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News

10/2/2014 - Executive Vice President and President of EMEA region

Changes in Outotec Executive Board

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Mr Adel Hattab joins Outotec on October 1, 2014 as the Executive Vice President and President of EMEA region. He will be a member of Outotec's Executive Board. Adel Hattab holds a degree of M.Sc. (Eng) from Helsinki University of Technology, Faculty of Mining and Metallurgy as well as MBA from a joint program between Helsinki School of Economics and MIT, with major in Finance.

Source: Outotec Oyj, Helsinki
10/2/2014 - Capital Markets Day

SSAB towards industry-leading profitability

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SSAB is holding its Capital Markets Day in Stockholm on October 1, 2014. SSAB aims to be one of the most profitable steel companies by developing its unique product and service offering within high-strength steels globally, and by improving efficiency in its production, distribution and sales of top-quality steel on the home markets in the Nordic region and USA. Consequent to the combination with the Finnish steelmaker Rautaruukki, SSAB will, over a three-year period, realize synergies reducing the annual cost base by SEK 1.4 billion. In addition to the cost synergies, SSAB expects to reduce net working capital by around SEK 500 million and to avoid overlapping capital expenditure of SEK 1.4 billion.

Source: SSAB, Stockholm
Due to the strength of duplex stainless steel, the towers are remarkably lighter compared to the conventional towers in the market today. Photo: Outokumpu
Due to the strength of duplex stainless steel, the towers are remarkably lighter compared to the conventional towers in the market today. Photo: Outokumpu
10/1/2014 - Stalatube

Outokumpu’s duplex reaches new heights in wind power towers

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Finnish hollow stainless steel section manufacturer Stalatube has selected Outokumpu’s duplex stainless steel as one of the main construction material for its new StalaWind wind power towers. Duplex stainless steel is a strong and durable material, which provides very good features in this demanding application. Says Markku Koponen, Director of Stalatube’s Energy Sector: “The turbine manufacturers demand taller towers, because at heights of more than 100 m, the energy output of the towers increases by an average of one percent every additional meter. As a solution, Stalatube has designed steel hybrid towers, essentially made of stainless steel tubes that can take turbines up to heights of 140 to 160 m or more.”

Source: Outokumpu Oyj, Espoo
10/1/2014 - General financing purposes of the Group

Successful € 500 million bond issue for Vallourec

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Vallourec successfully launched a € 500 million bond issue, maturing in September 2024, with an annual coupon of 2.25%. The bond proceeds will be used for the general financing purposes of the Group, enabling Vallourec to increase its financial flexibility and lengthen the maturity of its debt profile. The success of this issue with investors confirms the confidence of the market in the creditworthiness of the Group.

Source: Vallourec, Boulogne-Billancourt
9/30/2014 - Jamshedpur

Tata Steel wins Asian CSR Leadership Award for Community Development

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Sukinda Chromite Mine of Tata Steel has bagged the Asian Corporate Social Responsibility Leadership Award for Community Development. This was awarded by World CSR Congress at Dubai on September 24, 2014. Mr Sumit Ghoshal, Regional Commercial Manager, Tata Steel, Middle East, while receiving the award on behalf of the company spoke about how the company's Founder's vision for community development has been ingrained in the DNA of all the employees and is being practised company wide.

Source: Tata Steel, London
9/29/2014 - worldsteel

The 5th Steelie Awards nominations announced

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The World Steel Association (worldsteel) has announced the nominees for its 5th Steelie Awards. The winners will be revealed at the annual dinner of the 48th worldsteel conference in Moscow on 6 October. The trophies, known as Steelies, are awarded in seven categories this year.

Source: worldsteel, Brussels
9/26/2014 - Eurofer change in management

Axel Eggert nominated Director General

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In the context of the appointment of a new European Commission and the election of a new European Parliament, Eurofer has decided on a transition to a new leadership. Gordon Moffat, current Director General is leaving the association. Axel Eggert, current Director Public Affairs at the European Steel Association Eurofer, will assume the leadership on 1 October 2014. He has been nominated ad interim Eurofer Director General.

Source: Eurofer, Brussels
The boat called Elvira was christened for its maiden voyage on July 27, 2014. Photo: Outokumpu/SSY
The boat called Elvira was christened for its maiden voyage on July 27, 2014. Photo: Outokumpu/SSY
9/24/2014 - Outokumpu

Stainless steel creates a first ever maintenance free boat

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Outokumpu duplex stainless steel is used in the first ever boat built entirely out of stainless steel. The boat represents true innovation in the shipbuilding industry. The use of high strength and durable duplex stainless steel makes the boat entirely maintenance free and resistant to hard weather conditions during the winter. Outokumpu’s units in Nyby, Avesta and Degerfors in Sweden delivered around 5 t of super duplex 2507 stainless steel to the construction of the 10,5 m-long boat. The boat was constructed and built by Swedish Steel Yachts (SSY) based in Gävle, Sweden.

Source: Outokumpu, Espoo
9/24/2014 - UK

Tata Steel announces R&D link with University of Warwick

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Tata Steel announced it will be creating a new R&D centre at the University of Warwick in the UK to better serve the needs of its current and future customers. Company scientists and engineers will develop a range of materials to meet manufacturers’ and consumers’ future demands, such as for renewable energy generation and more fuel-efficient cars and planes which Tata Steel announced in February. The development was made possible following the investment of £8 million from the UK Government’s Regional Growth Fund.

