricing service Argus Media.

Italian Government Launches Examination of Ilva Bidding

25 July 2018 - The Italian government has opened a review into the bidding process for Ilva and could potentially rescind its agreement to sell the business to ArcelorMittal, reports Kallanish Commodities.

Steel Dynamics Working on Deal for Idled Mill in Kentucky

24 July 2018 - Steel Dynamics Inc. is planning to acquire a shuttered bar mill in Kentucky, chief executive Mark Millett said Tuesday.

Timken Expands Power Transmission Business With Cone Drive Acquisition

24 July 2018 - The Timken Co. is acquiring precision drives manufacturer Cone Drive for an undisclosed amount, it announced on Tuesday.

Adjusting Strategy, JSW Steel Goes on the Hunt for Niche Producers

11 July 2018 - Having lost the bidding for several distressed assets, India’s JSW Steel is adjusting its acquisitions strategy and will look for smaller, niche producers, according to the Reuters news service.

Bristol Metals Finalizes Purchase of Galvanized Tube Business

05 July 2018 - Bristol Metals LLC has closed on its acquisition of Marcegaglia USA’s galvanized tube business, the company has announced.

Tata, thyssenkrupp Shake Hands on European Joint Venture

02 July 2018 - After more than two years of negotiations, India’s Tata Steel and Germany’s thyssenkrupp have agreed to combine their European steel business through a 50-50 joint venture.

Steel Dynamics Closes on Acquisition of Sheet Processing Facility

02 July 2018 - Steel Dynamics Inc. has finalized its acquisition of the former Heartland Steel sheet processing plant from Companhia Siderurgica Nacional.

Tata Steel Europe Employees Not Sold on Potential thyssenkrupp Joint Venture

12 June 2018 - Tata Steel’s European works council has raised new doubts over the combination of the steelmaker’s European strip business with thyssenkrupp’s steel division, making it less likely that a deal will come to fruition by the end of the month, reports the Reuters news service.

Report: JSW Steel's Appetite for Deals Remains Unabated

07 June 2018 - After signing deals to acquire Italian long products mill and an Indian producer of steel sponge iron and ferroalloys, JSW Steel remains in the hunt for distressed assets, both in India and overseas, reports Indian financial portal moneycontrol.com.