[ Industry Update ]
Tau concludes EUR 9m series-B round steel . The business will continue to operate as Metal-Fab , an Olympic Steel company , led by Mark Ohm , President , and his experienced management team . Olympic Steel announced that it has increased the size of its asset-based revolving credit facility from USD 475m to USD 625m . Following the USD 131m acquisition of Metal- Fab , Olympic Steel ’ s total debt under the revolving credit facility is approximately USD 297m , with the availability of approximately USD 280m , leaving significant capital to continue its diversification strategy through investments in additional acquisitions , new capacity and increased efficiency through automation to deliver shareholder value .
Technology company Tau has concluded a series-B round raising EUR 9m with Solvay Ventures as a lead investor . Solvay Ventures is joined by existing shareholders including Finindus , a Belgium-based joint venture of ArcelorMittal and the Flemish Region , as well as management and private individuals . Tau has established itself as an innovative supplier to the automotive industry by setting a new global standard in winding wire for e-mobility . Its wire addresses the industry ’ s demand for the next generation of electric motors with a reduced carbon footprint , using less resources and improving the electric vehicles ’ efficiency , range , and recharge time , notably through superior resistance to partial discharge and accommodating voltages of 800V and higher . Recently , Tau reached an important commercial milestone when its wire products completed diligent validation processes of several automotive OEM and Tier 1 suppliers in Europe , Asia , and North America . The company is currently ramping up capacity , providing early adopters with immediate competitive advantages , and is preparing industrial scale carbonneutral winding wire production in Italy with the goal to start worldwide deliveries by 2024 .
New superalloy ABD-900AM
Aubert & Duval has developed an age-hardenable nickelbased superalloy designed specifically for use as feedstock in powder bed fusion . Stellar ABD ® -900AM is optimised for high creep and tensile strength , and corrosion / oxidation resistance , with a working temperature range up to 900 ° C in its age-hardened state . The new alloy has excellent creep strength – similar to alloy 939 and Ni 738 – while having superior resistance to cracking during manufacture and heat treatment . Designed to be free of solidification , liquidation and strain-age cracks , Stellar ABD ® -900AM is 40 % � ’ phase and showcases exceptional printability for such a high temperature strengthened alloy . It is suitable for complex components within the aerospace , power , automotive , and space industries .
Olympic Steel acquires Metal-Fab , Inc .
Olympic Steel Inc has acquired all outstanding shares of Metal-Fab , Inc . The purchase is expected to be immediately accretive . Metal-Fab was founded in 1958 and operates from two warehousing and fabrication facilities in Wichita , Kansas . The business manufactures venting and filtration products for residential , commercial , and industrial applications - products constructed largely of coated carbon and stainless
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