26 1 月, 2023

Nippon Steel, Mitsubishi Corporation and ExxonMobil to Evaluate and Establish CCS Value Chains in the Asia Pacific Region

TOKYO, Jan 26, 2023 - (JCN Newswire via SEAPRWire.com) - Nippon Steel Corporation, Mitsubishi Corporation and ExxonMobil Asia Pacific Pte. Ltd. have signed a Memorandum of Understanding to jointly study carbon capture and storage (CCS) and the establishment of potential CCS value chains in the Asia Pacific regions on January 25, 2023. Based on the Memorandum, the three companies will conduct research on the capture of CO2 emissions from Nippon Steel's domestic steelworks and evaluate the necessary infrastructure development required, with a view to establishing CCS value chains in the Asia-Pacific region. It would also include a detailed evaluation of Asia Pacific storage opportunities, including in Malaysia, Indonesia and Australia. Mitsubishi Corporation plans to evaluate the overseas CO2 transportation and the development of CCS value chain. This is the first study to develop value chains for carbon capture in Japan with the aim to store elsewhere overseas in the region. Nippon Steel set forth the "Nippon Steel Carbon Neutral Vision 2050" in its medium- to long-term management plan announced in March 2021 and positioned CCS as one of the key technologies to realize this vision. Through this study, Nippon Steel will progress the implementation of CCS including securing storage sites for overseas storage of CO2 generated from steel works, developing storage infrastructure, advocating for policies and regulation, and examining its cost adequacy. Mitsubishi Corporation has identified Energy Transformation (EX) as a key initiative in its Roadmap for a Carbon Neutral Society formulated in October 2021 and its Medium-Term Management Strategy 2024 released in May last year. Mitsubishi Corporation will evaluate the overseas CO2 transportation and the development of CCS value chain through this joint effort. ExxonMobil continues to advance innovative solutions for a lower-carbon future. In early 2021, it established a Low Carbon Solutions business, which is working to bring lower-emission technologies to market, making them accessible to hard-to-decarbonize industries. It is committed to accelerating significant emission reductions through strategic collaborations and through leading the development and the deployment of scalable lower-emission technologies, such as CCS, needed to advance solutions for various industries in the Asia Pacific region and beyond. Mitsubishi Corporation will continue to lead EX through the low-carbon and decarbonization of our business through CCS and other initiatives, while contributing to the transition and realization of a carbon-neutral society through the stable supply of cleaner energy. About Nippon Steel CorporationNippon Steel Corporation is Japan's largest and one of the world's leading integrated steel producers with a wide range of value-added steel products in more than 15 countries. Nippon Steel has four business segments: steelmaking and steel fabrication, engineering and construction, chemicals and materials, and system solutions. With the aim of continually growing to become "the best steelmaker with world-leading capabilities" from the present and into the future, Nippon Steel will pursue world-leading technologies and manufacturing capabilities, and contribute to society by providing excellent products and services. For more information about Nippon Steel please visit: www.nipponsteel.com/ About Mitsubishi CorporationMitsubishi Corporation works with its roughly 1,700 subsidiaries, affiliates and group companies to develop businesses in approximately 90 countries around the world. Spanning multiple industries and regions, these businesses are overseen by Mitsubishi Corporation's Industry DX Group and 10 Business Groups: Natural Gas, Industrial Materials, Petroleum & Chemicals, Mineral Resources, Industrial Infrastructure, Automotive & Mobility, Food Industry, Consumer Industry, Power Solution, and Urban Development. Through joint digital (DX) and energy (EX) transformations invested in sustainability, decarbonization and digitalization, the company is now focused on leveraging its operations to address myriad challenges that stand to impact our planet's future. About ExxonMobilExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society's evolving needs. The corporation's primary businesses - Upstream, Product Solutions and Low Carbon Solutions - provide products that enable modern life, including energy, chemicals, lubricants, and lower-emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants and chemical companies in the world.The Singapore affiliate, ExxonMobil Asia Pacific Pte. Ltd., has manufacturing facilities which include an integrated world-scale refining and petrochemical complex in Jurong and Jurong Island. Our operations and businesses serve customers and commercial markets in the region with ground transportation, industrial, aviation and marine fuels, lubricants, petrochemicals and liquefied natural gas. To learn more, visit exxonmobil.com and the Energy Factor. Follow us on Twitter and LinkedIn. For further information, contact:Nippon Steel Corporation, Public Relations Center Tel: 03-6867-2977Mitsubishi Corporation, Press Relations Team, Corporate Communications Dept. Tel: 03-3210-2171 Fax: 03-5252-7705ExxonMobil Asia Pacific Pte. Ltd: +65 6885 2389 Copyright 2023 JCN Newswire. All rights reserved. (via SEAPRWire)

28 10 月, 2022

Carbon Capture in the Steel Industry: ArcelorMittal, Mitsubishi Heavy Industries Engineering, BHP and Mitsubishi Development Sign Collaboration Agreement

