CTT-Refractory and glass news

CTT-Refractory and glass news

• Hindusthan National Glass & Industries Ltd. and other existing promoters of HNG Float Glass Ltd. have established an equal joint venture partnership with Trakya Cam Sanayii AS of Turkey to pursue float glass manufacturing in India. The parties have complied with the relevant conditions precedent under the JVA and consummated the joint venture transaction on June 11, 2013.

• South Korea’s antitrust watchdog has fined two major domestic glass manufacturers a combined $34.24 million for colluding on product prices, KCC Corp. and Hanglas, which account for about 80 percent of the country’s flat glass market. The Fair Trade Commission accused the two  of colluding to raise prices of 5-6 mm flat glass products for the construction industry four times from November 2006 to April 2009, according to the report.

Cliffs Natural Resources Inc. has announced that it is temporarily suspending the environmental assessment activities for its chromite project in the “Ring of Fire” region of Northern Ontario due to certain unresolved issues. These include delayed approval of the “terms of reference” for the provincial Environmental Assessment process, unresolved land surface rights issues and unfinished agreements with the Government of Ontario.

• Furnace No. 1 at POSCO’s Gwangyang Steelworks in South Jeolla Province of S. Korea, has been reborn as the largest blast furnace in the world. POSCO expanded the internal capacity of Blast Furnace No. 1 from 3,800 cubic meters to 6,000 cubic meters by mobilizing all different innovative engineering methods through the project.

• The U.S. Commerce Department on Friday announced its preliminary affirmative determination in the anti-dumping duty investigation against imports of silica bricks and shapes from China, signaling that it may pose punitive duties on the products. The petitioner for this investigation is Utah Refractories Corp..

• The exploration of bauxite ore in Zhengdao, Guizhou province, China had been completed. According to the preliminary estate, the inferred bauxite ore has reached 100 million tons, with the total resource in this region achieving 140 million tons.