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Beleggen in staal
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Re: Beleggen in staal
US Steel deal ‘doomed’, says union ‘steadfast’ in opposition to takeover by Nippon Steel
(Sept 13): The United Steelworkers (USW) union said it will not be bullied into accepting Nippon Steel Corp’s last-ditch efforts to win over workers for its takeover of US Steel Corp, calling the US$14.1 billion (RM60.9 billion) acquisition a “doomed deal” and pledging to fight any foreign ownership of the company.
The memo, sent to “interested parties” including the White House on Thursday, is the latest in a public struggle to win hearts and minds as the fate of the deal hangs in the air, with US President Joe Biden’s threat to block it looming large.
“In its desperate attempt to save a doomed deal, US Steel executives have turned to one of the oldest tricks in the book — attempting to divide USW members and retirees to distract us from the multimillion-dollar payoffs they stand to gain personally,” union president Dave McCall wrote on Thursday in the memo, obtained by Bloomberg. “Union members and retirees remain steadfast in our opposition.”
This week, the two companies unveiled their correspondence with the USW to show how union leaders snubbed efforts to negotiate an agreement. That’s after the Pittsburgh-based company came out and warned that plants could be shut down if the sale fell through, prompting some workers to voice their support for a new owner.
“Many people profess to want what is best for our employees, and that is why we negotiated a deal with a partner who will bring US$2.7 billion of transformative investments in USW-represented facilities, keeping them in operation for decades to come,” US Steel said in a statement, when asked on Thursday for comment on the McCall memo.
Nippon referred to a previous statement, saying the deal “will benefit American workers, local communities, and national security in a way no other alternative can”.
Biden is preparing to kill the deal once a referral from the Committee on Foreign Investment in the US, or CFIUS, reaches his desk, people familiar with the matter said last week. As of Wednesday, the matter remained with the CFIUS. Biden has regularly said US Steel should remain domestically owned, which McCall echoed in his memo.
“We will not be bullied into going backward and accepting a bad deal,” McCall wrote. “Our commitment has never been more clear: Keep US Steel US-owned.” Nippon Steel Corp is a Japanese company.
McCall has long opposed the acquisition, as have Biden and former president Donald Trump. Vice President Kamala Harris announced her position on Labor Day, saying US Steel should remain domestically owned.
The drama has played out as Pennsylvania, where US Steel is based, is considered a crucial prize by both Harris and Trump in the November presidential election.
Uploaded by Tham Yek Lee
https://theedgemalaysia.com/node/726648
(Sept 13): The United Steelworkers (USW) union said it will not be bullied into accepting Nippon Steel Corp’s last-ditch efforts to win over workers for its takeover of US Steel Corp, calling the US$14.1 billion (RM60.9 billion) acquisition a “doomed deal” and pledging to fight any foreign ownership of the company.
The memo, sent to “interested parties” including the White House on Thursday, is the latest in a public struggle to win hearts and minds as the fate of the deal hangs in the air, with US President Joe Biden’s threat to block it looming large.
“In its desperate attempt to save a doomed deal, US Steel executives have turned to one of the oldest tricks in the book — attempting to divide USW members and retirees to distract us from the multimillion-dollar payoffs they stand to gain personally,” union president Dave McCall wrote on Thursday in the memo, obtained by Bloomberg. “Union members and retirees remain steadfast in our opposition.”
This week, the two companies unveiled their correspondence with the USW to show how union leaders snubbed efforts to negotiate an agreement. That’s after the Pittsburgh-based company came out and warned that plants could be shut down if the sale fell through, prompting some workers to voice their support for a new owner.
“Many people profess to want what is best for our employees, and that is why we negotiated a deal with a partner who will bring US$2.7 billion of transformative investments in USW-represented facilities, keeping them in operation for decades to come,” US Steel said in a statement, when asked on Thursday for comment on the McCall memo.
Nippon referred to a previous statement, saying the deal “will benefit American workers, local communities, and national security in a way no other alternative can”.
Biden is preparing to kill the deal once a referral from the Committee on Foreign Investment in the US, or CFIUS, reaches his desk, people familiar with the matter said last week. As of Wednesday, the matter remained with the CFIUS. Biden has regularly said US Steel should remain domestically owned, which McCall echoed in his memo.
“We will not be bullied into going backward and accepting a bad deal,” McCall wrote. “Our commitment has never been more clear: Keep US Steel US-owned.” Nippon Steel Corp is a Japanese company.
McCall has long opposed the acquisition, as have Biden and former president Donald Trump. Vice President Kamala Harris announced her position on Labor Day, saying US Steel should remain domestically owned.
The drama has played out as Pennsylvania, where US Steel is based, is considered a crucial prize by both Harris and Trump in the November presidential election.
Uploaded by Tham Yek Lee
https://theedgemalaysia.com/node/726648
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Re: Beleggen in staal
China’s steel crisis sends August output to lowest since 2017
(Sept 14): China’s steel production fell by more than 10% from a year earlier in August as the industry reeled from low prices and a damaging slump in demand.
