Hints and tips:
...Tata Steel is receiving £500mn of state support to help its transition to producing green steel through electric arc furnaces, which are less carbon-intensive and require fewer workers....
...The company already operates an electric arc furnace....
...Arc’teryx apparel brand owner Amer Sports raised less money than hoped in the largest US initial public offering since October, in the latest sign of investor caution amid a tentative reopening in the market...
...Amer Sports, owner of brands including Salomon, Wilson and Arc’teryx, has filed for an initial public offering on the New York Stock Exchange, as the Chinese-owned company looks to raise money to reduce...
...“By restructuring our UK operations, we will be able to sustain the business as we transition to new electric arc furnace technology,” it said....
...Tata has not ruled out the option of building a “direct reduced iron” plant at Port Talbot in the future alongside the electric arc furnace as a way of preserving primary steel production....
...Electric arc furnaces, which melt down scrap steel, are less carbon intensive but also much less labour intensive. Tata said it expected the electric arc furnace to be operational by 2027....
...Tata plans to replace them with one electric arc furnace, which uses a less labour-intensive process to make steel from scrap....
...Unlike blast furnaces, which use coke to produce iron from ore, electric arc furnaces melt down scrap and recycled steel....
...They want Tata to consider closing the blast furnaces only once the electric arc ones are already in place....
...This would involve closing Tata’s last two remaining blast furnaces, which are both at Port Talbot, and replacing them with an electric arc furnace, which is less labour-intensive....
...Companies including outdoor clothing brand Arc’teryx owner Amer Sports, healthcare platform BrightSpring Health Services and casual dining chain Panera have filed for potential listings as expectations rise...
...“There is no possibility of creating an Arc’teryx or Wilson with the branding power of Chinese companies today....
...The company wants to close its two remaining blast furnaces as quickly as possible and build a less carbon-intensive electric arc furnace....
...It intends to replace existing manufacturing processes with an electric arc furnace, which makes steel from scrap and requires a much smaller workforce....
...future is now set to take place against the backdrop of up to 2,800 job cuts planned at Tata Steel’s steelworks in Port Talbot, Wales, as it moves from blast furnaces to less carbon-intensive electric arc...
...Tata warned last year that its UK operations were under threat unless it secured government funding to help it move to less carbon-intensive electric arc furnaces....
...It has been in talks with officials for months about financial support to help it move to less carbon-intensive electric arc furnaces....
...Highlights Amer Sports, the parent company of tennis racket maker Wilson, hiking and skiing equipment company Salomon, and high-end outdoor gear brand Arc’teryx, has filed to list on the New York Stock...
...The 30-minute, 10-person piece has only the vaguest narrative arc — an outsider (Harris Beattie, impressive) attempting to mesh with the group — but it is full of action and interest, responding to Janáček...
...The Financial Times Ltd and the authors are not responsible for any direct or indirect result arising from any reliance placed on replies, including any loss, and exclude liability to the full extent....
...however, have dismissed that sum as too little given the estimated £2bn to £2.5bn capital expenditure needed to move the Port Talbot steelworks in Wales from blast furnaces to less carbon-intensive electric arc...
...The government has been in talks with British Steel and Tata Steel UK for months over a combined £600mn support package to help the companies move to less carbon-intensive electric arc furnaces....
...Tata, the owner of Tata Steel UK, which owns the Port Talbot works in Wales, are in talks with the government over a combined £600mn support package to help them upgrade their blast furnaces to electric arc...
...The government last month offered a combined package of around £600mn to British Steel and Tata Steel UK, which owns Port Talbot in Wales, to upgrade their blast furnaces to electric arc models with lower...
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