This morning in metals news, Supply Dynamics took home a national award in the Microelectronics Supply Chain Provenance Challenge, China is investigating steel excess capacity and the Indian Supreme Court has given the green light to ArcelorMittal’s acquisition bid of Essar Steel.
Supply Dynamics Takes Home National Award
Supply Dynamics, along with its U.K. partner Brunel University London, recently took home a national award in the Microelectronics Supply Chain Provenance Challenge, which featured 22 companies and more than 75 applicants.
The challenge, which brought companies to Las Vegas earlier this year to showcase their innovations, was hosted by the Air Force Research Labs (in partnership with AFWERX).
“The winning Supply Dynamics/Brunel solution combined the advanced scanning, X-ray, segmentation, and OCR capabilities of Brunel’s HISTEED and VISION technologies with Supply Dynamics’ web-based, multi-enterprise platform, SDX,” Supply Dynamics said in a release. “SDX is currently used by large manufacturing companies in Aerospace, Automotive, Oil and Gas, and Heavy industry to track, trace, classify, and report common raw materials that flow into their products from thousands of sub-tier suppliers.”
The Challenge solicited applications for “non-destructive methods, techniques, and tools to trace the parts of any COTS assembly (hardware and software) to prove provenance and suitability for use in military applications in a cost-effective manner.”
For more information, visit the Challenge’s website.
China to Probe Steel Capacity
According to a Reuters report, the Chinese government is investigating the country’s steel capacity amid surging output.
Despite capacity cuts in recent years on environmental grounds, China’s steel output has continued to rise. China’s steel production through the first 10 months of the year jumped 7.4% on a year-over-year basis, Reuters reported.
According to the World Steel Association, China’s September production rose 2.2% year over year.
Supreme Court Approves ArcelorMittal’s Essar Resolution Plan
The Indian Supreme Court has approved ArcelorMittal’s resolution plan for the distressed Essar Steel, the former said Monday.
“ArcelorMittal announces that, following receipt and review of the formal written order, ArcelorMittal India Private Limited’s (‘AMIPL’) resolution plan for Essar Steel India Limited (‘ESIL’) has been unconditionally approved by the Indian Supreme Court,” ArcelorMittal said. “Supreme Court approval of AMIPL’s resolution plan is the final procedural step in ESIL’s corporate insolvency process.
“Completion of the transaction is now expected before the end of the year. After completion, ArcelorMittal will jointly own and operate ESIL in partnership with Nippon Steel Corporation (‘Nippon Steel’), Japan’s largest steel producer and the third largest steel producer in the world, in-line with the joint venture formation agreement signed by the two companies.”
Essar Steel is one of a dozen large Indian companies that were thrown into India’s insolvency proceedings in 2017.