ArcelorMittal announces that it has signed a binding agreement (the 'Investment Agreement') with Invitalia, an Italian state-owned company, forming a public-private partnership between the parties. The Investment Agreement will result in a recapitalization of AM InvestCo, ArcelorMittal’s subsidiary which signed the lease and obligation to purchase agreement for Ilva’s business. Invitalia will invest in AM InvestCo in two tranches: The first investment of

Cleveland-Cliffs Inc. announced that it has successfully completed the acquisition of substantially all of the operations of ArcelorMittal USA LLC and its subsidiaries (“ArcelorMittal USA”), forming the largest flat-rolled steel producer in North America. On a full-year 2019 basis, the combined Company generated pro-forma revenues of approximately $17 billion and combined adjusted EBITDA of approximately $1.7 billion, including previously disclosed expected synergies. In

Alcoa Corporation announced that three more of its operating locations have earned certifications from the Aluminium Stewardship Initiative (ASI), the industry’s most comprehensive system for third-party validation of sustainable manufacturing processes. The latest facilities to earn the Performance Standard certification include the Fjarðaál smelter in Iceland, the Lista smelter in Norway, and the San Ciprián refinery in Spain. The Company now has

U.S. steel producer Big River Steel has successfully commissioned the second construction stage of its steel plant in Osceola, Arkansas, supplied by SMS group. Also for the mill expansion, which doubles the mill’s annual production capacity to approximately three million tons of steel, SMS group supplied the mechanical equipment, the electrical and automation systems, and the digitalization technology. Now, with the second construction stage completed, Big River Stee

United States Steel Corporation announced it has exercised its call option to acquire the remaining equity of Big River Steel (“Big River Steel”) for approximately $774 million from cash on hand. The company ended November with approximately $2.9 billion of liquidity, including over $1.7 billion of cash. The transaction is expected to be immediately accretive to earnings with the potential for significant synergies to further support long-term value creation. The transaction is su

BasketballNews.com announced the addition of a new weekly podcast hosted by former NBA All-Star Kenyon Martin to the Basketball News Podcast Network. Martin’s podcast, “Neat and Unfiltered,” will feature analysis on a wide range of topics as well as conversations with high-profile guests including athletes, musicians and entertainers with new episodes released every Friday. “I’m very excited for the opportunity to share my point of view with the people,

GFI Asia Partners Pte. Ltd ("GFI"), a subsidiary of BGC Partners, Inc., a leading global brokerage and financial technology company, announced that it took a majority stake in a newly established joint venture company in China, GFIGS Commercial Consulting (Shanghai) Co., Ltd ("GFIGS"), offering OTC derivatives brokerage service. GFI's joint venture partner, Guizhou Big Data Capital Service Centre Co., Ltd. ("Guizhou Big Data Capital"), is a modern s

TimkenSteel Corp., a leader in customized alloy steel products and services, today announced it will increase base pricing on all special bar quality (SBQ) products by $25 per ton. This increase is applicable to orders not already covered by pricing agreements and is effective for shipments beginning January 4, 2021. All surcharge mechanisms remain in effect. About TimkenSteel Corporation TimkenSteel manufactures high-performance carbon and alloy steel produc

Race Rock Group (“Race Rock”), a Houston-based private investment firm, has entered into a definitive agreement to acquire Structural & Steel Products, Inc. (“SSP”), a portfolio company of Highland Capital Management (“Highland”). Structural & Steel Products, based in Ft. Worth, Texas, is a leading distributor and manufacturer of transportation, telecommunications, transmission and utility infrastructure products. SSP was founded in 1969 a

The latest generation of the EAF unit will be installed at the steelmaker’s facility in Welland (Ontario) and will be equipped with Tenova’s state-of-the-art electronic regulation TDRH 4.0 system. Tenova was awarded a contract by Valbruna ASW Inc., for the supply of a new EAF (Electric Arc Furnace). Valbruna ASW Inc. is a premier specialty steel-maker and the EAF will be installed at its facility located in Welland, Ontario (Canada). The scope of the supply inc