Steel company history pages

We have prepared historical profiles for ~25 leading steelmakers including ArcelorMittal, Baowu, British Steel, Evraz, Gerdau, IMIDRO, JFE Steel and Liberty House Group. This list also includes Metinvest, MMK, Nippon Steel, Nucor, POSCO, SAIL and a dozen or so other top steel producers.

To read about the history of these firms visit: https://www.steelonthenet.com/history.html

blogger@steelonthenet.com

Al-Tuwairqi and POSCO to exit from Pakistan

Well - here is a shocking news report.

It would seem that Al-Tuwairqi of Saudi Arabia and POSCO of South Korea, who together invested in the TSML DRI plant in Pakistan, have been unable to secure the low-cost natural gas needed to operate the new DRI facility. Requests to the government of Pakistan to consider TSML’s position have seemingly been ignored; with the result that the DRI plant has not operated since Septem­ber 2013.

In a board meeting held on 27^th January 2015 in Dam­­mam, Al-Tuwairqi and POSCO thus decided to permanently close the facility and to exit Pakistan. The investment in the DRI facility was around $340 million. TSML on completion of its integration with steel production was envisioned to be the largest fully integrated steel complex in Pakistan with a capacity of ~1.5 million tonnes per annum. TSML’s exit from Pakistan will therefore be a real blow to the industry.

For this and similar news, check out our steel industry newsfeed at http://www.steelonthenet.com/news.php

Andrzej M Kotas

Chief Executive

www.steelonthenet.com

POSCO to replace five CEOs

POSCO Group is to replace CEOs at five of its six business units as part of the newly-named chairman Kwon Oh-joon’s reform plan to overhaul the world’s fifth-largest steel maker. On Friday, POSCO affiliates announced the key agenda of their shareholders’ meeting planned on March 17, including candidates of new in-house directors who are likely to be named their new CEOs. According to their statement, POSCO's Shin Jung-suk is the only one who will retain his job due to his successful management performance.

Wow!  Might steel producers in European benefit from similar treatment? I bet they would...

Visit http://www.steelonthenet.com/news.php for further world steel news reports.

Steel company history

We have posted some pages with company history for selected steelmakers in the Knowledge Base section of our website. These pages cover historic developments [including mergers, acquisitions where relevant] at ArcelorMittal (incl Mittal Steel), Baosteel, British Steel (later Corus), Evraz Group, Nippon Steel, Nucor, POSCO and the Riva Group. Further historical profiles will follow in the coming weeks.

 

blogger@steelonthenet.com