Last month was a particularly brutal period for the world’s biggest steel sector, with top supplier China Baowu Steel Group Corp warning of increasingly bleak conditions. As mills fought deepening losses on every ton of steel they made, more of them chose to shut down furnaces.
Production of crude steel was down 10.4% from a year earlier to 77.9 million tons, according to the National Bureau of Statistics. That’s the weakest August for any year since 2017, and deepens this year’s overall decline. Total volumes for the first eight months of the year were 3.3% lower at 691.4 million tons.
China’s steel demand is falling after more than two decades of growth powered by the nation’s rapid industrialisation and urbanisation. This year, and especially this summer, a continued slump in construction activity has worsened the situation.
Still, there have been modest signs of a pickup so far in September, with some steel prices flicking higher and iron ore futures recovering from a slump below US$90 (RM387.18) a ton to post a weekly gain.
China’s struggling economy — from a battered property market to weak consumer confidence — is also weighing on oil demand, as highlighted repeatedly at a major industry gathering in Singapore in recent days.
Crude throughput, a gauge to show productivity in the world’s biggest oil refining market, fell 6.2% year-on-year to 59.07 million tons in August.
Uploaded by Tham Yek Lee
https://theedgemalaysia.com/node/726809
(Sept 14): China’s steel production fell by more than 10% from a year earlier in August as the industry reeled from low prices and a damaging slump in demand.
Last month was a particularly brutal period for the world’s biggest steel sector, with top supplier China Baowu Steel Group Corp warning of increasingly bleak conditions. As mills fought deepening losses on every ton of steel they made, more of them chose to shut down furnaces.
Production of crude steel was down 10.4% from a year earlier to 77.9 million tons, according to the National Bureau of Statistics. That’s the weakest August for any year since 2017, and deepens this year’s overall decline. Total volumes for the first eight months of the year were 3.3% lower at 691.4 million tons.
China’s steel demand is falling after more than two decades of growth powered by the nation’s rapid industrialisation and urbanisation. This year, and especially this summer, a continued slump in construction activity has worsened the situation.
Still, there have been modest signs of a pickup so far in September, with some steel prices flicking higher and iron ore futures recovering from a slump below US$90 (RM387.18) a ton to post a weekly gain.
China’s struggling economy — from a battered property market to weak consumer confidence — is also weighing on oil demand, as highlighted repeatedly at a major industry gathering in Singapore in recent days.
Crude throughput, a gauge to show productivity in the world’s biggest oil refining market, fell 6.2% year-on-year to 59.07 million tons in August.
Uploaded by Tham Yek Lee
https://theedgemalaysia.com/node/726809
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Re: Beleggen in staal
US Steel surges on report decision may come after election for takeover by Nippon Steel
(Sept 14): US Steel Corp surged the most this year after The Washington Post reported that President Joe Biden wouldn’t immediately move to block Nippon Steel Corp’s takeover bid.
While Biden remains opposed to the deal, a decision on blocking it is unlikely in the short term and may not be made until after the presidential election, the newspaper reported, citing people familiar with the matter.
US Steel shares surged as much as 10%, the steepest intraday gain since Dec 18 — the day the deal was first announced.
The gain had pared to 5% at 1.03pm in New York, as White House spokeswoman Saloni Sharma disputed that there’d been a change of plans, saying an announcement was never imminent. “The President’s position is that it is vital for US Steel to remain an American steel company that is domestically owned and operated.”
Biden was preparing to kill the deal once a referral from the Committee on Foreign Investment in the US, or CFIUS, reaches his desk, people familiar with the matter said last week.
The current deadline for a CFIUS decision is Sept 23, people familiar with the matter said. An extension would push the latest date for a decision past the election.
“The president told our steelworkers he has their backs, and he meant it,” Sharma said. “As we made clear last week, we have not received any recommendation from the CFIUS.”
Nippon and US Steel have been making last-ditch efforts to win over workers and politicians for the US$14.10 billion (RM60.66 billion) acquisition. This week, the two companies unveiled their correspondence with the United Steelworkers (USW) to show how union leaders snubbed efforts to negotiate an agreement.
That’s after the Pittsburgh-based company came out and warned that plants could be shut down if the sale fell through, prompting some workers to voice their support for a new owner.
But the USW union said in a memo on Thursday it won’t be bullied, calling the deal “doomed” and pledging to fight any foreign ownership.
US Steel and Nippon Steel pointed to the US$2.7 billion of investments the deal would bring, saying that will benefit workers, local communities and national security.
Uploaded by Tham Yek Lee
https://theedgemalaysia.com/node/726806
(Sept 14): US Steel Corp surged the most this year after The Washington Post reported that President Joe Biden wouldn’t immediately move to block Nippon Steel Corp’s takeover bid.
While Biden remains opposed to the deal, a decision on blocking it is unlikely in the short term and may not be made until after the presidential election, the newspaper reported, citing people familiar with the matter.
US Steel shares surged as much as 10%, the steepest intraday gain since Dec 18 — the day the deal was first announced.