TOKYO, Oct 28, 2022 - (JCN Newswire via SEAPRWire.com) - ArcelorMittal, the world's leading global steel and mining company, Mitsubishi Heavy Industries Engineering (MHIENG), a pioneer in carbon capture technology, leading global resources company, BHP, along with Mitsubishi Development Pty Ltd are collaborating on a multi-year trial of MHIENG's carbon capture technology with ArcelorMittal, following the signing of a funding agreement between the parties. The companies will also conduct a feasibility and design study to support progress to full scale deployment.ArcelorMittal's steel plantThe agreement, which involves a trial at ArcelorMittal's steel plant in Gent, Belgium and another site in North America, brings together the expertise of the various partners in identifying ways to enhance carbon capture and utilization and/or storage (CCUS) technologies in the hard-to-abate steelmaking industry. The industry is estimated to account for around 7-9% of global greenhouse gas (GHG) emissions. CCUS has the potential to be a key technology for reducing emissions from existing global blast furnaces, which are anticipated to remain a significant portion of steel production over coming decades. The IEA estimates CCUS technology needs to apply to more than 53% of primary steel production by 2050, equivalent to 700 Mtpa of CO2, for the Net Zero Emissions scenario.There are no full scale operational CCUS facilities in blast furnace steelmaking operations at present, with only a limited number of small capacity carbon capture or utilization pilots underway or in the planning phases globally. However, later this year ArcelorMittal Gent will commission its Steelanol project, a scale demonstration plant that will capture carbon-rich process gases from the blast furnace and convert them into ethanol.To further understand how carbon capture technology can be incorporated into existing steel plants, ArcelorMittal is facilitating the trial at its 5 million-tonnes-a-year steel plant in Gent, Belgium, and at another location in North America, with MHIENG supplying its proprietary technology and supporting the engineering studies. BHP and Mitsubishi Development, as key suppliers of high-quality steelmaking raw materials to ArcelorMittal's European operations, will fund the trial that is anticipated to run for multiple years. In Gent, the trial will have two phases. The first phase involves separating and capturing the CO2 top gas from the blast furnace at a rate of around 300kg of CO2 a day - a technical challenge due to the differing levels of contaminants in the top gas. The second phase involves testing the separating and capture of CO2 from the offgases in the hot strip mill reheating furnace, which burns a mixture of industrial gases including coke gas, blast furnace gases and natural gas.The parties plan to install the mobile test unit in one of ArcelorMittal's North American Direct Reduced Iron (DRI) plants, to test MHIENG's technology in this steelmaking route.ArcelorMittal Belgium's Chief Executive Officer, Manfred Van Vlierberghe, said: "The decarbonization of the steel industry is a huge challenge that we cannot solve alone: it is through pan-industry partnerships and collaboration that we will achieve ArcelorMittal's climate goals of reducing CO2 emissions by 35% by 2030 in Europe, and by 30% by 2030 worldwide. Alongside our continued energy efficiency improvements, we are developing two routes to decarbonize steelmaking: Smart Carbon and Innovative-DRI. Both routes will contribute in our journey to deliver carbon-neutral steelmaking. The Smart Carbon route also allows us to integrate carbon capture and re-use (CCU) or storage (CCS) technologies, capturing carbon emitted during the steelmaking process. We are therefore proud to be working with BHP, Mitsubishi Development and Mitsubishi Heavy Industries Engineering on this pioneering Carbon Capturing pilot project, in ArcelorMittal Gent."Carbon capture activities are the largest cost component of the CCUS value chain and represent roughly two-thirds of the total capital cost and are the greatest consumer of additional energy. Improved understanding of carbon capture technology performance, cost, risk and sustainability outcomes are essential to determine its role in efforts to decarbonize the steel industry.This latest collaboration marks a critical milestone in BHP's strategy to support decarbonization efforts in steelmaking, which aims to achieve coverage of geographically diverse customer markets and potential technology pathways and follows partnerships in recent years with other global majors POSCO, China Baowu, JFE Steel, HBIS Group and TATA Steel. Collectively with ArcelorMittal, these companies account for more than 17% of reported global steel production.BHP's Chief Commercial Officer, Vandita Pant, said: "There is currently no certain or single pathway to net zero for steelmaking. CCUS is one of the key abatement technologies with potential to support development of some of those pathways, so working with industry leaders like ArcelorMittal, Mitsubishi Development and MHIENG, we hope to arrive at scalable solutions more quickly to help reduce carbon emissions in steelmaking.""Steel is a critical product for the world to develop and decarbonize, and we must work hard, together, to enable lower GHG emissions steel, support the reduction of carbon intensity in the blast furnace and test new technologies for steel production," she added.Mitsubishi Development's Managing Director and Chief Executive Officer, Sadahiko Haneji said the company will continue to fulfil its responsibility as an active player in relevant industries to contribute toward achieving a carbon neutral society."Mitsubishi Development recognizes that as an industry we have to collaborate to establish carbon capture trials that can be used as a steppingstone to progress technological advancement and build the industry's confidence to reduce carbon emissions," said Mr. Haneji."By participating in these trials, we are demonstrating a commitment to growing climate technologies and reducing our carbon footprint in ways that will not compromise our quality of life," he added.MHIENG has been developing its proprietary KM CDR Process for CO2 capture in collaboration with Kansai Electric Power since 1990 and, as of October 2022, it has delivered 14 plants globally and two more are currently under construction.MHIENG's President and Chief Executive Officer, Kenji Terasawa, said: "The steel sector, as a major emitter of CO2, is still a new frontier for CCUS. Deploying our proven technology quickly and at scale could contribute to curbing emissions in the near term, while new technologies for low-carbon steelmaking are brought to market and scaled up. We, as an innovative solutions provider, are excited to work with ArcelorMittal, BHP and Mitsubishi Development to accelerate the industry's efforts to reach net zero by 2050."About ArcelorMittalArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and primary steelmaking facilities in 16 countries. In 2021, ArcelorMittal had revenues of $76.6 billion and crude steel production of 69.1 million metric tonnes, while iron ore production reached 50.9 million metric tonnes. Our purpose is to produce ever smarter steels that have a positive benefit for people and planet. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for electric vehicles and renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change. This is what we believe it takes to be the steel company of the future. ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).About BHPBHP is a leading global resources company with approximately 80,000 employees and contractors, primarily in Australia and the Americas. BHP's products are sold worldwide, and it is among the world's top producers of major commodities, including iron ore, copper, nickel, and metallurgical coal.Read more about our approach to climate change: www.bhp.com/climateAbout Mitsubishi DevelopmentMitsubishi Development Pty Ltd has contributed to global industries for more than 50 years through its developments in the mineral resources sector and is a wholly owned subsidiary of Mitsubishi Corporation, one of Japan's premier general trading and investment organizations with more than 80,000 employees globally.About MHI GroupMitsubishi Heavy Industries (MHI) Group is one of the world's leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)

