Fri Dec 2, 2011
PRAGUE Dec 2 (Reuters) - The world's top steelmaker ArcelorMittal will lay off 10 percent of its staff in the Czech Republic due to weaker-than-expected demand amid an economic downturn, a union leader said on Friday.
The steel producer, which makes between 6 and 7 percent of global steel, said in early November a summer dip in demand is deepening into a second-half slump and customers were increasingly cautious due to economic uncertainties.
In the Czech Republic, the company employs about 6,000 people including subsidiaries and trade union member Roman Bacica, who sits on the Czech ArcelorMittal unit's supervisory board confirmed a local agency report that roughly 10 percent of the workers will be let go.
"Demand is not as expected, there are some units in western Europe already idle," he told Reuters. He added workers can apply for a voluntary leave including severance pay by Jan. 20. next year. The plan is for them to leave by the end of the first quarter, he said.
ArcelorMittal in September launched a plan to focus production at its lowest cost steel plants aimed at boosting earnings.
It intends to close steel facilities in Liege, Belgium, and has temporarily idled blast furnaces in France, Germany and Poland as well as arc furnaces in Luxembourg and Spain.
(sourced Reuters)
Showing posts with label Czech Republic. Show all posts
Showing posts with label Czech Republic. Show all posts
Friday, December 2, 2011
Thursday, October 27, 2011
New World Resources Quarterly Coking Coal Price Falls 9%
Thu,October 27, 2011
Oct. 27 (Bloomberg) -- New World Resources Plc, the biggest Czech producer of coking coal, said the average agreed price for coking coal and coke delivery in the fourth quarter declined because of weaker European demand.
The price of coking coal fell 9 percent from the previous quarter to 171 euros ($239) per ton, the Amsterdam-based miner said today in a Regulatory News Service statement. Coke prices for the last three months of the year are seen at 341 euros a ton, down 13 percent from the previous quarter, the company said.
The thermal coal price for 2011 is unchanged at 71 euros a ton, the company said. The miner cut its 2011 coke sales estimate to between 525 and 575 kilotons, from a previous forecast of 720 kilotons.
The figures show continued weakness in coking coal prices and a decline in the price premium over Asian markets, Ceska Sporitelna AS analyst Petr Bartek wrote in a report to clients. The production mix of the company remains “weak,” wrote Bartek who recommends investors “accumulate” shares in the company.
NWR produces coking, or steelmaking, coal and thermal coal and owns four mines and two coking facilities in the Czech Republic. It sells coal to customers including the Czech unit of ArcelorMittal, the world’s largest steelmaker.
NWR, which reiterated its full-year production targets, fell 1.38 koruna, or less than 1 percent, to 143.62 in Prague trading as of 10:30 a.m.
(sourced Business Week)
Oct. 27 (Bloomberg) -- New World Resources Plc, the biggest Czech producer of coking coal, said the average agreed price for coking coal and coke delivery in the fourth quarter declined because of weaker European demand.
The price of coking coal fell 9 percent from the previous quarter to 171 euros ($239) per ton, the Amsterdam-based miner said today in a Regulatory News Service statement. Coke prices for the last three months of the year are seen at 341 euros a ton, down 13 percent from the previous quarter, the company said.
The thermal coal price for 2011 is unchanged at 71 euros a ton, the company said. The miner cut its 2011 coke sales estimate to between 525 and 575 kilotons, from a previous forecast of 720 kilotons.
The figures show continued weakness in coking coal prices and a decline in the price premium over Asian markets, Ceska Sporitelna AS analyst Petr Bartek wrote in a report to clients. The production mix of the company remains “weak,” wrote Bartek who recommends investors “accumulate” shares in the company.
NWR produces coking, or steelmaking, coal and thermal coal and owns four mines and two coking facilities in the Czech Republic. It sells coal to customers including the Czech unit of ArcelorMittal, the world’s largest steelmaker.
NWR, which reiterated its full-year production targets, fell 1.38 koruna, or less than 1 percent, to 143.62 in Prague trading as of 10:30 a.m.
(sourced Business Week)
Monday, February 28, 2011
Italy’s Feralpi Group commissions new electric arc furnace and photovoltaic system
Monday, 28 February 2011
On February 25, Italy-based Feralpi Group, owner of steel and rolling mills in Italy, Germany, Hungary and the Czech Republic, commissioned a new electric arc furnace (EAF) and a photovoltaic system at its historical facility located in Lonato del Garda, Brescia.
The new furnace has been built with the cooperation of Tenova (Techint Group) and Feralpi's subsidiary Comeca, in order to meet the company's needs, targeting mainly improvements in safety standards and in control of the steelmaking process. The new plant, which has been built with an investment of about €10 million, replaces the previous one built in 1997. It includes a control room located at a height of eight meters, allowing a broader view of the steelmaking process. The molten steel is conveyed into a ladle and cast continuously in 140 mm x 140 mm x 12 m billets, to be sold or rolled into rebar and wire rod.
The investment in the new photovoltaic system amounts to €2 million. It consists of 2,718 modules, covering an area of 158 acres and will reduce Feralpi's yearly CO2 output by 640 mt.
On the same day, the company held an event titled "Sustainibility and innovation as competitive advantages", during which Giuseppe Pasini, chairman of Feralpi Group and president of the Italian steelmakers' association Federacciai, underlined the commitment of the company to invest in enhancing the technological level and sustainibility of its steelmaking process.
Tags:rebar, wire rod, billet, longs, semis, Italy, Europe, Feralpi, production, investments, steelmaking , crude steel, European Union, Mediterranean
The new furnace has been built with the cooperation of Tenova (Techint Group) and Feralpi's subsidiary Comeca, in order to meet the company's needs, targeting mainly improvements in safety standards and in control of the steelmaking process. The new plant, which has been built with an investment of about €10 million, replaces the previous one built in 1997. It includes a control room located at a height of eight meters, allowing a broader view of the steelmaking process. The molten steel is conveyed into a ladle and cast continuously in 140 mm x 140 mm x 12 m billets, to be sold or rolled into rebar and wire rod.
The investment in the new photovoltaic system amounts to €2 million. It consists of 2,718 modules, covering an area of 158 acres and will reduce Feralpi's yearly CO2 output by 640 mt.
On the same day, the company held an event titled "Sustainibility and innovation as competitive advantages", during which Giuseppe Pasini, chairman of Feralpi Group and president of the Italian steelmakers' association Federacciai, underlined the commitment of the company to invest in enhancing the technological level and sustainibility of its steelmaking process.
Tags:rebar, wire rod, billet, longs, semis, Italy, Europe, Feralpi, production, investments, steelmaking , crude steel, European Union, Mediterranean
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