The gain had pared to 5% at 1.03pm in New York, as White House spokeswoman Saloni Sharma disputed that there’d been a change of plans, saying an announcement was never imminent. “The President’s position is that it is vital for US Steel to remain an American steel company that is domestically owned and operated.”
Biden was preparing to kill the deal once a referral from the Committee on Foreign Investment in the US, or CFIUS, reaches his desk, people familiar with the matter said last week.
The current deadline for a CFIUS decision is Sept 23, people familiar with the matter said. An extension would push the latest date for a decision past the election.
“The president told our steelworkers he has their backs, and he meant it,” Sharma said. “As we made clear last week, we have not received any recommendation from the CFIUS.”
Nippon and US Steel have been making last-ditch efforts to win over workers and politicians for the US$14.10 billion (RM60.66 billion) acquisition. This week, the two companies unveiled their correspondence with the United Steelworkers (USW) to show how union leaders snubbed efforts to negotiate an agreement.
That’s after the Pittsburgh-based company came out and warned that plants could be shut down if the sale fell through, prompting some workers to voice their support for a new owner.
But the USW union said in a memo on Thursday it won’t be bullied, calling the deal “doomed” and pledging to fight any foreign ownership.
US Steel and Nippon Steel pointed to the US$2.7 billion of investments the deal would bring, saying that will benefit workers, local communities and national security.
Uploaded by Tham Yek Lee
https://theedgemalaysia.com/node/726806
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Re: Beleggen in staal
Mycron Steel to launch own patented green steel products by 2025
KUALA LUMPUR (Sept 20): Steel manufacturer Mycron Steel Bhd (KL:MYCRON) is planning to develop and launch its own patented green steel products by 2025, as it looks to address the growing demand for sustainable materials.
Its chief executive officer Roshan M Abdullah said the new green steel brand will focus on high-quality, low-carbon products designed for various high-end applications where end-users are willing to pay a premium price and invest in reducing their greenhouse gas emissions.
These applications include for the automotive industry, construction and infrastructure, as well as consumer goods and appliances.
"We are committed to delivering products that not only meet international standards but also contribute to our stakeholders' sustainability objectives," Roshan said during his speech at an event on Friday.
One of the significant steps that Mycron Steel has undertaken was signing a memorandum of understanding (MOU) with Universiti Teknologi Malaysia (UTM) in July to develop a comprehensive sustainability monitoring system, Roshan said.
The sustainability monitoring system, he said, is an essential step towards developing its own environmentally-friendly steel production process.
Earlier on Friday, Mycron Steel signed an MOU with Japanese steel manufacturer JFE Steel Corp, as it aspires to become the first green steel manufacturer in Malaysia.
Under the MOU, Mycron Steel will integrate JFE Steel's JGreeX green steel into its production process. JGreeX employs a mass-balance approach to reduce carbon dioxide (CO2) emissions across the entire steel production chain, allocating the emission reductions to specific products.
One such product is the hot-rolled steel sheet, a core raw material for Mycron Steel. According to the group, the mass-balance method adheres to the Japan Iron and Steel Federation’s guidelines, ensuring that the environmental benefits are precisely calculated and verified by the independent organisation ClassNK.
"By integrating JGreeX into our value chain, Mycron Steel is paving the way for green steel production, supporting key national initiatives such as the 12th Malaysia Plan and the New Industrial Master Plan (NIMP) 2030, which emphasise sustainability and innovation as drivers of economic growth," Roshan said.
While acknowledging that the incorporation of JGreeX will only form a small percentage of Mycron Steel's overall steel production in the short term, Roshan said that the demand for green steel is expected to grow by 2.5 times over the next five years.
"By 2030, it (green steel) could even be up to 25% of the total volume of steel sold globally," he told a press conference after the signing ceremony.
"With regards to Mycron Steel, we have to make sure that all of our customers understand the needs, the challenges and the opportunities that come with embracing green steel. And to ensure that we are able to cater for our customers' needs going forward in the future," Roshan added.
Shares of Mycron Steel closed unchanged at 39.5 sen, valuing the steel manufacturer at RM129.19 million. The counter is up 8% this year.
Edited ByAdam Aziz
https://theedgemalaysia.com/node/727456
KUALA LUMPUR (Sept 20): Steel manufacturer Mycron Steel Bhd (KL:MYCRON) is planning to develop and launch its own patented green steel products by 2025, as it looks to address the growing demand for sustainable materials.
Its chief executive officer Roshan M Abdullah said the new green steel brand will focus on high-quality, low-carbon products designed for various high-end applications where end-users are willing to pay a premium price and invest in reducing their greenhouse gas emissions.
These applications include for the automotive industry, construction and infrastructure, as well as consumer goods and appliances.
"We are committed to delivering products that not only meet international standards but also contribute to our stakeholders' sustainability objectives," Roshan said during his speech at an event on Friday.
