Steel News

Liberty House Acquires Two Tata Pipe Mills

11 July 2017 - Metals entrepreneur Sanjeev Gupta’s Liberty House Group has reached a deal to acquire two large-diameter pipe mills from Tata Steel U.K.

GFG Alliance Prevails in Effort to Buy Australian Steelmaker

05 July 2017 - After revising an earlier offer, metals entrepreneur Sanjeev Gupta and his family’s alliance of businesses have landed a binding agreement to acquire Australian iron ore miner and steelmaker Arrium.

Tata, thyssenkrupp Leaders to Meet on Potential Steel Merger

05 July 2017 - thyssenkrupp chief executive Heinrich Hiesinger plans to meet with Tata Sons chairman Natarajan Chandrasekaran this month to see if the two companies can put together a deal on merging their European steel operations, according to the German business newspaper Handelsblatt.

Timken Subsidiary Acquires Indian Roller Bearings Maker

05 July 2017 - The Indian subsidiary of The Timken Co. has reached an agreement to acquire ABC Bearings Ltd., an Indian manufacturer of tapered, cylindrical and spherical roller bearings and slewing rings.

Stelco Completes Sale and Exits Creditor Protection

03 July 2017 - U.S. investment firm Bedrock Industries has closed on its acquisition of Canada’s Stelco, officially bringing to an end a decade of United States Steel Corporation ownership and nearly three years of uncertainty under creditor protection.

AK Steel Acquiring Stamped Components Manufacturer

03 July 2017 - AK Steel is setting its sights downstream, announcing Monday that it is acquiring a Canadian tooling and stamped components manufacturer for US$360 million in cash.

Universal Stainless Says No to Merger Offer

29 June 2017 - Universal Stainless & Alloy Products Inc. has rejected an unsolicited merger offer from Synalloy Corp., saying that the proposed deal held no merit, the company said on Thursday.

Liberty House Puts an Offer Down For U.K. Bar Producer

19 June 2017 - Metals entrepreneur Sanjeev Gupta and his Liberty House Group reportedly are making a rescue bid for an ailing bar and beam producer in the U.K.

ArcelorMittal, Italy Reach Binding Agreement on ILVA Acquisition

16 June 2017 - ArcelorMittal and partner Marcegaglia said on Friday that they have reached a binding agreement with the Italian government on a plan to acquire ILVA.

Judge OKs Stelco Sale

09 June 2017 - A Canadian judge approved Stelco’s restructuring plan and sale to U.S. investment firm Bedrock Industries Group on Friday, a decision that will allow the steelmaker to emerge from creditor protection as a standalone business.

Steelworkers Ratify New Labor Agreement with Stelco Acquirer

07 June 2017 - Members of the United Steelworkers union have accepted a new labor deal with the buyer of Canada’s Stelco, clearing the way for it to emerge from creditor protection.

Italian Government OKs ILVA Sale to ArcelorMittal-Led Group

06 June 2017 - A consortium led by ArcelorMittal has won the right to acquire Italy’s ILVA and its Taranto works, Europe’s largest steel facility.

Sandvik Sheds Steel Belts Business

02 June 2017 - Sandvik is divesting Sandvik Process Systems, its industrial process equipment business, to FAM AB for about US$579.2 million, the company has announced.

Two Submit Final Offers for Australian Steel Company

31 May 2017 - A steel producer and a private equity firm have submitted final bids for Australia’s Arrium Ltd., which collapsed into administration last year, according to the Reuters news agency.

The World's Biggest Steelmaker May Win Europe's Largest Steel Works

30 May 2017 - ArcelorMittal and steel re-roller Marcegaglia have been named the preferred bidders for Italy’s ILVA steel works, reports the (London) Financial Times.

Tsubaki Subsidiary Acquires Canadian Sprocket Manufacturer

26 May 2017 - U.S. Tsubaki Power Transmission LLC has announced that Tsubaki of Canada Ltd. has acquired a British Columbia-based maker of sprockets and drive components.

Linde, Praxair Reach Outline Agreement on Merger

24 May 2017 - U.S-based Praxair Inc. and Germany’s Linde AG have reached an agreement in principle to merge through an all-stock deal, creating the world’s largest industrial gases supplier.

Tata Steel to Split From U.K. Pension Fund

18 May 2017 - Tata Steel said it has reached an agreement in principle to sever ties with its U.K. pension fund, a move that if finalized would remove an obstacle to possible a merger with thyssenkrupp’s steelmaking operations.

Sandvik Looks to Exit Welding, Stainless Wire Business

17 May 2017 - Sandvik Materials Technology intends to divest parts of its wire business and is reorganizing the rest of its operations around four product areas, the company has announced.

Steel M&A Picks Up as Prices Recover

08 May 2017 - Rebounding steel prices and capacity cuts in China have triggered a wave of mergers and acquisitions, and plants once considered worthless are now attracting attention from investors, reports the Reuters news service.