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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Tata Steel(TISC.NS) is in talks with employees about transferring its "long products" unit into a wholly-owned subsidiary, but said talks to sell the business to Swiss-based Klesch Group continue. The steelmaker said in October last year it was in talks to sell the unit, which employs 6,500 people mostly in…

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Capital Coated Steel has invested £3.5m in acquiring and refurbishing new premises at North Black Vein Industrial Estate in Cross Keys, supported by funding from Barclays. The new 130,000 sq ft will house additional machinery imported from the US and allow the company to consolidate its three businesses under one…

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Posco may shelve 8 mtpa plant as it will now have to take part in auction for securing the Khandadhar mines for running the plant The government is planning to set up ‘Korea Plus’ to attract and fast-track Korean investments into the country, even as the single largest foreign direct…

Thursday, May 28, 2015
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Essar Steel has reported profits of Rs 648 crore for the financial year 2015 compared to a loss of Rs 1,597 crore last year. The turnaround, amidst declining steel price, has happened due to operational efficiencies and asset sale worth Rs 4,850 crore. The companies operating margins doubled to 18…

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POSCO will export its new iron-making technology FINEX to overseas markets. The technology has been developed by the company in cooperation with Siemens VAI, and has remained mostly proprietary. POSCO announced on May 27 that it received the final approval from the Chinese government on May 22 to construct an…

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Steel companies without captive iron supplies have a reason to cheer. Domestic iron ore prices are expected to slide in the coming months, with improved supply from Odisha and Karnataka, apart from higher production by NMDC. Government-owned NMDC will be raising its output by 31 per cent to 46 million…

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Naveen Jindal-led Jindal Steel and Power Ltd (JSPL) today fell as much as 4.09 per cent in intraday trade on Thursday after the company on Wednesday reported a consolidated net loss of Rs 519.30 crore for the quarter ended March 31, 2015 due to subdued demand and cheaper imports of…

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A prospective buyer has emerged who wants to save the Georgetown steel mill from its impending doom. A Florida entrepreneur who tried twice before to buy the plant thinks now is his chance to acquire it and keep it running. Joseph G. Wortley of Boca Raton is to meet with…

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The chairman of China's state-owned Guangxi Liuzhou Iron & Steel has been charged with embezzlement and taking bribes, media reported, in an apparent sign that the government has escalated an anti-graft campaign in the steel sector. Liang Jingli, chairman of Liuzhou Steel, went on trial on Tuesday, and was accused,…

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POSCO Co., South Korea's largest steelmaker, said Wednesday that it has gotten the nod from China to build a steel mill that uses its cutting-edge Finex technology. POSCO has been pushing to get permission from China to build the steel mill with an annual production capacity of 3 million tons…