Industry Update
CTA acquires Raccortubi Group lived culture of innovation and agile innovation methodology enables its employees to both generate their own ideas and impulses as well as to independently drive them forward . Defined processes and the continuous inclusion of employees in the company ' s strategic focus further promote these activities . This also actively boosts the understanding of technical challenges on the market and an innovative mindset to overcome them . Regular “ Idea Management ” meetings ensure the highest possible level of transparency regarding the progress of technical projects inside the corporate group . This , in turn , makes it possible to actively integrate employees into ongoing developments and provide them with the opportunity to make contributions .
CTA Group has acquired 100 % of Raccortubi Group . The operation seals the strategic alliance and the fruitful collaboration already started in 2020 and strengthens the positioning of both companies , creating a new leading Group in the reference sector , with a consolidated international presence , especially in the Middle East , Asia , Africa , South America and Europe . With the acquisition of 100 % of Raccortubi , CTA further strengthens its presence in the stainless steel market , integrating the production of Raccortubi with the traditional trading core business . The acquisition will allow the new entity to reach forecast revenues at the end of 2023 of 265.7 million euros , EBITDA of 20.2 million euros and a net result of 8.5 million .
Gulf-to-Europe H2 pipeline project
Poppe + Potthoff TOP 100 Award
The Poppe + Potthoff group has earned a place as one of Germany ’ s TOP 100 companies . The family-owned company ’ s award is the outcome of its ongoing transformation into a development partner for sustainable technologies . P + P ' s
RINA , the inspection , certification , and consulting engineering multinational , and AFRY , a European leader in engineering , design , and advisory services , have undertaken an initial study of how the Gulf region and Europe could be linked directly with a pipeline to transport low-carbon hydrogen . The results indicate a transformative opportunity to fully unlock the Gulf ' s immense potential as a cost-effective source of low-carbon hydrogen for Europe . The concept of a hydrogen pipeline connecting Qatar , Saudi Arabia , Egypt , and traversing the Mediterranean Sea to Europe may seem ambitious , but initial assessment indicates its feasibility . The analysis shows that a suitable pipeline configuration could transport 100 TWh or approximately 2.5 million tonnes of hydrogen annually . Moreover , by constructing additional pipelines of the same nature , the transport capacity could be significantly scaled up . The cost of transporting hydrogen through this pipeline is initially seen at approximately 1.2 EUR / kg H2 . The Gulf countries , in turn , could supply green and blue hydrogen to the economic hub of Europe at Levelised Costs Of Delivered Hydrogen ( LCODH ) of around 2.7 EUR / kg starting from the 2030s , decreasing to around 2.3 EUR / kg in the longer term .
72 Stainless Steel World September 2023 www . stainless-steel-world . net