Dillinger Hütte is a steel producer in Dillingen , in the German Federal State of Saarland , and has a history stretching back more than three hundred years. The plant was founded in 1685, and was Germany's first Aktiengesellschaft, or joint stock company (1809).
121-472: The first continuous-caster for slabs in the world was commissioned in Dillingen in 1962. A further machine, permitting casting of slabs of up to 400 mm in thickness – the thickest produced anywhere in the world at that time – was added, along with other new facilities, in 1998. In 2010, Dillinger Hütte successfully produced the first 450 mm thick slab – another world record. The principal equipment in
242-635: A benefit for an employee upon that employee's retirement is a defined benefit plan. In the U.S., corporate defined benefit plans, along with many other types of defined benefit plans, are governed by the Employee Retirement Income Security Act of 1974 (ERISA). In the United Kingdom , benefits are typically indexed for inflation (known as Retail Prices Index (RPI)) as required by law for registered pension plans. Inflation during an employee's retirement affects
363-421: A continuous casting operation, the products are usually fed directly into the rolling mills at the proper temperature. In smaller operations, the material starts at room temperature and must be heated. This is done in a gas- or oil-fired soaking pit for larger workpieces; for smaller workpieces, induction heating is used. As the material is worked, the temperature must be monitored to make sure it remains above
484-463: A reduction mill or mill , has a common construction independent of the specific type of rolling being performed: Slabs are the feed material for hot strip mills or plate mills and blooms are rolled to billets in a billet mill or large sections in a structural mill. The output from a strip mill is coiled and, subsequently, used as the feed for a cold rolling mill or used directly by fabricators. Billets, for re-rolling, are subsequently rolled in either
605-453: A defined contribution plan depends upon the account balance at the time an employee is looking to use the assets. So, for this arrangement, the contribution is known but the benefit is unknown (until calculated). Despite the fact that the participant in a defined contribution plan typically has control over investment decisions, the plan sponsor retains a significant degree of fiduciary responsibility over investment of plan assets, including
726-496: A defined-benefit social security system, but is more controversial when applied to high levels of professional income. Why should younger generations pay for executive pensions which they themselves are unsure of collecting? Employers have sought ways of getting round this problem through pre-funding, but in civil-law countries have often been limited by the legal vehicles available. A suitable legal vehicle should ideally have three qualities. First, it should convince employees that
847-451: A finite element model (FE) for predicting the final shape of a rolled bar in round-flat pass. One of the major concerns when designing rolling mills is to reduce the number of passes. A possible solution to such requirements is the slit pass , also called split pass , which divides an incoming bar in two or more subparts, thus virtually increasing the cross section reduction ratio per pass as reported by Lambiase. Another solution for reducing
968-452: A fund towards meeting the benefits. All plans must be funded in some way, even if they are pay-as-you-go, so this type of plan is more accurately known as pre-funded or fully-funded . The future returns on the investments, and the future benefits to be paid, are not known in advance, so there is no guarantee that a given level of contributions will be enough to meet the benefits. Typically, the contributions to be paid are regularly reviewed in
1089-536: A hammer. Although Cort was not the first to use grooved rolls, he was the first to combine the use of many of the best features of various ironmaking and shaping processes known at the time. Thus modern writers have called him "father of modern rolling". The first rail rolling mill was established by John Birkenshaw at Bedlington Ironworks in Northumberland , England, in 1820, where he produced fish-bellied wrought iron rails in lengths of 15 to 18 feet. With
1210-417: A lot of residual stresses, which usually occurs in shapes that have a non-uniform cross-section, such as I-beams . While the finished product is of good quality, the surface is covered in mill scale , which is an oxide that forms at high temperatures. It is usually removed via pickling or the smooth clean surface (SCS) process, which reveals a smooth surface. Dimensional tolerances are usually 2 to 5% of
1331-416: A merchant, bar or rod mill. Merchant or bar mills produce a variety of shaped products such as angles, channels, beams, rounds (long or coiled) and hexagons. Mills are designed in different types of configurations, with the most basic being a two-high non-reversing , which means there are two rolls that only turn in one direction. The two-high reversing mill has rolls that can rotate in both directions, but
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#17328025354481452-438: A new breed of collective risk sharing schemes where plan members pool their contributions and to a greater or less extent share the investment and longevity risk . There are multiple naming conventions for these plans reflecting the fact that the future payouts are a target or ambition of the plan sponsor rather than a guarantee, common naming conventions include: Defined contribution pensions, by definition, are funded, as
1573-443: A parametric Finite element model and to optimize and automatically design rolling mills. Cold rolling occurs with the metal below its recrystallization temperature (usually at room temperature), which increases the strength via strain hardening up to 20%. It also improves the surface finish and holds tighter tolerances . Commonly cold-rolled products include sheets, strips, bars, and rods; these products are usually smaller than
1694-407: A portion of the employee's contributions to be matched by the employer. In exchange, the funds in such plans may not be withdrawn by the investor prior to reaching a certain age—typically the year the employee reaches 59.5 years old (with a small number of exceptions)—without incurring a substantial penalty. Advocates of defined contribution plans point out that each employee has the ability to tailor
1815-433: A rolling mill can produce 10 to 20 or more bars at the same time. A patent was granted to Thomas Blockley of England in 1759 for the polishing and rolling of metals. Another patent was granted in 1766 to Richard Ford of England for the first tandem mill. A tandem mill is one in which the metal is rolled in successive stands; Ford's tandem mill was for hot rolling of wire rods. Rolling mills for lead seem to have existed by
