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May 20th, 2008
- Projects
Mumbai India - Usha Martin to become global leader in wire ropes
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| Usha Martin Ltd (UML), specialty steel manufacturer and world~{!/~}s second largest wire rope manufacturer, is undertaking expansion projects worth Rs 21 bn that would make it the largest wire rope manufacturer.
The company reported a net sale of Rs 6.7 bn in fourth quarter of 2007-08, a year on year growth of 35 percent thanks to buoyancy in realization although operating margins declined to 18.2 percent, according to PINC Research. UML has an integrated business model with captive iron ore for manufacturing metallics (sponge iron and pig iron). This is converted to steel, which then becomes a feedstock for its value added products like wire ropes. Its current pig iron and sponge iron capacity is 200,000 tpa and 110,000 tpa with billet/bloom capacity of 400,000 tpa. UML is undertaking a Rs 21 bn capacity expansion in a phased manner that is expected to drive volumes for the company.
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May 20th, 2008
- Mergers
Kolkata India - Ramsarup sees huge savings following Manish Basu merger
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| Ramsarup Industries Ltd, the second largest steel wire manufacturer in the country after Tata Steel, is looking at saving an estimated Rs 275 crore a year in raw material costs after merging its group company Lohh Udyog with itself, the company~{!/~}s CFO, Naveen Gupta, told Business Line. Lohh Udyog, which is slated to start producing 6.91 lakh tonnes of steel billets annually at its Kharagpur plant from April 2009, will fully meet Ramsarup Industries~{!/~} steel wire requirement at its Durgapur and Kalyani steel wire-manufacturing units, he said.
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May 20th, 2008
- General
Ottawa Ontario Canada - Canada starts investigation on stainless steel wire products
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| Canada Border Services Agency has initiated a re investigation of the normal values and export prices of certain stainless steel wire originating in or exported from the South Korea, Switzerland and US and the amounts of subsidy of certain stainless steel wire originating in or exported from India.
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May 20th, 2008
- Personnel
Haaksbergen, The Netherlands - Mr E.D.H. de Lange appointed member of the Executive Board and CFO of TKH
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| The Supervisory Board informed the General Meeting of Shareholders of the appointment of Mr E.D.H. de Lange as a member of the Executive Board and CFO of TKH as per 7 May 2008. Mr De Lange has succeeded Mr J.E. Vaandrager, who has stepped down from the Executive Board because of reaching retirement age. The Supervisory Board expressed their appreciation for the important contribution Mr Vaandrager has made to the development of the TKH-group.
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May 19th, 2008
- General
Brantford Ontario - Due to the Victoria Weekend there will be no Wirenews Bulletin Monday May 19
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May 17th, 2008
- General
Port of Spain Trinidad - Operator crushed in wire compactor
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| Arcelor Mittal shut down its Trinidad operation yesterday, to allow workers to attend the funeral of Anil Bickramdass, who was killed on the job Tuesday. Men in hard hats and steel-tipped boots carried roses and cried openly for Bickramdass, who was one of the most beloved employees at the company. Bickramdass, 38, was crushed in a steel wire, compactor while working to fix the equipment. The death sparked protest by members of the Steel Workers Union of Trinidad and Tobago (SWUTT), who have demanded that the Labour Ministry and Occupational Health and Safety Agency conduct an audit of the company's operations.
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May 17th, 2008
- General
Syracuse New York - Falling dollar causes wire prices to rise
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| Midstate Spring has made coiled wire forms and precision springs here for nearly seven decades, and it makes them mostly for U.S.-based buyers. But the soaring price it pays for steel and copper wire is set by global supply and demand trends, and that's put Midstate in a world of hurt. The prices of some of general manager John Kirby's wire suppliers have risen 60 percent this year. When he tried recently to pass some of these costs along, a lawnmower maker who buys Midstate's springs complained that the steel it purchases for its own manufacturing will rise by at least 70 percent this year. Kirby grabbed paperwork to show how one supplier of "hard drawn" wire made from carbon steel wants a 25-percent price increase over the prior month.
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May 17th, 2008
- General
Bridgeville Pennsylvania - Universal Stainless announces base price increases.
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| Universal Stainless & Alloy Products, Inc. announced Friday base price increases of 3% to 5% on all stainless and high-strength low alloy grade products manufactured at its Bridgeville and Dunkirk facilities. The increase will be effective with all new orders entered on June 1, 2008. Current material and energy surcharges will remain in effect.
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May 17th, 2008
- General
Kiev Ukraine - European jobs move east driven by a reservoir of cheap labor
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| W.E.T. Auto Systems, a German car parts maker, mothballed its Hungarian factory and moved production to a new plant in western Ukraine. The company makes no bones about why "Hungary became too expensive," says Mr. Dieter Haap, the company’s chief financial officer. "The Hungarian production costs were seven times higher than Ukraine. We have very labour-intensive production, and as auto suppliers we are under very severe cost pressures." Thist is the logic driving many companies to locate in western Ukraine, where the border to the European Union is close and the labor costs are a fraction of those even in new EU member states such as Poland and Slovakia, which until recently had been seen as the cheap labor reservoir for the rest of the union.
