Local news
April 2008
News
Siemens Industry Solutions (IS) Division has received an order to equip the cooling section of the hot-strip rolling mill of ArcelorMittal South Africa in Vanderbijlpark with new process and basic automation. The core of the solution is the strip cooling model which was developed by Siemens and can be used to precisely control phase transitions during the cooling of hot-rolled strip steel. This enables reliable and efficient production of modern materials. Delivery, installation and commissioning of the new automation system are scheduled for July 2008.
ABB Powertech Transformers’ shareholders, ABB South Africa and Powertech, have announced the restructuring of their shareholding in the transformer company.
To facilitate the inclusion of an empowerment partner, ABB will sell its 50% stake in ABB Powertech Transformers to Powertech, which in turn, has agreed to sell 25,1% on to black economic empowerment investors. Powertech’s purchase of ABB’s 50% shareholding is subject to the approval of the competition authorities. The purchase consideration to be paid by Powertech totals R320m.
ABB has signed a long term technology agreement with Powertech to support the realignment and to promote transformation. This will allow the transformer company to maintain its leadership position through full access to ABB’s technology for power transformers ranging from 20 MVA to 795 MVA.
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