1936-455: A similar stream of payments. The common use of the term pension is to describe the payments a person receives upon retirement, usually under predetermined legal or contractual terms. A recipient of a retirement pension is known as a pensioner or retiree . A retirement plan is an arrangement to provide people with an income during retirement when they are no longer earning a steady income from employment. Often retirement plans require both
2057-411: A single pass is limited by the friction between the rolls; if the change in thickness is too great the rolls just slip over the material and do not draw it in. The final product is either sheet or plate, with the former being less than 6 mm (0.24 in) thick and the latter greater than; however, heavy plates tend to be formed using a press , which is termed forging , rather than rolling. Often
2178-454: A small diameter rolls. To reduce the need for small rolls pack rolling is used, which rolls multiple sheets together to increase the effective starting thickness. As the foil sheets come through the rollers, they are trimmed and slitted with circular or razor-like knives . Trimming refers to the edges of the foil, while slitting involves cutting it into several sheets. Aluminum foil is the most commonly produced product via pack rolling. This
2299-472: A specific amount of income throughout their retirement years. However this income is not usually guaranteed to keep up with inflation, so its purchasing power may decline over the years. On the other hand, defined contribution plans are dependent upon the amount of money contributed and the performance of the investment vehicles used. Employees are responsible for ensuring that their contributions are sufficient to provide for their retirement needs, and they face
2420-574: A tax break depending on the country and plan type. For example, Canadians have the option to open a registered retirement savings plan (RRSP), as well as a range of employee and state pension programs. This plan allows contributions to this account to be marked as un-taxable income and remain un-taxed until withdrawal. Most countries' governments will provide advice on pension schemes. Social and state pensions depend largely upon legislation for their sustainability. Some have identified funds, but these hold essentially government bonds—a form of " IOU " by
2541-819: A tiered system. For a simplified example, suppose there are three employees that pay into a state pension system: Sam, Veronica, and Jessica. The state pension system has three tiers: Tier I, Tier II, and Tier III. These three tiers are based on the employee's hire date (i.e. Tier I covers 1 January 1980 (and before) to 1 January 1995, Tier II 2 January 1995 to 1 January 2010, and Tier III 1 January 2010 to present) and have different benefit provisions (e.g. Tier I employees can retire at age 50 with 80% benefits or wait until 55 with full benefits, Tier II employees can retire at age 55 with 80% benefits or wait until 60 for full benefits, Tier III employees can retire at age 65 with full benefits). Therefore, Sam, hired in June 1983, would be subject to
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#17328025354482662-409: A valuation of the plan's assets and liabilities, carried out by an actuary to ensure that the pension fund will meet future payment obligations. This means that in a defined benefit pension, investment risk and investment rewards are typically assumed by the sponsor/employer and not by the individual. If a plan is not well-funded, the plan sponsor may not have the financial resources to continue funding
2783-498: A works school founded. The plant was 65% destroyed during the Second World War; nearly 200,000 shells fell on the plant site. The consequences were months of clearance work, and a completely fresh start. After the war, Dillinger Hütte continued to invest in steel, investing in worldwide innovations, such as the first slab caster in 1962, the new heavy-plate rolling mill in 1971, the world's most powerful rolling stand in 1985,
2904-468: Is 2% thicker than the edges). It is typically desirable to have some crown in the workpiece as this will cause the workpiece to tend to pull to the center of the mill, and thus will run with higher stability. Pension A pension ( / ˈ p ɛ n ʃ ən / ; from Latin pensiō 'payment') is a fund into which amounts are paid regularly during an individual's working career, and from which periodic payments are made to support
3025-407: Is a metal forming process in which metal stock is passed through one or more pairs of rolls to reduce the thickness, to make the thickness uniform, and/or to impart a desired mechanical property. The concept is similar to the rolling of dough . Rolling is classified according to the temperature of the metal rolled. If the temperature of the metal is above its recrystallization temperature, then
3146-668: Is a "contribution based" benefit, and depends on an individual's contribution history. For examples, see National Insurance in the UK, or Social Security in the United States of America. Many countries have also put in place a " social pension ". These are regular, tax-funded non-contributory cash transfers paid to older people. Over 80 countries have social pensions. Some are universal benefits, given to all older people regardless of income, assets or employment record. Examples of universal pensions include New Zealand Superannuation and
3267-401: Is a plan in which workers accrue pension rights during their time at a firm and upon retirement the firm pays them a benefit that is a function of that worker's tenure at the firm and of their earnings. In other words, a DB plan is a plan in which the benefit on retirement is determined by a set formula, rather than depending on investment returns. Government pensions such as Social Security in
3388-570: Is a type of thermomechanical processing which integrates controlled deformation and heat treating . The heat which brings the workpiece above the recrystallization temperature is also used to perform the heat treatments so that any subsequent heat treating is unnecessary. Types of heat treatments include the production of a fine grain structure; controlling the nature, size, and distribution of various transformation products (such as ferrite , austenite , pearlite , bainite , and martensite in steel); inducing precipitation hardening ; and, controlling
3509-415: Is a type of employment-based Pension in the UK. The 401(k) is the iconic self-funded retirement plan that many Americans rely on for much of their retirement income; these sometimes include money from an employer, but are usually mostly or entirely funded by the individual using an elaborate scheme where money from the employee's paycheck is withheld, at their direction, to be contributed by their employer to
