” We estimate our Market share of about 30%. The main competitor is TIMET, a number of Japanese and American manufacturers. From the point of view of “Smiths” – a French manufacturer stampings Aubert & Duval and American Wyman Gordon. The Carve-up of the market is made by our customers – Boeing, Airbus, which distribute their orders between major producing competitors. Here, on the one hand, the price factors play a role, and the other – political. ” Mikhaïl Voïevodine, VSMPO-AVISMA CEO (Credit Photo @ Beriki)
We have decided to consider the “Titanium Valley” as a place to build new production facilities with partners.
- Tax benefits to residents’ Titanium Valley “, will allow us to compete with other countries and attract foreign investors.
- We plan to build a new plant for metal working. This is advantageous, since we do not pay taxes.
- There is a study of the project of another plant with a foreign partner, construction could begin as early as next year.
- In order to begin construction, we need to make sure that the ‘Titanium Valley “will have the necessary infrastructure, this require significant investments in water supply, electricity, etc. so we need necessary funds from the budget of the Russian Federation.
- Company valuation and negotiations with banks were not conducted for the IPO.
- For us, this year, a record for all indicators. At the end of 2012 the volume of production of titanium is more than 31,000 tons. despite the fact that the maximum production of VSMPO in the 90′s did not exceed 27,000 tons. Revenue this year will be more than 39.5 billion rubles, net profit more than 7 billion.
- The average salary rose to 28,000 rubles.
- Our investment program reaches a record this year – we have invested around 8 billion. Among the major projects of the construction of two skull furnaces for 2.5 billion rubles, which will be completed next year. It will be also completed by an installation of a new forging press – the project has invested more than 2 billions rubles. We buy and build a new complex for the production of rolled rings, parallel processing is the mechanization drive and coils. The project cost 2.5 billion rubles was launched in this year and should end in 2016. This will increase our capacity by a factor of 3 for rings, the machining drives for 1.5 times , and coil for 2.2 times. Next year will continue investments in all sectors – in rolling, forging and machining of production. Investments for the next year are expected to reach 6 billion rubles.
- Civil aircraft industry are starting to build composite aircraft – like Boeing-787, Airbus A350. The more aircraft composite materials, the more you need titanium, as composite materials are incompatible with the steel and aluminum – corrosion occurs. If the use of titanium aluminum plane was up to 5% by weight, the composition up to 20%.
- We are working with Boeing to develop new titanium alloys, which will cost less. The most common alloy in aviation is 6-4, but in some parts of the aircraft we do not need the features that it offers. For example, for the manufacturing of the chassis needs very important strength, fracture toughness and strength. However, for the titanium Continue Reading
An employee pours molten steel into a casting for a church bell at the Verdin Corp. production facility in Cincinnatti, Ohio, on Nov. 11, 2012. The U.S. shale-gas revolution, which has revitalized chemicals companies and prompted talk of domestic energy self-sufficiency, is attracting a wave of investment that may revive profits in the steel industry. / ( Credit Photo @ Bloomberg )
The U.S. shale-gas revolution, which has revitalized chemicals companies and prompted talk of domestic energy self-sufficiency, is attracting a wave of investment that may revive profits in the steel industry.
Austrian steelmaker Voestalpine AG (VOE) said Dec. 19 it may construct a 500 million-euro ($661 million) factory in the U.S. to benefit from cheap gas. Nucor Corp. (NUE), the most valuable U.S. steelmaker, plans to start up a $750 million Louisiana project in mid-2013. They’re among at least five U.S. plants under consideration or being built that would use gas instead of coal to purify iron ore, the main ingredient in steel. “That technology has been around 30 years, but for 29 years gas prices in the U.S. were so high that the technology was not economical,” said Michelle Applebaum, managing partner at consulting firm Steel Market Intelligence in Chicago. “This is how steel will be built moving forward.” The new capacity may signal a turnaround for an industry that has suffered from overcapacity since the financial crisis and collapse in commodity prices four years ago. U.S. steelmakers have struggled to stay profitable amid sluggish domestic demand, depressed prices and competition from Chinese imports. While global steel output has grown by 14 percent since 2008, U.S. production has shrunk 3.4 percent.