One of the significant steps that Mycron Steel has undertaken was signing a memorandum of understanding (MOU) with Universiti Teknologi Malaysia (UTM) in July to develop a comprehensive sustainability monitoring system, Roshan said.
The sustainability monitoring system, he said, is an essential step towards developing its own environmentally-friendly steel production process.
Earlier on Friday, Mycron Steel signed an MOU with Japanese steel manufacturer JFE Steel Corp, as it aspires to become the first green steel manufacturer in Malaysia.
Under the MOU, Mycron Steel will integrate JFE Steel's JGreeX green steel into its production process. JGreeX employs a mass-balance approach to reduce carbon dioxide (CO2) emissions across the entire steel production chain, allocating the emission reductions to specific products.
One such product is the hot-rolled steel sheet, a core raw material for Mycron Steel. According to the group, the mass-balance method adheres to the Japan Iron and Steel Federation’s guidelines, ensuring that the environmental benefits are precisely calculated and verified by the independent organisation ClassNK.
"By integrating JGreeX into our value chain, Mycron Steel is paving the way for green steel production, supporting key national initiatives such as the 12th Malaysia Plan and the New Industrial Master Plan (NIMP) 2030, which emphasise sustainability and innovation as drivers of economic growth," Roshan said.
While acknowledging that the incorporation of JGreeX will only form a small percentage of Mycron Steel's overall steel production in the short term, Roshan said that the demand for green steel is expected to grow by 2.5 times over the next five years.
"By 2030, it (green steel) could even be up to 25% of the total volume of steel sold globally," he told a press conference after the signing ceremony.
"With regards to Mycron Steel, we have to make sure that all of our customers understand the needs, the challenges and the opportunities that come with embracing green steel. And to ensure that we are able to cater for our customers' needs going forward in the future," Roshan added.
Shares of Mycron Steel closed unchanged at 39.5 sen, valuing the steel manufacturer at RM129.19 million. The counter is up 8% this year.
Edited ByAdam Aziz
https://theedgemalaysia.com/node/727456
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Re: Beleggen in staal
Harris says keeping US Steel domestic more important than jobs
(Sept 26): Democratic presidential candidate Kamala Harris said keeping domestic control of steel production is more important than possible job losses if a proposed deal for Nippon Steel Corp, a Japanese company, to purchase US Steel Corp falls through.
“It’s most important that we maintain America’s ability to have American manufacturing of steel by American workers,” Harris said on Wednesday in an interview with MSNBC, when asked which concern weighed more heavily in her consideration of the deal.
US Steel chief executive officer David Burritt told The Wall Street Journal earlier this month that the company would likely have to close plants and move its headquarters from Pittsburgh if the US$14.1 billion (RM58.2 billion) deal isn’t consummated.
But Harris said that her economic policy platform, which she detailed earlier in the day at a speech in Pittsburgh, included investing in emerging sectors, including bio-manufacturing, aerospace, artificial intelligence, the blockchain and nuclear energy. All of those would require “manufacturing of steel as a fundamental part of what it accomplishes”, she said.
“An American company manufacturing that steel for those new industries is going to be critically important, not only in terms of our economy, but also in the context of national security,” Harris continued.
While Harris had previously signalled her opposition to the Nippon Steel purchase, her comments on Wednesday represented some of the most detailed rationale yet provided by the Biden administration. Harris met with steel workers — whose union has opposed the acquisition — during her trip to Pittsburgh.
Earlier in the day, an arbitration panel sided with US Steel in a dispute with union workers over whether the proposed deal would breach labour agreements.
While that clears one obstacle for the potential deal, others remain, including a review by the Committee on Foreign Investment in the US.
While Nippon Steel was allowed to refile its request to the panel earlier this month — likely pushing a decision on the takeover past the US election — President Joe Biden and Harris’ Republican opponent, former president Donald Trump, have both expressed their own opposition to the deal.
Uploaded by Tham Yek Lee
https://theedgemalaysia.com/node/728072
(Sept 26): Democratic presidential candidate Kamala Harris said keeping domestic control of steel production is more important than possible job losses if a proposed deal for Nippon Steel Corp, a Japanese company, to purchase US Steel Corp falls through.
“It’s most important that we maintain America’s ability to have American manufacturing of steel by American workers,” Harris said on Wednesday in an interview with MSNBC, when asked which concern weighed more heavily in her consideration of the deal.
US Steel chief executive officer David Burritt told The Wall Street Journal earlier this month that the company would likely have to close plants and move its headquarters from Pittsburgh if the US$14.1 billion (RM58.2 billion) deal isn’t consummated.
But Harris said that her economic policy platform, which she detailed earlier in the day at a speech in Pittsburgh, included investing in emerging sectors, including bio-manufacturing, aerospace, artificial intelligence, the blockchain and nuclear energy. All of those would require “manufacturing of steel as a fundamental part of what it accomplishes”, she said.
“An American company manufacturing that steel for those new industries is going to be critically important, not only in terms of our economy, but also in the context of national security,” Harris continued.
