Nipon Steel Sells Half Of Its Shares In Acerinox

Nipon Steel Sells Half Of Its Shares In Acerinox

Featured Acerinox plant in Los Barrios

Nippon Steel has announced the sale of a 7.9% stake in Acerinox, the Spanish stainless steel manufacturer, for 218 million euros. The transaction was completed in a private placement by UBS amongst big investors in a few hours at 10.2 euros per share. The price was 5% below the close on Thursday June 17.

Acerinox, S.A. is a stainless steel manufacturing conglomerate group based in Los Barrios, Province of Cadiz. The company was founded in 1970, and initially received technical support from the Japanese firm Nisshin Steel. Nisshin continues to hold approximately 15% of Acerinox as of April 2010. As for 2008, the company was the world's largest producer of stainless steel.

Acerinox has production plants in Spain (Campo de Gibraltar, Ponferrada and Igualada).

Acerinox to supply the stainless steel that will clad the new Real Madrid stadium (6 Nov 2020)

The Spanish factory, Acerinox Europa, will be responsible for manufacturing the material.

Real Madrid has selected Acerinox’s stainless steel to clad both the façade and the roof of the new Santiago Bernabéu Stadium.

Spain's Acerinox expects further profit rise in Q2 on higher steel demand (11 May 2021)

And while the players wheel and deal, remember who really destroys the earth – the common (culpable) man or industry?

In 1998, the Acerinox factory in Los Barrios, Cadiz melted a capsule of cesium-137 that was in a consignment of scrap metal.The radioactive substance was released into the atmosphere and spread over Europe — nuclear authorities in France, Germany, Italy, and Switzerland detected up to 2,400 microbecquerels of ionising radiation in the air, 1,000 times higher than the norm.

Acerinox in Los Barrios

Acerinox & Técnicas Reunidas to Decarbonize Plant in Cádiz

Acerinox and Técnicas Reunidas have reached an agreement to work together in the study of the decarbonization process of the Acerinox Europa facilities, the plant that the former owns in Los Barrios in Cádiz, a comprehensive stainless steel production plant with more than 1,800 employees and a production capacity of more than one million tonnes per year. The project will identify the decarbonization technologies that are most suitable for each industrial sub-process, with special attention to electrification from renewable energies, green or blue hydrogen, bioenergies, or carbon capture and storage. The technologies finally selected will make complying with the operational requirements of the facilities compatible with the decarbonisation objectives, thus anticipating the new regulatory requirements on the matter that the European Union has just announced.

More at link.