NEW YORK, October 26, 2016 /PRNewswire/ --
www.Financialbuzz.com - Steel manufacturing has reemerged as a
hot sector. The global steel industry at least for now, is
attracting investors back as China's Baoshan
Iron & Steel Co. has started the earnings season for the
recent quarter with a jump in profit. Steel producers in
Asia, Europe and the U.S. are likely to see similar
results. Petrone Worldwide Inc. (OTC: PFWI), Alcoa Inc. (NYSE: AA),
ArcelorMittal SA (NYSE: MT), AK Steel Holding Corporation (NYSE:
AKS), Gerdau SA (NYSE: GGB).
Steel prices rebounded somewhat this year, largely after
China's government took measures
after infrastructure waste and metal production glut. As steel is
used across a very varied range of industries, the possible revival
of steel manufacturers makes smaller companies in the sector a
potential acquisition target, or a desirable partner for business
expansion.
In recent news, Petrone Worldwide Inc. (OTC: PFWI)
announced that it has expanded its business with Dewan & Sons
by signing a new strategic partnership. Dewan & Sons is a
manufacturer in India focused on
the production of articles of Brassware, Copperware, galvanized
& wrought iron, aluminum ware, stainless steel utensils, EPNS
and EPSS for luxury brands and mass merchandisers in North America and Europe in the houseware, furnishings
marketplace. The company's products ranges from classic
stainless steel bowls to beautifully shaped brass pots and
vases.
Petrone Worldwide Inc. is an importer and distributor of
commercial grade tableware products, decorative hotel guest room
amenities, lavatory and bathroom fixtures and furniture, food and
beverage service items, and trendy accessories for the Asian and
the European marketplaces. The Company's brands include Front of
the House and Room 360.
Petrone Worldwide Inc. is a supplier of food, beverage and
culinary equipment to several large and popular worldwide hotel
chains such as Marriott, The Four Seasons, Hilton, Hyatt and
Starwood as stated per the company.
Alcoa Inc. (NYSE: AA) engaged in lightweight
metals engineering and manufacturing. The Company operates in five
segments: Alumina, Primary Metals, Global Rolled Products,
Engineered Products and Solutions, and Transportation and
Construction Solutions. The company has an impressive list of
clients among them is Boeing, with which Alcoa won a major contract
earlier this year. According to the contract Alcoa will supply
components for the 777X-Boeing's newest commercial airplane-the 737
MAX-scheduled for first delivery in 2017-and the 787
Dreamliner.
AK Steel Holding Corporation (NYSE: AKS) is an
integrated producer of flat-rolled carbon, stainless and electrical
steels and tubular products. On October
25th the company reported quarterly earnings, beating
analysts' expectations. Over all, AK Steel reported a third-quarter
profit of $50.9 million, or
21 cents a share, up sharply from
$6.7 million, or 4 cents a share, a year earlier.
Companies with a focus on international sales and operations,
like Gerdau SA (NYSE: GGB) and ArcelorMittal SA
(NYSE: MT) have also been in focus. Gerdau is a manufacturer of
long carbon steel, long special steel, flat steel and forged and
cast parts in the North and South
America and it is considered to be the main supplier of
specialty steel for the global automotive market. ArcelorMittal SA
is an integrated steel and mining company which operates through
five segments: NAFTA, Europe,
Brazil, Africa and Commonwealth of Independent States
(ACIS), and Mining. The NAFTA segment produces flat, long and
tubular products.
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