While Harris had previously signalled her opposition to the Nippon Steel purchase, her comments on Wednesday represented some of the most detailed rationale yet provided by the Biden administration. Harris met with steel workers — whose union has opposed the acquisition — during her trip to Pittsburgh.
Earlier in the day, an arbitration panel sided with US Steel in a dispute with union workers over whether the proposed deal would breach labour agreements.
While that clears one obstacle for the potential deal, others remain, including a review by the Committee on Foreign Investment in the US.
While Nippon Steel was allowed to refile its request to the panel earlier this month — likely pushing a decision on the takeover past the US election — President Joe Biden and Harris’ Republican opponent, former president Donald Trump, have both expressed their own opposition to the deal.
Uploaded by Tham Yek Lee
https://theedgemalaysia.com/node/728072
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Re: Beleggen in staal
Tata Steel gaat flink bezuinigen, maar er worden geen banen geschrapt
Tata Steel Nederland gaat flink bezuinigen vanwege de problemen op de staalmarkt. Er verdwijnen geen banen, maar er worden kostenbesparingen doorgevoerd, waaronder een vacaturestop.
"De kostenbesparende maatregelen die we nu nemen, zijn niet gericht op het reduceren van arbeidsplaatsen. Waar het nu om gaat zijn maatregelen op het gebied van inkoop en verkoop, voorraadbeheer, onderhoud en alle andere kosten die we kunnen beïnvloeden", zegt een woordvoerder.
"Verder nemen we een aantal andere maatregelen die impact op medewerkers kunnen hebben, waaronder het tijdelijk niet invullen van vacatures of het doorschuiven van niet noodzakelijke trainingen en reizen naar een later tijdstip."
De Europese industrie verkeert in zwaar weer en de staalmarkt ondervindt daarvan direct de gevolgen. Ook na de zomer zijn de vooruitzichten niet verbeterd.
Om de verslechterde marktomstandigheden het hoofd te bieden, zijn maatregelen volgens het bedrijf onvermijdelijk. "De auto-industrie is ingezakt en er is veel goedkoop Chinees staal op de markt."
https://www.nu.nl/economie/6329579/tata ... hrapt.html
Tata Steel Nederland gaat flink bezuinigen vanwege de problemen op de staalmarkt. Er verdwijnen geen banen, maar er worden kostenbesparingen doorgevoerd, waaronder een vacaturestop.
"De kostenbesparende maatregelen die we nu nemen, zijn niet gericht op het reduceren van arbeidsplaatsen. Waar het nu om gaat zijn maatregelen op het gebied van inkoop en verkoop, voorraadbeheer, onderhoud en alle andere kosten die we kunnen beïnvloeden", zegt een woordvoerder.
"Verder nemen we een aantal andere maatregelen die impact op medewerkers kunnen hebben, waaronder het tijdelijk niet invullen van vacatures of het doorschuiven van niet noodzakelijke trainingen en reizen naar een later tijdstip."
De Europese industrie verkeert in zwaar weer en de staalmarkt ondervindt daarvan direct de gevolgen. Ook na de zomer zijn de vooruitzichten niet verbeterd.
Om de verslechterde marktomstandigheden het hoofd te bieden, zijn maatregelen volgens het bedrijf onvermijdelijk. "De auto-industrie is ingezakt en er is veel goedkoop Chinees staal op de markt."
https://www.nu.nl/economie/6329579/tata ... hrapt.html
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Re: Beleggen in staal
Thyssenkrupp steel head prepares staff for 'tough' cuts
FRANKFURT (Sept 29): Thyssenkrupp's 27,000 steel workers must brace for deep cuts, the new head of the conglomerate's steel division told a German newspaper, setting the stage for significant layoffs.
"Tough cuts are necessary. We have to become more profitable," Dennis Grimm, spokesperson for Thyssenkrupp Steel Europe's (TKSE) executive board, told Westdeutsche Allgemeine Zeitung (WAZ) in an interview.
"The current market situation has deteriorated again in recent months, and unfortunately there is no recovery in sight."
TKSE is emerging from a major clash with its parent over funds that are required in a proposed 50:50 joint venture structure with Czech billionaire Daniel Kretinsky, who already owns a 20% stake in the steel business.
Grimm said that currently, a new business plan was being developed for TKSE and it was unclear how many jobs would have to go.
"We can't yet put an exact figure on how many people we will employ once the business plan has been finalised and negotiations with the employee representatives have been completed," Grimm told WAZ.
"But it will be fewer than today."
Uploaded by Siow Chen Ming
https://theedgemalaysia.com/node/728363
FRANKFURT (Sept 29): Thyssenkrupp's 27,000 steel workers must brace for deep cuts, the new head of the conglomerate's steel division told a German newspaper, setting the stage for significant layoffs.
"Tough cuts are necessary. We have to become more profitable," Dennis Grimm, spokesperson for Thyssenkrupp Steel Europe's (TKSE) executive board, told Westdeutsche Allgemeine Zeitung (WAZ) in an interview.
"The current market situation has deteriorated again in recent months, and unfortunately there is no recovery in sight."