17 5 月, 2022

Kobe Steel to launch “Kobenable Steel”, Japan’s first low CO2 blast furnace steel

TOKYO, May 17, 2022 - (ACN Newswire via SEAPRWire.com) - Kobe Steel (KOBELCO) announces today that it will launch "Kobenable Steel" and become Japan's first* provider of low CO2 blast furnace steel products with significantly reduced CO2 emissions during the blast furnace ironmaking process. The Company plans to start selling the new products this fiscal year. Kobenable Steel is based on the KOBELCO Group's CO2 Reduction Solution for Blast Furnace Ironmaking(1) announced on February 16, 2021. It utilizes a technology that can significantly reduce CO2 emissions from the blast furnace, which was demonstrated at the Company's Kakogawa Works by charging the blast furnace with a large amount of HBI(2), produced by the MIDREX(R) Process(3) in the engineering business.Kobe Steel plans to launch Kobenable Steel in two product categories:- Kobenable Premier - 100% reduction rate of CO2 emissions per ton(4)- Kobenable Half - 50% reduction rate of CO2 emissions per ton(4) Kobenable Steel is available for all types of the Company's steel products (steel sheet, steel plate, wire rod & bar products) manufactured at Kakogawa Works and the Kobe Wire Rod & Bar Plant.Kobenable Steel maintains the same level of high quality as conventional products. Customers can continue to use blast furnace steel products that require high quality, such as special steel wire rods and ultra-high-tensile strength steel, which are the Company's strengths.For commercialization, reduction rates of CO2 emissions are calculated using the mass balance methodology(5) in which CO2 reduction effects are allocated to specific steel products, in accordance with ISO 20915. The calculation method and results are certified by the DNV Business Assurance services UK Ltd., a third-party certification body in the UK. At the time of the sale of the products, Kobe Steel will provide the customer with a third-party certificate issued by DNV and a low-CO2 steel product certificate issued by the Company(6).Kobe Steel will contribute to the realization of a green society by providing Kobenable Steel low CO2 blast furnace steel as a pioneer in the steel industry.The Kobe Steel Group (KOBELCO Group) will continue to provide solutions to the needs of society, by making the best use of the talents of its employees and technologies, in order to realize a world in which people, now and in the future, can fulfill their hopes and dreams while enjoying safe, secure and prosperous lives.*According to the Company's survey as of May 17, 2022.(1) Press release announced on February 16, 2021Kobelco Group's CO2 Reduction Solution for Blast Furnace Ironmakinghttps://www.kobelco.co.jp/english/releases/1207624_15581.html (2) Hot briquetted iron (HBI) is direct reduced iron (DRI) in a briquetted form. Since hot DRI is not suitable for long-distance transportation, it is pressed into a compact solid (briquette) upon being discharged from the reduction furnace(3) The MIDREX(R) Process is the leading direct reduced iron (DRI) making process, which produces approximately 80% of the world's direct reduced iron with natural gas (approximately 60% of the world's direct reduced iron at large). The MIDREX Process uses natural gas as the reductant and pellets made of iron ore as the source of iron to make DRI through the reduction process in the shaft furnace. In comparison to the blast furnace method, the MIDREX Process can reduce CO2 emissions by 20 to 40%.(4) Compared with the fiscal 2018 levels(5) The mass balance methodology is a method to allocate specific characteristics to a certain portion of products according to the input amount of raw materials with the characteristics when there is a mix of raw materials with and with no such characteristics (e.g., low CO2) in the manufacturing process. This approach has been used for products such as recycled plastics, bioplastics, electricity generated from renewable energy sources, and certified food products like cocoa and palm oil, for which separation of product properties are difficult due to the characteristics of the manufacturing process or the supply chain. In the ironmaking process, it becomes possible to reduce the amount of coke used and thereby reduce CO2 emissions by replacing a portion of iron ore with HBI, a raw material for steel that has already been reduced. Kobe steel employs the mass balance methodology to allocate the reduction effects to specific products and add environmental value to them. (6) The upper limit on sales volume is set by the certification body. Please ask us about the details of sales quantity.www.kobelco.co.jp/english/ Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

25 3 月, 2022

GONGGANTECH of Korea, introduces Earthquake-Resistant Ceiling lightweight Steel Frame that Will Change the Paradigm of Construction

Seoul, Korea, March 25, 2022 – (SEAPRWire) – GONGGANTECH is proud to announce the release of their newest model of earchquake-resistant ceiling lightweight steel frame, which will change the paradigm of construction. Established in 2002 as a construction company, GONGGANTECH Korea, develops construction safety technology and products based on 20-year know-how and experience in the construction industry. In particular, the level of GONGGANTECH’s technology for earthquake-resistant safety products is outstanding. Its product was awarded the presidential citation in 2018, selected as an excellent invention by Korean Intellectual Property Office in 2019, ranked in the top 10 excellent patents for industrialization in 2021, and certified as a promising small and medium-sized enterprise by the local government community. Attracting attention, the ‘Earthquake-Resistant Ceiling lightweight Steel Frame’ surpasses the limit of existing lightweight products, which have been used for the past 40 years and presents a new paradigm of lightweight steel structure. Existing products have been used even before the various equipment such as electricity, firefighting, communication, air conditioning, heating, and interior were installed in the ceiling. But those products did not consider the weight of equipment mentioned above and workers’ weight for maintenance work, exceeding the load capacity, which can cause safety accidents. Also, their earthquake-resistant performance is inadequate, possibly causing damages due to the fall of ceiling structure and equipment when an earthquake occurs. ‘YES Hanger,’ which is the key element to ‘Earthquake-Resistant Ceiling lightweight Steel Frame’ features a one-touch installment that completely prevents loosening of the nuts on upper and lower parts of the hanger. In addition, it blocks the moving of angle bars and carrying bars on the upper area to prevent changes in structure and sagging ceiling due to earthquakes and various vibrations in daily life. It was tested and proved for earthquake resistance in the international standard earthquake resistance test site in Korea’s Center for Seismic Safety. And it was confirmed that the structure remains safe even in 1.3g and seismic intensity 10. In addition, the product structure evenly distributes the weight to remain strong against vertical load and stably supports equipment and the weight of workers in the ceiling, preventing accidents like ceiling collapse. Its maintenance is also convenient. The integrated structure of Yes Hanger increases safety against earthquake and load without the need for combining pins. The simplified process of assembling the parts increases convenience. Using M bar, T bar, and clip bars, it is applicable to various shapes of ceiling and construction environment. Furthermore, ISO9001 quality management certification proves that it is a versatile product that never fails in quality management. ‘Earthquake resistant OK pipe hanger’ that was launched with ‘Earthquake-Resistant Ceiling lightweight Steel Frame’ is the world’s first hanger with anti-loose nuts adjustable to different heights. It has a high level of convenience and safety structure for installation to be selected as an excellent product in the 19th Korea Safety Awards. With their safety, workability, and convenience for maintenance, these two products from GONGGANTECH Korea are differentiated from other existing products with its innovation. GONGGANTECH Korea aims to set a new standard for advanced construction safety and welcomes overseas partners for exportation. Media Contact Brand: GONGGANTECH Contact: Jeong Minsi Email: main@GONGGANTECH.com Phone: +82-33-641-8914 Website: http://www.GONGGANTECH.com SOURCE: GONGGANTECH The article is provided by a third-party content provider. SEAPRWIRE makes no warranties or representations in connection therewith. Any questions, please contact cs@SEAPRWIRE.com Sectors: Top Story, Daily News SEAPRWIRE (www.seaprwire.com) offers newswire service in Southeast Asia (Indonesia, Thailand, Vietnam, Singapore, Malaysia, Philippines & Hong Kong )

16 11 月, 2021

Shougang Century Proposes Change of Company Name to Shougang Century Holdings Limited

HONG KONG, Nov 16, 2021 - (ACN Newswire via SEAPRWire.com) - Shougang Concord Century Holdings Limited ("Shougang Century", together with its subsidiaries, "the Group"; stock code: 0103.HK) is pleased to announce the proposed change of the Company's English name from "Shougang Concord Century Holdings Limited" to "Shougang Century Holdings Limited", to better reflect the Group's future business development direction.The proposed change of company name is subject to shareholders' approval of the special resolution for the proposed change of company name at a general meeting of the Group, and the approval to be granted by the Registrar of Companies in Hong Kong. The management believes that the proposed change of company name will reinvigorate the Group's corporate image and identity, allow it to truly present the Group's current direction in terms of both strategy and business development, and benefit the Group's future development, thereby act in the best interest of the Group and its shareholders as a whole.Shougang Century is primarily engaged in manufacturing of steel cords for radial tyres, sawing wires and other wire products. Currently, the Group's two large-scale production bases in Zhejiang Province and Shandong Province have qualified as High and New Technology Enterprises in the PRC and together produce over 200,000 tonnes of steel cords in total annually. Riding on its factory expansion plan, the Group continues to make great strides towards its goal to become an enterprise commanding an annual manufacturing capacity in excess of 300,000 tonnes of high-quality steel cords.Mr. SU Fanrong, Chairman and Managing Director of Shougang Century said "With years of continuous technological advancement, there is a growing consumer demand for high-tech products, opening up new horizons for the high-tech manufacturing market. To cater for the fast-growing high-tech manufacturing market, we will actively explore new opportunities in the high-tech manufacturing field and draw on our vast experience in the existing businesses and competitive edges, so as to enhance our production capacity and product quality through high technology, with the aim to establish an influential "Eastern" brand and emerge as one of the top three manufacturers of steel cord industry in China."The Group maintains a healthy financial position. As at 30 June 2021, the net asset value of the Group was HK$1,719,423,000 with a low gearing ratio of 28.7%. The Group's bank balances and cash (including pledged bank deposits) amounted to HK$230,781,000, while the sufficient cash flow enables the Group to actively identify suitable investment targets in the high-tech manufacturing industry.Mr. SU Fanrong added, "The new company name will mark a new milestone for the Group. Looking forward, we will devote more resources in developing our high-tech manufacturing business and provide more premium quality products and services to our customers, in hopes of expanding our market share in the high-tech manufacturing field, as well as creating long-term and stable returns for our shareholders and investors through adopting multi-pronged approach."About Shougang Concord Century Holdings LimitedThe Group is primarily engaged in manufacturing of steel cords for radial tyres, sawing wires and hose wires. The Group possesses two large production bases in Zhejiang Province and Shandong Province, together producing more than 200,000 tonnes of steel cords in total annually. Having been delivering products of a consistently premium quality over the years, the Group supplies products to over 20 countries worldwide and has won wide recognition from international tyres manufacturers. The Group was listed on The Stock Exchange of Hong Kong since April 1992, with Shougang Group Co., Ltd. (a state-owned enterprise under the direct supervision of the Beijing State-owned Assets Supervision and Administration Commission), a profound Fortune 500 company, being its substantial shareholder. Through its longstanding dedication to purveying premium quality steel cords and wire products, the Group aims to become one of the top three independent manufacturers of steel cord industry in China.For more information, please visit: http://www.shougangcentury.com.hk Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

