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SKW Stahl Metallurgie: consortium banks agree with financial investor Speyside on acquisition of loan claims

Friday, 21 Jul 2017 01:56am EDT

July 21 (Reuters) - SKW STAHL METALLURGIE HOLDING AG ::SAID ON THURSDAY BREAKTHROUGH IN EFFORTS FOR FINANCIAL RESTRUCTURING.SAID CONSORTIUM BANKS REACH AN AGREEMENT WITH FINANCIAL INVESTOR SPEYSIDE ON ACQUISITION OF LOAN CLAIMS.THE LENDERS OF SKW STAHL-METALLURGIE HAVE IN PRINCIPLE AGREED WITH SPEYSIDE ON THE TERMS OF ACQUIRING THE COMPLETE.CONSORTIAL LOAN IN THE AMOUNT OF 74 MILLION EUROS FROM THE LENDERS.INVESTOR WITH INDUSTRY EXPERIENCE WILL NEGOTIATE WITH SKW FURTHER TERMS OF FINANCIAL RESTRUCTURING WITH SKW.INVESTOR PROVIDES STRATEGIC PERSPECTIVES ON THE WORLD MARKET.

SKW Stahl-Metallurgie: new prospect for financial restructuring

Thursday, 20 Jul 2017 08:17am EDT

July 20 (Reuters) - SKW STAHL METALLURGIE HOLDING AG ::DGAP-ADHOC: SKW STAHL-METALLURGIE HOLDING AG: NEW PROSPECT FOR FINANCIAL RESTRUCTURING OF SKW METALLURGIE GROUP.‍LENDERS UNDER SYNDICATED LOAN AGREEMENT OF SKW STAHL INTEND TO SELL AND TRANSFER THEIR CREDIT CLAIMS TO PRIVATE EQUITY FIRM SPEYSIDE CAPITAL​.‍INTENDED TO REACH AGREEMENT WITH SPEYSIDE CAPITAL ON KEY POINTS OF CONCEPT FOR FINANCIAL RESTRUCTURING OF SKW IN NEAR FUTURE​.

ArcelorMittal South Africa ‍sees HY headline loss 143-152 c/shr​

Thursday, 20 Jul 2017 06:20am EDT

July 20 (Reuters) - Arcelormittal South Africa Ltd ::‍HY headline loss per share is also expected to 143 and 152 cents per share (218% and 238% change)​.Company is in process of exploring several initiatives, include additional cost cutting interventions.Higher steel prices did not fully compensate for higher raw material costs namely coal and iron ore.Higher loss for six months to june 30 was primarily due to lower margins.Operational incidents; impairments and strengthening of rand against us dollar also negatively impacted results.Arcelormittal south africa- exploring several initiatives, assessing profitability of some product lines, implementation of structural changes in 6 months.

Cleantech says formed special committee to engage in discussions with ECrent Capital

Tuesday, 18 Jul 2017 06:00am EDT

July 18 (Reuters) - Cleantech Solutions International Inc :Cleantech solutions international forms a special committee and retains financial advisor to evaluate and discuss potential transactions.Cleantech solutions international inc - ‍special committee has retained duff & phelps, llc as its financial advisor to assist it in its review​.Cleantech solutions international inc - ‍company's board of directors has formed a special committee​.Cleantech solutions international inc - ‍formed a special committee comprised of three independent directors of company​.Cleantech solutions - ‍board formed special committee to engage in discussions with ecrent capital holdings on potential cooperation between two cos.Cleantech solutions - ‍board formed special committee to engage in discussions with ecrent capital holdings on potential acquisition by co of ecrent​.Cleantech solutions international inc - ‍all three members of special committee are unaffiliated with ecrent and not management members of company​.

Chongqing Iron & Steel says FIPCC accepts reorganisation application

Monday, 17 Jul 2017 06:54pm EDT

July 18 (Reuters) - Chongqing Iron & Steel Co Ltd <601005.SS>::First intermediate people's court of Chongqing issued civil ruling paper to company on 3 July 2017.It is ruled that FIPCC accepts application of Chongqing Laiquyuan Trading Co., Ltd. for reorganisation of Chongqing Iron & Steel.After co commences bankruptcy reorganisation procedure, administrator has initiated reporting, registration & investigation of creditor's rights.Upon review, administrator preliminarily confirmed 103 claims of creditor's rights with a total amount of RMB1.16 billion.

Chengdu Huaze Cobalt & Nickel Material sees FY 2017 H1 net loss to widen

Monday, 17 Jul 2017 02:32am EDT

July 17 (Reuters) - Chengdu Huaze Cobalt & Nickel Material Co Ltd <000693.SZ>:* Says it expected FY 2017 H1 net loss to be 70 million yuan to 80 million yuan versus net loss of 53.3 million yuan year ago .* Comments that decreased main business income and increased expenses as reasons for the forecast .

Fushun Special Steel's share trade to resume on July 17

Friday, 14 Jul 2017 08:29am EDT

July 14 (Reuters) - Fushun Special Steel Co Ltd <600399.SS>:Says controlling shareholder Dongbei Special Steel Group and units' restructuring proposal is still pending approval from creditors and court.Says share trade to resume on July 17.

Kordamentha Restructuring says committee of creditors approve sale of Arrium Group to GFG Alliance​

Wednesday, 12 Jul 2017 10:19pm EDT

July 13 (Reuters) - ‍Kordamentha restructuring :‍Kordamentha restructuring says committee of creditors today approved sale of arrium group to gfg alliance​.

Fushun Special Steel's owner may change after controlling shareholder submits restructuring proposal

Monday, 10 Jul 2017 09:10am EDT

July 10 (Reuters) - Fushun Special Steel Co Ltd <600399.SS>:Says controlling shareholder Dongbei Special Steel Group and units have submitted restructuring proposal to local court on July 10.Says the restructuring may lead to changes in company's controlling shareholder and owner.Says shares trade remains suspended.

Tata Steel commissions its first 3 MW solar power plant at Noamundi

Monday, 10 Jul 2017 04:22am EDT

July 10 (Reuters) - Tata Steel Ltd ::Tata steel commissions its 1st 3 MW solar power plant at Noamundi.

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