TKSE is emerging from a major clash with its parent over funds that are required in a proposed 50:50 joint venture structure with Czech billionaire Daniel Kretinsky, who already owns a 20% stake in the steel business.
Grimm said that currently, a new business plan was being developed for TKSE and it was unclear how many jobs would have to go.
"We can't yet put an exact figure on how many people we will employ once the business plan has been finalised and negotiations with the employee representatives have been completed," Grimm told WAZ.
"But it will be fewer than today."
Uploaded by Siow Chen Ming
https://theedgemalaysia.com/node/728363
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Re: Beleggen in staal
Tata Steel markeert einde van een tijdperk: 3000 banen verloren bij transformatie van 1,25 miljard pond
- 3.000 banen gaan verloren door de sluiting van de oven en de transformatie.
- Het nieuwe vlamboogovenmodel zal naar verwachting meer dan 5.000 banen in het VK ondersteunen.
- Tata Steel is van plan om de warm- en koudbandwalserijen in Port Talbot te handhaven ondanks de sluiting van de heavy-end activiteiten.
De sluiting van hoogoven 4 in de Port Talbot-fabriek van Tata Steel betekent een somber einde van meer dan een eeuw staalproductie in het Verenigd Koninkrijk. Deze laatste oven, waarvan de sluiting vandaag rond 17.00 uur gepland staat, betekent een belangrijke verschuiving in de Britse staalindustrie.
Ampact op banen en industrie
Hoewel de overgang naar een groenere vlamboogoven, die gebruik maakt van gerecycled schrootstaal uit eigen land, naar verwachting in 2028 voltooid zal zijn, hangt er een prijskaartje aan deze transformatie.
Bijna 3.000 banen, wat neerkomt op ongeveer 75 procent van het personeelsbestand, zullen verloren gaan door de investering van 1,25 miljard pond, waarbij de Britse overheid 500 miljoen pond bijdraagt.
Reactie van het bedrijf en de vakbonden
Tata Steel erkent het historische belang van Port Talbot’s staalproductie en benadrukt tegelijkertijd haar inzet voor een “mooiere, groenere toekomst”. Het bedrijf beweert dat dit nieuwe model meer dan 5000 banen in het hele VK zal ondersteunen en een concurrentievoordeel op de markt zal opleveren.
Vakbonden hebben krachtig campagne gevoerd om de sluiting van de oven uit te stellen en het banenverlies tot een minimum te beperken.
Toekomstplannen voor Port Talbot
Ondanks de sluiting van de heavy-end activiteiten is Tata Steel van plan om de warm- en koudbandwalserijen in Port Talbot te handhaven en geïmporteerde staalplakken te blijven walsen. Deze gedeeltelijke operatie onderstreept de blijvende impact op de identiteit van de stad, die diep verweven is met haar historische rol in de staalproductie.
Overheidssteun voor overgang
De regering van Wales heeft een fonds van 13,5 miljoen pond aangekondigd om bedrijven te helpen die getroffen worden door de sluiting, met als doel de problemen op korte termijn tijdens de overgangsfase te verlichten. Dit initiatief weerspiegelt de inzet van de regering om zowel werknemers als bedrijven te ondersteunen bij deze belangrijke verschuiving in het industriële landschap.
De Britse regering heeft ook toegezegd om volgend voorjaar een uitgebreide strategie voor de toekomst van Brits staal te publiceren.
https://www.msn.com/nl-be/nieuws/other/ ... 421d&ei=32
- 3.000 banen gaan verloren door de sluiting van de oven en de transformatie.
- Het nieuwe vlamboogovenmodel zal naar verwachting meer dan 5.000 banen in het VK ondersteunen.
- Tata Steel is van plan om de warm- en koudbandwalserijen in Port Talbot te handhaven ondanks de sluiting van de heavy-end activiteiten.
De sluiting van hoogoven 4 in de Port Talbot-fabriek van Tata Steel betekent een somber einde van meer dan een eeuw staalproductie in het Verenigd Koninkrijk. Deze laatste oven, waarvan de sluiting vandaag rond 17.00 uur gepland staat, betekent een belangrijke verschuiving in de Britse staalindustrie.
Ampact op banen en industrie
Hoewel de overgang naar een groenere vlamboogoven, die gebruik maakt van gerecycled schrootstaal uit eigen land, naar verwachting in 2028 voltooid zal zijn, hangt er een prijskaartje aan deze transformatie.
Bijna 3.000 banen, wat neerkomt op ongeveer 75 procent van het personeelsbestand, zullen verloren gaan door de investering van 1,25 miljard pond, waarbij de Britse overheid 500 miljoen pond bijdraagt.
Reactie van het bedrijf en de vakbonden
Tata Steel erkent het historische belang van Port Talbot’s staalproductie en benadrukt tegelijkertijd haar inzet voor een “mooiere, groenere toekomst”. Het bedrijf beweert dat dit nieuwe model meer dan 5000 banen in het hele VK zal ondersteunen en een concurrentievoordeel op de markt zal opleveren.