The newest group of steel projects are so-called direct- reduced iron plants, which account for the first stage of steelmaking. DRI technology produces iron for about $324 a ton, Nucor said in a November presentation. That’s $82 a ton, or 20 percent, cheaper than using a conventional blast furnace, the Charlotte, North Carolina-based steelmaker said. Foreign competitors are now following Nucor’s lead. A joint venture between Australia’s Bluescope Steel Ltd. (BSL) and commodity trader Cargill Inc. plans to Continue Reading
In 2007, Independent Forgings and Alloys (IFA) Ltd on Livesey Street, Sheffield, purchased a £2million forging line in order to meet demand and continue the company’s rapid growth. South Yorkshire Investment Fund (SYIF) assisted IFA with its ‘Forge 2’ project with a £500,000 loan to the company. On Photo, On 2007, Mary Broadhead of South Yorkshire Investment Fund, Claire Davis from Grant Thornton, Martin Burnham Chairman of Independent Forgings and Alloys and Craig Syson, Finance Director, at Independent Forgings and Alloys. (Credit Photo @ South Yorkshire Investment Fund)
Sheffield-based IFA announced this week that they have signed a memorandum of understanding with AREVA for the supply of forged components for the new UK projects on the EPR nuclear reactors. The agreement marks another step in IFA’s business plans to become a key supplier within the nuclear new build programmes in both theUKand Overseas. The signing took place in Westminster, London 13th December in the presence of Philippe Knoche, Chief Operating Officer, AREVA, Humphrey Cadoux-Hudson, Managing Director, Nuclear new Build EDF Energy and UK Business Minister, Lord Marland. The agreements relate to the two ERPTM reactors planned by EDF Energy at Hinkley Point for which a site licence was granted last month by the UK Government. The collaboration could also extend to other reactors planned for UK build. The Sheffield company were one of 25 key suppliers who are pre-qualified by AREVA for selection on the UK new Nuclear new build programme. With agreements already announced with Rolls Royce, the projects could be worth over £400m to British manufacturers. Managing Director Andy McGuinness who attended the ceremony is optimistic about the future prospects “ Specialist Forgings will be a key requirement to the nuclear industry supply chain and represents an important area for IFA to grow their business. The potential demand and long term commitments of these projects mean that the company will make investments to additional forge capacity and resources necessary to become a leader in this field. IFA is very proud to be one of the pre-qualified companies invited to be selected by AREVA and Rolls-Royce to collaborate with other British companies in theUKnew nuclear projects” With our existing Continue Reading
The redesigned pan casings made by Wallwork Cast Alloys for Independent Forgings are engineered to withstand many cycles of heating and cooling.
Independent Forgings and Alloys, working with Wallwork Cast Alloys, is benefiting from an improvement programme that will extend the life of critical jigs and castings used in heat treating forged components
UK based Independent Forgings and Alloys is one of the world’s largest blacksmiths. Working with Wallwork Cast Alloys. the company is benefiting from an improvement programme that will extend the life of critical jigs and castings used in heat treating forged components. Engineered to withstand repeated cycles of heating and cooling, the modified base grids and pan casings have the potential for reduction in energy use and improved cycle times while contributing to lean production and quality goals. Wallwork Cast Alloys were called in to look at problems of cracking that reduced the working life and efficiency of stainless steel base grids and pan casings used in the heat treatment furnaces. Independent Forgings original supplier was unwilling to alter the design or material and so Wallwork were asked for an alternative. A heat treatment specialist, producing furnace furniture for their own factories Wallwork’s working experience is used in the design process. “We understand the need for strong and resilient low thermal mass designs that optimise component packing density to achieve even heating and effective quenching,” commented Wallwork director Peter Carpenter. “We examined the failed grids and casings and concluded that we could extend their life by a design modification to the pattern and substituting a 55/18 nickel/chrome alloy for stainless steel to achieve a higher temperature Continue Reading
On the photo (l to r): Ronald Schmidt, Head of Business Administration, Turbine Blades and Vanes, Fossil Products, Siemens; Andreas Fischer-Ludwig, Head of Turbine Blades and Vanes, Fossil Products, Siemens; Lennart Nilsson, President, Gas Turbines, Fossil Power, Siemens; Allen Zwierzchowski, Vice President, APP; Thierry Toupin, CEO, Fossil Products, Siemens; Brian Malloy, Commercial Vice President, IGT, APP; Andreas DeWeze, Manager, Strategic Procurement Turbine Blades and Vanes, Siemens; and Joe Donatelli, Global Account Manager, IGT, APP. (Credit Photo @ ALCOA).
NEW YORK–(BUSINESS WIRE)–Alcoa (NYSE: AA) today announced that Alcoa Power and Propulsion (APP) has signed a long-term agreement with Siemens Energy to supply blades and vanes for a wide range of industrial gas turbines. Siemens Energy is one of the world’s leading suppliers of products, solutions and services in the energy technology field. Contract terms were not disclosed. Alcoa parts made in the U.S. and Europe will be used in, among others, the Siemens F-Class turbine which generates enough power to supply the energy needs of a city of 300,000 residents. “Alcoa’s blades and vanes operate in the most demanding section of the turbine, where temperatures sometimes exceed the melting point of the casting and the rotational rate exceeds the speed of sound,” said Andreas Fischer-Ludwig, Director of Global Blades & Vane Business at Siemens Energy. “But even in that severe environment, Alcoa technology keeps the castings working optimally, which is crucial to our global customers who need to generate electricity dependably.” “We are pleased that Siemens Energy recognizes the Continue Reading
Indonesian state steelmaker Krakatau Steel on Wednesday signed a joint venture agreement with Japanese company Nippon Steel & Sumitomo Metal Corporation to build a steel plant that will supply the domestic automotive industry. The joint venture will conduct operations under the name Krakatau Nippon Steel Sumikin, Krakatau Steel said in a statement. There was no mention of the investment’s size. The plant will be located in the Krakatau Industrial Estate in Cilegon, Banten, which is owned by the Indonesian steel maker. Krakatau will hold a 49 percent stake in the joint venture, while Nippon Steel & Sumitomo Metal will own 51 percent. The two companies are seeking to tap growing demand for high-grade automotive flat steel products that are presently supplied largely by Japanese automakers that have grown their business in Indonesia. Nippon Steel & Sumitomo Metal Corporation is the world’s second-biggest steel maker, with a production capacity of up to 50 million tons per year. Amid low borrowing costs and rising per capita income, Indonesians are purchasing vehicles in record numbers. Growing demand helped boost car sales by 26 percent year-on-year in the January to November period of this year, with sales totaling 1,026,758 units. An Continue Reading
One of SMC’s assets that could prove particularly valuable to Timet is its 110-inch mill in Huntington, which could be used to convert Timet melted product into aerospace alloy titanium plate. On photo SMC’s Huntington Plant (Credit Photo @ Observer-Dispatch)
- Timet makes different products than SMC but its role within PCC will be similar to SMC’s “in terms of being able to supply PCC internal needs.
