ArcelorMittal reports that a portion of its mill in Calvert, Ala., suffered minor damage over the weekend due to a small, localized tornado related to Hurricane Nate. The company halted production on Friday night for safety reasons, but resumed operations Sunday afternoon.
Nippon Steel & Sumitomo Metal Corporation (NSSMC) announced today that it will take measures to realize the full capabilities of AM/NS Calvert, a US based 50/50 joint venture between NSSMC and ArcelorMittal (AM), to manufacture Ultra High Tensile Strength Cold-rolled and Coated Steel sheets with High Formability by the end of 2016. AM/NS Calvert will begin producing such materials up to 1.2 gigapascals (GPa) of tensile strength to be used for cold pressed structural car body parts.
AM/NS Calvert production continues to increase with the hot strip mill running at 83 percent utilization in June. Initial slab shipments from ArcelorMittal Tubarao and ArcelorMittal Mexico were received in second quarter and are currently in trials.
AM/NS Calvert received its first shipment of slab from ArcelorMittal Lazaro Cardenas on May 24 for trial testing. Approximately 2000 slabs were delivered to the former ThyssenKrupp mill.
A spokesperson for ArcelorMittal says the company is currently investigating a combination of both domestic and international slab sources for AM/NS Calvert.
AM/NS Calvert has a total capacity of 5.3 million tons including hot rolling, cold rolling, coating and finishing lines. According to the ArcelorMittal spokesperson the plant is operating at approximately 76 percent capacity.
The question being asked sjnce the sale of ThyssenKrupp Steel USA plant in Calvert, Alabama was announced is, how will the ownership by the ArcelorMittal (AM) and Nippon Steel Sumitomo Metals Corporation (NSSMC) joint venture impact the flat rolled steel markets?
ArcelorMittal (AM) along with their joint venture partner Nippon Steel & Sumitomo Metal Corporation (NSSMC) have reached an agreement with ThyssenKrupp AG to acquire 100 percent of ThyssenKrupp Steel USA. The purchase was valued at $1.55 billion for the 5.84 million ton rated rolling facilities located in Calvert, Alabama.
It is being reported by various media outlets that a deal between ThyssenKrupp AG and a joint venture consisting of ArcelorMittal and Nippon for the assets of the ThyssenKrupp Steel USA steel mill located in Calvert, Alabama will be made soon. Expectations are for the announcement of a deal to come as early as lat this week or perhaps early next week when ThyssenKrupp is scheduled to report earnings on Monday.
Ad hoc statement in accordance with § 15 Securities Trading Act:
ThyssenKrupp postpones establishment of annual financial statements Exclusive negotiations on possible sale of US steel plant.
Rene Obermann, chief executive of Deutsche Telekom AG, will replace Prof. Dr. Beatrice Weder di Mauro on the ThyssenKrupp Supervisory Board effective November 1, 2013. Economist Weder di Mauro resigned after being appointed to a European Commission group on fiscal development of the euro zone.
Cevian Capital is making a move on ThyssenKrupp AG saying it will raise its stake in ThyssenKrupp to 10 percent by the end of the year and will seek a seat on the supervisory board, according to sources reported by German publication Manager Magazin. It is speculated that Cevian could fill one of three board seats currently held by the Krupp Foundation.