Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

ThyssenKrupp, Vale to Buy Land for Brazil Steel Plant
Jan 14, 2005
 Printable format
 Email this Article
 Search

ThyssenKrupp AG, a German-based steelmaker has entered into an agreement that will finance a study and buy land for a proposed 1.3 billion-euro (approx. U.S. $1.7 billion) steel plant in Brazil that would supply the U.S. and Europe.

ThyssenKrupp signed the agreement with Brazil-based Vale, said to be the world's largest iron-ore producer. "We have taken the plan to build a steel plant in Brazil one step further,'' Erwin Schneider, spokesman for ThyssenKrupp's steel unit, said.

ThyssenKrupp is expanding steel capacity after the company's production reached a record in the fiscal year ended in September 2004. The plant in Rio de Janeiro, Brazil will reportedly produce as much as 4.4 million tons of raw steel a year starting in 2008, ThyssenKrupp said.

Additionally, Luxembourg-based steelmaker Arcelor SA said it plans to spend $3 billion in Brazil by 2010 to make acquisitions and expand operations. Brazil is the lowest-cost producer among the world's biggest steel-producing nations, according to Metal Bulletin.

Steel prices surged last year as global demand grew, led by China, the world's biggest user. European hot-rolled coil for export rose 94 percent last year to $592.50 a metric ton, according to Metal Bulletin. (Bloomberg)

Back to Daily News

 

Daily News

...........................................................

Oct 22, 2014: Middleby to add U-Line to residential appliance business

Oct 22, 2014: iRobot's 3Q exceeds expectations, driven by Home Robots growth

Oct 22, 2014: Whirlpool Canada named 2014 Energy Star Manufacturer of the Year

Oct 22, 2014: ACCA wants the HVAC manufacturers to develop open, universal communication protocols

Oct 22, 2014: IHA launches website to connect OEMs with consumers

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014
April 2014: Appliance Magazine Market Insight: February 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows