According to research conducted by Clear Seas Research (a BNP Media Company), 67% of active business and 63% of planned business throughout the manufacturing industry is still on schedule during the current coronavirus pandemic. The report also found that only 7% of active business and 6% of planned business has been cancelled at this point in time. In addition, 26% of active business and 31% of planned business has been delayed.
Due to the worldwide outbreak of the potentially deadly coronavirus, the Executive Committee of the Board of Directors has decided to cancel the 2020 Annual Meeting of Members scheduled for May 1-3 in Naples, Fla.
As the global impact of COVID-19 continues to evolve, AAM’s leadership team is continuing to closely monitor the situation along with support from AAM’s COVID-19 Task Force. The actions we have taken and will continue to take have the health and safety of AAM associates and our communities as the primary focus. We have communication and business plans in place for every AAM location around the world that are assisting our leadership teams in making swift decisions pertaining to facility operations in accordance with all local, state and national government orders and mandates.
Jingye Group, a Chinese steelmaker, acquired British Steel’s facilities in the U.K. and the Netherlands, a move that will secure approximately 3,200 jobs. Jingye will invest approximately $1.5 billion in the business. Initiatives include: the development of an electric-arc furnace (EAF) in Teesside; the construction of a new 250-MW power plant to serve the Scunthorpe site; investment in the rolling mills to produce high-quality steel products; the construction of a new rebar line; and enhancing the current rail mill.
Allegheny Technologies Inc. (ATI) announced a realignment of its business segments to further enhance its position as a leading specialty materials manufacturer and to accelerate sustainable long-term profitable growth. Starting with first-quarter 2020 financial results, ATI will report in two business segments: a streamlined High Performance Materials & Components (HPMC) segment and the new Advanced Alloys & Solutions (AA&S) segment.
ArcelorMittal is following government and World Health Organization advice and guidelines at all of its global operations in order to protect employees and prevent the spread of infection. Given the extent of the outbreak, the health and safety implications, and particularly the impact it is having on several European countries in which ArcelorMittal operates, the company is taking steps to reduce production from its European operations to ensure the well-being of employees is maintained and that production is aligned with demand.
The United States Centers for Disease Control and Prevention (CDC) and the World Health Organization (WHO) continue to address the novel coronavirus (COVID-19) at national and global levels. AIST is actively monitoring this concern and will continue to follow CDC/WHO guidance, provide updates and adjust strategy if recommended. As such, AIST’s top priority is focused on the health and safety of all participants at AIST events. With that in mind, AISTech 2020, which was scheduled for May 4-7 in Cleveland, has been postponed. The new date has not been determined, but it will be released in the coming days.
Forged Components Inc. (FCI) of Humble, Texas, announced the acquisition of Western of Texas Forge & Flange Co. (WTFF) in the fourth quarter of 2019. WTFF manufactures pipe flanges and forgings to standard and custom sizes to the oil and gas exploration and production, oil refining and processing, petrochemical, chemical, and power-generation industries. Kountze, Texas-based WTFF will continue to operate under its current name.
Wynnchurch Capital acquired Pennsylvania Machine Works (Penn Machine), a fully integrated manufacturer of high-pressure forged fittings and branch connections. Headquartered in Aston, Pa., Penn Machine produces high-quality products in a diverse variety of material grades that are sold into the downstream oil and gas, petrochemical, industrial and shipbuilding end markets. The company is supported by its forging facility in Swedesboro, N.J., and two machine shops in Aston and Houston, Texas.
Chicago-based Larson Forgings, a manufacturer of open-die and rolled-ring forgings, is celebrating its 125th anniversary. The company was founded in 1895 by Charles E. Larson, who began hammering out horseshoes and small tools from his blacksmith shop near the Chicago River. Today, Larson Forgings is a global industry resource.