NEWS

For our visitors who seek the latest industry news and updates to keep abreast with the goings-on of the business on a global scale, Plant Automation Technology portal grants a dynamic and diverse feed of news items.

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Virginia Forge, a steel processing plant in Buchanan, is planning to invest $4.6 million to expand its operations and hire 38 additional employees. In exchange, the company will get a break on local taxes worth about $66,000 over the next four years as part of a performance agreement approved Tuesday…

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The European Commission said on Thursday it had opened an investigation into alleged dumping by Chinese producers of a grade of steel used to reinforce concrete principally in Britain and Ireland. The Commission said it had received a complaint from European steel association Eurofer in March on behalf of producers…

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Indian steel producer Jindal Steel & Power Ltd. tumbled to its lowest level in four months in Mumbai trading after the Central Bureau of Investigation filed charges against the company, its owner Naveen Jindal and 13 others. The shares fell as much as 7.4 percent to 135 rupees, their lowest…

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POSCO's year-on-year increase in profitability in the first quarter indicates that the steelmaker's "solution marketing" and premium products are being recognized in the market, officials said Wednesday. Solution marketing refers to a service package POSCO introduced last year, in which the company is committed to enhancing customers' competitiveness by offering…

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U.S. Steel reported a first-quarter loss Tuesday, weighed down by a crush of cheap imports, depressed energy market conditions and a charge for shutting down raw materials production facilities. The Pittsburgh steel producer said it lost $75 million, or 52 cents per share, vs. earnings of $52 million, or 34…

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With China now the largest iron and steel producer in the world, and with domestic competition fiercer than ever, more Chinese companies in this field are seeking opportunities overseas. As the second largest iron & steel manufacturer in the world, Hebei Iron & Steel Group is looking to expand its…

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The world’s leading Kobelco Welding, a group company of Japan’s Kobe Steel Limited, has announced its entrance into Bangladesh, eyeing the country’s fastest growing shipbuilding industry. The company is now selling its wielding equipment to the Western Marine Shipyard, the country’s leading shipbuilders, through its local dealer Tsi Marine Ltd.…

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AK Steel posted a $306.3 million loss in its first quarter. The West Chester-based steel maker on Tuesday morning reported the loss of $1.44 per share, which was higher than expected because it reduced the value of a joint venture on its books by $256.3 million. That was taken as…

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United Iron & Steel (UIS), a joint venture between UAE-based Abdul Jalil Group and Safid Group, a leading manufacturer of indoor climate solutions based in Saudi Arabia, has announced plans to build a new galvanised steel production plant in Abu Dhabi, UAE, at an investment of Dh1 billion ($272 million).…

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Diversified global industrial company Harsco Corporation announced it has begun its previously announced multi-year contract to provide onsite material processing services to India's largest stainless steel producer, Jindal Stainless Limited (JSL). The project at JSL's all-new production facility in the growing steel-producing area of Jajpur, Odisha marks Harsco's fifth major…