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Metals Chips

By Tom Stundza -- Purchasing, 1/17/2008

Steel service center Mi-Tech Steel is being integrated into co-owner Steel Technologies, a flat-rolled steel processor. Mi-tech actually is a 50/50 joint venture of Mitsui & Co. of Japan and Steel Technologies of Louisville, Ky. After the merger, Steel Technologies will have 25 facilities in the U.S., Mexico, and Canada with annual revenue of $1.4 billion.

Torrington Brass & Steel, a stainless steel, high-carbon steel, copper and brass processing and distribution company in Torrington, Conn., has been sold to Rolled Metal Products of Bensalem, Pa., a specialist in stainless steel and aluminum sheet distribution.

Russian steel and mining group Evraz has purchased Claymont Steel for $564.8 million. Claymont manufactures custom discrete plate products at a single mini-mill located in Claymont, Del. This is Evraz's second major acquisition in the U.S., having completed the $2.3 billion takeover of Oregon Steel Mills in January 2007.

Steel processor Heidtman Steel Products of Toledo, Ohio, plans to expand operations at its facility in Butler, Ind. The company, which specializes in processing and marketing flat-rolled carbon steel, will invest approximately $13.5 million to build and equip a 120,000 sq ft addition to its existing Indiana operations. The project includes space for a new multitamping, blanking and steel-slitting operation.

InterWire Products has opened a new ferrous and non-ferrous wire-processing and distribution facility in Queretaro, Mexico. Armonk, N.Y.-based IWP recently expanded its North Carolina and Michigan plants.

German steelmaker Salzgitter has bought Mexican steel-pipe maker Bresmex Tuberia, which makes precision steel tubing fabricated into automotive shock-absorber tubes. The Mexican firm has been renamed Salzgitter Mannesmann Precision.

The SeverCorr steel mill's advanced coating line is operational at Columbus, Miss. At full capacity, the line will galvanize or "galvanneal" 450,000 tons of steel annually. The plant's melt shop and hot mill started operations last August and is projected to average about 100,000 tons/month of bare flat-rolled sheet in the first quarter of 2008.

Ormet Corp. will have the sixth and final potline at its 260,000-metric ton/year Hannibal, Ohio, primary aluminum smelter online by the end of the year, according to Michael Tanchuk, president and CEO.

Carbon structural steel distributor Infra-Metals, a member of the PNA Group of Atlanta, plans to build a seventh service center in New Boston, Ohio. Construction will begin at the end of the first quarter of 2008 and will take a year to complete.

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Monday Midday Business Report (January 15, 2008)
January 15 edition – Includes market alerts for scrap steel, iron ore, copper, steel wire rod, NAND Flash chips, DSPs, and ocean-freight rates. Plus, China may cut tin exports. Watch It Now

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