28 10 月, 2021

Leon Fuat Berhad Powers Up for Green Energy

SHAH ALAM, Malaysia, Oct 28, 2021 - (ACN Newswire via SEAPRWire.com) - Leon Fuat Berhad ("Leon Fuat"or the "Group"), primarily in the business of trading, processing and/or manufacturing (collectively referred to as "processing") of steel products, specialising in rolled long and flat products, is pleased to announce that the Group is making its move towards having sustainable energy powering production operations through an investment in solar panels.Mr, Ooi Seng Khong, Group Managing Director of Leon FuatA total of RM5.26 million is being invested for solar panels as part of the Group's sustainability initiatives and these panels will be gradually installed in stages depending on the readiness of project sites.Group Managing Director of Leon Fuat, Mr. Ooi Seng Khong said, "We see this move as a good investment for the environment in the long run to reducing CO2 emissions as we are using renewable solar energy and it will also lower the cost of energy consumption. This initiative will help us in our energy management initiatives and solar power is environmentally sustainable as well as effective.""We have been monitoring both electricity and fuel consumption as part of our sustainability initiatives since the financial year ended 31 December 2017 and are cognisant of the need to source for more sustainable sources of energy for our steel processing operations. The installation of solar photovoltaic (PV) panels will have a capacity of 2.1 million kWh per year, and we expect to save an estimate of 30% savings in electricity consumption per year when the solar panels are fully completed."For disclosure purposes, three of the Group's subsidiaries involved in steel processing consumed a total of 4.9 million kWh of electricity in 2020, which is a 37.1% increase from 2019."We will continue to build organisational capacity to adapt to a sustainable future while focusing on the strategy to improve productivity through sustainable practices and bring value to our stakeholders," Ooi said. Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

2 9 月, 2021

Shougang Century Announces 2021 Interim Results

HONG KONG, Sep 2, 2021 - (ACN Newswire via SEAPRWire.com) - Shougang Concord Century Holdings Limited ("Shougang Century", together with its subsidiaries, "the Group"; stock code: 0103.HK) is pleased to announce its unaudited interim results for the six months ended 30 June 2021 ("the Reporting Period").During the Reporting Period, the Group recorded a revenue from continuing operations of approximately HK$1,283,336,000 (2020: HK$862,997,000), representing an increase of approximately 48.7% as compared with the last corresponding period, primarily attributable to the material increase in sales volume of steel cords. Gross profit from continuing operations increased by 48.5% over the same period last year to HK$226,886,000 (2020: HK$152,758,000). The Group's net profit during the Reporting Period also increased by 45.7% from same period last year to HK$52,256,000 (2020: HK$35,863,000). Net asset value of the Group was HK$1,719,423,000 at 30 June 2021, increased by 4.5% as compared to HK$1,645,571,000 at 31 December 2020. The increase in net asset value was mainly due to the net profit during the first half of 2021. Net asset value per Share was HK$0.91 at 30 June 2021, also increased by HK$0.04 as compared to HK$0.87 at 31 December 2020. During the Reporting Period, the Group also generated positive cash inflow from operations and maintained a sustained healthy financial position.Mr. SU Fanrong, Chairman and Managing Director of Shougang Century said, "In the first half of 2021, with the pandemic outbreak generally being controlled in China, industries are gradually recovering. The PRC's gross domestic product in the second quarter of 2021 has increased by 7.9% as compared with the corresponding period last year, achieving an overall stable development. In addition, tyres witnessed a rigid demand amidst the general trend of recovery and growth in industries including transportation, significantly fueling sales of steel cords. Our results therefore showed a remarkable improvement during the Reporting Period."The steel cord segment sold 105,947 tonnes of steel cords during the Reporting Period, increased by 27.0% as compared to the same period last year (2020: 83,405 tonnes). In respect of the sales of sawing wire products, attributable to the Group's persistent effort in exploring new customers as well as the improvement of the photovoltaic, sapphire, and magnetic material markets, sales volume increased substantially by 76.2% to 252 tonnes (2020: 143 tonnes). There was also a 3.4% increase over the corresponding period last year in sales volume of the Group's other steel wires to 4,560 tonnes (2020: 4,410 tonnes).Located in Zhejiang Province and Shandong Province, the Group's two large production bases produce more than 200,000 tonnes of steel cords in total every year. To cope with the increasing demand for tyres in China and abroad, which fuels a robust market demand for steel cords, the Group expanded its production capacity through further optimizing its plant construction. In 2019, the Group kicked off an expansion plan in its Tengzhou factory and invested in new brass wire production facilities to add an additional 100,000 tonnes of steel cord production capacity. As the construction progress is satisfactory, the Group is building towards its goal to become an enterprise commanding an annual manufacturing capacity in excess of 300,000 tonnes of high-quality steel cords.Mr. SU concluded, "Looking forward to the second half of 2021, the threat posed by the new virus variants and Sino-American relations remains uncertain. However, leveraging our exploration and experience in the steel cord industry over the years, we are confident in seizing the opportunities brought by the 14th Five Year Plan and are well poised to meet the increasing market demand for steel cords for domestic radial tyres. We will continue to make a dedicated exploration in other businesses in order to create greater synergy, whilst adopting a multi-pronged approach to improve our core competitiveness, in hope of achieve higher returns for our shareholders and investors."About Shougang Concord Century Holdings LimitedThe Group is primarily engaged in manufacturing of steel cords for radial tyres, sawing wires and hose wires. The Group possesses two large production bases in Zhejiang Province and Shandong Province, together producing more than 200,000 tonnes of steel cords in total annually. Having been delivering products of a consistently premium quality over the years, the Group supplies products to over 20 countries worldwide and has won wide recognition from international tyres manufacturers. Listed on The Stock Exchange of Hong Kong since April 1992, the Group has a strong shareholder base with substantial shareholders including Shougang Group Co., Ltd. (a state-owned enterprise under the direct supervision of the Beijing State-owned Assets Supervision and Administration Commission), a Fortune 500 company, and its controlled corporations, Bekaert Group and Li Ka Shing Foundation Limited. Through its longstanding dedication to purveying premium quality steel cords and wire products, the Group aims to become one of the top three independent manufacturers of steel cord industry in China.For more information, please visit: http://www.shougangcentury.com.hk Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

