NEWS
Combining strengths
SSAB becomes full owner of Tibnor
SSAB
Fortum and Lukoil sign agreement on technology collaboration
is becoming the full owner of the steel and non-ferrous metals distributor Tibnor. This is taking place by SSAB, which currently owns an 85 per cent stake in the company, acquiring Outokumpu’s 15 per cent minority stake. Tibnor is a leading steel and non-ferrous metals distributor in Sweden and the rest of the Nordic region, and also has a subsidiary in Latvia. “Tibnor is an important channel for reaching our customers on our Nordic domestic market and we see that the company possesses good development potential,” says SSAB’s president and CEO Martin Lindqvist. SSAB is paying €44 million in cash for Outokumpu’s 15 per cent stake. The sale is not expected to impact on customer relations between Outokumpu and Tibnor, which markets and sells products from many different suppliers. Visit: www.ssab.com
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ortum and the Russian energy company Lukoil have signed a technology collaboration framework agreement. The agreement covers collaboration in the areas of operation, maintenance and capacity upgrades of power plants and heating networks, among others. The companies also agreed on research and development collaboration aiming to improve energy efficiency. The agreement is based on Fortum’s long experience in providing operation and maintenance services to Russian energy companies. Fortum, for example, performs efficiency and productivity optimisation audits at Lukoil’s power plants. “Collaboration with Lukoil provides us with even better opportunities to develop energy-efficient electricity and heat production in Russia,” says Fortum’s president and CEO Tapio Kuula. Visit: www.fortum.com
Wärtsilä and Versa Power to jointly develop fuel cell technology
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ärtsilä, the leading provider of power solutions to both the marine and energy markets, and Versa Power Systems (VPS), a leading developer of environmentally friendly, high-power solid oxide fuel cells (SOFC), have announced a cooperative agreement to develop and integrate
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Versa Power’s SOFC technology into Wärtsilä products. A key target of the agreement is to develop commercial Wärtsilä fuel cell products that generate power and heat for various applications in the distributed energy and marine markets. The agreement allows Wärtsilä to integrate VPS fuel cell stack modules, especially for larger power
Vallourec strengthens its local presence in Saudi Arabia
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allourec, world leader in premium tubular solutions, has reached an agreement to acquire Saudi Seamless Pipes Factory Company Limited ‘Zamil Pipes’, the first seamless OCTG processing company in Saudi Arabia. Located in Dammam, Zamil Pipes is close to Vallourec’s new VAM threading plant which is currently under construction and due to be commissioned in H2 2011. In complement to this project, the acquisition of Zamil Pipes will provide Vallourec with ready-to-run heat treatment capacity and threading facilities of up to 100 kt of pipe per year. With these two operations, Vallourec will reinforce its local presence in the Kingdom, through additional finishing capacities and reduced lead-times, to serve the premium OCTG market in Saudi Arabia. Philippe Crouzet, chairman of Vallourec’s management board, stated: “With local heat treatment and premium threading facilities, Vallourec and Zamil Pipes will enjoy an unmatched competitive position. The combination of Vallourec’s expertise in VAM premium OCTG technology and Zamil Pipes processing facilities will strengthen the local offer to serve Saudi Aramco and other customers in the Middle East.” Visit: www.vallourec.fr range products. For VPS, the agreement provides a dedicated partner with the ability to commercialise fuel cell products in large markets around the globe. Offering customers environmentally sound and sustainable energy production technologies is an essential part of Wärtsilä’s strategy. Visit: www.wartsila.com