- Timet has at least two outsourcing agreements with Haynes International and Carpenter Technology.
- In 2006 Haynes signed a 20-year deal with Timet , in exchange to a commitment to produce 10 million pounds of flat products per year guaranteed for TIMET in exchange it will be receive 50$ million of fees.
- In 2007 Timet signed a minimum 12-year agreement with Carpenter under which Carpenter will provide forgings to Timet and TIMET will provide melting capacity to Carpenter. The deal could be extended to 20 years maximum.
- Haynes & Carpenter said this week that their agreements with Timet remain in effect
SMC key in growing Timet’s role in Precision Castparts
LOS ANGELES — Precision Castparts Corp. will use its existing specialty alloys operations to extend the downstream product role of Titanium Metals Corp. under Timet’s future ownership by PCC. PCC chairman and chief executive officer Mark Donegan said last week that PCC plans to utilize the assets of Huntington, W.Va.-based nickel and cobalt alloys producer Special Metals Corp. to stretch Timet’s product range within its new parent company. “Where SMC was a fully integrated mill (when it was acquired by PCC in 2006),” Timet is a “fully integrated melter—they’re not a mill,” Donegan told financial analysts at a meeting in New York.
”Where SMC was a fully integrated mill (when it was acquired by PCC in 2006),” Timet is a “fully integrated melter—they’re not a mill,”
Mark Donegan, PCC President CEO & President
However, PCC can “match” SMC’s down stream assets with Timet’s melt capabilities and “create a fully integrated mill” out of the Continue Reading
New Delhi, December 24, 2012 _As is the case with most retirements, Ratan Tata would surely spare a minute or two over the next week, to ponder over and reminisce about his first day in office of a distinguished 50-year professional career. Perhaps he would also allow a contented smile at what that same. company has been able to achieve in the two decades of his chairmanship. Tata will step down as chairman of Tata Sons on Friday, handing over the reins to Cyrus Mistry.Starting out as an intern on a shop floor of Tata Steel in 1962, the company that is often referred to as the bedrock of the group holds a special place in Ratan Tata’s heart — That is where in some ways, it all started.It was also Tata Steel that presented Tata his first major challenge after taking over the mantle in 1991 in the form of Russi Mody, then the managing director of the company.A larger-than-life personality, Mody was one of the front runners for the top job and was reportedly unhappy with Tata’s appointment. Following a much publicised spat, Tata came out trumps and Mody had to step down. While Tata grew in confidence as a result and began to set Bombay House in order, the company gained in the process. Since 1991, Tata Steel has seen its turnover grow over 57 times while profit has surged 33 fold. It has also made a spate of acquisitions — from direct steel-making assets to mineral resources — spread itself across the world which has helped it insulate itself from the cyclic nature of the commodity business.The crowning glory of the Tata Steel story however, has to be the $ 12.1-billion (over R50,000-crore) acquisition of Anglo Dutch steel maker Corus in 2007.For a company that was four times its size and had to be funded largely through foreign debt, the takeover is a barometer of the respect Tatas have garnered over the century and the fundamental strength of Tata Steel as the champion in low-cost steel making. The deal catapulted Tata Steel into the Continue Reading
(Credit Photo @ VSMPO)
12 и 13 декабря в Московском Центре международной торговли состоялся IV Международный форум поставщиков атомной отрасли «Атомекс». Корпорация ВСМПО-АВИСМА была приглашена к участию в мероприятии как один из самых надёжных партнёров Госкорпорации «Росатом», по решению которого ВСМПО было удостоено диплома «Добросовестный поставщик атомной отрасли 2012». Полученная награда подтверждает соответствие стандартов Корпорации международным нормам менеджмента качества, эффективности производства и конкурентоспособности выпускаемой продукции, а также подтверждает финансовую стабильность и гарантированное исполнение контрактов. Среди заказчиков-«атомщиков» Корпорации ВСМПО-АВИСМА – Федеральное Государственное Унитарное Предприятие «Маяк», для которого ВСМПО производит технологические алюминиевые трубы, являющиеся эксклюзивной продукцией, выпускаемой только в специализированном цехе ВСМПО. Титановые полуфабрикаты поставляются в Continue Reading
Trenton has seen better days. Thirty-two Nova Forge employees learned last week that the longtime forge will be shutting down permanently on Feb. 8. (Credit Photo @ AARON BESWICK / Truro Bureau)
NOVA FORGE CORP. will close its doors here for the last time on Feb. 8.
