German carbon specialist SGL Group said it had completed the carve-out of its graphite electrode business into a self-contained unit, paving the way for a possible exit.
The division known as Performance Products, which makes electrodes for steel recycling and cathodes for the production of aluminium, was initially scheduled to be carved out by the end of 2016 but a continued slump in the global scrap metal recycling industry prompted SGL to ramp up its restructuring efforts.
SGL said in March potential bidders for the graphite electrodes business had received first information packages and that two investment banks had been mandated for a sale. (Reporting by Ludwig Burger and Patricia Weiss; Editing by Maria Sheahan)
During a European Industry Summit held on the site of BASF in Antwerp, leaders from basic industry sectors, representing 7.8 million workers in Europe, joined forces with European trade unions and European leaders to address pressing concerns regarding Europe’s industrial landscape.
The use of blue or low-carbon hydrogen, made from natural gas with carbon capture and storage (CCS), could increase near-term global warming by 50% compared with burning fossil fuels directly for energy if emissions are not properly managed, according to a new study by NGO the US Environmental Defense Fund (EDF) and the University of Arizona.
In a move to improve the supply of renewable hydrogen and thus reduce dependence on natural gas and contribute to achieving the objectives of the European Green Deal and the REPowerEU plan, the EU Commission has approved a third Important project of common European interest (IPCEI) to support hydrogen infrastructure.