banner-1 Hon. Minister of Steel Sh. Narendra Singh Tomar
माननीय इस्पात मंत्री, श्री नरेंद्र सिंह तोमर
banner-1 Hon. Prime Minister of India
भारत के माननीय प्रधानमंत्री जी
banner-1 Hon. Minister of State for Steel Sh. Vishnu Deo Sai
माननीय राज्य इस्पात मंत्री, श्री विष्णु देव साई
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Schuff Steel Utilizes Downturn in the Construction Market to Prepare for Future; Plans to Re-Open Orlando Plant in 2013 

The construction market in the Southeast region has been very challenging over the last few years. During this downturn, Schuff has streamlined and re-organized its Southeast operations. In April 2012, Schuff issued a WARN notice for its Orlando facility in light of the decreased demand for structural steel, but continued to service the Southeast market through its operations in Albany, Georgia.

"We are seeing signs of increased market activity and plan on re-opening our Orlando plant in the first half of 2013," said Ryan Schuff, President and CEO of Schuff Steel. "We have also centralized our Southeast operations and revamped our executive management team by adding and transferring some key employees to our newly renovated Orlando office."

Schuff continues to service its clients by delivering its expertise in Design-Build and Design-Assist services on structural steel projects. "Schuff remains committed to servicing the Southeast region and international markets for the long haul. We have been patiently re-organizing our efforts in the Southeast region, and we look forward to seeing the results in the coming years," Schuff concluded. 


As reported previously at Truth Squad, “The People Should Decide is a ballot question committee funded, according to available campaign finance statements, almost entirely from interests linked to Ambassador Bridge owner Manuel Moroun and his family. Proposal 6  is a constitutional amendment to require a public vote before the state of Michigan could participate in an international bridge or tunnel project. The proposal is aimed at the New International Trade Crossing, a bridge between Detroit and Windsor that will compete with Moroun’s Ambassador for freight and passenger traffic.

Research and Markets: Iron and Steel Pipe and Tube Manufacturing from Purchased Steel Industry in the U.S. and its International Trade [2012 Q3 Edition]

This latest Iron and Steel Pipe and Tube Manufacturing from Purchased Steel Industry report provides the most updated market research on the industry. Its scope contains analysis on the industrys key financial data, competitive landscape, shipment and inventory data, upstream and downstream industries, and trade data.

This 2012 reports 172 pages and over 150 charts and tables cover the domestic market, global market and overseas growth opportunities. Find the latest data on shipments, inventory, international trade, and essential industry price indices available through July 2012. Relying on over a decade of historic data and sophisticated forecasting, the report projects industry trends through 2016. The reports broad scope includes topics from foreign trade to industry structure, while also diving into the details such as market sizes of products and players. Industry experts consistently subscribe to this quarterly-updated market research report.

Steel ministry panel advocates for more powers to ICVL

PTI reported that a steel ministry panel has suggested delegating more powers to the management of International Coal Ventures to enable it to take speedy decisions on acquiring coal assets abroad. 

The panel, constituted for rationalizing the procedure for import and optimizing the use of coking coal, said in its report “The management will have to be delegated with powers to decide quickly on merchant bankers, due diligence etc.” It also recommended that the procedures need to be simplified to choose agencies that do legal, technical and financial due diligence while evaluating the suitability and value of the projects. 

Set up in 2009 as a consortium of five state run firms, ICVL is empowered to make investments up to INR 1,500 crore. For proposals exceeding that, it needs to take approval from an empowered committee of secretaries.

ICVL has failed to acquire any assets so far. 

Source – PTI 

POSCO to spend USD 2 billion to create as may as 200 auto JVs 

It is reported that South Korean steel conglomerate POSCO Limited plans to spend at least USD 2 billion to create as many as 200 JV, many with US auto suppliers.
Mr Steven Bigatti, executive director of business development at POSCOs North America business group in suburban Detroit, said that POSCO and its international trading subsidiary Daewoo International, look to own as much as 20% of the JVs. POSCO wants to create ventures with auto suppliers, including metal stampers for doors and chassis as well as motor manufacturers.
He added that "We feel in the future of the supply business, companies will have more vertical integration. We have the raw material, and this is a way to participate in this trend of reverticalization of the supply base while maintaining our core competencies and matching up with the technology know how we just dont have."
The JV strategy is designed to increase POSCOs revenue by 220% to USD 200 billion globally by 2020 from USD 62.2 billion with net income of USD 3.3 billion in 2011.
Mr Bigatti said the company expects North American non steel automotive revenue to reach USD 500 million by 2015 from USD 200 million in 2012. Total North American revenue is projected to rise to USD 5 billion by 2020 from USD 1 billion in 2012. POSCO is not limiting the JVs to automotive.
Mr Bridget Freas, a senior equity analyst covering the metals markets for Morningstar Inc of Chicago, said that vertical integration is emerging as a trend among steel makers. POSCO is going in a different direction by acquiring assets on the end product side.
He added that "Vertical integration has been a hot topic in steel, but that has been mostly upstream mining and scrap recycling for raw materials, not downstream into the end markets. But I cant imagine too many structural JVs will be formed because automakers likely wont want to tie themselves to only one overarching supplier."
POSCO supplies engine and transmission parts to General Motors and Chrysler Group; seating components and aluminum and steel wheels to Ford Motor Co and Chrysler and textiles to GM. It also operates an aftermarket business selling wiper blades, commercial vehicle tires, steering and suspension components and batteries, among other products.

POSCO operates one wholly owned plant in the United States, a steel processing plant in McCalla and two in Mexico. It also operates a 50:50 JV in Pittsburg with US Steel Corporation USS POSCO Industries that supplies the oil and gas industry.

Source - Auto News