The subsidiary of Forged Products Inc. of Houston, Texas, informed its 32 employees late last week. “Right now we’re busy working with employees, our customers and our suppliers, and I can’t comment on the reasons for the closure at this time,” said Rob MacEachern, Nova Forge general manager, on Wednesday. The manufacturer of heavy, open-die forgings for a variety of industries was struck by a significant fire last January that began at the press in the foundry’s pump room. No one was injured in the blaze. MacEachern would not comment on whether fire damage contributed to the closure. For Trenton, it’s another blow to a town Continue Reading
Phase Equilibria, Phase Diagrams and Phase Transformations: Their Thermodynamic Basis -Mats Hillert | 2007-12-10 00:00:00 | Cambridge University Press | 524 | Engineering (Credit Photo @ Cambridge University Press)
- Hardcover: 526 pages
- Publisher: Cambridge University Press; 2 edition (December 10, 2007)
- Language: English
- ISBN-10: 0521853516
- ISBN-13: 978-0521853514
Computational tools allow material scientists to model and analyze increasingly complicated systems to appreciate material behavior. Accurate use and interpretation however, requires a strong understanding of the thermodynamic principles that underpin phase equilibrium, transformation and state. This fully revised and updated edition covers the fundamentals of thermodynamics, with a view to modern computer applications. The theoretical basis of chemical equilibria and chemical changes is covered with an emphasis on the properties of phase diagrams. Starting with the basic principles, discussion moves to systems involving multiple phases. New chapters cover irreversible thermodynamics, extremum principles, and the thermodynamics of surfaces and interfaces. Theoretical descriptions of equilibrium conditions, the state of systems at equilibrium and the changes as equilibrium is reached, are all demonstrated graphically. With illustrative examples – many computer calculated – and worked examples, this textbook is an valuable resource for advanced undergraduates and graduate students in materials science and engineering.
This is a highly abstract and technical textbook, probably not well suited for self-study. Most students will need an instructor’s help to highlight and clarify the key points, and also provide exercises and problem sets. The author’s examples, all with explanatory solutions provided and scattered through the text, deal mainly with theoretical issues. There are many instances in which concrete examples would be Continue Reading
(Credit Photo @ IG METAlL)
17 December 2012 -From union official to company boss with a two million euro income: this is the step that will be taken next year by Oliver Burkhard, leader of the IG Metall (IGM) trade union in the state of North Rhine-Westphalia (NRW). He has been appointed the new head of personnel at the multinational steel producer, ThyssenKrupp. Following a meeting of the supervisory board, the corporation announced that the 40-year-old will be taking over from Ralph Labonte. His annual income will then climb to around €2 million, or more than €160,000 a month. The director of labour relations, as personnel directors in Germany’s worker-participation companies are called, can only be appointed with the approval of the union and works council representatives on the supervisory board. His position at ThyssenKrupp is therefore determined de facto by IG Metall. Born in Frankfurt, Burkhard trained as an administrative clerk at the Federal Statistical Office in Wiesbaden, where he subsequently worked as a clerk for a further six years. During his employment, he also studied business administration. As a member of the SPD in 1997, Burkhard took up the post of political secretary on the executive board of IG Metall in Frankfurt/Main. He was responsible for the department of business, technology and the environment, as well as tariff policy. Ten years ago, he moved to Dusseldorf where he held a secretarial post in IGM’s North Rhine-Westphalia district headquarters. In 2005, he was again on the IGM board in Frankfurt in the post of area director for tariff policy, but returned just two years later to the NRW IG Metall executive to become district manager. IG Metall regarded Burkhard as a potential successor of IGM federal boss Bertold Huber who, by his own admission, is on an annual salary of “only” about €240,000. Quite a few commentators describe the change from IG Metall to the board of Continue Reading
Mergers: Commission clears acquisition of US titanium producer Timet by US component manufacturer PCC
The European Commission has cleared under the EU Merger Regulation the proposed acquisition of the US titanium producer Timet by the US component manufacturer Precision Castparts Corporation (PCC). Timet produces titanium parts that PCC uses for manufacturing components. The Commission concluded that the transaction would not raise competition concerns, in particular because the merged entity would be unable to raise prices for Timet’s inputs because of the existence of long term supply agreements (LTAs) and original equipment manufacturers (OEMs) bargaining power. The Commission examined the impact of the transaction on the upstream markets of titanium mill and melted products and the downstream markets of titanium casted and forged components. Titanium is a metal used in aerospace applications. The Commission’s investigation took into account the distinct features of the aerospace titanium industry. A small number of engine OEMs account for the majority of component purchases. OEMs regularly enter into LTAs with titanium producers and component manufacturers. LTAs grant OEMs price stability and guarantee suppliers a base of sales. Furthermore, downstream and upstream LTAs are interlinked in that they allow OEMs to direct supplies to component manufacturers of their choice. Finally, the number of upstream and downstream suppliers available to each OEM depends on which suppliers the OEMs have certified for specific products. The Commission’s investigation showed that any potential market power held by Timet upstream would be unlikely to result in price rises by the merged entity for the downstream players. Downstream competitors and OEMs will continue to benefit from the terms of existing LTAs. OEMs have bargaining power and can ultimately certify competitors of the merged entity for the supply of titanium Continue Reading
