Steel News

Vale to Exit Brazilian Joint Ventures

05 December 2019 - Iron ore producer Vale plans to withdraw from its steel plant joint ventures in Brazil, choosing instead to focus on its mining operations, reports news and commodities pricing service S&P Global Platts.

Cleveland-Cliffs to Acquire AK Steel

03 December 2019 - Iron ore miner Cleveland-Cliffs Inc. is moving to vertically integrate and enter the steelmaking business, reaching a deal to acquire AK Steel Corp. for approximately US$1.1 billion in stock.

Gerdau Acquires Brazilian Mill

02 December 2019 - Gerdau S.A. has further expanded its reach in Brazil with the purchase a majority stake in Siderurgica Latino Americana S.A. (SILAT), the steelmaker announced last week.

Unimacts Announces Expansion Into Mexico

22 November 2019 - Unimacts, a Boston, Mass.-based contract fabricator, has acquired a solar tracking components facility in Mexico.

JFE Steel Forms Joint Venture With Chinese Bar Maker

19 November 2019 - JFE Steel is acquiring a 50% ownership stake in a Chinese special bar producer, giving it an additional foothold in China’s automotive market.

Report: ArcelorMittal Would Return to Ilva…But With Conditions

18 November 2019 - With a few conditions, ArcelorMittal reportedly would be willing to re-commit to its agreement to buy Italy’s Ilva and its Taranto works, according to the Reuters news service.

India’s Supreme Court Clears Essar Acquisition

15 November 2019 - ArcelorMittal expects to soon plant a flag in India after the country’s Supreme Court paved the way for it complete its planned acquisition of Essar Steel India Ltd.

ArcelorMittal Begins Ilva Exit

14 November 2019 - ArcelorMittal has begun the effort to withdraw from its acquisition of Italy’s Ilva steel works, filing suit in a Milan court, reports the Italian news service ANSA.

Jingye Steel Enters Agreement to Buy British Steel

13 November 2019 - China’s Jingye Group has struck an agreement to acquire long steel manufacturer British Steel Ltd., ending months of uncertainty about its future.

Italian PM Promises to Block ArcelorMittal’s Ilva Exit

07 November 2019 - Italian Prime Minister Giuseppe Conte said he will not allow the world’s largest steelmaker to walk away from its agreement to acquire the country’s largest steel works and promised a vigorous court fight if it does.

Report: Chinese Steelmaker Closes in on Outline Agreement to Buy British Steel

07 November 2019 - China’s Jingye Group is said to be at the top of the list to buy the U.K.’s second largest steel producer and could strike a deal in the coming week, according to reports.

ArcelorMittal to Withdraw from Ilva Acquisition

06 November 2019 - ArcelorMittal has given notice that it will hand back the keys to Italian steelmaker Ilva after Italy’s parliament rescinded its legal protections from environmental prosecutions.

U. S. Steel Cements Stake in Big River Steel

06 November 2019 - United States Steel Corporation has finalized its 49.9% acquisition of Big River Steel, the company has announced.

Worthington Industries Acquires Cleveland Facility

08 October 2019 - Worthington Industries Acquires Cleveland Facility

Siemens Sells Stake in Primetals Technologies

03 October 2019 - Mitsubishi-Hitachi Metals Machinery is buying out its joint-venture partner in Primetals Technologies, the parent companies have announced.

U. S. Steel Announces Plan to Acquire Big River Steel

01 October 2019 - United States Steel Corporation is acquiring a stake in Arkansas-based Big River Steel for US$700 million in cash and will look to buy the rest of the business sometime in the next few years, the company announced Tuesday morning.

Timken to Acquire BEKA Lubrication

17 September 2019 - The Timken Co. has reached an agreement to acquire automatic lubrication systems manufacturer BEKA Lubrication for approximately US$165 million in cash and debt, Timken said on Monday.

Triple-S Steel Buys Shamrock Steel to Expand Customer Base

12 September 2019 - Houston-based structural steel supplier and fabricator Triple-S Steel Holdings Inc. has acquired the assets of Shamrock Steel Sales for an undisclosed amount.

O’Neal Industries Acquires Tubing Manufacturer

11 September 2019 - Service center operator and components maker O’Neal Industries Inc., has acquired the assets of a specialty tube maker for an undisclosed amount.

Alton Steel Transfers Ownership to Employee Stock Plan

28 August 2019 - Illinois-based bar manufacturer Alton Steel Inc. has been sold to its 50 full-time salaried employees by way of an employee stock ownership plan, the company has announced.