Latest news with #Netherlands-headquartered
Yahoo
4 days ago
- Business
- Yahoo
Factbox-Leading steel, aluminum importing companies in US
By Mrinalika Roy (Reuters) -U.S. President Donald Trump's increased tariffs on imported steel and aluminum - key materials used in industries ranging from construction to packaging - kicked in on Wednesday, pushing duties to 50% from 25% previously. While the tariffs are aimed at encouraging investment in domestic production, they have already fuelled higher costs for steel and aluminum consumers, while undermining manufacturing. Given limited capacity to ramp up domestic output, U.S. import volumes are likely to be unaffected unless the price increases undercut demand, putting the spotlight on firms reliant on these shipments. Here is a breakdown of the imports of both metals into the U.S. and the firms that ship them: ALUMINUM About half of all aluminum used in the U.S. is imported, with the vast majority coming from Canada, which exported 3.2 million tons of the metal to the country last year. In 2024, total U.S. imports of aluminum articles were valued at $27.4 billion, according to data from the Observatory of Economic Complexity (OEC), with Canada, China and Mexico the top three suppliers. Data from the Aluminum Association shows that transportation, packaging, construction, electrical and consumer durables sectors import the most amount of aluminum by volumes. According to U.S. CBP Bill of Lading data and shared by OEC, these firms were the top importers in 2024: ES Windows LLC: A leading importer of aluminum products for architectural applications like windows and facades. It accounted for 18.4% of shipments Netherlands-headquartered IKEA Group: Designs and sells ready-to-assemble furniture, home accessories and kitchen appliances. It accounted for 6.34% of shipments. Global automotive manufacturer Nissan, discount retail chain Dollarama and disposable beverage and food supplies firm Lollicup: Each accounted for over 3% of total aluminum shipments last year. Other major importers were Costco, Samsung, and Boeing. STEEL About a quarter of all steel used in the U.S. is imported, the bulk of it from neighbours Mexico and Canada. In 2024, total U.S. imports of iron and steel articles were valued at $49.7 billion, according to data from OEC, with China, Mexico, and Canada being the top suppliers. According to U.S. CBP Bill of Lading data and shared by OEC, these were the top importing companies of 2024: Iron & Steel Articles: IKEA accounted for 5.85% of total imports. SIGMA Corp accounted for 3.94% Stelfast, which makes industrial fasteners like bolts and nuts etc, made up 3.32% of shipments. CrimsonLogic, a global technology firm, accounted for 3.21% of shipments. Other notable companies include German technology firm ZF Friedrichshafen, Continental Materials, Stihl and Cosentino. Basic Iron & Steel Electronics manufacturing company TPV Tech accounted for 18.9% of shipments Valbruna Stainless accounted for 12.8% Brose Mechatronic Systems accounted for 5.89% Multinational engineering and technology company Robert Bosch made up 8.89% of shipments Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
Factbox-Leading steel, aluminum importing companies in US
By Mrinalika Roy (Reuters) -U.S. President Donald Trump's increased tariffs on imported steel and aluminum - key materials used in industries ranging from construction to packaging - kicked in on Wednesday, pushing duties to 50% from 25% previously. While the tariffs are aimed at encouraging investment in domestic production, they have already fuelled higher costs for steel and aluminum consumers, while undermining manufacturing. Given limited capacity to ramp up domestic output, U.S. import volumes are likely to be unaffected unless the price increases undercut demand, putting the spotlight on firms reliant on these shipments. Here is a breakdown of the imports of both metals into the U.S. and the firms that ship them: ALUMINUM About half of all aluminum used in the U.S. is imported, with the vast majority coming from Canada, which exported 3.2 million tons of the metal to the country last year. In 2024, total U.S. imports of aluminum articles were valued at $27.4 billion, according to data from the Observatory of Economic Complexity (OEC), with Canada, China and Mexico the top three suppliers. Data from the Aluminum Association shows that transportation, packaging, construction, electrical and consumer durables sectors import the most amount of aluminum by volumes. According to U.S. CBP Bill of Lading data and shared by OEC, these firms were the top importers in 2024: ES Windows LLC: A leading importer of aluminum products for architectural applications like windows and facades. It accounted for 18.4% of shipments Netherlands-headquartered IKEA Group: Designs and sells ready-to-assemble furniture, home accessories and kitchen appliances. It accounted for 6.34% of shipments. Global automotive manufacturer Nissan, discount retail chain Dollarama and disposable beverage and food supplies firm Lollicup: Each accounted for over 3% of total aluminum shipments last year. Other major importers were Costco, Samsung, and Boeing. STEEL About a quarter of all steel used in the U.S. is imported, the bulk of it from neighbours Mexico and Canada. In 2024, total U.S. imports of iron and steel articles were valued at $49.7 billion, according to data from OEC, with China, Mexico, and Canada being the top suppliers. According to U.S. CBP Bill of Lading data and shared by OEC, these were the top importing companies of 2024: Iron & Steel Articles: IKEA accounted for 5.85% of total imports. SIGMA Corp accounted for 3.94% Stelfast, which makes industrial fasteners like bolts and nuts etc, made up 3.32% of shipments. CrimsonLogic, a global technology firm, accounted for 3.21% of shipments. Other notable companies include German technology firm ZF Friedrichshafen, Continental Materials, Stihl and Cosentino. Basic Iron & Steel Electronics manufacturing company TPV Tech accounted for 18.9% of shipments Valbruna Stainless accounted for 12.8% Brose Mechatronic Systems accounted for 5.89% Multinational engineering and technology company Robert Bosch made up 8.89% of shipments Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Business Standard
