[ Industry Update ]
[ Industry Update ]
ArcelorMittal completes acquisition of strategic stake in Vallourec
T & H Lemont ships third of three TIG mills
ArcelorMittal announces that following the signature of a Share Purchase Agreement on 12 March 2024 , and after the approval of relevant antitrust authorities and clearances under foreign investment regulations , it has completed the acquisition of 65,243,206 shares , representing c . 28.4 % equity interest in Vallourec , for EUR 14.64 per share from funds managed by Apollo Global Management Inc ., for a total consideration of approximately EUR 955M , subject to successful completion of the settlement . Following the completion of this transaction , the appointment of Mr . Genuino Magalhaes Christino ( Chief Financial Officer , ArcelorMittal ) as director of Vallourec will become effective , Keith Howell ( Chief Operating Officer , ArcelorMittal USA ) will be appointed as director of Vallourec , and Aditya Mittal as observer of Vallourec , subject to successful completion of the settlement . ArcelorMittal does not intend to launch a tender offer for Vallourec ’ s remaining shares over the next six months and will inform the market should this intention change .
TÜV Rheinland joins EEMUA
T
& H Lemont has shipped the third of three TIG mills to a producer of stainless steel pipe for commercial HVAC , industrial refrigeration , power generation , and industrial processing applications . These three identical mills , model WU11M-12 , produce pipe diameters from 3 / 8 to 1.050 in . in wall thicknesses from 0.020 to 0.065 in . The mill speed is 50 FPM . The system includes entry equipment , a double uncoiler , a shear end welder , and an accumulator . It has a six-roll , water-cooled weld box and an inert gas system to help protect and cool the weld , and a camera-based weld seam tracking unit provides lateral and vertical positioning of the tricathode welding carriage . Each welding torch has an independent adjustment , and the system uses arc voltage control for welding parameter stability . The hybrid flying cutoff system uses a model FCO-125 carriage drive system from T & H Lemont and a rotary cutting head specified by the customer .
Kloeckner Metals Corporation acquires Amerinox Processing
TÜV Rheinland Industrial Services in the UK is the newest member of EEMUA ’ s Associate Company Scheme , open to organisations worldwide that provide goods and professional services to owners and operators of industrial assets . TÜV Rheinland Industrial Services provides technical services to the process industries , aiding them in achieving operational excellence through safe , reliable , efficient , and sustainable operations . Deovonne Ferreira , EEMUA Head of Membership , commented : “ We are delighted to welcome TÜV Rheinland Industrial Services as an Associate and look forward to their participation in EEMUA ’ s activities , supporting our aim of helping improve the safety , environmental and operating performance of industrial assets worldwide ”.
Kloeckner Metals Corporation is excited to announce its acquisition of Amerinox Processing , exclusively for the Camden , New Jersey location . Amerinox Processing is a full-range stainless steel and aluminum toll processor and an industry leader with polishing capabilities , including # 8 mirror finish . Other services include buffing and cutto-length services for both sheets and plates . The strategic move supports Kloeckner ’ s ongoing commitment to enhance its portfolio of higher value-added processing capabilities and services . The acquisition is strategically located near a major port providing the optimal solution for the development and management of highly competitive , global supply chains . Amerinox ’ s entire management team remains intact and will continue to operate the business , ensuring a smooth and seamless transition for our new employees and customers .
64 Stainless Steel World September 2024 www . stainless-steel-world . net