DNOW to buy Whitco Supply
Texas-based tubular distributor DNOW has agreed to buy midstream supplier Whitco Supply.
DNOW agreed to purchase Louisiana-based Whitco in an all-cash transaction, the terms of which were not disclosed, DNOW said on Tuesday.
Whitco has eight locations and sells B7 studs, flanges, forged steel, gaskets, pipe, structural steel and weld fittings.
DNOW chief executive David Cherechinsky said the acquisition is part of the company's move to diversify its end-markets.
No timeline was given for the conclusion of the deal. For now, the companies will remain independent and operate separately, DNOW said.
Related news posts
Produção de veículos aumenta em abril
Produção de veículos aumenta em abril
Sao Paulo, 8 May (Argus) — A produção brasileira de veículos subiu 24pc em abril, em um cenário de vendas crescentes no mercado interno. A produção de veículos atingiu 222.115 unidades em abril, em comparação com 178.853 no mesmo mês em 2023, informou a Associação Nacional dos Fabricantes de Veículos Automotores (Anfavea). Em relação a março, a produção cresceu 13pc. No acumulado desde janeiro, houve alta de 6,3pc, para 760.114 unidades. Já as vendas saltaram 37pc em comparação com o mesmo período do ano anterior. O licenciamento de veículos totalizou 220.840 unidades no mês, 17pc maior do que em março. O Brasil exportou cerca de 27.330 unidades em abril, queda de 19pc na base anual e alta de 16pc em relação ao mês anterior. "Temos pela frente alguns pontos de alerta, como a redução do ritmo de queda dos juros e os efeitos da calamidade no Rio Grande do Sul", disse o presidente da Anfavea, Márcio de Lima Leite. Leite acrescentou que as enchentes no estado já estão afetando fábricas de veículos, máquinas agrícolas e componentes usados por toda a cadeia automotiva. As chuvas já deixaram mais de 100 mortos, segundo a Defesa Civil do Rio Grande do Sul. Outras 128 pessoas estão desaparecidas e cerca de 164.000 perderam suas casas. Por Laura Guedes Participação de mercado de veículos leves por combustível % Abr-24 Abr-23 ± (pp) Gasolina 3,6 2,5 1,1 Elétricos 3,2 0,4 2,8 Híbridos 2,3 2,1 0,2 Híbridos Plug-in 1,7 0,7 1 Flex 79,5 83,4 3,9 Diesel 9,6 10,9 -1,3 Anfavea Envie comentários e solicite mais informações em feedback@argusmedia.com Copyright © 2024. Argus Media group . Todos os direitos reservados.
Enchentes afetam operações de empresas no Sul do Brasil
Enchentes afetam operações de empresas no Sul do Brasil
Sao Paulo, 8 May (Argus) — Diversas empresas brasileiras suspenderam operações no Rio Grande do Sul em razão das chuvas intensas que causaram diversos alagamentos e danos à infraestrutura. As enchentes ocasionadas pelo recorde de chuvas geraram pelo menos 83 mortes e 111 pessoas desaparecidas, de acordo com o governo estadual. Mais de 23.000 pessoas foram obrigadas a deixarem suas casas em meio a danos generalizados, incluindo pontes e rodovias inundadas em diversas cidades. A barragem da usina hidrelétrica 14 de Julho, com capacidade de 100MW, no rio das Antas, rompeu na semana passada em meio às fortes chuvas. A Companhia Energética Rio das Antas (Ceran), que opera a usina, implementou um plano de evacuação de emergência em 1 de maio. A produtora de aço Gerdau informou em 6 de maio que suspendeu suas operações em duas unidades no estado até que seja assegurada a "segurança e proteção das pessoas". A empresa não divulgou o volume de produção de aço dessas unidades. A empresa de logística Rumo interrompeu parcialmente suas operações e informou que os "danos aos ativos ainda estão sendo devidamente mensurados". A gigante petroquímica Braskem desligou duas unidades no complexo petroquímico Triunfo, como uma medida de prevenção em decorrência dos "eventos climáticos extremos" no estado, afirmou em 3 de maio. A empresa adicionou que não há expectativa de data para retomar as atividades. A Braskem opera oito unidades industriais no Rio Grande do Sul, que produzem 5 milhões de toneladas (t)/ano de petroquímicos básicos, polietileno e polipropileno, de acordo com seu website. Por Carolina Pulice Envie comentários e solicite mais informações em feedback@argusmedia.com Copyright © 2024. Argus Media group . Todos os direitos reservados.
