Norfolk Iron & Metal, Co. ("NIM"), a full-line steel service center, and The Coeur d'Alenes Company (Cd'A Metals), a full-line metal service center in the Inland Northwest, jointly announced that they have entered into a definitive agreement in which NIM will acquire Cd'A Metals. The transaction is expected to close on or before December 31, 2020. The acquisition will complement NIM's market coverage, adding three new locations in the Northwest, and fur

Rio Tinto, a leading global mining and metals company, and Nippon Steel Corporation, Japan’s largest steel producer, have signed a Memorandum of Understanding (MoU) to jointly explore, develop and demonstrate technologies to transition to a low-carbon emission steel value chain. Rio Tinto and Nippon Steel share a long history of working together, with the first shipment of iron ore from Australia to Japan coming from Rio Tinto’s Pilbara operations in 1966 and going to Ya

Olympic Steel Inc., a leading national metals service center, today announced that it has acquired the assets of Action Stainless & Alloys, Inc., the Company’s fourth acquisition in the past three years. The all-cash purchase is immediately accretive. Terms were not disclosed. Action Stainless & Alloys, based outside of Dallas, Texas, is a full-line distributor of stainless steel and aluminum plate, sheet, angles, rounds, flat bar, tubing and pipe and offers a range of

Midwest-based Contractors Steel, a portfolio company of UPG Enterprises LLC has acquired Los Angeles-based Borrmann Metal Center, a leading light structural and specialty metal service center. The acquisition expands Contractors Steel's footprint in the Southwestern United States and Mexico and increases its breadth of product offerings in previously untapped markets, including aerospace. Founded in 1919, by George and Jane Borrmann, Borrmann Metal Center helped pioneer metal wa

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,