25 8 月, 2021

Hydrogen-based ironmaking: MHI Australia and Primetals Technologies join Heavy Industry Low-Carbon Transition Cooperative Research Centre

Sydney/London, Aug 25, 2021 - (JCN Newswire via SEAPRWire.com) - Mitsubishi Heavy Industries (MHI) Australia and Primetals Technologies, a member of Mitsubishi Heavy Industries (MHI) Group, have joined Australia's Heavy Industry Low-Carbon Transition Cooperative Research Centre (HILT CRC) as key partners. The Centre, a not-for-profit entity with significant government funding, aims to develop technologies to decarbonize Australia's heavy industrial sector, leverage the country's natural endowments in mineral and clean energy resources and seize the opportunity of growing export markets for certified low-carbon products. Over the next 10 years, Primetals Technologies and MHI Australia will be contributing financially as well as with their decades-long experience in iron and steel production to this effort. The companies will focus on research and development of hydrogen-based direct reduction of iron ore. This includes the novel HYFOR (hydrogen-based fine-ore reduction) technology currently being piloted by Primetals Technologies in Europe.Photo of the HYFOR direct reduction pilot plant for iron ore fines developed by Primetals Technologies and located at the voestalpine site in Donawitz, Austria. By joining the Heavy Industry Low-Carbon Transition Cooperative Research Centre, MHI Australia and Primetals Technologies will help Australia's iron and steel sector to decarbonize.Australia has the world's largest iron ore deposits and is the leading exporter of iron ore. Since the iron and steel sector is responsible for 7-10% of greenhouse gas emissions globally, Australia has a key role to play in the decarbonization of the industry--an effort which needs to be accelerated. Switching from traditional coal and coke-based ironmaking processes to hydrogen-based production methods is the only way for the industry to fully decarbonize. Deploying these technologies at scale in Australia could move producers up the value chain and turn the country into a major exporter of low-carbon, direct-reduced iron. This would help Australia meet its obligations under the Paris Agreement and make it easier for the global iron and steel industry to reach net-zero by 2050.Primetals Technologies brings an extensive portfolio of iron ore beneficiation, pelletizing, sintering and iron ore reduction technologies to the table. It has been involved in the deployment of one third of the global fleet of MIDREX DRI plants -- the now predominant natural gas based direct-reduction technology, which can be operated on 100% hydrogen. Earlier this year, Primetals Technologies commissioned a pilot plant for its novel HYFOR (Hydrogen-based Fine Ore Reduction) technology at a site of Austrian steelmaker voestalpine. The technology builds on the company's extensive experience with the FINMET process, first introduced by Primetals Technologies in Australia (BHP Port Hedland) in the late 1990s. The next step -- building an industrial-scale HYFOR prototype - will be decided by the end of the year.Dr. Alexander Fleischanderl, Technology Officer Upstream and Head of Eco Technologies, Primetals Technologies, said: "Australia has large deposits of iron ore, great potential for green energy, and boasts a dynamic academic and business environment. This puts the country in a unique position in the quest for net-zero by 2050 as a supplier of clean metallics. The HILT-CRC, with its wide range of partners from across the energy, hydrogen, mining, and cement industries, will form a great ecosystem for innovation."Through MHI Group's advanced technologies and strong collaborations with the Australian government and universities, MHI Australia is an active partner in Australia's sustainable development efforts with a focus on energy and decarbonization. MHI is partnering with the Government of New South Wales to propose a comprehensive development plan for the Western Sydney region. MHI is also working with H2U to support the Front-End Engineering and Design (FEED) study for H2U's Eyre Peninsula Gateway project in South Australia, a greenfield development for the production of green hydrogen and ammonia planned to commercially operate from early 2023. It is anticipated that MHI Australia's involvement with the HILT-CRC will expand and evolve over time - further contributing to Australia's industrial development.Shigeru Nakabayashi, Managing Director, MHI Australia, said: "There is an urgent need to decarbonize the industry sector which is currently responsible for a significant portion of carbon emissions. MHI Group's advanced technologies allows us to partner with Australia - a country where iron ore and iron manufacturing are key industries - in efforts to reduce emissions. We are on track to achieving gas turbines fueled by 100% hydrogen and ammonia by 2025, and we look forward to contributing to HILT-CRC's aim to decarbonize Australia's heavy industry sector with our innovative, low-carbon solutions, including Primetals Technologies' HYFOR technology."This partnership will contribute to MHI Group's aim to realize a carbon neutral future - one of the most critical challenges faced today - by helping to establish a robust hydrogen solutions ecosystem in Australia and around the world. Copyright 2021 JCN Newswire. All rights reserved. (via SEAPRWire)

