Chinese steel firm buys controlling stake in global steel trader; Smurfit Kappa opens tap and bag plant in Spain; Nigeria’s Lagos mulls healtcare waste management policy;
Chinese company buys controlling stake in global trader
China’s Hebei Iron and Steel Group has agreed to acquire a 51% controlling stake in steel trader Duferco, as the country’s steel exports rise to record levels. This is believed to be the first example of a state-owned Chinese steel company taking a majority shareholding in a global metals trader. Duferco is based in Luxembourg with offices in Belgium, Italy and Switzerland.
Smurfit Kappa’s new Spanish plant
Packaging company Smurfit Kappa has opened a new facility for ‘taps and bags’ in Ibi, Spain, with an investment of €28m (£22m), expanding its operations in the Mediterranean region. The packaging comprises an outer box to provide protection during transit while the bag inside preserves liquid.
Bills to end copper and scrap metal theft in Guam
The Guam legislature is to discuss a pair of bills aimed at putting an end to theft of copper wire and scrap metal. Stringent operating guidelines for scrap metal units are proposed as well as heavier fines for offenders. One bill requires businesses to maintain proper records of scrap transactions while the other states that scrap metal businesses can buy materials only from persons in possession of a government issued identification certificate.
Nigeria considers healthcare waste management policy
The Lagos State Government in Nigeria is considering a new healthcare waste management policy to regulate and inculcate best environmental practices. The government is also willing to partner with private investors who would manage healthcare waste treatment facilities across the state.
Aluminium plant in US
American Specialty Alloys is planning a scrap-fed aluminium mini-mill, possibly in Columbus, Mississippi, to produce flat-rolled sheets for the automotive industry as it looks to substitute steel in the manufacturing of new vehicles. The cost of the plant is $1.2bn (£767m). The first phase of the operation is anticipated to begin in late 2016 with full phase one capacity production occurring six months later.