Industry Update
BUTTING builds massive Cluster 5 converter
Added Value in VDM and Acerinox ’ s Beyond Excellence
BUTTING has already built a large number of SCR catalytic converters for MAN Energy Solutions . However , a new milestone has been achieved with the production of a massive Cluster 5 Double Layer . The SCR ( Selective Catalytic Reduction ) catalytic converters manufactured by BUTTING are used in cruise ships and cargo ships to reduce their nitrogen oxide emissions by up to 90 %. In an effort to generate economic benefits for its customers , the family business relocated its series production for SCR catalytic converters from Knesebeck to Tieling ( China ). The Cluster 5 Double Layer has a diameter of 3,900 mm and a total weight of 28 metric tonnes . This is the first time that BUTTING has built an SCR catalytic converter of this size . After a successful water pressure test , the quality of the product was also confirmed during the final inspection by the customer MITSUI and MAN Energy Solutions recently . The component was then collected from Tieling on a low-loader and shipped from Dalian , China , to Tamano , Japan , via Kobe , Japan .
Jindal Stainless grants ESOPs to 150 employees
VDM Metals will increase sales by 15 % thanks to this new commitment to higher-value-added products . In tandem , Acerinox introduces Beyond Excellence , an ambitious and comprehensive operational excellence program for 2024 to 2026 . Both projects fall within the framework of Acerinox ’ s Strategic Plan and reinforce two of its pillars : Added Value , thanks to the new investments in VDM Metals , and Excellence , through the Beyond Excellence program . The projects will also have a direct impact on the plan ’ s other two pillars : Sustainability and Financial Strength . Acerinox focuses part of its strategy on the development and expansion of high-value-added products through investments in VDM Metals valued at EUR 67 million . These investments will increase the division ’ s sales by 15 % and strengthen integration by allowing the processing of high-performance alloys at the stainless steel manufacturing facilities at Campo de Gibraltar and increasing product range . The projects include the expansion of three remelting furnaces , the upgrade of an annealing and pickling line , and a defect detection line for bar .
Jindal Stainless Limited has announced an Employee Stock Option Plan ( ESOP ) for approximately 150 of its senior team members . The company granted 15,68,266 stock options to eligible employees under the Jindal Stainless Limited Employee Stock Option Scheme 2023 . The ESOPs will vest over a period of four years , alongside linkage to performance conditions . The primary objective of introducing ESOPs is to attract , incentivize and retain talent , fostering a shared sense of ownership and aligning the interests of the employees with those of the company .
Sverdrup Steel launches Horsens Service Center , Denmark
Sverdrup Steel announced the establishment of a new service center in Denmark , emphasizing sustainability and safety . Construction of the 13,000-square-meter facility in Horsens commenced in January 2024 , with full operations expected by January 2025 . Equipped with cutting-edge technology , including an automated container loading system , the center reaffirms Sverdrup Steel ’ s commitment to excellence in processing and distributing alloys while prioritizing health , safety , and sustainability . The strategic choice of Horsens underscores the company ’ s dedication to efficient logistics for its global clientele . The Horsens Service Center exemplifies the company ’ s dedication to sustainability and safety , positioning it for a brighter , safer future .
48 Stainless Steel World March 2024 www . stainless-steel-world . net