Cogne approves capital increase to buy Mannesmann
Cogne Acciai Speciali has approved a €45 million ($50m) capital increase. This decision will provide the necessary financial support for the acquisition of Mannesmann Stainless Tubes from Salzgitter AG, Kallanish learns from the Italian stainless long steel producer.
In a statement, Cogne highlights that this financial operation is a significant move designed to bolster the company’s ongoing expansion and strengthen its position in the special steel industry. It aims to enhance its portfolio and expertise in the global market.
The acquisition is expected to be finalised in the fourth quarter. Cogne, a subsidiary of Walsin Lihwa, is committed to expanding its global reach and catering to increasing demand from the aerospace, nuclear, medical, and energy sectors. As part of its ongoing efforts to improve operations, the company is currently investing in the modernisation of its Aosta plant in Italy. This includes revamping the cooling chamber of the continuous casting machine for special steel blooms. The upgrade was implemented during this year’s four-week summer shutdown.
The steelmaker recently expanded its operations by acquiring ComSteel Inox, its main stainless steel scrap supplier, and a portion of Outokumpu’s long products business in Degerfors and Storfors, Sweden.
Since it was acquired by Walsin Lihwa, it has grown through a series of mergers. Last year, it completed the acquisition of Sheffield-headquartered Special Melted Products (SMP). Walsin is investing over €110 million ($121m) in Cogne’s Aosta plant between 2022-2024. The growth strategy involves gaining market share in Europe and Asia, and developing the group’s presence in the US (see Kallanish passim).
Natalia Capra France
Tubemaker Wiederholt sources CO2-reduced steel from ArcelorMittal
Wiederholt, a German producer of precision steel tube, and ArcelorMittal have signed a memorandum of understanding to use CO2-reduced steel in production, Kallanish learns from the steelmaker. Both companies have been working together for several decades.
As part of the partnership, Wiederholt intends to source hot-rolled steel from ArcelorMittal with CO2 savings of up to 65% compared to traditional production methods.
The CO2 reduction will be achieved through “XCarb Green Steel certificates” and steel with the “XCarb recycled and renewably produced” label. According to ArcelorMittal, at least 75% recycled scrap is used in the production of this steel. The CO2 savings that Wiederholt can pass on to its customers are verified by environmental product declarations (EPDs), the steelmaker says.
Wiederholt’s precision steel tube is mainly used in the automotive industry, including shock absorbers, camshafts, steering parts, cardan shafts and stabilisers. It has committed to becoming carbon neutral in Scope 1 and 2 emissions by 2030, in accordance with the Greenhouse Gas Protocol.
Separately, ArcelorMittal Germany has announced that its Duisburg long products mill has been certified by organisation ResponsibleSteel, following a two-year audit by inspection company GUTcert.
Christian Koehl Germany
Van Leeuwen launches brand for ‘CO2-reduced’ tubes
Van Leeuwen Pipe and Tube Group has launched its own brand for “CO2-reduced” steel tube products, called Van Leeuwen Impact.
This umbrella brand represents a new line of CO2-reduced steel tubes manufactured by a range of renowned European tubemakers, Kallanish hears from the Dutch distributor.
With the introduction of its Impact brand, the company aims to support the sustainability ambitions of its partners and customers in the tube industry. According to Van Leeuwen, customers are increasingly seeking sustainable solutions.
Van Leeuwen says its Impact products are sourced from manufacturers that share its dedication to sustainability. “Working closely together with our partners in the supply chain, we are currently stocking and distributing an entire range of CO2-reduced steel pipes and tubes,” says chief executive Joop Sassen.
The company’s announcement does not specify the makers of the CO2-reduced tubes of its branded product line, nor does it provide information on the production routes.
Christian Koehl Germany
