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).
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.
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.