Russian steel giant Severstal has announced the sale of its US plants for $2.3 billion, a deal that will be finalized by the end of 2014.
The sale includes Severstal Columbus (Mississippi) to Steel Dynamics and Severstal Dearborn (Michigan) to AK Steel Corporation, of which AK Steel has confirmed its individual acquisition was worth approximately $700 million.
With harsh sanctions coming down against Russian companies, Severstal felt the time was right to dispose of its foreign assets.
A Critical Step for Long-Term Nuclear Safety China is nearing a major milestone in its nuclear energy program as engineers push forward with a deep geological research laboratory designed to study the safe disposal of radioactive waste. Known as the Beishan Underground Research Laboratory, the facility is taking shape in the remote Gobi Desert in Gansu province. As a result, when completed, it
Inconel® is a family of nickel-chromium superalloys known for high strength, corrosion resistance, and oxidation resistance at elevated temperatures. Well-suited to demanding applications, Inconel alloys typically comprise 50–70% nickel, 15–25% chromium, and other elements such as iron, cobalt, molybdenum, and tungsten. The specific composition of an Inconel alloy depends on its intended applicati
Hyundai Steel plans to build a hydrogen-ready low-carbon steel mill in Ascension Parish, Louisiana. The project carries an estimated cost of $6 billion and marks the company’s first U.S. steelmaking facility. State officials say the mill will support automotive, energy, and industrial markets that need cleaner flat-rolled and long-product supply. The plant forms part of Hyundai’s broader push t
A research team at the University of Toronto has created a metal matrix composite that stays light, strong, and stable at temperatures where most aluminum alloys fail. The material is produced through a combination of laser-based additive manufacturing and micro-casting, giving it a reinforced-concrete-like architecture on a microscopic scale. That structure delivers strength at both ambient and e
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