3630-536: Is continuously deformed to produce a certain finished product with smaller cross section dimension and geometry. Starting from a given billet, different sequences can be adopted to produce a certain final product. However, since each rolling mill is significantly expensive (up to 2 million euros), a typical requirement is to reduce the number of rolling passes. Different approaches have been achieved, including empirical knowledge, employment of numerical models, and Artificial Intelligence techniques. Lambiase et al. validated
3751-427: Is done in one pass. In a traditional rolling mill rolling is done in several passes, but in tandem mill there are several stands (>=2 stands) and reductions take place successively. The number of stands ranges from 2 to 18. Tandem mills can be either of hot or cold rolling mill types. Cold rolling mills may be further divided into continuous or batch processing. A continuous mill has a looping tower which allows
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3872-411: Is evident from the two different surface finishes; the shiny side is on the roll side and the dull side is against the other sheet of foil. Ring rolling is a specialized type of hot rolling that increases the diameter of a ring. The starting material is a thick-walled ring. This workpiece is placed between two rolls, an inner idler roll and a driven roll , which presses the ring from the outside. As
3993-419: Is fed in between two rollers , called working rolls , that rotate in opposite directions. The gap between the two rolls is less than the thickness of the starting material, which causes it to deform . The decrease in material thickness causes the material to elongate. The friction at the interface between the material and the rolls causes the material to be pushed through. The amount of deformation possible in
4114-516: Is legally no different from the portability of defined benefit plans. However, because of the cost of administration and ease of determining the plan sponsor's liability for defined contribution plans (you do not need to pay an actuary to calculate the lump sum equivalent that you do for defined benefit plans) in practice, defined contribution plans have become generally portable. In a defined contribution plan, investment risk and investment rewards are assumed by each individual/employee/retiree and not by
4235-420: Is mainly used to preform long-scaled billets through targeted mass distribution for parts such as crankshafts, connection rods, steering knuckles and vehicle axles. Narrowest manufacturing tolerances can only partially be achieved by forge rolling. This is the main reason why forge rolling is rarely used for finishing, but mainly for preforming. Characteristics of forge rolling: A rolling mill , also known as
4356-580: Is now Belgium to England in 1590. These passed flat bars between rolls to form a plate of iron, which was then passed between grooved rolls (slitters) to produce rods of iron. The first experiments at rolling iron for tinplate took place about 1670. In 1697, Major John Hanbury erected a mill at Pontypool to roll "Pontypool plates" – blackplate . Later this began to be rerolled and tinned to make tinplate . The earlier production of plate iron in Europe had been in forges, not rolling mills. The slitting mill
4477-403: Is obtained. Roll forming is ideal for producing parts with long lengths or in large quantities. There are three main processes: 4 rollers, 3 rollers and 2 rollers, each of which has as different advantages according to the desired specifications of the output plate. Flat rolling is the most basic form of rolling with the starting and ending material having a rectangular cross-section. The material
4598-625: Is used for these products. Dillinger Hütte is also a 50% owner of Europipe GmbH, Europe's largest manufacturer of large-caliber line pipe, with facilities in Germany, France and the USA. Dillingen is the only location in the Saar region at which iron is smelted. The jointly owned ROGESA blast furnace operator also supplies Saarstahl, the other co-owner, with hot metal. Further examples of the use of steel from Dillinger Hütte: In 1685, Louis XIV of France -
4719-484: The Medal of Honor qualify for a separate stipend. Retirement pay for military members in the reserve and US National Guard is based on a point system. Many countries have created funds for their citizens and residents to provide income when they retire (or in some cases become disabled). Typically this requires payments throughout the citizen's working life in order to qualify for benefits later on. A basic state pension
4840-789: The Moses Mabhida Stadium in Durban, and the luxury liner , Queen Mary 2 . The striking arc of the Olympic Stadium in Athens was also welded from plate supplied by Dillinger Hütte. The main application for Dillinger Hütte's heavy plate output, however, is the making of large-caliber line pipe for major pipeline projects. The so-called thermomechanical rolling process, an extremely sophisticated rolling method which permits attainment of maximized mechanical properties combined with optimum working (bending and welding) characteristics,
4961-566: The rolling mill now takes the form of two four-high stands, of which one is currently the largest in the world, with an effective rolling width of 5.5 m and a rolling pressure of 110 MN. The Dillinger Hütte group also includes a further rolling mill operated by GTS Industries in Dunkirk (France). The group's parent company is DHS Holding, which owns 95.28% of the shares in the operating company, AG der Dillinger Hütte. Another 4.72% are held in free float . The company's products are marketed under
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5082-586: The semi-finished casting products into finished products. There are many types of rolling processes, including ring rolling , roll bending , roll forming , profile rolling , and controlled rolling . The earliest rolling mills in crude form but the same basic principles were found in Middle East and South Asia as early as 600 BCE. The invention of the rolling mill in Europe may be attributed to Leonardo da Vinci in his drawings. Earliest rolling mills were slitting mills , which were introduced from what
5203-429: The toughness . In order to achieve this the entire process must be closely monitored and controlled. Common variables in controlled rolling include the starting material composition and structure, deformation levels, temperatures at various stages, and cool-down conditions. The benefits of controlled rolling include better mechanical properties and energy savings. Forge rolling is a longitudinal rolling process to reduce
5324-445: The "Bradley Commission") in 1955–56. Pensions may extend past the death of the veteran himself, continuing to be paid to the widow. In the U.S., retired military receive a military retirement pay , not called a "pension" as they can be recalled to active duty at any time. Military retirement pay is calculated on number of years on active duty, final pay grade and the retirement system in place when they entered service. Members awarded