Vakbonden hebben krachtig campagne gevoerd om de sluiting van de oven uit te stellen en het banenverlies tot een minimum te beperken.
Toekomstplannen voor Port Talbot
Ondanks de sluiting van de heavy-end activiteiten is Tata Steel van plan om de warm- en koudbandwalserijen in Port Talbot te handhaven en geïmporteerde staalplakken te blijven walsen. Deze gedeeltelijke operatie onderstreept de blijvende impact op de identiteit van de stad, die diep verweven is met haar historische rol in de staalproductie.
Overheidssteun voor overgang
De regering van Wales heeft een fonds van 13,5 miljoen pond aangekondigd om bedrijven te helpen die getroffen worden door de sluiting, met als doel de problemen op korte termijn tijdens de overgangsfase te verlichten. Dit initiatief weerspiegelt de inzet van de regering om zowel werknemers als bedrijven te ondersteunen bij deze belangrijke verschuiving in het industriële landschap.
De Britse regering heeft ook toegezegd om volgend voorjaar een uitgebreide strategie voor de toekomst van Brits staal te publiceren.
https://www.msn.com/nl-be/nieuws/other/ ... 421d&ei=32
- nobody
- Forumveteraan
- Berichten: 14560
- Lid geworden op: 09 mar 2022 13:32
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Re: Beleggen in staal
Indonesian steel market woes complicate Krakatau’s restructuring
(Oct 4): Indonesian steelmaker PT Krakatau Steel’s attempt to restructure US$1.5 billion (RM6.35 billion) of loans is turning the spotlight on operational and industry woes that complicate the process.
The government is trying to finalise a restructuring deal between Indonesia’s largest steelmaker and its lenders in October, Bloomberg reported late last week. Its falling revenue, stiff competition from cheap Chinese imports, and the death of its president director on Wednesday could factor into the parties’ negotiations on what to do with the loans.
The state-owned company’s net loss in the first half of 2024 widened to US$60 million, from US$37.4 million in the year-ago period, according to the company’s financial results. Revenue slumped to US$444.7 million, from US$984.6 million, with the result partly attributed to a 2023 fire at a Banten province plant that hampered hot-rolled coil production.
Many of the challenges facing Krakatau Steel are also clouding investors’ confidence in its unit PT Krakatau Posco, which raised US$700 million through offshore bonds earlier this year.
On Sept 23 — just four months after the notes were sold — S&P Global Ratings downgraded the outlook on the unit, a joint venture with South Korea’s Posco Holdings, to negative, on “pricing pressure” and likely “volatile” performance.
Krakatau Posco’s notes due in 2027 and 2029 both fell more than 0.3% on the week ending Sept 27 after the downgrade, according to prices compiled by Bloomberg.
“We see a persistent impact from the aggressive Chinese steel imports in Asia, amid the concern of overcapacity and weak domestic steel demand in China,” according to a note from Nomura on the S&P downgrade.
What’s happening:
Krakatau Steel disclosed in November that it’s in restructuring talks over the loans, and discussions with banks have since continued. At the time, the company said then that the plant fire necessitated the restructuring.
It’s not the first time the steelmaker has sought to restructure the debt. In early 2020, Krakatau Steel struck a deal with 10 lenders, resulting in savings of about US$685 million.
The government has since offered support to boost Krakatau Steel’s competitiveness, including President Joko Widodo’s call for a cut in imports and direct aid of three trillion rupiah (US$194.4 million).
Still, the company fell back into posting losses in 2023, after a three-year run of profitability. It has now posted annual losses in nine out of the last 12 years, according to Bloomberg-compiled data.
What is Krakatau Steel:
Krakatau Steel was officially founded in 1970. But its predecessor entity goes back to 1960, when the Indonesian government signed an agreement with Russia’s Tyazhpromeksport for the construction of Cilegon Steel Mills, according to Krakatau Steel’s website.
The company eventually broadened its product line-up to include hot and cold sheet steel and wire rod steel. By 2022, its production capacity hit four million tonnes a year.
At its peak, Krakatau Steel once hosted industrialists from China, eager to learn how their nation could accelerate its own output. Fast forward several decades and the Indonesian firm was suddenly having to grapple with cheaper imports from a rapidly growing China and elsewhere.
What’s next:
That Krakatau Steel’s three-year streak of profitability came after the loan restructuring in 2020 is notable, and this current round of negotiation could similarly prove to be a boon.
But broader external challenges remain, including pricing pressure from imported Chinese steel products and the impact of Indonesian tariff policy on imports, S&P noted in its Krakatau Posco downgrade.
Krakatau Steel may also need more than just the loan restructuring deal to become healthy, said Teddy Hariyanto, senior credit analyst at PT Mandiri Sekuritas.
“The company needs to sort out the problems that it has in its plants, ramp up the sales to generate cash flow, and cut down on inventories and improve any collectibles it has,” he said.