Scana Industrier ASA has through its subsidiary Scana Subsea, been awarded a contract to deliver machined riser forgings to a non-disclosed customer. The riser systems are intended for North Sea and Australia operations. The initial contract value is 27 MSEK. However, the contract contains additional optional work as machining, welding, assembly and testing, which may bring the total contract value higher. The projects are planned to start immediately and deliveries will commence from 3rd quarter 2013. The contract will also involve Scana Steel Björneborg, Scana Steel Söderfors and Scana Machining, in addition to Scana Subsea who front the contract. Scana Subsea’s main products are forged, rotating symmetrical, long and thin components with a high technical content. These are delivered to riser and tendon systems Continue Reading
Qatar Steel Company was formed in 1974 as the first integrated steel plant in the Arabian Gulf. Commercial production commenced in 1978 with the company becoming wholly owned by Industries Qatar in 2003. Today, Qatar Steel is widely recognized as a foremost leader in the steel industry, extending its pioneering commitment from an expansive mill site located in Mesaieed Industrial City in Qatar. The Company operates a UAE based subsidiary, Qatar Steel Company FZE and has gone for regional consolidation through prudent strategic investments in Bahrain, Saudi Arabia and Algeria achieved through Joint ventures. Qatar Steel employs a committed and skilled workforce of over 1,900 individuals to Continue Reading
Tongjai Chookajorn, left, and Heather Murdoch, the lead authors of Science paper on the design and production of new stable nanocrystalline metal alloys with exceptional strength and other properties. (Credit Photo@ Dominick Reuter)
Most metals — from the steel used to build bridges and skyscrapers to the copper and gold used to form wires in microchips — are made of crystals: orderly arrays of molecules forming a perfectly repeating pattern. In many cases, including the examples above, the material is made of tiny crystals packed closely together, rather than one large crystal. Indeed, for many purposes, making the crystals as small as possible provides significant advantages in performance, but such materials are often unstable: The crystals tend to merge and grow larger if subjected to heat or stress. Now, MIT researchers have found a way to avoid that problem. They’ve designed and made alloys that form extremely tiny grains — called nanocrystals — that are only a few billionths of a meter across. These alloys retain their nanocrystalline structure even in the face of high heat. Such materials hold great promise for high-strength structural materials, among other potential uses. The new findings, including both a theoretical basis for identifying specific alloys that can form nanocrystalline structures and details on the actual fabrication and testing of one such material, are described in a paper published Aug. 24 in Science. Graduate student Tongjai Chookajorn, of MIT’s Department of Materials Science and Engineering (DMSE), guided the effort to design and synthesize a new class of tungsten alloys with stable nanocrystalline structures. Her fellow DMSE graduate student, Heather Murdoch, came up with the theoretical method for finding suitable combinations of metals and the proportions of each that would yield stable alloys. Chookajorn then successfully synthesized the material and demonstrated that it does, in fact, have the stability and properties that Murdoch’s theory predicted. They, along with their advisor Christopher Schuh, the Danae and Vasilis Salapatas Professor of Metallurgy and department head of DMSE, are co-authors of the paper. For decades, researchers and the metals industry have tried to Continue Reading
Dallas billionaire Harold Simmons controlled about 45 percent of Titanium Metals Corp. shares. (Credit Photo @ Dallas Business Journal)
Titanium Metals Corp.’s $2.9 billion acquisition by Precision Castparts Corp. (PCP) was engineered by billionaire Harold Simmons, Titanium Metals’ controlling shareholder, to get around an earlier settlement of claims about Simmons’s company-related dealings, a pension fund said in a lawsuit. Simmons and other Titanium Metals executives didn’t solicit other bids for the maker of titanium used in the aerospace industry and set up the buyout by Precision Castparts, maker of jet-engine parts, to “avoid certain obligations that members of the company’s board are obligated to undertake pursuant to the settlement,” lawyers for the Sunshine Wire & Cable Defined Pension Benefit Plan said in a Delaware Chancery Court suit. Under the offer, stockholders of Dallas-based Titanium Metals will get $16.50 a share, a 44 percent premium, according to the company’s Nov. 9 statement about the deal. Entities controlled by Simmons have agreed to sell their 45 percent stake in the company, known as Timet, officials of Portland, Oregon- based Precision Castparts said. The deal, Precision Castparts’ largest since at least 1995, extends an acquisition spree under Chief Executive Officer Mark Donegan, who has overseen more than two dozen purchases in the past decade, data compiled by Bloomberg show. Planemakers Boeing Co. (BA) and Airbus SAS have urged suppliers to consolidate to help support record increases in jet output.