5445-428: The "guarantee" made to employees is that specified (defined) contributions will be made during an individual's working life. There are many ways to finance a pension and save for retirement. Pension plans can be set up by an employer, matching a monetary contribution each month, by the state or personally through a pension scheme with a financial institution, such as a bank or brokerage firm. Pension plans often come with
5566-821: The Back-up Rolls from about Stand 3 of the Hot Strip Mill through to the Finished Product. The Back-up Roll eccentricity can be up to 100 μm in magnitude per stack. The eccentricity can be measured off-line by plotting the force variation against time with the Mill on creep, no strip present, and the Mill Stand below face. A modified Fourier analysis was employed by the 5 Stand Cold Mill at Bluescope Steel, Port Kembla from 1986 until that Cold Mill ceased production in 2009. Within each coil,
5687-528: The Backup Rolls of each Stand. If a Mill Stand is fitted with Hydraulic Pistons in series with, or instead of the electrically driven Mechanical Screws, then it is possible to eliminate the effect of that Stands Back-up Roll eccentricity. While rolling, the eccentricity of each Back-up Roll is determined by sampling the roll force and assigning it to the corresponding portion of each Back-up Roll's rotational position. These recordings are then used to operate
5808-636: The Basic Retirement Pension of Mauritius . Most social pensions, though, are means-tested, such as Supplemental Security Income in the United States of America or the "older person's grant" in South Africa . Some pension plans will provide for members in the event they suffer a disability . This may take the form of early entry into a retirement plan for a disabled member below the normal retirement age. The benefits of defined benefit and defined contribution plans differ based on
5929-628: The Dillinger Hütte GTS trade name . The shares in DHS Holding are owned 33.4% by the international ArcelorMittal steel group, with 33.75% held by Saarstahl AG and 15.00% by Struktur-Holding-Stahl. Reciprocal part-ownership exists with Saarstahl AG, in which Dillinger Hütte holds 25.10%. Dillinger Hütte also owns 50% of the ROGESA Roheisengesellschaft iron smelting company, whose blast furnaces , located on
6050-589: The Dillinger Hütte plant site, produce inter alia the "hot metal" (liquid pig iron ) required for steel production. ROGESA itself also has a stake in the ZKS Zentralkokerei Saar coking-plant operator, the facilities of which also form part of the Dillinger Hütte site. Dillinger Hütte produces heavy steel plate, cast slag pots and semi-finished products, such as pressings, and (pressure) vessel heads and shell sections. Total production when
6171-531: The French subsidiary, GTS Industries, is included is well over two million tonnes of heavy plate annually, in a thickness range extending from 6 to 440 mm, making the company Europe's largest heavy plate producer. This robust material is used for fabrication of drilling rigs, ships, petrochemicals plants, bridges and heavy machinery; reference projects include the Öresund Bridge and the Millau Viaduct ,
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#17328025354486292-481: The Hydraulic Piston so as to neutralize the eccentricities. In a flat metal workpiece, the flatness is a descriptive attribute characterizing the extent of the geometric deviation from a reference plane. The deviation from complete flatness is the direct result of the workpiece relaxation after hot or cold rolling, due to the internal stress pattern caused by the non-uniform transversal compressive action of
6413-465: The Netherlands ($ 1.8T), Japan ($ 1.7T), Switzerland ($ 1.1T), Denmark ($ 0.8T), Sweden, Brazil and S. Korea (each $ 0.5T), Germany, France, Israel, P.R. China, Mexico, Italy, Chile, Belgium, Spain and Finland (each roughly $ 0.2T), etc. Without the vast body of common law to draw upon, statutory trusts tend to be more uniform and tightly regulated. However, pension assets alone are not a useful guide to
6534-694: The Social Security Reserve Fund and France set up the Pensions Reserve Fund ; in Canada the wage-based retirement plan (CPP) is partially funded, with assets managed by the CPP Investment Board while the U.S. Social Security system is partially funded by investment in special U.S. Treasury Bonds. In a funded plan, contributions from the employer, and sometimes also from plan members, are invested in
6655-407: The U.S. since the 1990s. Cash balance plans, for example, provide a guaranteed benefit like a defined benefit plan, but the benefit is expressed as an account balance, like a defined contribution plan. Pension equity plans are a type of cash balance plan that credits employee accounts with a percentage of their pay each year, similar to a defined contribution plan. A Defined Benefit (DB) pension plan
6776-480: The US, defined contribution plans are subject to IRS limits on how much can be contributed, known as the section 415 limit. In 2009, the total deferral amount, including employee contribution plus employer contribution, was limited to $ 49,000 or 100% of compensation, whichever is less. The employee-only limit in 2009 was $ 16,500 with a $ 5,500 catch-up. These numbers usually increase each year and are indexed to compensate for
6897-425: The United States are a type of defined benefit pension plan. Traditionally, defined benefit plans for employers have been administered by institutions which exist specifically for that purpose, by large businesses, or, for government workers, by the government itself. A traditional form of defined benefit plan is the final salary plan, under which the pension paid is equal to the number of years worked, multiplied by
7018-505: The United States include individual retirement accounts (IRAs) and 401(k) plans . In such plans, the employee is responsible, to one degree or another, for selecting the types of investments toward which the funds in the retirement plan are allocated. This may range from choosing one of a small number of pre-determined mutual funds to selecting individual stocks or other financial assets. Most self-directed retirement plans are characterized by certain tax advantages , and some provide for
7139-474: The United States of America and Canada now face chronic pension crises. A defined contribution (DC) plan, is a pension plan where employers set aside a certain proportion (i.e. contributions) of a worker's earnings (such as 5%) in an investment account, and the worker receives this savings and any accumulated investment earnings upon retirement. These contributions are paid into an individual account for each member. The contributions are invested, for example in
7260-534: The advancement of technology in rolling mills, the size of rolling mills grew rapidly along with the size of the products being rolled. One example of this was at The Great Exhibition in London in 1851, where a plate 20 feet long, 3 1 ⁄ 2 feet wide, and 7/16 of an inch thick, and weighing 1,125 pounds, was exhibited by the Consett Iron Company . Further evolution of the rolling mill came with
