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U.S. Steel Beats Estimates on More Pr...

by tubelinks on 07/31/2012 - 08:32 pm
Tag: Press Release

U.S. Steel Corp., the country’s largest producer by volume, reported second-quarter earnings that beat analysts’ estimates as it sold more profitable varieties of the alloy.

 

 

Excluding the cost of paying off some debt early, per-share profit was 69 cents, 20 cents more than the average of 19estimates (X) compiled by Bloomberg. Net income fell 55 percent to $101 million, or 62 cents a share, from $222 million, or $1.33, a year earlier, Pittsburgh-based U.S. Steel said in a statement today. Sales declined 2 percent to $5.02 billion from $5.12 billion.

 

 

Facing declining demand, U.S. Steel is seeking to sell more profitable products, such as metal trea ...

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Severstal Izhora to Produce New Pipes...

by tubelinks on 07/27/2012 - 08:28 pm
Tag: Press Release

The Izhora Pipe Mill, which specializes in large diameter pipes production using strip produced by CherMK (Severstal Russian Steel), and Gazprom have signed a long-term scientific and technical cooperation program.

 

The program scheduled for 2012-2016 will focus on production of tubular goods for deep-water sea pipelines, development of rolled products and pipes to transport hydrogen sulfide gas, pipes for areas of active tectonic faults.

 

Manufacturing of high quality pipes for projects on Yamal peninsula, in Eastern Siberia and the Far East will also be the part of the program.

 

Scientific and technical cooperation will be realized on the basis of Izhora Pipe Mill w ...

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B.C. pegs pipeline tax benefit $6.7 B

by tubelinks on 07/25/2012 - 08:20 pm
Tags: Press Release, Projects

The $6.7 billion in tax revenues that British Columbia is expected to receive  from the Northern Gateway pipeline is just not enough when compared to the  project's risk, says the province's Minister of Environment.

 

 

In fact, Terry Lake said Monday said that he sees those projected tax  estimates, which the province would receive for 30 years starting in 2016, as  just a "starting point" of future discussions.

 

 

Already though, Alberta Premier Alison Redford has rebuffed any suggestion of  increased compensation, saying a review by the National Energy Board and an  extra $500 million pledged by Enbridge to improve safety weaken B.C ...

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Northwest Pipe Company Awarded Larges...

by tubelinks on 07/24/2012 - 03:19 pm
Tags: Press Release, Projects

Northwest Pipe Company, an industry leader of engineered welded steel pipe products, was selected to provide 45,950 feet of 84 inch and 113,600 feet of 96 inch cement mortar lined and polyurethane coated welded steel pipe for three sections of Lake Texoma Outfall to Wylie Water Treatment Plant Raw Water Pipeline Project.

 

 

The pipeline will restore North Texas Municipal Water District's raw water supply which has been shut down since zebra mussels were found in Lake Texoma. The pipeline will transport raw water from Lake Texoma directly to NTMWD's existing Lake Lavon water treatment facility and will ensure NTMWD's member cities have an adequate supply of water.

 

&nb ...

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Gazprom Cutbacks hit Russian Steel Pi...

by tubelinks on 07/23/2012 - 02:35 am
Tag: Press Release

Reuters reports that Russia manufacturers of steel pipes will lose a big chunk of sales this year after their main customer Gazprom decided to slash purchases of tubes for its gas pipeline projects.

 

State controlled Gazprom told the steel pipe industry last month that it would cut purchases of large diameter pipes by 40% to about 1.4 million tonnes this year due to uncertainty over some projects. Gazprom revealed the cuts at a meeting in Chelyabinsk in June, saying it would scale back purchases after completing the first phase of its Nord Stream pipeline to export gas to Europe under the Baltic Sea.

 

Gazprom stalled talks on the development of the Arctic Shtokman gas field w ...

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Welded Tube Moves Closer to $50M Lack...

by tubelinks on 07/19/2012 - 04:22 pm
Tag: Press Release

A Canadian firm has agreed to invest more than $50 million in building its first U.S. operations in Lackawanna.  Welded Tube of Canada Inc. cleared one of its final hurdles when the Erie County Industrial Development Agency’s Erie County Industrial Development AgencyLatest from The Business JournalsECIDA agrees to help charter schoolECIDA mulls West Side conversion project Chippewa in the daylightFollow this company board unanimously approved an incentive package to advance the project.

 



Welded Tube, a manufacturer of cold-formed carbon and low-alloy tubular-steel products, is proposing a series of three projects that will ultimately see the Toronto-based firm cr ...

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CenterLine Precision Tube Bending, In...

by tubelinks on 07/19/2012 - 04:10 pm
Tag: Press Release

CenterLine Precision Tube Bending, Inc., a Bay Area company that specializes in metal fabrication, tube bending, and tube coiling, is proud to be celebrating its 17th anniversary in July.  Lenaye J. Osborne, President, attributes the company's success to its skilled staff and high quality standards that assures clients of excellence in its products as demonstrated recently with the award of a major contract to manufacture railcar components used in light rail systems.

 

 

“From the time the material is ordered to the packaging of finished parts, all production is controlled by our internal quality assurance program to ensure precision, accuracy, and consistency with ...

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MoU Inked For Steel Mill and Tube Mil...

by tubelinks on 07/18/2012 - 07:36 pm
Tag: Press Release

The governor of the Perm krai Mr Victor Basargin, Chairman of the Board of Directors of CJSC UMC Mr Anatoly Grizzly and General Director of JSC CMP Mr Anatoly Karpov signed July 14 in Chusovaya memorandum of cooperation timed to the beginning of the project construction tube-steel complex.

 

Power complex to be built in Chusovoy will annually produce 875,000 tonnes of steel from which will be made each year to 500,000 tonnes of seamless oil and gas pipes and 400,000 tonnes of long products.

 

The total cost of building a new production of about RUB 50 billion.

 

Savings for the project will provide a loan of RUB 33.8 billion for up to 12 years. Enforcement of obligation ...

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Pipe Imports Hurt Canadian Domestic P...

by tubelinks on 07/15/2012 - 08:20 pm
Tag: Press Release

A federal agency reported there's reasonable evidence that domestic  producers of carbon steel welded pipe have been financially harmed by imported  products sold in Canada at excessively low prices.

 

 

The Canadian International Trade Tribunal began its investigation in May  after receiving complaints from Novamerican Steel Inc. of Montreal and Bolton  Steel Tube Co. Ltd. of Bolton, Ont.

 

 

The Canada Border Services Agency is continuing its investigation of the  alleged trade infractions and will issue a report by Aug. 13.

 

 

Novamerican and Bolton Steel Tubes allege they are the victims of dumping and  subsidization o ...

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Tube Investments To Acquire Shanthi G...

by tubelinks on 07/14/2012 - 05:21 pm
Tag: Press Release

Tube Investments of India Ltd is acquiring majority stake in Coimbatore-based Shanthi Gears Limited.

 

The board of Chennai-based Murugappa group company - Tube Investment has approved the acquisition of 36.05 Mn equity shares of Shanthi Gears, representing 44.12% stake from Shanthi Gears' promoter Subramanian, at Rs. 81/- per share, aggregating to R292Cr.

 

Tube Investments has made an Open Offer to acquire additional 21.24 Mn  shares, representing 26% of the paid up share capital of SGL, at a price of Rs 81/- per share.

 

 

Earlier, Shanthi Gears had held talks with Hansen Transmissions International NV, owned by Pune-based Suzlon Energy and Sundaram Fastne ...

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