Steel News

Tata, thyssenkrupp Discussing Joint Venture for European Strip Businesses

08 July 2016 - Tata Steel has suspended the sale of its U.K. business and is now thinking about putting its strip operation into a joint a venture with other steelmakers, including Germany’s thyssenkrupp AG, Tata announced on Friday.

Acquisition Adds Couplings, U-Joints to Timken Co.'s Product Lineup

08 July 2016 - The Timken Co. has acquired family-owned Lovejoy Inc., a maker of industrial couplings and universal joints, for US$66 million, Timken has announced.

Royal Tractor Sold to Wisconsin Manufacturer

08 July 2016 - Royal Tractor Co. Inc., a Kansas-based manufacturer of materials handling equipment, has been sold for an undisclosed amount.

'Brexit' Puts the Brakes on Sale of Port Talbot Works

05 July 2016 - The uncertainty arising from the U.K.’s Brexit vote is prompting Tata Steel to pause the sale of its Port Talbot works, reports The (London) Sunday Times.

World's Biggest Steelmaker Looks to Become Even Bigger

30 June 2016 - ArcelorMittal and Italy’s Marcegaglia SpA have put down an offer on the country’s troubled Ilva steelworks in the city of Taranto, ArcelorMittal has announced.

Steel Dynamics Expands SBQ Finishing Capabilities Through US$126M Deal

30 June 2016 - U.S.-based Steel Dynamics Inc. is acquiring America’s largest maker of threaded rod for US$126 million, the company announced on Thursday.

Report: USSC Rejects Essar Global Offer, Two Remain in the Running

28 June 2016 - Essar Global, which last month was disqualified to bid on Canada’s Essar Steel Algoma, reportedly has been dropped as a U.S. Steel Canada suitor as well, according to The Hamilton Spectator newspaper.

Brexit Leaves Fate of Tata Steel U.K. All the More Uncertain

27 June 2016 - The United Kingdom’s vote to secede from the European Union will complicate Tata Steel's efforts to sell its U.K. strip business and may, in fact, give the company more of a reason to hold on to the business, according to reports.

U.S. Steel Canada, Essar Algoma Mills Won't Shut in Proposed Merger, Says Investment Firm

22 June 2016 - The investment firm planning to buy Canada’s Essar Steel Algoma has confirmed that it also is bidding on U.S. Steel Canada and intends to merge the two steelmakers, reports The (Toronto) Globe and Mail newspaper.

Report: Investment Firm Hopes to Merge the former Stelco, Essar Steel Algoma

20 June 2016 - A New York-based private equity firm has plans to acquire two ailing Canadian steelmakers and merge the businesses, reports The Hamilton Spectator newspaper.

ArcelorMittal Exploring Divestment of French Steel Businesses

20 June 2016 - ArcelorMittal is looking at selling a stake in a French subsidiary while it explores a sale of a wire unit, which also has operations in the country, according to the Reuters news service.

Essar Steel Algoma Accepts Sale Bid From Investment Firm, Lenders

17 June 2016 - A consortium made up of an American private equity firm and a group of lenders has reached an agreement to acquire Essar Steel Algoma, the Canadian steelmaker announced on Friday.

Commercial Metals Sells Off the Last of Its Australian Distribution Business

17 June 2016 - Commercial Metals Co. has found a buyer for the last of its Australian steel distribution assets, the U.S.-based company has announced.

China Acquisition of Unprofitable Serbian Mill Undermines Efforts to Reduce Global Overcapacity, Says EUROFER

17 June 2016 - As Chinese President Xi Jinping visits Serbia this week, the European Steel Association is raising objections over the sale of Serbia’s largest steel mill to a state-owned producer in China.

Columbus Castings to be Put on Auction Block in July

16 June 2016 - Constellation Enterprises LLC, the bankrupt parent of Ohio-based Columbus Castings, is planning to sell the business through an auction after a proposed private sale was called off, reports the Columbus (Ohio) Business First newspaper.

Two Potential Buyers Said to Have Bids on U. S. Steel Canada

15 June 2016 - A private equity firm and an industrial conglomerate have entered the final stage of bidding for U. S. Steel Canada, which is operating under creditor protection as it seeks a buyer, reports The Hamilton Spectator newspaper.

Report: Tata Pushes Back Decision on Sale of U.K. Business

09 June 2016 - Tata Steel apparently is going to give itself more time to consider the fate of its struggling U.K. business, extending the timeline for naming a preferred bidder for the operation, reports the (London) Financial Times.

Reports: U.K. Government May Loan Tata Steel Millions to Keep It from Leaving

03 June 2016 - Tata Steel, which in March announced that it no longer thought it could make steel profitably in the U.K. and would exit the market, may not leave after all.

Metals Trader Announces Plans to Expand U.K. Mill

31 May 2016 - Metals executive Sanjeev Gupta and his firm, Liberty House, plan to nearly double the capacity of its Welsh rolling mill and add 2 million metric tons of liquid steelmaking capacity there, the firm announced on Tuesday.

Columbus Castings Files for Chapter 11 Bankruptcy

18 May 2016 - America’s largest single-site foundry and its parent company have filed for bankruptcy protection and the plant is to be sold to an unidentified buyer, according to Dow Jones Daily Bankruptcy Review.