Source: Tata Steel, London
World crude steel production increased in August 2014 by 1.4 %. Graph: worldsteel
World crude steel production increased in August 2014 by 1.4 %. Graph: worldsteel
9/23/2014 - worldsteel

August 2014 world crude steel production increased

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World crude steel production for the 65 countries reporting to the World Steel Association (worldsteel) was 135 million t (Mt) in August 2014, an increase of 1.4% compared to August 2013. China’s crude steel production for August 2014 was 68.9 Mt, up by 1.0% compared to August 2013. Elsewhere in Asia, Japan produced 9.3 Mt of crude steel in August 2014, an increase of 2.2% compared to August 2013. In August 2014, India produced 7.0 Mt of crude steel, an increase of 5.2% compared to the same month 2013. South Korea produced 5.3 Mt of crude steel in August 2014, up by 8.0% on August 2013.

Source: worldsteel, Brussels
9/23/2014 - Belo Monte hydroelectric dam complex

ArcelorMittal steel in the world’s third largest hydroelectric dam

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ArcelorMittal Brazil is supplying 50,000 tonnes of steel for the biggest ongoing construction project in the country – the Belo Monte hydroelectric dam complex on the Xingu River in the state of Pará. ArcelorMittal Piracicaba, ArcelorMittal São Paulo, ArcelorMittal Cariacica, ArcelorMittal Juiz de Fora and the joint venture Belgo Bekaert Arames are supplying rebar, welded mesh, strands for pre-stressed concrete, structural steel beams, nails, annealed wire, and steel plate for the project to be used in the construction of the turbines and the dam, as well as plumbing design. The first shipment took place in October 2012 and so far 30 000 t of steel have been supplied. Additional 20 000 t are expected to be delivered by the end of 2017.  

Source: ArcelorMittal, Luxembourg
9/23/2014 - Outotec

Grinding mill and service orders in EMEA region

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Outotec has been awarded three grinding mill orders and mill service contracts in the EMEA region. The total value of these orders booked in Outotec's third quarter 2014 order intake is approximately € 12 million.

  • Outotec will deliver primary and secondary ball mills together with installation and mill services for LKAB's Malmberget iron ore beneficiation plant in Sweden.
  • First Quantum Minerals ordered a high intensity grinding mill, the Outotec HIGmill(TM), to be used in a fine grinding application at its Kevitsa copper and nickel mine in Finland.
  • Outotec will also deliver a ball mill to Norilsk Nickel's Harjavalta copper and nickel operations in Finland.

The grinding mills will be delivered during 2014 and 2015.

Source: Outotec, Helsinki
Chrysler Building in New York. Foto: Outokumpu
Chrysler Building in New York. Foto: Outokumpu
9/22/2014 - Bau-, Infrastruktur- und Architekturvorhaben

Outokumpu präsentiert sein Oberflächen-Know-how

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Outokumpu stellte auf zwei gleichzeitig stattfindenden Veranstaltungen in Deutschland und China sein hochwertiges Angebot an Oberflächenausführungen vor und demonstrierte, warum Edelstahl zunehmend bei Bau- und Infrastrukturprojekten zum Einsatz gelangt. Bei beiden Veranstaltungen präsentierte Outokumpu seine drei jüngsten Innovationen: 2R2, eine hochspiegelnde, glatte Oberfläche für große Produktionsmengen, GritLine, eine durch Walzprägen erzeugte, geschliffene Oberfläche mit ebenmäßiger Struktur, und Laser, eine neue homogene Oberfläche, mit der Zufallsstrukturen ideal für große Fassadenelemente erzeugt werden können.

Source: Outokumpu Oyj, Espoo
9/22/2014 - Moody's

ArcelorMittal's announced sale of 50% stake in Gallatin Steel Company is credit positive

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Last Monday, ArcelorMittal (Ba1 negative) and Gerdau S.A. (Baa3 stable) announced that they had reached an agreement with Nucor Corporation (Baa1 stable) for the sale of their respective 50% stake in Gallatin Steel Company, a flat rolled mini-mill located in the US. The transaction, which is expected to close by the end of the year, will translate into cash proceeds of approximately $385 million for ArcelorMittal. Moody's views the transaction as credit positive for ArcelorMittal.

Source: Moody's, London
The new finishing line at IJmuiden steelworks. Photo: Tata Steel
The new finishing line at IJmuiden steelworks. Photo: Tata Steel
9/19/2014 - IJmuiden steelworks

Tata Steel opens new automotive finishing line

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Tata Steel has opened a new finishing line at its IJmuiden steelworks in the Netherlands to strengthen the supply of high-value steels to the automotive sector and other markets. Tata Steel invested 12 million € in Finishing Line 32, which will process up to 400 000 t of galvanised (corrosion resistant) steel coil a year. Henrik Adam, Tata Steel’s Chief Commercial Officer, said: “This investment will enable us to improve the supply of high-quality steels to customers while also improving delivery times.

Source: Tata Steel, London