John St. Wrba, a Titanium Metals spokesman, didn’t immediately return a call for comment on the suit. Dwight Weber, a Precision Castparts spokesman, also didn’t immediately return a call for comment. A Louisiana pension fund sued Simmons and other Timet executives in Delaware last year accusing them of engaging in a half-dozen self-dealing transactions, including below-market- rate loans made by the company to firms controlled by the Texas billionaire and cost-sharing arrangements. Timet officials agreed last month to settle shareholder derivative claims against Simmons and the rest of the company’s board by agreeing to toughen the company’s oversight policies regarding so-called “related-party transactions,” according to an Oct. 10 court filing. A committee of independent directors also will review challenged transactions from the past and issue a report on them by Jan. 31 that will be published in the company’s proxy statement, according to the filing.
Delaware Chancery Court Judge Leo Strine is slated to have a final approval hearing on the settlement of the derivative suit filed by the Louisiana pension fund on Jan. 9 in Wilmington. Lawyers for the Sunshine Wire pension fund contend that Simmons and other Timet executives pushed to sell the company to Precision Continue Reading
A heated ingot, produced from titanium sponge, is heated and transferred to a 4,000-ton open-die press at Timet’s Toronto, OH, plant, prior to further processing as mill products. (Credit Photo @ Titanium Metals Corp.)
- Sales : $529.7 million
- Revenu : $6.6 million
- Last Investment : $182.5 million this year to purchase Remmele Engineering**
- Sales : $5.2 billion
- Revenu : $214.3 million
- Last Investment : $897.6 million in May 2011 to acquire Ladish
- Sales : $7.2 billion
- Revenu : $1.2 billion
- Last Investment : $2.9 Billion in December 2012 to acquire TIMET
- Sales : $1 billion
- Revenu : $117.2 million
- Last Investment : TIMET Opens a New European Service & Distribution Facility In France
Boeing, Airbus and other aerospace companies prefer dealing with one supplier who can do it all instead of buying metal from one company, then negotiating with others to shape the metal into the components they need. Consequently, their suppliers “want to sell a system or solutions rather than something that costs so many cents a pound”
The Precision-Timet marriage is a larger-scale version of a strategy Allegheny and RTI are pursuing. Both metals producers are moving downstream in order to offer more than just metal to the aerospace industry.
”It takes time for all companies to adapt to a new situation where [Precision] is potentially a supplier, competitor and customer to many other companies all at once,” Allegheny, RTI and other companies in the market “will likely tread carefully to avoid damaging commercial relationships with Precision, but will look for their own strategic moves,”
Each stage of production generates scrap metal that provides a source of material for making more titanium and sells for a high enough price to boost the profit margins of the company that controls it. RTI could be hurt if Precision controls a greater portion of scrap following the acquisition, control that could increase RTI’s raw materials costs
Tata Group’s Chairman Ratan Tata(Credit Photo @ Star Media)
The steel company is really suffering because of the downturn in Europe and the UK. All we are trying to do now is to reduce our cost base so that when we come out of that recession we will have a leaner company,”Tata Group’s Chairman Ratan Tata
“We are trying not to have a (job) reduction, we are trying to reduce cost by rationalising units and if we can reduce cost by selling off any piece of business as we did last year.”Tata Group’s Chairman Ratan Tata
Category : Actualités
MIS – inspection robot for 3rd generation reactor vessels (Credit Photo @ AREVA)
November 20, 2012 -AREVA announces the successful completion of its first installation of automated ultrasonic testing (UT) equipment for the steel industry in the United States. The success of this installation is the result of AREVA NDE-Solutions expertise, AREVA’s dedicated Non-Destructive Examination entity. This installation thus marks AREVA’s first venture in implementing Non-Destructive Testing Equipment* (NDE) for use in other industrial markets in the U.S. AREVA’s UT system is a high performance, automated inspection unit that uses the most modern ultrasonic techniques, including Phased Array, to deliver precision in material analysis and consistency in data capture and reporting. This system is designed to meet the quality standards required by the nuclear industry and provides assurance to other industries through AREVA’s proven operations in the demanding environment of nuclear power generation. “AREVA is passionate about providing our customers with innovative, reliable, high-quality testing solutions that provide consistent results with long-term data capture and storage,” said Michael Rencheck, AREVA’s CEO in the U.S. “Our customers, in nuclear and non-nuclear markets, can be confident that our NDE testing capabilities will exceed their expectations in providing both engineering precision and efficiency.” This installation marks a key milestone in applying the nuclear industry’s proven culture of safety, reliability and innovation to industries outside of the traditional nuclear Non-Destructive Testing services business. AREVA, a world leader in nuclear and renewable energy solutions, is leveraging its global organization and engineering expertise to provide state-of-the-art quality performance testing equipment to non-nuclear Continue Reading
A member of staff shows Britain’s Prince Charles, Prince of Wales (R) the blast furnace controls during a visit to the Tata Steel Works in Port Talbot, South Wales on December 14, 2012. Prince Charles visit Tata Steel’s steelworks where he met employees and members of the community, before visiting the Blast Furnace Control Room. — (Credit Photo @AFP)
PORT TALBOT: Britain’s Prince Charles got the lowdown Friday on a new kind of steel which could transform safety for soldiers battling the Taliban in Afganistan.
