Mikron machining tech division appoints new COO
Publish on 12/7/2009 10:12:28 AMThe Mikron Group's Machining Technology division, which specialises in manufacturing customer-specific machining solutions, has appointed Bruno Cathomen as its chief operating officer (COO). The former COO, Markus Schnyder, will take over responsibility for the division's tool business. As such, the company will still be able to benefit from his services. Mikron is delighted about this and would like to thank Markus Schnyder for his work as COO over the last six years.
PEB to supply GE Energy with steel building
Publish on 12/7/2009 10:12:14 AMPEB Steel Buildings (PEB) and General Electric Energy (GE Energy) has signed a contract under which PEB Steel Buildings will design, fabricate and install all steel buildings and structures for GE's Turbine Component plant in the northern seaport city of Hai Phong, Vietnam. The US$61 million project, expected to be operational by Q1 of 2010, will produce up to 10,000 tonnes of components annually for GE's wind-turbine assembly plants around the globe.
Tata Steel expands C blast furnace capacity
Publish on 12/7/2009 10:12:11 AMTata Steel has increased its C Blast Furnace from 0.4 mtpa (million tonne per annum) to 0.7 mtpa with the commencement of the blow-in process. The entire project ?from building to commissioning of the upgraded unit - has been designed and implemented internally by the Jamshedpur Works team. Tata Steel claims to be the first steel company in the world to incorporate GIMBAL technology in this furnace.
Hankook Delcam hosts world's largest CAM user meeting
Publish on 12/7/2009 10:12:57 AMDelcam's South Korean joint venture, Hankook Delcam, held the world's largest CAM user meeting at the Hyundai Hotel in Gyeongju. More than 1,000 users attended the meeting, together with delegates from Delcam's Asian Technical Summit, which was held in the same hotel. Despite the international financial crisis, which has impacted on Korea's manufacturing sector, Hankook Delcam President Chan Oong Jeong was determined to celebrate his country's 20th user meeting in style.
ArcelorMittal to buy shares in Indian rolled steel maker
Publish on 12/7/2009 10:12:48 AMArcelorMittal plans to acquire 29.4% shares in Uttam Galva Steels Ltd, a producer of cold rolled steel, galvanised products (comprising plain and corrugated) and colour coated coils and sheets based in Western India. The price offered in the tender offer is Rs. 120 per share, which represents a 27% premium over the 2 weeks volume weighted average and of 85% over the 6 month volume weighted average. The transaction value for 35% stake is Rs. 5 billion (US$103 million) implying an estimated enterprise value of Rs. 28 billion (US$560 million).
New global metals, mining & steel research team
Publish on 12/7/2009 10:12:45 AMBanc of America Securities-Merrill Lynch Research announced a new global structure for the Metals, Mining & Steel Research team. Jason Fairclough will assume the role of lead regional analyst for Europe, Middle East and Africa (EMEA), covering large cap diversified miners, including Xstrata and Anglo American. In addition, Fairclough will work closely with new Asia Pacific Mining Analyst Peter O'Connor in the coverage of BHP Billiton and Rio Tinto for EMEA clients.
Capstone names Al-Nasr as its distributor in UAE
Publish on 12/7/2009 10:12:29 AMCapstone Turbine Corp., a manufacturer of microturbine energy systems, has named Al-Nasr International as its distributor in the United Arab Emirates. Al- Nasr will sell and install Capstone turbines and microturbines in oil and gas, turbo electric and power applications throughout the seven-state UAE. "The fast-growing United Arab Emirates is a new market for Capstone," said Jim Crouse, Capstone's EVP, sales and marketing. "Cities throughout the UAE are growing quickly, which means the need for reliable and efficient on-site power is becoming even greater.
Middle East to see positive steel growth