Arcadium witnesses firm January-March lithium demand
Arcadium witnesses firm January-March lithium demand
Singapore, 8 May (Argus) — US-based Arcadium Lithium said demand was "quite strong" during January-March despite the bearish tone at the start of the year, while acknowledging weaker short-term lithium demand compared with previous forecasts. "Market demand was actually quite strong and certainly not reflective of some of the ‘doomsday' scenarios," said Arcadium chief executive Paul Graves with its first-quarter results, citing still growing electric vehicle (EV) sales globally and in China. Arcadium is the merged entity of Australian lithium firm Allkem and US lithium producer Livent, which completed their merger earlier this year. Global EV sales during January-March were up by around 25pc to over 3mn units, according to the IEA, mainly driven by China. China's new energy vehicle production and sales for the quarter rose by 28pc and 32pc from a year earlier to 2.114mn and 2.089mn units respectively, according to China Association of Automobile Manufacturers data. Expectations for EV sales in China are even higher in the second quarter partly because of "new economic incentives", said Graves, likely referring to China's new automobile trade-in subsidies that has boosted the prices of some battery feedstock metals. Some industry analysts opted to lower their short-term demand forecasts to account for the higher recent sales mix of plug-in hybrid electric vehicles (PHEVs), Graves said, as sales of battery EVs (BEVs) seem to be losing ground. But Graves countered this by stating that lower BEV sales, which he concedes are expected to be lower by on average 20pc globally in 2024 and 2025 compared with forecasts a year ago, will lead to lower lithium demand that will largely be made up by demand from PHEVs and non-automotive such as stationary energy storage. Arcadium predicts only around 5pc lower demand in terms of GWh in 2024 and 2025 compared with previous forecasts, with demand to remain unchanged or even slightly higher in 2026. Output boost Arcadium is still on track to raise its combined lithium carbonate and hydroxide delivered volumes by about 40pc to 50,000-54,000t lithium carbonate equivalent this year, with volume growth weighted towards the second half of the year. It sold during January-March 30,000 dry metric tonnes (dmt) of spodumene concentrate at $827/dmt on a 5.4pc grade basis and 9,300t of lithium hydroxide and carbonate at around $20,500/t. Contrary to the prevailing view that lithium hydroxide is trading at a discount compared with lithium carbonate, Graves said that is "absolutely not the case" in their portfolio but rather it is at a "significant premium to carbonate". The company has fully commissioned the first 10,000 t/yr expansion at its Fenix lithium carbonate facility in Argentina, which is producing at close to full capacity. Its Olaroz stage two expansion in Argentina, with a nameplate capacity of 25,000 t/yr technical-grade lithium carbonate, is producing at lower rates given a longer ramp-up period. Its lithium hydroxide facilities in US North Carolina's Bessemer and China's Zhejiang with a combined 20,000 t/yr of capacity are still undergoing qualification. Arcadium is planning to expand in Argentina and Canada and expects to add 95,000 t/yr of additional nameplate production capacity by the end of 2026, which will span across spodumene, lithium carbonate and lithium hydroxide. By Joseph Ho Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Liberty Merchant Bar to be 'mothballed', sources say
Liberty Merchant Bar to be 'mothballed', sources say
London, 7 May (Argus) — Liberty Steel will announce the mothballing of Liberty Merchant Bar (LMB) in Scunthorpe, England, this week, multiple sources told Argus . LMB has effectively been mothballed for a couple of years, as it stopped producing in 2022 amid cash constraints and problems with energy supply. The mill was powered by gas captured in the coke-making process at British Steel , but that supply has now stopped. Sources suggest the mothballing announcement is really a sign that the plant will not reopen, given it has been off line for so long. Around 135 staff are employed at the site — it is not clear whether they will be redeployed elsewhere in the group. Liberty recently said it has signed a new framework agreement with its major creditors, following the refinancing of its Infrabuild business in Australia, which would enable it to "consolidate its UK steel businesses under a new entity with a simpler structure, a strong balance sheet and greater access to third-party finance and investment". Liberty has been promising to publish consolidated financial results since 2019, but is still yet to do so. Under this consolidation, existing UK companies will transfer their assets and employees to the new entity, the company said. The change has enabled "development of a comprehensive plan that aims to take Liberty's electric arc furnace (EAF) melting capacity" at Rotherham to 2mn t/yr, the company added. The two existing furnaces at the site — N and T — have a capacity of 1.2mn t/yr, but have been running well below this. Only T is running at present, following prepayment from aerospace customers, and it has produced less than 7,000t so far this year. Liberty's eventual plan is to produce feed for longs and engineering bar from furnace N, feed for aerospace customers from furnace T, and to install a new EAF to produce slab for the company's plate and coil mills in Scotland and Wales. The company declined comment. By Colin Richardson Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Business intelligence reports
Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.
Learn more