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.
Source:PRNews