25-04-2025
- Business
- Business Standard
India's Canara Robeco Asset Management Company files paper for IPO
India's Canara Robeco Asset Management Company has filed for an initial public offering, draft papers showed on Friday, with its existing shareholders looking to sell stakes at a time when the IPO market is slowing. Canara Robeco is a joint venture between India's state-owned Canara Bank and Netherlands-headquartered ORIX Corporation Europe, which is a unit of Japan's ORIX Corporation. The firm, which manages more than 1 trillion rupees ($11.7 billion) in assets, will not issue fresh shares in the IPO, but the two owners will sell a combined 49.8 million shares. Canara Bank will reduce its stake in the asset manager by 13% by selling 25.92 million shares via the listing. ORIX will sell 23.93 million shares. The asset manager did not detail the size or timing of the IPO. The listing is set to come at a time when rising global market volatility, driven by U.S. tariff flip-flops, is forcing companies to recalibrate IPO ambitions to avoid weak demand or failed listings. India was the world's second-largest market by IPO proceeds in 2024 but listings are down close to 15% this year, data compiled by LSEG showed. Canara Robeco competes with other major asset managers such as HDFC Asset Management Company, Nippon Life India Asset Management and UTI Asset Management Company . Its profit for the fiscal year ended March 2024 was 91% higher than a year ago, the draft prospectus showed, while revenue from operations was 55.4% higher. In a country where physical assets still dominate financial savings, investments in mutual funds are on the rise, in tandem with greater financial awareness. Mutual funds, as a portion of household financial savings, grew from 2% to around 7% between fiscal years 2021 and 2024, with investment value more than doubling to 2.4 trillion rupees, the prospectus showed, citing data from India's central bank and Crisil Intelligence. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Reuters
25-04-2025
- Business
- Reuters
India's Canara Robeco Asset Management files for IPO
April 25 (Reuters) - India's Canara Robeco Asset Management Company has filed for an initial public offering, draft papers showed on Friday, with its existing shareholders looking to sell stakes at a time when the IPO market is slowing. Canara Robeco is a joint venture between India's state-owned Canara Bank ( opens new tab and Netherlands-headquartered ORIX Corporation Europe, which is a unit of Japan's ORIX Corporation (8591.T), opens new tab. The firm, which manages more than 1 trillion rupees ($11.7 billion) in assets, will not issue fresh shares in the IPO, but the two owners will sell a combined 49.8 million shares. Canara Bank will reduce its stake in the asset manager by 13% by selling 25.92 million shares via the listing. ORIX will sell 23.93 million shares. The asset manager did not detail the size or timing of the IPO. The listing is set to come at a time when rising global market volatility, driven by U.S. tariff flip-flops, is forcing companies to recalibrate IPO ambitions to avoid weak demand or failed listings. India was the world's second-largest market by IPO proceeds in 2024 but listings are down close to 15% this year, data compiled by LSEG showed. Canara Robeco competes with other major asset managers such as HDFC Asset Management Company ( opens new tab, Nippon Life India Asset Management ( opens new tab and UTI Asset Management Company ( opens new tab. Its profit for the fiscal year ended March 2024 was 91% higher than a year ago, the draft prospectus showed, while revenue from operations was 55.4% higher. In a country where physical assets still dominate financial savings, investments in mutual funds are on the rise, in tandem with greater financial awareness. Mutual funds, as a portion of household financial savings, grew from 2% to around 7% between fiscal years 2021 and 2024, with investment value more than doubling to 2.4 trillion rupees, the prospectus showed, citing data from India's central bank and Crisil Intelligence. ($1 = 85.3680 Indian rupees)
Yahoo
14-04-2025
- Business
- Yahoo
Zertus takes full ownership of sports-nutrition business Well Plus Trade
German food business Zertus has taken over the Hamburg-based sports-nutrition business Well Plus Trade. Zertus previously held 50% of the shares in Well Plus Trade (WPT) and has now bought out its shareholding partner, Netherlands-headquartered investment company Nimbus. Zertus bought the original holding in Well Plus Trade in 2022, according to the German company's legal representative at the time, Rocan. Well Plus Trade produces organic "bio-protein" shakes under the brand SedVital. Its Power System line of products also includes nutrition bars, protein powders and food supplements like Branched-Chain Amino Acid (BCAA) tablets, BCAA powders and L carnitine ampoules. The company also offers private label, providing product development, legal advice, marketing and sales guidance on the sports-nutrition market. Well Plus Trade CEO Annette Horváth said in a LinkedIn post: "We have officially entered a new chapter in our company's journey: Zertus consolidates ownership, and Well Plus Trade GmbH is now a full group company of Zertus GmbH. I am excited to continue our mission, based on the Power System brand and our B2B partnering business. "I am passionate about the opportunities that lie ahead - in our home markets, e-commerce and internationally." Zertus CEO Patrick Mueller-Sarmiento said on the same social media platform: "By acquiring the remaining shares, we're doubling down on our commitment to the fast-growing functional nutrition market. Together with Annette Horváth and her fantastic team, we're ready to take WPT's success story to the next level – with innovation, independence, and full-on power." Zertus is also present in the UK and Ireland. It expanded its snacking and confectionary presence in 2021 with the acquisition of the The Sun Valley Nut Company. Zertus also owns sports-nutrition company Dextro Energy and German online organic trader Bio Zentrale, among other labels. "Zertus takes full ownership of sports-nutrition business Well Plus Trade" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