Uploaded by Liza Shireen Koshy
https://theedgemalaysia.com/node/729040
(Oct 4): Indonesian steelmaker PT Krakatau Steel’s attempt to restructure US$1.5 billion (RM6.35 billion) of loans is turning the spotlight on operational and industry woes that complicate the process.
The government is trying to finalise a restructuring deal between Indonesia’s largest steelmaker and its lenders in October, Bloomberg reported late last week. Its falling revenue, stiff competition from cheap Chinese imports, and the death of its president director on Wednesday could factor into the parties’ negotiations on what to do with the loans.
The state-owned company’s net loss in the first half of 2024 widened to US$60 million, from US$37.4 million in the year-ago period, according to the company’s financial results. Revenue slumped to US$444.7 million, from US$984.6 million, with the result partly attributed to a 2023 fire at a Banten province plant that hampered hot-rolled coil production.
Many of the challenges facing Krakatau Steel are also clouding investors’ confidence in its unit PT Krakatau Posco, which raised US$700 million through offshore bonds earlier this year.
On Sept 23 — just four months after the notes were sold — S&P Global Ratings downgraded the outlook on the unit, a joint venture with South Korea’s Posco Holdings, to negative, on “pricing pressure” and likely “volatile” performance.
Krakatau Posco’s notes due in 2027 and 2029 both fell more than 0.3% on the week ending Sept 27 after the downgrade, according to prices compiled by Bloomberg.
“We see a persistent impact from the aggressive Chinese steel imports in Asia, amid the concern of overcapacity and weak domestic steel demand in China,” according to a note from Nomura on the S&P downgrade.
What’s happening:
Krakatau Steel disclosed in November that it’s in restructuring talks over the loans, and discussions with banks have since continued. At the time, the company said then that the plant fire necessitated the restructuring.
It’s not the first time the steelmaker has sought to restructure the debt. In early 2020, Krakatau Steel struck a deal with 10 lenders, resulting in savings of about US$685 million.
The government has since offered support to boost Krakatau Steel’s competitiveness, including President Joko Widodo’s call for a cut in imports and direct aid of three trillion rupiah (US$194.4 million).
Still, the company fell back into posting losses in 2023, after a three-year run of profitability. It has now posted annual losses in nine out of the last 12 years, according to Bloomberg-compiled data.
What is Krakatau Steel:
Krakatau Steel was officially founded in 1970. But its predecessor entity goes back to 1960, when the Indonesian government signed an agreement with Russia’s Tyazhpromeksport for the construction of Cilegon Steel Mills, according to Krakatau Steel’s website.
The company eventually broadened its product line-up to include hot and cold sheet steel and wire rod steel. By 2022, its production capacity hit four million tonnes a year.
At its peak, Krakatau Steel once hosted industrialists from China, eager to learn how their nation could accelerate its own output. Fast forward several decades and the Indonesian firm was suddenly having to grapple with cheaper imports from a rapidly growing China and elsewhere.
What’s next:
That Krakatau Steel’s three-year streak of profitability came after the loan restructuring in 2020 is notable, and this current round of negotiation could similarly prove to be a boon.
But broader external challenges remain, including pricing pressure from imported Chinese steel products and the impact of Indonesian tariff policy on imports, S&P noted in its Krakatau Posco downgrade.
Krakatau Steel may also need more than just the loan restructuring deal to become healthy, said Teddy Hariyanto, senior credit analyst at PT Mandiri Sekuritas.
“The company needs to sort out the problems that it has in its plants, ramp up the sales to generate cash flow, and cut down on inventories and improve any collectibles it has,” he said.
Uploaded by Liza Shireen Koshy
https://theedgemalaysia.com/node/729040
- quince
- Forumveteraan
- Berichten: 1400
- Lid geworden op: 23 jan 2022 19:26
- Heeft bedankt: 1039 maal
- Is bedankt: 1647 maal
Re: Beleggen in staal
China heeft naar verluidt een nieuwe manier ontwikkeld om staal te produceren.
Met een 3.600-voudige productiviteitsverhoging zet hun nieuwe Flash-Iron-Making-Technology
fijngemalen ijzerertspoeder om in hoogzuiver ijzer in slechts 3 tot 6 seconden - zonder kool.
Ter vergelijking: conventionele hoogovens hebben hier 5 tot 6 uur voor nodig.
.
Dec 08, 2024 - China develops new iron making method that boosts productivity by 3,600 times
8 Dec 2024 - China’s ‘explosive’ ironmaking breakthrough achieves 3,600-fold productivity boost
Met een 3.600-voudige productiviteitsverhoging zet hun nieuwe Flash-Iron-Making-Technology
fijngemalen ijzerertspoeder om in hoogzuiver ijzer in slechts 3 tot 6 seconden - zonder kool.
Ter vergelijking: conventionele hoogovens hebben hier 5 tot 6 uur voor nodig.
.
Dec 08, 2024 - China develops new iron making method that boosts productivity by 3,600 times
8 Dec 2024 - China’s ‘explosive’ ironmaking breakthrough achieves 3,600-fold productivity boost
Z28.310
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