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The pace of strategic adjustment of global steel enterprises accelerate

Add Time:2021-01-14 Hits:45

In 2020, in response to the impact of the new crown pneumonia epidemic and changes in the international situation, global steel companies have made some strategic adjustments. On May 20th, ThyssenKrupp issued a document stating that it is looking for suitable partners for its steel and marine systems business (including shipbuilding and other businesses), including three business sectors including material services, industrial parts and auto parts. Will continue to remain within the group. It is reported that the annual sales of materials services, industrial parts and auto parts businesses totaled 18 billion euros, accounting for 43% of the group's total annual sales. The steel business that will be removed from the core business is ThyssenKrupp's business sector with the largest loss in the first quarter of this year. On July 1, India’s Jindal Steel and Energy Company (JSPL) stated that it plans to sell its subsidiary Jindal Shadeed in the Sultanate of Oman to a Mauritius-based company for a price of US$251 million. Templar Investments. After the transaction is completed, JSPL's comprehensive production capacity will drop by 21.8%. JSPL hopes to offset part of its debt, improve its balance sheet, and improve its credit rating. On November 9, Japan Iron and Steel Engineering Holdings (JFE) announced two structural reform measures: It will complete the renovation of the No. 6 blast furnace of the East Japan Steel Works in Chiba, Japan by December 2022 (expected Cost about 412 million U.S. dollars), shut down the upstream process and hot rolling equipment of its Keihin Industrial Zone by September 2023. In addition to shutting down equipment and implementing transformations, structural reform measures for JFE steel production also include the use of advanced IT and big data technology, streamlining and optimizing the organizational structure. JFE Steel expects that structural reforms will contribute approximately 85 billion yen (approximately US$813 million) in annual profits. On December 9th, ArcelorMittool announced that it had sold the US$1.4 billion ArcelorMittool US company in the form of a combination of cash and stock to North America’s largest iron ore company -Cleveland-Cliffs (Cleveland-Cliffs). On December 8, U.S. Steel announced that it would acquire the remaining 50.1% of the American electric furnace steel plant-Dahe Steel, thereby acquiring all the shares of the most advanced plate manufacturer in North America. The transaction is expected to be completed in the first quarter of 2021. Comment: Accelerating the pace of strategic adjustment is not only an effective measure to deal with the current severe impact of the new crown pneumonia epidemic, but also an important magic weapon to adapt to changes in the international market.


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