BACE Leads the Way – Reduces Prices to Customers Following Steel Trends

BACE, a leading manufacturer of heavy duty balers and compactors for use in the recycling and waste management industry, announces that effective immediately it has reduced its prices on all products to reflect the current reduction in steel costs. “BACE has always placed our customers first. As steel prices increased dramatically over the past three years, BACE took the unusual position of absorbing... Read more..

General Steel Holdings Opens Branch in Chengdu, Sichuan Province

General Steel Holdings, Inc., one of China’s leading non-state-owned producers of steel products and aggregator of domestic steel companies, today announced the opening of its Longmen joint venture subsidiary branch office in Chengdu, Sichuan. The Chengdu Longmen branch will primarily be focused on sales and marketing efforts to meet increased demand for steel building materials generated by... Read more..

China Gengsheng Minerals, Inc. Wins $2 Million New Refractory Product Contract with a Chinese Steel Mill

China Gengsheng Minerals, Inc., a materials technology company in China with products capable of withstanding high temperature, saving energy and boosting productivity in certain industries such as steel and oil, today announced that it has signed a new full-service contract for refractory products with Hebei Wenfeng Iron and Steel Co., Ltd. (”Wenfeng”) in Hebei Province. The total value... Read more..

BE Group AB: Be Group Implements Savings Programme to Meet Rapidly Falling Demand

On account of reduced demand and uncertain market prospects, BE Group is implementing a cost saving programme. The aim is to reduce total annual costs by approximately SEK 100 million over a two-year period. The number of employees is expected to be reduced by around 120 and the reduction will be implemented primarily in Sweden, Finland, Poland and Latvia. However, other markets will also be affected.... Read more..

ArcelorMittal Launches Voluntary Separation Programmes

ArcelorMittal is today meeting with its European Works Council to present voluntary separation programmes to be launched across the group. This is to help achieve the company’s stated aim of reducing SG&A (Selling, General and Administrative) expenditure by US$1 billion in response to the current economic situation. The focus is primarily on non-production employees, in particular those in SG&A... Read more..

Champion Minerals Completes Initial Field Work on Fermont Iron Property

CHAMPION MINERALS INC. provide shareholders with an update on results of the initial field work completed to date as part of the Phase 1 exploration program on the 15 mineral concessions (refer to the appended table for a complete listing of concessions), of the Fermont Iron Property (the “Property”) in the Fermont Iron Ore District (”FIOD”) of northeastern Quebec. The 261.5... Read more..

Champion Minerals Initiates Phase 2 Resource Drilling Along 57 km Taconite Iron Formation at the Attikamagen Iron Property

CHAMPION MINERALS INC. provide an update on the recently completed Phase 1 field exploration program at the Company’s wholly-owned Attikamagen Iron Property, in western Labrador, 15km east of the town of Schefferville, Quebec. Labec Century Iron Ore Inc. is currently financing the exploration and development program on the Property pursuant to an option agreement with the Company, wherein CIOI... Read more..

China Opportunity Acquisition Corp. to Merge with Chinese Specialty Steel Company

China Opportunity Acquisition Corp. announced that it has entered into a definitive agreement with Golden Green Enterprises Limited pursuant to which it will merge with China Opportunity, with BVICo being the surviving entity. BVICo’s subsidiary, Henan Green Complex Materials Co., Ltd, is a leading private manufacturer of cold-rolled specialty steel products in China. Ge Rui’s current management... Read more..

Cardero Provides Update on the Pampa El Toro Iron Sand Project, Marcona District, Southern Peru

Cardero Resource Corp. provide an update on the Pampa El Toro (PET) iron sands project, located in the Marcona district, Peru. Cardero is currently focusing on two production scenarios for PET iron concentrate, involving near-term iron concentrate production and medium-term pig iron production. The first scenario involves early production of a direct-shipping iron oxide (magnetite) concentrate that... Read more..

McGladrey Capital Markets Leads Negotiations as Böhler Uddeholm AG Acquires Summerville Steel Company

Böhler Uddeholm AG has acquired Kent, Wash.-based Summerville Steel Company, a privately-held distributor of specialty steel products. Transaction terms were not disclosed. McGladrey Capital Markets LLC (www.mcgladreycm.com) initiated the transaction, led the negotiations and acted as the exclusive financial advisor to Summerville Steel. About McGladrey Capital Markets McGladrey Capital Markets LLC... Read more..