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CLASS

Danieli grows its business in Vietnam

June 20, 2019


Abstract : Pomina Steel corporation, one of the largest steel producers in Vietnam, has awarded Danieli Automation the supply of a completely new set of electrical and automation equipment for the existing Reheating kiln and the Pomina 2 rolling mill.

MILAN, Jun 18 (Class Editori) -- Pomina Steel corporation, one of the largest steel producers in Vietnam, has awarded Danieli Automation the supply of a completely new set of electrical and automation equipment for the existing Reheating kiln and the Pomina 2 rolling mill. The solutions adopted reduce technical modifications to a minimum, in order to simplify assembly activities.

In addition, Danieli Automation took the opportunity to apply important technological updates to the control and operation system so as to make the state-of-the-art plant to the equipment ready for the possible future implementation of industry 4.0 modules, the company pointed out. The contract value was not indicated.

In Vietnam, Danieli had already supplied a small-sized plant, a 350,000-tons per year micromill, to Vietnam Japan Steel Group, which came into operation in 2016 in the city of Hai Phong.

The multinational led by Gianpietro Benedetti and Giacomo Mareschi Danieli, president and CEO respectively, is consistently implementing the order portfolio and, above all, the activities in the East, The value of its technologies and the negotiation opportunities are make it possible for the company to open up in some economies undergoing a strong development, such as the Vietnam, as well as to restructure in the developed countries.

At the beginning of May the company had communicated two new orders, one from the USA and one from China, and in mid-April it had obtained an order from Turkey. In February Danieli won a contract in Colombia for the Q-Smartec cooling system.

A few days before, Danieli had a new contract for the construction of a plant to manufacture pipes for oil and gas production without welding in Russia. In early February, Danieli also started a partnership with GFG Alliance to design and build a new high-tech plant for rails and section steels at the Whyalla Steelworks plant in Australia.

Mediobanca Securities, which has an outperform rating on the Danieli stock and a target price of 21.3 euros (which at the moment is stable at 16.50 euros in the stock market), considers this new order to be positive. Since the beginning of the year, Danieli has been granted several contracts. The latest is a contract from Çelsantas Çelik in Turkey. Shortly before Danieli had received a contract from Evraz North America - a company producing steel components for the railways and energy sectors - to supply a high-quality 100-meter rail mill.

And still last May, in China, where the production of machines and plants for the Far Eastern market is concentrated, Danieli had announced the start of a new high-efficiency and productivity plant in the city of Chizhou.

With the activation of Danieli's Ecs system technology, the Chizhou plant is in fact able to process the same quantity of raw material with a much lower energy consumption, therefore with reduced production costs, and ensuring a better quality end product.

(Source:Class Editori)

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