Steel Sector

Fourth Quarter Revenue Drop for U.S. Steel by 37 Percent

In the fourth quarter U. S. Steel faced loss of $999 million and said it is facing "significant headwinds and uncertainty" for 2016.

There was also a steep drop in the revenue by 37 percent to $2.57 billion but it managed to surpass the expectations of the analysts' who forecasted $2.52 billion.

Hundreds of Jobs Saved after as Caparo Tubular Solutions is Acquired in a Deal

Hundreds of Jobs Saved after as Caparo Tubular Solutions is Acquired in a DealSome jobs are saved at the troubled Caparo Tubular Solutions as it has been acquired by the Gupta family that manages the metals groups, Liberty House according to PwC.

CEO of ArcelorMittal South Africa Says It Important to Restructure the Financial Position of the Company

CEO of ArcelorMittal South Africa Says It Important to Restructure the Financial Position of the Company

ArcelorMittal and Nippon Steel pay $1.55 billion for ThyssenKrupp's Calvert factory

ArcelorMittal and Nippon Steel pay $1.55 billion for ThyssenKrupp's Calvert factory Steel giant ArcelorMittal and Nippon Steel & Sumimoto Metal have settled to buy a US steel plant which is owned by Germany's ThyssenKrupp for $1.55 billion.

The ThyssenKrupp plant is located in Calvert, in the southern US state of Alabama. It has a total capacity of 5.3 million tonnes of steel intended mainly for auto manufacturing and construction.

ArcelorMittal Still Shows Interest In ThyssenKrupp's Alabama Plant

ArcelorMittal Still Shows Interest In ThyssenKrupp's Alabama Plant The world's largest steel mogul, ArcelorMittal (ISPA. AS), has shown interest in the steel rolling mill in Alabama that ThyssenKrupp (TKAG. DE) is seeking to sell.

ThyssenKrupp AG has decided to sell off its plans its unprofitable American steel operations, and it is considering  expanding in Brazil and exiting the U. S entirely.

Tata Steel Loses Shares in Second Quarter

Tata Steel Loses Shares in Second QuarterTata steel suffered a total loss of Rs. 364 crore together with Tata Steel Europe in the second quarter and has gained only Rs. 212.4 crore during the period.

The company's shares fell by 4%, as reported. Operational performance of the giant disappointed as the earnings before interest, tax, depreciation and amortization (EBITDA) came down by 16.9% to Rs. 2, 045 crore year-on-year.

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