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Found 23 records | Page 1 of 3

VTB Bank Provides Financing to Vyksa ...

by tubelinks on 10/30/2012 - 06:02 pm
Tag: Press Release

VTB Bank has opened a revolving credit linewith a limit of RUB 6 billion (US$ 190.6 million) for Vyksa Steel Works, part of Russia's United Metallurgical Company (OMK), for a period of three years.   



The company will use the funds to finance its current operations and increase its working capital.   



"A loan facility from VTB is an important landmark in building long-term cooperation between OMK and the bank," OMK President Vladimir Markin said. "The cash will be extended on convenient terms, which is in line with our strategy of keeping our debt burden low."   



"VT ...

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Baoshan Steel to Invest $1.3 Billion ...

by tubelinks on 10/30/2012 - 05:54 pm
Tag: Press Release

Baoshan Iron & Steel Co., China’s biggest publicly traded steelmaker, will invest 8 billion yuan ($1.3 billion) in a natural-gas pipeline as overcapacity and higher raw material costs squeeze its profit margins for steel.



The company will own about 13 percent of China National Petroleum Corp.’s third pipeline project, which will link the Xinjiang region in the nation’s west with Fujian province in the east, according to a statement to the Shanghai stock exchange yesterday. China National Petroleum, the parent of PetroChina Co., is a key client of Baoshan.



Baoshan, facing sluggish demand from automakers and builders, is looking to divers ...

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Sparks Fly at Tata's Offshore Wind Ja...

by tubelinks on 10/27/2012 - 08:03 pm
Tags: Press Release, Projects

The 42-inch-tube mill, on the edge of Hartlepool Bay, is one of three at the  site that Tata eventually expects to feed into its £2m ($3.2m) Offshore   Processing Centre (OPC), opened last month, where steel tubes would be prepared for welding into ready-to-assemble wind turbine substructures.



Tata Steel, which  supplies the oil and gas, construction, automotive and aerospace industries,  hopes that rising demand for offshore turbines means tubulars rolling out of  the factory will soon be used in jacket and tower construction.



By tailoring the tubes to specific lengths and then shot-blasting, coating ...

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Izhora Pipe Mill pipe supplies for Bo...

by tubelinks on 10/27/2012 - 07:29 pm
Tag: Press Release

Russian steel producer Severstal's subsidiary Izhora Pipe Mill which specializes in large diameter pipe production using strip produced by CherMK has announced that it has supplied more than 700,000 mt of pipes for the Bovanenkovo Uhta gas pipeline project since 2007.


Deliveries of pipes from Izhora Pipe Mill account for around 40% of the total supply for the project by Russian companies. High strength pipes were supplied by Izhora Pipe Mill for the construction of a part of the gas pipeline in adverse climatic conditions with low temperatures.



Source:  Steel Orbis

Germany's Benteler Steel/Tube Selects...

by tubelinks on 10/27/2012 - 07:18 pm
Tag: Press Release

At a news conference with Louisiana Gov. Bobby Jindal, Benteler Steel/Tube announced it will build a new hot rolling tube mill in Caddo, Louisiana, strengthening the company's position in the North American oil country tubular goods (OCTG) market. The facility – a total investment of nearly $900 million – will be Benteler Steel/Tube's first U.S. production facility and will create more than 1,000 construction jobs,an estimated 675 full time jobs when at full capacity, and numerous indirect jobs with suppliers and service providers to the plant.



"We are pleased to announce that Northwestern Louisiana will be home to the first U.S. production facility for Benteler ...

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Gazpromtrubinvest starts building Pha...

by tubelinks on 10/26/2012 - 07:54 pm
Tag: Press Release

Russia based steel pipe producer Gazpromtrubinvest has announced that it has started construction of the third phase of its new steel pipe plant in the Kostroma region, costing RUB 10 billion.


The Phase III mill will produce medium diameter steel pipes for the oil and gas industry. Construction is expected to be completed by 2015. The estimated output capacity of the third phase facility is 350,000 mt of pipes per year.


Gazpromtrubinvest is a subsidiary of Russia's Gazprom, the largest extractor of natural gas and one of the largest companies in the world.


Source: Steel Orbis

Michigan Seamless Tube Expands Pickli...

by tubelinks on 10/24/2012 - 08:12 pm
Tag: Press Release

Michigan Seamless Tube ("MST"), a leading manufacturer of high-quality carbon and alloy seamless cold-drawn pipe and tube, today announced that it will complete construction on a new 9,600 square foot pickling house later this year. The new pickling house will be the fifth of its kind at the company's modernized 320,000 square foot facility, enabling MST to produce an additional450 tons of product monthly. The pickling process is a surface treatment that removes oxides and scale from the steel tubes, and is an integral part of the cold-drawn process.



"The addition of a fifth pickling house is part of our broad plan to invest capital and resources into our facility so that we ...

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TMK North America's Operations Down D...

by tubelinks on 10/23/2012 - 07:20 pm
Tag: Press Release

TMK shipped a total of 3,146 thousand tonnes of steel pipe to customers, a decrease of 1.5% year-on-year. Reduction in total shipments was primarily due to lower sales volumes in the welded large diameter pipe (LDP) business. Shipments in the third quarter of 2012 were flat with the second quarter of 2012.


In the first nine months of 2012, shipments of tubular products from TMK’s American division grew by 12.0% year-on-year to 836 thousand tonnes.



All products with the exception of seamless line pipe continue to be higher yearover-year for the first nine months.  Shipments in the third quarter of 2012 equaled 265 thousand tonnes, down 7.5% compared wit ...

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Konecranes Gets Order for China-owned...

by tubelinks on 10/23/2012 - 07:10 pm
Tags: Press Release, Projects

In one of the largest orders it has received in the US, Konecranes has been awarded a contract to supply all of the cranes for TPCO America Corporation’s new seamless steel pipe manufacturing facility near Gregory, Texas. The turnkey order includes 24 cranes for the melt shop, rolling mill and finishing mill. The crane delivery will begin in October of 2013, and will be operational by April, 2014. The order has been booked into Konecranes’ third quarter 2012 order intake.



According to Tianjin Pipe (Group) Corporation (TPCO), this project represents the largest single investment by a Chinese company in a US manufacturing facility to date. TPCO will invest almost E ...

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Alfagomma Gets Tax Credits for New St...

by tubelinks on 10/23/2012 - 07:03 pm
Tag: Press Release

Alfagomma America was one of six companies to receive financial assistance Friday from the Iowa Economic Development Authority board. 


The financial assistance awarded was to help the Iowa facilities with job creation, expansion and small business development projects. The awards will assist in the creation of 112 new jobs and will result in $15.8 million of new capital investment to the state.


The Alfagomma America plant in Burlington plans to take over the stainless steel tube production for its affiliate in Italy. The $1.3 million capital investment by Alfagomma America includes the purchase and installation of new equipment this year. The project is expected to c ...

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