Cleveland-Cliffs Inc. entered into a definitive agreement to acquire Ferrous Processing and Trading Company (FPT) for a total enterprise value of approximately $775 million. Based in Detroit, FPT is among the largest processors and distributors of prime ferrous scrap in the United States, representing approximately 15% of the domestic merchant prime scrap market. The company currently processes approximately 3 million tons of scrap per year, approximately half of which is prime grade. FPT operates 22 scrap processing facilities, with approximately 90% of revenues originating from its Midwest locations, primarily in Michigan and Ohio.
Tenova Italimpianti received a contract for a 340-ton/hour walking-beam furnace from Jindal United Steel Limited (JUSL), a company that specializes in hot and cold rolling of stainless steels, in Jajpur, Odisha, India. The furnace is designed to charge stainless steel (grade series 200, 300 and 400) and low-carbon steel in order to comply with JUSL’s various production needs. The installed combustion system is designed to optimize performance (flame characteristics, efficiency and pollutant emissions) in function of the fuel and burner location (frontal, lateral or radiant application). The multi-level automation control system optimizes heating practices, regulating fuel consumption and scale production.
Can-Eng Furnaces International Ltd. received a contract to design and supply a 6,000-pound/hour continuous mesh-belt furnace system to a precision automotive and specialty fastener manufacturer located in Michigan. The system includes an atmosphere-controlled mesh-belt hardening system, temper furnace, automated bin-dumping loader, pre-washer, oil quench, post-wash system, in-line soluble oil system, bi-directional conveyor discharge and Can-Eng’s PET Level 2 SCADA system.
ArcelorMittal Belgium will reduce CO2 emissions by 3.9 million metric tons per year by 2030 by building a 2.5-million-metric-ton direct reduced iron (DRI) plant and two electric-arc furnaces (EAFs) at its Ghent site to operate alongside a blast furnace that is ready to take waste wood and plastics as a substitute for fossil carbon. A DRI plant uses natural gas, and potentially hydrogen, instead of coal to reduce iron ore, which results in a reduction in CO2 emissions compared with blast-furnace ironmaking. The two EAFs will melt the DRI and scrap steel, which will then be transformed into steel slabs and then further processed into finished products.
Nucor Corp. launched Econiq, a line of net-zero carbon-steel products. Building the green economy and the necessary infrastructure requires clean, advanced steel products. According to Nucor, Econiq is a first of its kind at scale for the U.S. steel industry. General Motors will receive the Econiq net-zero steel beginning in the first quarter of 2022, and it is projected that all steel purchased by GM from Nucor will be net carbon neutral by the end of 2022. The Econiq brand will be available across the complete line of Nucor steelmaking products, and initial quantities will be limited.
SSI Sintered Specialties (SSI) and ExOne Company jointly announced that SSI purchased two metal binder-jetting systems featuring ExOne's patented triple advanced compaction technology (ACT). The metal 3D printers are scheduled for delivery in the first half of 2022 and will be located at SSI’s headquarters in Janesville, Wis. The company’s 250,000-square-foot facility also houses what it says is the world’s largest installed capacity of high-temperature sintering furnaces and post-processing technology to support volume production in metal binder jetting.
Forward AM, the brand of BASF 3D Printing Solutions, opened an additive-manufacturing (AM) Applications Technology Center (ATC) in Detroit, Mich., in cooperation with Michigan State University (MSU). The new facility will serve as the hub of expertise for solutions in the North American AM market. This joint commitment will allow education and industry to combine their strengths to offer fully integrated 3D printing solutions. Forward AM contributes with a wide range of high-performance 3D-printing materials and engineering expertise, while MSU brings years of technical expertise and the drive to support the next generations of 3D-printing services and design solutions.
In response to increased demand from the U.S. steel industry, HarbisonWalker International (HWI) – a supplier of refractory products – is making an investment to substantially increase production of its steelmaking products. HWI will build a manufacturing and service hub for steel customers in the United States. The Pittsburgh, Pa.-based company is assessing strategic site options, and construction is scheduled to begin immediately once the location is determined. The new facility is expected to open as early as the third quarter of 2022.
L&L Special Furnace Co. Inc. shipped a second bench-mounted box furnace to a manufacturer of high-purity fused silica and high-end ceramic products. These materials are used in the semiconductor and photonics industries as well as other ceramic and composite industries worldwide. The furnaces are part of the research-and-development department and are an important component of laboratory testing and quality control. The model has internal dimensions of 17 inches wide x 12 inches high x 14.5 inches deep. Included is a spring-assist vertical lift door that allows for effortless loading and unloading, even at high temperatures.