7381-509: The assets are truly secured for their benefit. Second, contributions to the vehicle should be tax-deductible to the employer (or at least, a tax deduction should be secured already). And third, to the extent that it has funded the pension liability, the employer should be able to reduce the liability shown on its balance sheet. In the absence of appropriate statute, attempts have been made to invent suitable vehicles with varying degrees of success. The most notable has been in Germany where, until
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#17328025354487502-508: The attainment of normal retirement age (usually age 65). Companies would rather hire younger employees at lower wages. Some of those provisions come in the form of additional temporary or supplemental benefits , which are payable to a certain age, usually before attaining normal retirement age. Due to changes in pensions over the years, many pension systems, including those in Alabama , California , Indiana , and New York , have shifted to
7623-507: The average retirement age and lifespan of the employees, the returns to be earned by the pension plan's investments and any additional taxes or levies, such as those required by the Pension Benefit Guaranty Corporation in the U.S. So, for this arrangement, the benefit is relatively secure but the contribution is uncertain even when estimated by a professional. This has serious cost considerations and risks for
7744-408: The back side of the smaller rolls. A four-high mill has four rolls, two small and two large. A cluster mill has more than four rolls, usually in three tiers. These types of mills are commonly used to hot roll wide plates, most cold rolling applications, and to roll foils. Historically mills were classified by the product produced: A tandem mill is a special type of modern rolling mill where rolling
7865-415: The beginning of the 19th century the workforce had grown to over 2,500. The so-called "Dillingen platemaker's gauge", covering twenty-four different plate thicknesses, had by then long become the definitive standard throughout Europe. Dillinger Hütte was also progressive in the social sphere: an assistance and a pension fund were set up, and a works hospital, a residential estate for the plant's workers and
7986-483: The best interests of the beneficiaries. These jurisdictions account for over 80% of assets held by private pension plans around the world. Of the $ 50.7 trillion of global assets in 2019, $ 32.2T were in U.S. plans, the next largest being the U.K. ($ 3.2T), Canada ($ 2.8T), Australia ($ 1.9T), Singapore ($ 0.3T), Hong Kong and Ireland (each roughly $ 0.2T), New Zealand, India, Kenya, Nigeria, Jamaica, etc. Civil-law jurisdictions with statutory trust vehicles for pensions include
8107-405: The center as compared to the average thickness at the edges of the workpiece. Wedge is a measure of the thickness at one edge as opposed to the other edge. Both may be expressed as absolute measurements or as relative measurements. For instance, one could have 2 mil of crown (the center of the workpiece is 2 mil thicker than the edges), or one could have 2% crown (the center of the workpiece
8228-490: The construction of the first plate rolling-mill in continental Europe. These developments brought the factory to the forefront as Prussia's largest black and tin plate producer. With approval from emperor Napoléon Bonaparte, Dillinger Hütte in 1809 became Germany's first joint stock company, and one of the first in Europe. The company adopted the name Anonyme Gesellschaft der Dillinger Hüttenwerke in 1828. State-of-the-art rolling facilities and blast furnaces were installed, and by
8349-402: The cost of being more expensive. Roll bending produces a cylindrical shaped product from plate or steel metals. Roll forming, roll bending or plate rolling is a continuous bending operation in which a long strip of metal (typically coiled steel) is passed through consecutive sets of rolls, or stands, each performing only an incremental part of the bend, until the desired cross-section profile
8470-403: The cross-section is relatively uniform and the transverse dimension is relatively small. Cold rolling shapes requires a series of shaping operations, usually along the lines of sizing, breakdown, roughing, semi-roughing, semi-finishing, and finishing. If processed by a blacksmith, the smoother, more consistent, and lower levels of carbon encapsulated in the steel makes it easier to process, but at
8591-436: The cross-sectional area of heated bars or billets by leading them between two contrary rotating roll segments. The process is mainly used to provide optimized material distribution for subsequent die forging processes. Owing to this a better material utilization, lower process forces and better surface quality of parts can be achieved in die forging processes. Basically any forgeable metal can also be forge-rolled. Forge rolling
8712-441: The degree of financial security provided to the retiree. With defined benefit plans, retirees receive a guaranteed payout at retirement, determined by a fixed formula based on factors such as salary and years of service. The risk and responsibility of ensuring sufficient funding through retirement is borne by the employer or plan managers. This type of plan provides a level of financial security for retirees, ensuring they will receive
8833-403: The differential fiber elongation across the width of the workpiece. This property must be subject to an accurate feedback-based control in order to guarantee the machinability of the metal sheets in the final transformation processes. Some technological details about the feedback control of flatness are given in. Profile is made up of the measurements of crown and wedge. Crown is the thickness in
8954-467: The disadvantage is that the rolls must be stopped, reversed, and then brought back up to rolling speed between each pass. To resolve this, the three-high mill was invented, which uses three rolls that rotate in one direction; the metal is fed through two of the rolls and then returned through the other pair. The disadvantage to this system is the workpiece must be lifted and lowered using an elevator. All of these mills are usually used for primary rolling and
9075-674: The effects of inflation. For 2015, the limits were raised to $ 53,000 and $ 18,000, respectively. Examples of defined contribution pension schemes in other countries are, the UK's personal pensions and proposed National Employment Savings Trust (NEST), Germany's Riester plans, Australia's Superannuation system and New Zealand's KiwiSaver scheme. Individual pension savings plans also exist in Austria, Czech Republic, Denmark, Greece, Finland, Ireland, Netherlands, Slovenia and Spain Many developed economies are moving beyond DB & DC Plans and are adopting