Charles, the heir to the throne, visited a factory in Port Talbot, south Wales, where Super Bainite has been developed by the Ministry of Defence and Indian steelmaking giant Tata Steel. The lightweight, super-strength anti-ballistic steel has a lattice form, which could be used to armour-plate troop carriers and tanks. Dozens of British soldiers have been killed in Afghanistan by improvised explosive devices buried under roads by Taliban insurgents. Charles, the Prince of Wales, was shown a video about the new product as he toured the factory. “It will give our troops a level of protection they have not had before and which nobody in the world offers. It is unique to the UK,” a Tata spokesman said. “We thought that it would interest the Prince of Wales because, of course, he has two sons in the military.” His oldest son, Prince William, is a Continue Reading
India is looking to Midhani to extend critical materials support for programmes of national importance like manufacture of Sukhoi-MK II fighter aircraft and Advanced Light Helicopter, Arjun and T-90 tanks, commercial launch of PSLV, GSLV and GSLV Mark II and also increase in nuclear power generation beyond 18,000 MW by 2020. On photo, in 2010, Defence Minister A.K. Antony listening to CMD, Mishra Dhatu Nigam Limited Narayana Rao about the Rs. 700 crore extensive expansion of MIDHANI after laid foundation stone at Kanchanbagh campus in Hyderabad on Friday. (Credit Photo @ Mohammed Yousuf -The Hindu)
Rs 700-cr (12.8 Millions euros) expansion programme may be completed next year
Hyderabad, Dec. 6 -State-owned Mishra Dhatu Nigam Ltd (Midhani), a special alloys maker for the defence and strategic sectors, is gearing up to take off into the aeronautics and power sectors from next year. The first phase of the Rs 700-crore ongoing expansion programme of the company is expected to be completed next year, paving the way for it to take up smaller supplies of special alloys for these two sectors. “Three major equipments, including a melting furnace, will be in place by the next half of 2013. We are procuring these at a cost of Rs 200 crore,” M Narayana Rao, CMD, told Business Line here.
The final equipment, a Rs 500-crore plate rolling mill, will be in place in the latter half of the year. -It will be procured from either Italy or Germany.
The final equipment, a Rs 500-crore plate rolling mill, will be in place in the latter half of the year. -It will be procured from either Italy or Germany.
The defence and other strategic sectors are estimated to require about 4,000 tonnes of the special alloys annually.
The defence and other strategic sectors are estimated to require about 4,000 tonnes of the special alloys annually.
These alloys can withstand high temperature. Rao said the company has developed a special nickel-based super alloy for the power sector, which can be used in the boilers and turbines. “We are currently jointly trying out this material with BHEL and NTPC on a pilot basis. This material is intended for the ultra super critical power units in the near future,” he said. After the expansion, Midhani will foray into the aeronautical sector with supplies of another special nickel and cobalt-based super alloy that can go into manufacture of engines and other aircraft parts. “We see a huge potential in this sector from major aircraft makers globally. We have already received the required AS 9100 certification for use of our special alloy in this sector,” Rao said.
“We see a huge potential in this sector from major aircraft makers globally. We have already received the required AS 9100 certification for use of our special alloy in this sector,”
Narayana Rao, MDIHANI’s CEO & President
Midhani clocked a turnover of Rs 500 crore last fiscal, aiming for Rs 550-600 crore sales this fiscal. It has orders worth Rs 1,000 crore from the defence and space sector on hand. Public sector alloys maker for defence and other core sectors, Mishra Dhatu Nigam Limited (Midhani) has firmed up plans to foray into aeronautics and power sectors from the next year. The State-owned Midhani has already embarked on an expansion programme at an estimated Rs. 700 crore and it will be in a position to commence supply of special alloys, though in a small measure, to the two key Continue Reading
Aerospace Process Route for Steel making at Tata Steel (Credit Photo @ Tata Steel)
Tata Steel has today announced a new collaboration with technology company SMS Mevac, which will design a new facility for the production of high-purity vacuum induction melted (VIM) steels for the aerospace industry at the speciality steels business in Stocksbridge, South Yorkshire. The agreement represents an important step for Tata Steel towards consolidating its position as a leading supplier of high-purity steels to the global aerospace market. The VIM production route involves melting high-purity recycled steel and alloys in a crucible furnace, extracting trace elements via a degassing process in a low-pressure vacuum, and casting the purified liquid steel into ingot moulds. The entire melting and casting operation is conducted in an oxygen-free atmosphere, resulting in clean steel with very low gas content. Alloying additions, also carried out under vacuum, allow for very precise control of the steel’s chemical composition. The ingots produced would be refined further by vacuum arc remelting before being rolled or forged into products for the aerospace market. VIM-derived steels are typically consumed in aircraft engine transmissions and bearings as well as aircraft structural and undercarriage components where high-purity steel with characteristics such as enhanced fatigue life, improved corrosion resistance and higher strength levels are critical. Richard Bell, commercial director, speciality steels, said, “We have been supplying VIM steels for many years using ingot sourced from select third parties. However, our aerospace customers have been eager to see Tata Steel make a solid commitment to them by expanding its capability and integrating VIM into its existing UK asset structure. We are delighted to be taking this step and we look forward to working closely with key aerospace supply chains on VIM-derived products.”