28 5 月, 2021

Leon Fuat Berhad Records Stellar Quarter due to Rising Global Demand, Profit Up 3,297%

SHAH ALAM, Malaysia, May 28, 2021 - (ACN Newswire via SEAPRWire.com) - Leon Fuat Berhad ("Leon Fuat"), a manufacturer and trader of steel products, specialising in rolled long and flat products, today announced that the Group recorded a 3,297.0% rise in profit after tax ("PAT") to RM36.11 million for the quarter ended 31 March 2021 ("1Q 2021") compared to the RM1.06 million registered in the same quarter of the previous financial year.Calvin Ooi Shang How, Executive Director of Leon FuatImproved Revenue and Profit MarginsThe gross profit recorded a 296.0% increase to RM53.34 million for 1Q2021 compared to the RM13.47 million in gross profit for the corresponding quarter of the previous financial year due to the 9.4 percentage points rise in gross profit margin for trading of steel products to 22.2% while gross profit margin for processing and/or manufacturing (collectively referred to as "processing") of steel products increased by 16.4 percentage points to 26.8%.Overall revenue increased by 76.2% to RM211.48 million in 1Q2021 compared to the RM120.04 million in the corresponding quarter of the previous financial year. On a segmental basis, revenue from trading of steel products increased by 87.5% to RM74.29 million for the quarter under review while revenue from processing of steel products increased by 70.7% to RM137.11 million. The trading segment share of revenue contribution stood at 35.1% in the quarter under review while the processing segment's share of revenue contribution stood at 64.8%.Rising Steel Prices Worldwide Due To Global DemandCalvin Ooi Shang How, Executive Director of Leon Fuat said: "We are pleased to be able to achieve such favourable result this quarter. Steel prices have been advancing worldwide since the second half of 2020 on the expectations of an improving global economic outlook. There is a global steel boom underscored by strong demand with prices rising to a multi-year high. Nevertheless, while steel prices show no sign of coming off anytime soon, we are cautious, both for the outlook on prices and the economy as the COVID-19 pandemic shows no sign of abating.""Given the uncertainties surrounding the pandemic, much will continue to depend on how well key economies around the world can recover and the effect this will have on steel demand and prices. Volatile commodity and crude oil prices will continue to have an impact on the ringgit, with these factors affecting the profitability of our steel products given that most of these products are sourced from overseas. We aim to strive for sustainable growth and will continue to monitor steel prices as well as related foreign currencies and will take proactive measures including negotiating forward contracts, prudent inventory management and cost-management to mitigate any negative impact.""We have and will continue to actively address all concerns relating to COVID-19 in regards to our employees and the business operations. This is on top of adhering to all MCO regulations and other standard operating procedures from the National Security Council. The Group has in place emergency response teams ("ERT") in three of its subsidiaries and is considering a group-wide ERT."Leon Fuat recently completed a private placement exercise where funds raised will be invested into business expansion and purchase of new machineries to meet customer's orders. As of today, Leon Fuat's share price closed at RM1.06 with a market capitalisation of RM361.46 million.Please contact below for more information:Hakim JuraimiTel: +60 12-318 5410Email: h.juraimi@swanconsultancy.biz Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