9196-517: The employee's plan. This money can be tax-deferred or not, depending on the exact nature of the plan. Some countries also grant pensions to military veterans. Military pensions are overseen by the government; an example of a standing agency is the United States Department of Veterans Affairs . Ad hoc committees may also be formed to investigate specific tasks, such as the U.S. Commission on Veterans' Pensions (commonly known as
9317-440: The employer and employee to contribute money to a fund during their employment in order to receive defined benefits upon retirement. It is a tax deferred savings vehicle that allows for the tax-free accumulation of a fund for later use as retirement income. Funding can be provided in other ways, such as from labor unions, government agencies, or self-funded schemes. Pension plans are therefore a form of "deferred compensation". A SSAS
9438-494: The employer is the reason given by many employers for switching from defined benefit to defined contribution plans over recent years. The risks to the employer can sometimes be mitigated by discretionary elements in the benefit structure, for instance in the rate of increase granted on accrued pensions, both before and after retirement. The age bias, reduced portability and open ended risk make defined benefit plans better suited to large employers with less mobile workforces, such as
9559-559: The employer offering a pension plan. One of the growing concerns with defined benefit plans is that the level of future obligations will outpace the value of assets held by the plan ( Unfunded mandate ). This "underfunding" dilemma can be faced by any type of defined benefit plan, private or public, but it is most acute in governmental and other public plans where political pressures and less rigorous accounting standards can result in excessive commitments to employees and retirees, but inadequate contributions. Many states and municipalities across
9680-404: The employer tends to pay higher contributions than under defined contribution plans), so such criticism is rarely harsh. The "cost" of a defined benefit plan is not easily calculated, and requires an actuary or actuarial software. However, even with the best of tools, the cost of a defined benefit plan will always be an estimate based on economic and financial assumptions. These assumptions include
9801-438: The end of the 20th century, most occupational pensions were unfunded ("book-reserved") promises by employers. Changes started in 1983. Most national pension systems are based on multi-pillar schemes to ensure greater flexibility and financial security to the old in contrast to reliance on one single system. In general, there are three main functions of pension systems: saving, redistribution and insurance functions. According to
9922-427: The exit thickness deviation times 10 for every meter of strip was stored in a file. This file was analyzed separately for each frequency/wavelength from 5 m to 60 m in steps of 0.1 m. To improve the accuracy, care was taken to use a full multiple of each wavelength (100*). The calculate amplitudes were plotted against the wavelength, so that the spikes could be compared to the expected wavelengths created by
10043-474: The famous "Sun King" - granted approval to the Marquis Charles Henri de Lénoncourt for the construction of an ironworks, complete with a smelting furnace, before the gates of the fortress of Saarlouis. Locational factors for the founding of this works were excellent - the nearby Prims river supplied the necessary water-power, the surrounding woods the fuel for the furnaces, and the ore deposits in
10164-643: The form of a guaranteed life annuity , thus insuring against the risk of longevity . A pension created by an employer for the benefit of an employee is commonly referred to as an occupational or employer pension. Labor unions , the government, or other organizations may also fund pensions. Occupational pensions are a form of deferred compensation , usually advantageous to employee and employer for tax reasons. Many pensions also contain an additional insurance aspect, since they often will pay benefits to survivors or disabled beneficiaries. Other vehicles (certain lottery payouts, for example, or an annuity ) may provide
10285-441: The immediate vicinity the feed materials for production. The first products were iron forgings, nails and cast artifacts such as pots, pans and so-called "Takenplatten", decorative iron plates that carried the heat of the kitchen over into the adjacent living space by conduction and radiation. Production was gradually optimized over succeeding years, with plate beginning to predominate in the mill's product mix as from 1802, following
10406-572: The individual; the terminology varies between countries. Retirement plans may be set up by employers, insurance companies, the government, or other institutions such as employer associations or trade unions. Called retirement plans in the United States , they are commonly known as pension schemes in the United Kingdom and Ireland and superannuation plans (or super ) in Australia and New Zealand . Retirement pensions are typically in
10527-524: The introduction of three-high mills in 1853 used for rolling heavy sections. Hot rolling is a metalworking process that occurs above the recrystallization temperature of the material. After the grains deform during processing, they recrystallize, which maintains an equiaxed microstructure and prevents the metal from work hardening . The starting material is usually large pieces of metal, like semi-finished casting products , such as ingots , slabs , blooms , and billets . If these products came from
10648-400: The investment portfolio to his or her individual needs and financial situation, including the choice of how much to contribute, if anything at all. However, others state that these apparent advantages could also hinder some workers who might not possess the financial savvy to choose the correct investment vehicles or have the discipline to voluntarily contribute money to retirement accounts. In
10769-431: The late 17th century. Copper and brass were also rolled by the late 18th century. Until well into the eighteenth century, rolling mills derived their power from water wheels . The first recorded use of a steam engine directly driving a mill is attributed to John Wilkinson 's Bradley Works where, in 1786, a Boulton and Watt engine was coupled to a slitting and rolling mill. The use of steam engines considerably enhanced
10890-450: The member's salary at retirement, multiplied by a factor known as the accrual rate . The final accrued amount is available as a monthly pension or a lump sum, but usually monthly. In the US, 26 U.S.C. § 414(j) specifies a defined benefit plan to be any pension plan that is not a defined contribution plan (see below) where a defined contribution plan is any plan with individual accounts. A traditional pension plan that defines
