Arcelor Mittal invests €200mn in Luxembourg plants
ArcelorMittal has invested €200mn ($261mn) in its three Luxembourg steel plants, including Differdange, Rodange and Belval which were impacted by falling sales, low prices and an overall slump in the European steel industry in 2019.
The investment was made in the wake of US tariffs on industrial goods damaging the European steel economy. The company’s primary focus is to improve the efficiency of the steel plants with equipment that betters the strength and resilience of steel.
Salzgitter Group expands European network
Salzgitter Mannesmann Staalhandel acquired heavy plate specialist trading company Statendam Steel Plates, effective December 31, 2019. Both companies operate out of Oosterhout, the Netherlands. The acquisition enables Salzgitter to extend its product portfolio and strengthen its market presence in the Netherlands, with global crude steel production capacity of 7mn mt.
Schaufler invests in Untha XR shredder
Austria-based metal recycler, Schaufler, has invested in a new shredder, Untha XR, to increase productivity of its scrap-handling operation. It will also lower the energy consumption by 75pc. It is configured to realise an output of 20mt per hour for copper cables, 8mt for aluminium, and 10mt for composites.
Engineers India appoints MSTC as selling agent
Engineers India has appointed MSTC as a selling agent for scrap material and machinery. MSTC will auction through Engineers’s scrap material and secondary arising (ferrous and non- ferrous) including equipment, plant, machineries, precious metals through its website.