22 3 月, 2021

Shougang Century Announces 2020 Annual Results

HONG KONG, Mar 22, 2021 - (ACN Newswire via SEAPRWire.com) - Shougang Concord Century Holdings Limited ("Shougang Century", together with its subsidiaries, "the Group"; stock code: 0103.HK) is pleased to announce its audited annual results for the year ended 31 December 2020.During the year under review, the pandemic outbreak caused a halt to manufacturing industries in a number of countries, dealing a heavy blow to the global economy. Fortunately, the Chinese government responded to the pandemic quickly after the outbreak with a series of effective and targeted measures, which underpinned the satisfactory progress in work resumption and production acceleration. On the other hand, the rampant pandemic has not been controlled in the overseas and dragged on manufacturing sectors across other countries, resulting in a shortage of tyres and related products. In view of this, the Group decisively seized the market opportunities by exploring new customers, while optimizing its sales mix to flexibly meet customers' requirements. Meanwhile, in order to actively cater for the market demand, the Group adopted a multi-pronged approach to expand production capacity in order to boost both the supply and its core competitiveness.Leveraging the Group's strict and effective cost control, gross profit margin from continuing operations increased from 17.6% in 2019 to 19.3%, whilst gross profit from continuing operations increased by 4.3% to HK$394,322,000. With the reduction of finance costs, the Group's profit before income tax and profit for the year increased by 26.0% and 36.8% to HK$145,911,000 and HK$148,254,000, respectively. The board of directors recommended the payment of a final dividend of HK1.5 cents per share for the year ended 31 December 2020 (2019: HK1 cent per share), the dividend distribution increased by 50%.Located in Zhejiang Province and Shandong Province, the Group's two large production bases produce approximately 200,000 tonnes of steel cords in total every year. To cope with the increasing demand for tyres in China and abroad fuels a robust market demand for steel cords, the Group expanded its production capacity through further optimizing its plant construction. In 2019, the Group kicked off an expansion plan in its Tengzhou factory and invested in new brass wire production facilities to add an additional 100,000 tonnes of steel cord production capacity. Spurred by the solid construction progress, the Group has continued to make great strides towards its goal to become an enterprise commanding an annual manufacturing capacity in excess of 300,000 tonnes of high-quality steel cords.Mr. SU Fanrong, Chairman and Managing Director of Shougang Century said "Looking forward, the growing demand for domestic large vehicles' tyres, coupled with the growing needs for steel cords driven by the Chinese government's 'domestic circulation' policy and energy conservation and emission reduction requirement, will benefit the development of the domestic steel cord industry. As the photovoltaic, sapphire and magnetic material markets gradually improve, the domestic sawing wire market has witnessed a steady growth. We are fully confident with the Group's business, and will continuously strive to achieve our target in becoming one of the top three independent manufacturers of steel cord industry in China." About Shougang Concord Century Holdings LimitedShougang Concord Century Holdings Limited (0103.HK) is primarily engaged in manufacturing of steel cords for radial tyres, sawing wires and other wire products. The Group possesses two large production bases in Zhejiang Province and Shandong Province, together producing approximately 200,000 tonnes of steel cords annually. Having been delivering products of a consistently premium quality over the years, the Group supplies products to over 20 countries worldwide and has won wide recognition from international tyres manufacturers. Listed on The Stock Exchange of Hong Kong since April 1992, the Group has a strong shareholder base with substantial shareholders including Shougang Group Co., Ltd. (a state-owned enterprise under the direct supervision of the Beijing State-owned Assets Supervision and Administration Commission), a Fortune 500 company, and its controlled corporations, Bekaert Group and Li Ka Shing Foundation Limited. Through its longstanding dedication to purveying premium quality steel cords and wire products, the Group aims to become one of the top three independent manufacturers of steel cord industry in China.For more information, please visit: http://www.shougangcentury.com.hk Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

9 2 月, 2021

Shougang Century Announces Positive Profit Alert

HONG KONG, Feb 9, 2021 - (ACN Newswire) - Shougang Concord Century Holdings Limited ("Shougang Century", together with its subsidiaries, "the Group"; stock code: 0103.HK) is pleased to announce that, based on its preliminary assessment of the unaudited consolidated financial statements of the Group for the year ended 31 December 2020, the Group expects a profit after tax of not less than HK$130 million, at least 20% more than that of HK$108 million for the previous year. Such increase was primarily attributable to the improvement of gross profit margin arisen from the decrease in production costs and the reduction in finance costs.Shougang Century is primarily engaged in manufacturing of steel cords for radial tyres, sawing wires and other wire products. The Group's two large production bases, which are located in Zhejiang Province and Shandong Province, produce approximately 200,000 tonnes of steel cords in total every year. In 2019, the Group kicked off an expansion plan in its Tengzhou factory and invested in new brass wire production facilities to add a further 100,000 tonnes of steel cord production capacity. As the construction progress is satisfactory, the Group is building towards its goal to become an enterprise commanding an annual manufacturing capacity in excess of 300,000 tonnes of high-quality steel cords. Mr. SU Fanrong, Chairman and Managing Director of Shougang Century said "With the outbreak of coronavirus disease under control in China, demand for logistics in the nation witnessed a substantial increase, driving demand for large vehicles' tyres. Leveraging the Chinese government's 'domestic circulation' policy, coupled with the intense rigid demand on tyres, the Group's operation is promising as the sales of steel cords is expected to bloom. In addition, the demand for 'green tyres' will grow remarkably, thanks to the Chinese government's efforts in energy conservation and emission reduction. That is anticipated to expedite the market expansion of steel cords for radial tyres and bring an ample room for development to steel cord industry. In 2020, through actively adopting stringent cost reduction measures, we managed to increase the gross profit margin. Furthermore, with the reduction in finance costs, the Group's profit after tax witnessed an outstanding growth. Looking forward, we strive to continuously increase our market share, thus creating long-term returns for our shareholders and investors."About Shougang Concord Century Holdings LimitedShougang Concord Century Holdings Limited (0103.HK) is primarily engaged in manufacturing of steel cords for radial tyres, sawing wires and other wire products. The Group possesses two large production bases in Zhejiang Province and Shandong Province, together producing approximately 200,000 tonnes of steel cords annually. Having been delivering products of a consistently premium quality over the years, the Group supplies products to over 20 countries worldwide and has won wide recognition from international tyres manufacturers. Listed on The Stock Exchange of Hong Kong since April 1992, the Group has a strong shareholder base with substantial shareholders including Shougang Group Co., Ltd. (a state-owned enterprise under the direct supervision of the Beijing State-owned Assets Supervision and Administration Commission), a Fortune 500 company, and its controlled corporations, Bekaert Group and Li Ka Shing Foundation Limited. Through its longstanding dedication to purveying premium quality steel cords and wire products, the Group aims to become one of the top three independent manufacturers of steel cord industry in China.For more information, please visit: http://www.shougangcentury.com.hkMedia Enquiries:Anli Financial Communications LimitedMs. Judith Cheung 852-3956 1646 judith.cheung@anli.com.hkMs. Doris Ho 852-3956 1641 doris.ho@anli.com.hk Copyright 2021 ACN Newswire. All rights reserved. www.acnnewswire.com