11011-512: The mill to continue rolling slowly the strip in the tower, while a strip welder joins the tail of the current coil to the head of the next coil. At the exit end of the mill there is normally a flying shear (to cut the strip at or near the weld) followed by two coilers; one being unloaded while the other winds on the current coil. Looping towers are also used in other places; such as continuous annealing lines and continuous electrolytic tinning and continuous galvanising lines . In hot rolling, if
11132-409: The number of passes in rolling mills is the employment of automated systems for Roll Pass Design as that proposed by Lambiase and Langella. subsequently, Lambiase further developed an Automated System based on Artificial Intelligence and particularly an integrated system including an inferential engine based on Genetic Algorithms a knowledge database based on an Artificial Neural Network trained by
11253-524: The overall dimension. Hot-rolled mild steel seems to have a wider tolerance for the level of included carbon than does cold-rolled steel, and is, therefore, more difficult for a blacksmith to use. Hot rolling is used mainly to produce sheet metal or simple cross-sections, such as rail tracks . Rolling mills are often divided into roughing, intermediate and finishing rolling cages. During shape rolling, an initial billet (round or square) with edge of diameter typically ranging between 100 and 140 mm
11374-431: The pension for older employees than for younger ones (an "age bias"). Defined benefit pensions tend to be less portable than defined contribution plans, even if the plan allows a lump sum cash benefit at termination. Most plans, however, pay their benefits as an annuity, so retirees do not bear the risk of low investment returns on contributions or of outliving their retirement income. The open-ended nature of these risks to
11495-545: The pension plan allows for early retirement, payments are often reduced to recognize that the retirees will receive the payouts for longer periods of time. In the United States, under the Employee Retirement Income Security Act of 1974 , any reduction factor less than or equal to the actuarial early retirement reduction factor is acceptable. Many DB plans include early retirement provisions to encourage employees to retire early, before
11616-408: The person's retirement from work. A pension may be: Pensions should not be confused with severance pay ; the former is usually paid in regular amounts for life after retirement, while the latter is typically paid as a fixed amount after involuntary termination of employment before retirement. The terms " retirement plan " and " superannuation " tend to refer to a pension granted upon retirement of
11737-410: The plan. Traditional defined benefit plan designs (because of their typically flat accrual rate and the decreasing time for interest discounting as people get closer to retirement age) tend to exhibit a J-shaped accrual pattern of benefits, where the present value of benefits grows quite slowly early in an employee's career and accelerates significantly in mid-career: in other words it costs more to fund
11858-445: The private sector in many countries. For example, the number of defined benefit plans in the U.S. has been steadily declining, as more and more employers see pension contributions as a large expense avoidable by disbanding the defined benefit plan and instead offering a defined contribution plan. Money contributed can either be from employee salary deferral or from employer contributions. The portability of defined contribution pensions
11979-627: The process is known as hot rolling . If the temperature of the metal is below its recrystallization temperature, the process is known as cold rolling . In terms of usage, hot rolling processes more tonnage than any other manufacturing process, and cold rolling processes the most tonnage out of all cold working processes. Roll stands holding pairs of rolls are grouped together into rolling mills that can quickly process metal, typically steel , into products such as structural steel ( I-beams , angle stock, channel stock), bar stock , and rails . Most steel mills have rolling mill divisions that convert
12100-515: The production capabilities of the mills, until this form of power was displaced by electric motors soon after 1900. Modern rolling practice can be attributed to the pioneering efforts of Henry Cort of Funtley Iron Mills, near Fareham in Hampshire , England. In 1783, a patent number was issued to Henry Cort for his use of grooved rolls for rolling iron bars. With this new design, mills were able to produce 15 times more output per day than with
12221-598: The provisions of the Tier I scheme, whereas Veronica, hired in August 1995, would be permitted to retire at age 60 with full benefits and Jessica, hired in December 2014, would not be able to retire with full benefits until she became 65. In an unfunded defined benefit pension, no assets are set aside and the benefits are paid for by the employer or other pension sponsor as and when they are paid. Pension arrangements provided by
12342-569: The public sector (which has open-ended support from taxpayers). This coupled with a lack of foresight on the employers part means a large proportion of the workforce are kept in the dark over future investment schemes. Defined benefit plans are sometimes criticized as being paternalistic as they enable employers or plan trustees to make decisions about the type of benefits and family structures and lifestyles of their employees. However they are typically more valuable than defined contribution plans in most circumstances and for most employees (mainly because
12463-399: The purchasing power of the pension; the higher the inflation rate, the lower the purchasing power of a fixed annual pension. This effect can be mitigated by providing annual increases to the pension at the rate of inflation (usually capped, for instance at 5% in any given year). This method is advantageous for the employee since it stabilizes the purchasing power of pensions to some extent. If
12584-706: The recrystallization temperature. To maintain a safety factor a finishing temperature is defined above the recrystallization temperature; this is usually 50 to 100 °C (122 to 212 °F) above the recrystallization temperature. If the temperature does drop below this temperature the material must be re-heated prior to additional hot rolling. Hot-rolled metals generally have little directionality in their mechanical properties or deformation-induced residual stresses . However, in certain instances non-metallic inclusions will impart some directionality and workpieces less than 20 mm (0.79 in) thick often have some directional properties. Non-uniform cooling will induce
12705-404: The risk of market fluctuations that could reduce their retirement savings. However, defined contribution plans provide more flexibility for employees, who can choose how much to contribute and how to invest their funds. Hybrid plans, such as cash balance and pension equity plans, combine features of both defined benefit and defined contribution plans. These plans have become increasingly popular in
