Mechel Announces Opening of Credit Facilities in the Amount of US$1 Billion by Gazprombank

Mechel OAO, one of the leading Russian mining and metals companies, announced that its subsidiaries have been provided with lines of credit totaling US$1 billion from Gazprombank OAO. Gazprombank Open Joint-Stock Company has opened credit lines totaling US$1 billion for Mechel’s subsidiaries. Credit facilities provided will be used mainly for short-term debt repayment. The credit facilities provided... 

Portland Bolt Launches an ASTM F1554 Anchor Bolt Resource Website

The heavy construction industry is increasingly recognizing the benefits of specifying ASTM F1554 anchor bolts for steel to concrete connections. F1554AnchorBolts.com is a new technical resource developed by Portland Bolt & Manufacturing Company that clearly outlines the benefits of the new standard for construction applications. The content draws on the company’s 96 years of anchor bolt... 

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Mechel Signs Contract With Minmetals To Construct Rail and Structural Steel Mill

Mechel OAO, one of the leading Russian mining and metals companies, announces that it has signed a contract with Minmetals, one of China’s largest state-owned industrial corporations, to construct a rail and structural steel mill at its Chelyabinsk Metallurgical Plant OAO subsidiary. The commercial agreement, signed today, is the first in accordance with the Memorandum of Intent signed between... 

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Garneau Inc. introduces Reelpipe

Garneau Inc. introduces its new Flexible Pressure Pipe, “Reelpipe” developed for Canadian oilfield production applications for oil emulsion, gas gathering and water disposal. Garneau “Reelpipe” is a high strength, lightweight, corrosion-resistant, robust, flexible pressure pipe developed for the petroleum industry. The product is made from thermoplastic and composite materials,... 

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ArcelorMittal to Increase Its Long Carbon Steel Production Capacity in Brazil

ArcelorMittal, the world’s leading steel company, today announces new investments of US$1.6 billion in its long carbon steel operations in Brazil. The investments are in addition to the US$1.2 billion of investments previously announced in respect of the expansion of the Monlevade plant in Minas Gerais. These investments will expand ArcelorMittal’s crude steel production capacity in the long carbon... 

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Frontline Strategy’s IIG Fund Invests USD 7 mn in Krishna Saa Fabs

Mauritius-based Frontline Strategy Ltd, a Fabiani Family Office-anchored asset management company with prime focus on private equity investments, today announced an investment of USD 7 million in Krishna Saa Fabs Private Limited. Krishna Saa Fabs fabricates structural engineering products used in the high growth infrastructure support sectors of telecom, national highways, airports, and ship-building.... 

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Reliance Steel & Aluminum Co. Completes PNA Group Acquisition for $1.1 Billion

Reliance Steel & Aluminum Co. announced that it has completed the previously announced acquisition of the outstanding capital stock of PNA Group Holding Corporation, a national steel service center group. The transaction value of approximately $1.065 billion included approximately $725 million of PNA’s debt that was repaid or refinanced, including the settlement of Reliance’s cash tender offers... 

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New Vehicle Manufacturing Company Forms to Produce Advanced Hybrids Using Ultra-Lightweight Stainless Steel Unibody Construction

Fisher Coachworks LLC announced on July 22, 2008 its formal launch and plans to manufacture energy optimized lightweight hybrid vehicles using advanced materials and propulsion systems, as well as new manufacturing technologies. Fisher’s launch product will be a 40’ Transit Bus that is nominally half the weight and gets twice the fuel economy of current hybrid buses on the market. “The market... 

Lundin Mining Corporation: Tenke Project Update

Lundin Mining Corporation is pleased to provide an update on the Tenke Fungurume Copper/Cobalt Project, in Katanga Province, Democratic Republic of Congo. Lundin Mining holds a 24.75% interest in Tenke Fungurume. The project is under construction by operating partner Freeport-McMoRan Copper & Gold Inc. (“Freeport”). Upon completion of this first phase of Tenke development, the mine... 

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Territory Resources To Spend AU$25M On Expansion of Frances Creek Iron Ore Project

Territory Resources announced today it has committed to spend $25 million over the next two years with the aim of substantially expanding its high grade resource base and extend mine life at the Frances Creek iron ore project. Territory Resources Chairman Michael Kiernan said the Company was focused on delivering a steady increase in production at Frances Creek, backed by substantial exploration of...