“We have been supplying VIM steels for many years using ingot sourced from select third parties. However, our aerospace customers have been eager to see Tata Steel make a solid commitment to them by expanding its capability and integrating VIM into its existing UK asset structure. We are delighted to be taking this step and we look forward to working closely with key aerospace supply chains on VIM-derived products.”
Richard Bell, Tata Steels Commercial director
The managing director of SMS Mevac, Michael Thiehofe, commented, “SMS Mevac is honoured to be the chosen supplier for the engineering and, in case of further execution, the supply of a VIM unit for Tata Steel in Stocksbridge. Our process experts, having more than 20 years of operational know-how in the field of tertiary metallurgy, will closely cooperate with Tata Steel’s experts to design a plant which will satisfy the requirements of this Continue Reading
On January 21, 2011, -David C. Mortimer, CEO of Firth Rixson, speaks to an audience of customers at the new Firth Rixson Forgings LLC facility in Midway as Firth Rixson Vice President and General Manager Chris Bohlmann steps down behind Mitsuhiro Takekawa, assistant general manager for IHI Corporation, who received an award for his company’s partnership with Firth Rixson. (Credit Photo @ Seraine Page – Coastal Courrier)
A scheme to build a new 19,000-tonne steel forging press at Firth Rixson has been given the green light by councillors.
Some 60 new jobs are to be created at the well-established steel company, on Meadowhall Road in Lower Don Valley. The plans were approved at a city centre, south and east planning and highways committee meeting on Monday. The new unit will be built on land which is currently used as the employees’ 90-space car park, and will have four tempering forges and other infrastructure like cranes, storage and control areas as well as the forging press. A new 132-space car park would subsequently be created on land which is currently an overgrown railway embankment on Continue Reading
Feu vert des autorités françaises à la vente des deux divisions Petrochem&Nuclear et Spécialités de Manoir Industries au groupe chinois Yantai Taihai
Le protocole de cession, signé le 31 octobre 2012 entre Manoir Industries et Yantai Taihai, restait soumis à l’autorisation du Ministère de l’Économie et des Finances du fait des activités stratégiques cédées (liées à la défense, au nucléaire et ou à des technologies sensibles). Manoir Industries se félicite que la solution industrielle pérenne présentée ait pu recueillir le soutien des autorités françaises. Les deux partenaires communiqueront dès que possible la date de « closing » prévue pour cette transaction. « La longue collaboration avec le groupe Yantai Taihai a permis à Manoir Industries d’atteindre une position globale de premier plan sur les marchés de la pétrochimie. Les divisions acquises par Yantai Taihai vont pouvoir accélérer leur développement, avec une approche à long terme et de nouvelles opportunités de marché. La division “Aerospace” poursuivra de façon indépendante la forte croissance qu’elle connaît grâce à son expertise technique, et aux investissements réalisés ces dernières années » a expliqué M. Philippe Royer, PDG de Manoir industries.
« La longue collaboration avec le groupe Yantai Taihai a permis à Manoir Industries d’atteindre une position globale de premier plan sur les marchés de la pétrochimie. Les divisions acquises par Yantai Taihai vont pouvoir accélérer leur développement, avec une approche à long terme et de nouvelles opportunités de marché. La division “Aerospace” poursuivra de façon indépendante la forte croissance qu’elle connaît grâce à son expertise technique, et aux investissements réalisés ces dernières années »
Philippe Royer, PDG de Manoir industries.
Les deux divisions Petrochem & Nuclear et Spécialités emploient 1.700 personnes sur 8 sites industriels dont 5 en France (Pitres, Outreau, Saint-Brieuc, Bouzonville, Custines), et réalisent un chiffre d’affaires de 220 millions d’Euros. Le groupe Taihai prévoit d’investir de manière significative dans chacun des sites français dans le cadre d’un Continue Reading
” Major investments have included a 4,000 tonne press costing £9.1 million, a £15.5 million investment in ‘loose tooling’, including moulds for higher integrity ingots, and tooling to create more diverse forged products on the company’s 4,000 and 10,000 tonne presses ”
Source: The Star