12826-428: The roll diameters range from 60 to 140 cm (24 to 55 in). To minimize the roll diameter a four-high or cluster mill is used. A small roll diameter is advantageous because less roll is in contact with the material, which results in a lower force and power requirement. The problem with a small roll is a reduction of stiffness, which is overcome using backup rolls . These backup rolls are larger and contact
12947-488: The rolling occurs the wall thickness decreases as the diameter increases. The rolls may be shaped to form various cross-sectional shapes. The resulting grain structure is circumferential, which gives better mechanical properties. Diameters can be as large as 8 m (26 ft) and face heights as tall as 2 m (79 in). Common applications include railway tyres, bearings , gears , rockets , turbines , airplanes , pipes , and pressure vessels . Controlled rolling
13068-413: The rolls and the uneven geometrical properties of the entry material. The transverse distribution of differential strain/elongation-induced stress with respect to the material's average applied stress is commonly referenced to as shape. Due to the strict relationship between shape and flatness, these terms can be used in an interchangeable manner. In the case of metal strips and sheets, the flatness reflects
13189-399: The rolls are heated to assist in the workability of the metal. Lubrication is often used to keep the workpiece from sticking to the rolls. To fine-tune the process, the speed of the rolls and the temperature of the rollers are adjusted. For thin sheet metal with a thickness less than 200 μm (0.0079 in), the rolling is done in a cluster mill because the small thickness requires
13310-427: The same products that are hot rolled. Because of the smaller size of the workpieces and their greater strength, as compared to hot rolled stock, four-high or cluster mills are used. Cold rolling cannot reduce the thickness of a workpiece as much as hot rolling in a single pass. Cold-rolled sheets and strips come in various conditions: full-hard , half-hard , quarter-hard , and skin-rolled . Full-hard rolling reduces
13431-439: The selection of investment options and administrative providers. In the United States, the legal definition of a defined contribution plan is a plan providing for an individual account for each participant, and for benefits based solely on the amount contributed to the account, plus or minus income, gains, expenses and losses allocated to the account (see 26 U.S.C. § 414(i) ). Examples of defined contribution plans in
13552-476: The slab caster for the world's thickest slabs in 1998, and the world's largest plate-edge miller, in 2005. Dillinger Hütte workers have traditionally been dubbed "Hüttenbären", or "steel mill bears" in the local region. This led to the company's day-center for employees' children being christened "Kleine Hüttenbären", or the "steel mill cubs", at its opening in 2007. Karlheinz Blessing was CEO from 2011 to 2015. Rolling mill In metalworking , rolling
13673-473: The sponsor/employer, and these risks may be substantial. In addition, participants do not necessarily purchase annuities with their savings upon retirement, and bear the risk of outliving their assets. (In the United Kingdom, for instance, it is a legal requirement to use the bulk of the fund to purchase an annuity.) The "cost" of a defined contribution plan is readily calculated, but the benefit from
13794-443: The state in most countries in the world are unfunded, with benefits paid directly from current workers' contributions and taxes. This method of financing is known as pay-as-you-go , or PAYGO . The social security systems of many European countries are unfunded, having benefits paid directly out of current taxes and social security contributions, although several countries have hybrid systems which are partially funded. Spain set up
13915-402: The state which may rank no higher than the state's promise to pay future pensions. Occupational pensions are typically provided through employment agreements between workers and employers, and their financing structure must meet legislative requirements. In common-law jurisdictions, the law requires that pensions be pre-funded in trusts, with a range of requirements to ensure the trustees act in
14036-415: The stock market, and the returns on the investment (which may be positive or negative) are credited to the individual's account. On retirement, the member's account is used to provide retirement benefits, sometimes through the purchase of an annuity which then provides a regular income. Defined contribution plans have become widespread all over the world in recent years, and are now the dominant form of plan in
14157-412: The surface and thereby reduces the possibility of formation of Lüders bands. To avoid the formation of Lüders bands it is necessary to create substantial density of unpinned dislocations in ferrite matrix. It is also used to break up the spangles in galvanized steel. Skin-rolled stock is usually used in subsequent cold-working processes where good ductility is required. Other shapes can be cold-rolled if
14278-432: The temperature of the workpiece is not uniform the flow of the material will occur more in the warmer parts and less in the cooler. If the temperature difference is great enough cracking and tearing can occur. The cooler sections are, among other things, a result of the supports in the re-heat furnace. When cold rolling, virtually all of the strip thickness variation is the result of the eccentricity and out-of-roundness of
14399-490: The thickness by 50%, while the others involve less of a reduction. Cold rolled steel is then annealed to induce ductility in the cold rolled steel which is simply known as a Cold Rolled and Close Annealed . Skin-rolling, also known as a skin-pass , involves the least amount of reduction: 0.5–1%. It is used to produce a smooth surface, a uniform thickness, and reduce the yield point phenomenon (by preventing Lüders bands from forming in later processing). It locks dislocations at
14520-558: The total distribution of occupational pensions around the world. It will be noted that four of the largest economies (Germany, France, Italy and Spain) have very little in the way of pension assets. Nevertheless, in terms of typical net income replacement in retirement, these countries rank well relative to those with pension assets. These and other countries represent a fundamentally different approach to pension provision, often referred to as "intergenerational solidarity". Intergenerational solidarity operates to an extent in any country with
14641-491: Was adapted to producing hoops (for barrels) and iron with a half-round or other sections by means that were the subject of two patents of c. 1679. Some of the earliest literature on rolling mills can be traced back to the Swedish engineer Christopher Polhem in his Patriotista Testamente of 1761, where he mentions rolling mills for both plate and bar iron. He also explains how rolling mills can save on time and labor because
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