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Russia TMK 2012 first quarter Net Pro...

by tubelinks on 05/31/2012 - 08:18 pm
Tag: Press Release

TMK, Russia's largest maker of steel pipes for the energy sector, said, its 2012 first quarter net profit was flat, and second quarter core earnings will remain unchanged as its U.S. sales could be pressured by imports.


Analysts polled by Reuters had expected the company to post a first quarter net profit of $92 million, down from $104 million in the year-earlier period.  The company, controlled by businessman Dmitry Pumpyansky, said it expected its EBITDA in the second quarter to remain flat against the first quarter.


TMK expects some pressure on the U.S. market, where it generates almost a quarter of its sales volumes through deliveries from their U.S. faciliti ...

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Sultanate’s first Major Stainless Ste...

by tubelinks on 05/29/2012 - 04:58 pm
Tag: Projects

An agreement was signed for the establishment of the Sultanate’s first major stainless steel plant at Freezone Sohar. The estimated 1-million-tonne capacity project will be developed by a joint venture of South African stainless steel manufacturer Steelmor and Teejan Logistics, a subsidiary of the Omani-owned Teejan Group of Companies.


The signing took place under the patronage of Shaikh Saad bin Mohammed al Saadi, Chairman of the Board of Port of Sohar. Representing the joint venture partners were Hamed al Harrasy, Chairman of Teejan Group, and Mark Kay Clough of Steelmor. Andre Toet, CEO of Port of Sohar, and Jamal T Aziz, Deputy CEO of Port of Sohar and CEO of Freezone ...

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STEEL: Industry Will Benefit from Fur...

by tubelinks on 05/28/2012 - 01:27 am
Tag: Press Release

The North American steel industry has to capitalize on the development of domestic shale energy resources in order to be competitive at the international level.  U.S. Steel Chairman and CEO John Surma said in a teleconference hosted by the American Iron and Steel Institute the shale discoveries keep "gas both reliable and available at competitive costs."


The gas will be important to helping integrated steelmakers reduce their costs, but Surma said the pipe and tube products are key to exploring, producing and trasmitting natural gas, oil and other commodities from the underground resources.


In April, U.S. Steel projected its tubular segment would perform well and ...

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US Sets More Duties on India Steel Pipe

by tubelinks on 05/26/2012 - 01:47 am
Tag: Press Release

The United States piled another layer of preliminary duties on a certain type of steel pipe from India, one month after New Delhi complained at the World Trade Organization about an earlier U.S. round. The U.S. Commerce Department said it had determined that Indian companies were selling circular welded carbon-quality steel pipe in the United States at 48.43 percent below fair market value.


The duties will require importers to post bonds or cash deposits based on the preliminary rates until a final decision on anti-dumping duties is made later this year.The department also set preliminary anti-dumping duties on this kind of pipe of zero to 27.96 percent for Vietnam, 5.59 percent ...

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Yalian Steel Secures RMB 30 Million T...

by tubelinks on 05/25/2012 - 01:33 am
Tag: Press Release

Yalian Steel Corporation (TSX VENTURE:YL) ("Yalian" or the "Company") announces that it has obtained a trade finance for RMB 30 million (CAD $4.8 million) from the Industry and Commercial Bank of China ("ICBC") to fund the working capital requirements of Yangzhou Yalian Steel Pipe Co., Ltd ("Yangzhou Yalian"), a wholly-owned subsidiary of the Company in China Availability of such trade finance further enhances the Company's ability to secure contracts in the future.


ICBC advanced RMB 30 million to Yangzhou Yalian on May 17, 2012 to meet its cash needs arising from filling several sales orders recently obtained by Yangzhou Yalian. The loan matures on August 19, 2012 and carries a ...

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Sandvik Opens the world's Largest Mil...

by tubelinks on 05/22/2012 - 04:35 pm
Tag: Press Release

Culmination of a significant investment program in future tube production, Sandvik has officially opened the world’s largest dedicated mill for the advanced manufacturing of stainless steel and high nickel alloy tubes for use in nuclear power plant steam generators at its facility in Sandviken, Sweden.


The new mill utilizes the latest state-of-the-art technology, including innovative advances in equipment design from tube manufacture, annealing, final finishing, inspection and despatch. All contained within one dedicated production facility.



Officially inaugurating the new mill, President of Sandvik Materials Technology Jonas Gustavsson said, “Th ...

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Baosteel HFW High-grade Line Pipes' P...

by tubelinks on 05/21/2012 - 06:48 pm
Tag: Press Release

Recently, two freighters fully loaded with Baosteel HFW line pipes are heading for Australia and Indonesia. At a time when the entire steel pipe market is in downturn, Baosteel HFW products sell very well. In the past four months, full production is realized with 100,000 tons of total output. It has been awarded numerous exit gas pipeline production tasks in Queensland, Australia, Indonesia SPP and Ecuador, with exports accounting for more than 40% of the total output and hitting historical record.



The prospering HFW pipe factory production situation is due to the factory's in-depth practice of Pipeline Steel Department's "3 +2" development strategy and continuing to enhanc ...

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Dakota Tube Plant Adding 30 Jobs

by tubelinks on 05/18/2012 - 08:06 pm
Tag: Press Release

Spurred on by a strong agricultural economy, a Webster plant is doubling its work force. Dakota Tube is hiring 30 workers at its Webster facility at 1741 Commerce Lane. The plant currently has 29 workers.


Dakota Tube, with headquarters in Watertown, makes a range of steel hydraulic tubes, which are used in equipment made by such manufacturers as Doosan Bobcat, John Deere, Case New Holland and Crown.



"The Watertown plant is bulging at the seams, and we were looking to expand," said Anna Steinbauer, one of the owners. "Webster has been a very welcoming community and has provided us with a good, solid work force."


The company is accepting applications no ...

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Nucor To Acquire Skyline Steel LLC

by tubelinks on 05/18/2012 - 06:21 pm
Tag: Press Release

Nucor Corporation announced that it has signed a Stock Purchase Agreement to acquire the membership interests of Skyline Steel LLC and its subsidiaries from ArcelorMittal, for approximately $605 million. Skyline Steel will be a wholly owned subsidiary of Nucor Corporation and will maintain its headquarters in Parsippany, New Jersey.


"We are extremely excited to announce the acquisition of a company that has been a leading partner in growth in piling production for the last 20 years," said Daniel R. DiMicco, Chairman and CEO of Nucor Corporation. "With its considerable distribution network, excellent customer service and strong technical support, Skyline is well positioned to con ...

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Enbridge Plans Huge Canada, US Pipeli...

by tubelinks on 05/18/2012 - 05:53 pm
Tag: Projects

Enbridge Inc  kicked off one of the most sweeping expansions in its history, a C$3.2 billion ($3.2 billion)series of projects across its pipeline system aimed at moving western Canadian crude to Eastern refineries and preventing bottlenecks in the U.S. Midwest.


Enbridge, already the largest transporter of Canadian oil exports, said C$2.6 billion worth of the plan would support the reversal in flow direction of a pipeline between Sarnia, Ontario, and Montreal to move crude from the Alberta oil sands and North Dakota's Bakken Region beyond southern Ontario.


The massive initiative would include additions of capacity to the company's mainline in Canada and the U.S. ...

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