Insteel Industries Inc. announced that its wholly owned subsidiary, Insteel Wire Products, acquired substantially all of the assets of Strand-Tech Manufacturing Inc. (STM) for $22.5 million. STM manufactures prestressed concrete (PC) strand for concrete construction applications. Under the terms of the agreement, Insteel acquired STM's accounts receivable, inventories, production equipment and facility located in Summerville, S.C. Mount Airy, N.C.-based Insteel plans to close the Summerville facility and move most of its equipment to the company's other three PC strand production facilities in Gallatin, Tenn.; Houston, Texas; and Sanderson, Fla.
Acerinox, a stainless steel manufacturer based in Spain, acquired Germany’s VDM Metals, a global supplier of metals. The transaction, which is valued at approximately $570 million, has received approval from the European, U.S. and Taiwanese competition authorities. VDM has seven production plants in Germany and the U.S. The new group company will be a global leader in the development and manufacture of special nickel alloys and high-performance stainless steels.
Semiotic Labs, a company based in Leiden, Netherlands, and Germany’s SMS group signed an agreement under which the two companies will cooperate in the field of predictive maintenance. The AI-based technology developed by Semiotic Labs uses electrical signals and the data fingerprint of AC motors and other rotating equipment to monitor and analyze the condition of critical plant assets and enable reliable and early prediction of developing faults. SAM4 operates based on sensors installed directly in the control cabinet – not on the asset itself. This solution is particularly useful for the monitoring of equipment in the metallurgical industry.
Cleveland-Cliffs Inc. successfully completed the acquisition of AK Steel Holding Corp., integrating North America’s largest producer of iron-ore pellets downstream into the production of value-added steel and specialty manufactured parts for the automotive industry. The combined company will be led by Chairman, President and CEO Lourenco Goncalves. It combines mining, pelletizing, direct-reduction, EAF steelmaking, BF/BOF steelmaking, highly technologically developed finishing mills and automated manufacturing of auto parts.
Fives received an order from JSW Steel, India’s leading steel producer, for an upgrade project of its reheating furnaces at JSW Steel Vijayanagar Works, which currently produces 12 million tons per year. Fives will modernize two reheating furnaces to increase their efficiency and capacity from 250 tons per hour to 295 tons per hour to meet the new requirements of the hot-strip mill N1. Both walking-beam furnaces were previously supplied by Fives. The project for both furnaces is scheduled to be completed by 2021.
Jingye Group, a Chinese steelmaker, acquired British Steel’s facilities in the U.K. and the Netherlands, a move that will secure approximately 3,200 jobs. Jingye will invest approximately $1.5 billion in the business. Initiatives include: the development of an electric-arc furnace (EAF) in Teesside; the construction of a new 250-MW power plant to serve the Scunthorpe site; investment in the rolling mills to produce high-quality steel products; the construction of a new rebar line; and enhancing the current rail mill.
Nucor-JFE Steel Mexico, located in Silao, Mexico, has begun operating its continuous galvanizing line, which will produce hot-dip galvanized sheet steel for the automotive market. The facility has a production capacity of 400,000 tons annually. It can produce sheet thicknesses of 0.4-2.6 mm and widths of 800-1,850 mm. Nucor-JFE has started trial production and will move toward full-scale sales and production once customer approvals have been obtained.
Steel Dynamics Inc. entered into a definitive agreement to acquire Zimmer, S.A. de C.V. as part of its raw-material procurement strategy to support its new Texas flat-roll steel mill, which is currently under construction and expected to begin operations in 2021. Zimmer is headquartered in Monterrey, Mexico, and operates a ferrous and nonferrous scrap metals recycling business. The company's primary operations are comprised of six scrap-processing facilities that currently ship approximately 500,000 gross tons of scrap annually and have an estimated annual processing capability of approximately 2 million gross tons. Zimmer also operates several third-party scrap-processing locations.
Tenova, a Techint Group company, received a contract from Nippon Steel for the supply of an electric-arc furnace (EAF). The furnace is the first one for Nippon Steel in Japan. It will be installed at its Hirohata works. Production is scheduled to begin in the first half of 2022. According to Tenova, the new installation will save the steelmaker approximately 400,000 tons/year of CO2 emissions.
Andritz received an order from Slovenia’s SIJ Metal Ravne for the supply of a complete heat-treatment plant, including two double-chamber furnaces, a charging machine, high-volume quenching tanks and an automation system. Commissioning is scheduled for the second quarter of 2021. Each double-chamber furnace consists of a high-temperature furnace (1202-2228°F) with recuperative burners and a low-temperature furnace (392-1526°F) with forced circulation. Both furnace types meet the qualifications for AMS 2750E. The charging machine is designed as a portal-type unit for handling charging material up to 25 tons.
Check out the April 2020 issue of Industrial Heating, which features our cover story on "CF Lining Attachment Advances", "Heat-Treatment Influence on Recast-Layer Thickness from Nonconventional Machining", "Hot Isostatic Pressing with Integrated Heat Treatment", and much more.