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May 16th, 2008
- Reports
Milan Italy - Prysmian upbeat about 2008
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| Italian cable maker Prysmian SpA forecasted on Wednesday higher results for the year thanks to a strong order book, saying demand for its high-voltage and underwater cables was particularly strong."Operating profitability is expected to improve in 2008 and, in particular, adjusted EBITDA, is expected above 2007," the company said in a statement. Although declining to be specific about the overall figure, Prysmian's chief financial officer told a conference call on the company's higher first-quarter results that he expected double-digit sales growth in its business of supplying these kinds of cables. "It could be similar to what we saw in the first quarter," Pier Francesco Facchini told analysts on the call. First-quarter sales of such products grew 11.3 percent, excluding the effect of fluctuating foreign exchange rates and raw material prices. The sales come from a number of big projects around the world that involve laying cables for the transmission of power. They include work in San Francisco and the island of Majorca off the coast of Spain.
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May 16th, 2008
- Press Releases
Mumbai India - Aksh Optifibre to consider splitting manufacturing and services operations
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| Optic fiber cable maker and broadband services firm Aksh Optifibre Ltd will consider separating its manufacturing and services operations into two entities, its chief financial officer said on Tuesday. "This is still in the nascent stages. The company is discussing about hiving off manufacturing and services into two separate companies," Satyendra Gupta told Reuters. The plan was still at a preliminary stage and was yet to be discussed at the board level, he added. The board is expected to take a decision within a month. The idea behind the proposed split was to have two independently focused companies and to unlock value for shareholders and allow investors to make a choice between manufacturing and services. The company's growth had led to two businesses which were diverse in nature, Gupta said.
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May 16th, 2008
- Reports
Kolkata India - Usha Martin Jan-March net rises 29 percent.
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| Steel wire rope maker Usha Martin on Tuesday posted a 29 percent rise in net profit in January to March quarter on higher sales of value-added products, a top official said. The firm posted a net profit of 505.3 million rupees on net sales of 6.72 billion rupees in the quarter to March 31."Demand for value-added specialty steel products helped us grow," Managing Director Rajeev Jhawar said.The firm is doubling specialty steel making capacity to 700,000 tonnes in FY09, and has plans to make 1 million tonnes of the product by FY10, he said. "We will add value to 55 percent of the steel we make." Usha Martin expects to maintain operating margins above 20 percent in 2008/09 even if steel prices remain at current levels, Jhawar said.
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May 16th, 2008
- General
Stafford, Texas - Frost & Sullivan Recognizes KOBELCO
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| Based on its recent analysis of the North American filler metals market, Frost & Sullivan recognizes Kobelco Welding of America Inc. (KOBELCO) with the 2008 North American Frost & Sullivan Product Line Leadership of the Year Award for its pioneering solutions in the stainless steel flux cored wires domain. A Voice of Customer analysis by Frost and Sullivan showed that various end-users placed KOBELCO as a ´bench mark´ product in the stainless steel flux cored wires when compared to competitors. In spite of heavy competition, KOBELCO has sustained market leadership in stainless steel tubular wire with a market share of approximately 39.5 percent, in 2007. KOBELCO has achieved leading market share in a relatively shorter span, due to its focus on the stainless steel tubular wire products.
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May 15th, 2008
- Reports
Copenhagen Denmark - NKT Cables Group experience 4% organic growth in 1st Quarter of 2008
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| NKT Cables realized 1st quarter revenue of 1,856 million DKK. Compared with 1st quarter 2007 this was a nominal increase of 11% and organic growth of 4%. The organic growth was driven by the primary product segment, power cables, which represented around 80% of the revenue for the three-month period. Realized growth in sales was around 4%, which covered both low, medium and high voltage cables. The development reflected continued high levels of grid maintenance and expansion activity in the electricity sector. The building and construction sector experienced a decrease in New building in Northern Europe (primarily Denmark) that was partly offset, however, by growth in activities in other areas of the building industry. However, some markets - particularly in Western Europe - are showing the first signs of a more normalized level of activity, which is intensifying the competitive situation in other markets, such as Eastern Europe, due to competitors seeking alternative sales outlets.
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May 15th, 2008
- General
Calcutta, India - Usha Martin to seek export duty relief
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| Wire rope manufacturer Usha Martin Ltd plans to seek duty relief on exports to subsidiary companies. The company exports 30,000 tonnes of wire rod to its subsidiary in Thailand, Usha Siam Steel Industries Public Company Ltd, where the rods are converted to wire and wire ropes. The export will now attract a 10 per cent duty, which is likely to impact the margins of the Thai company. The Center has decided to impose export duty on steel and steel products despite the promises made by leading steel companies to reduce domestic rates by Rs 4,000 a tonne. "We are hopeful that the government will reconsider the export duty issue. In case nothing changes, we will plead exemption of duty on sale to subsidiary companies," Rajeev Jhawar, managing director of Usha Martin, said.
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May 15th, 2008
- General
Xuyi Jiangsu China - China Jiangsu Golden Horse Steel Ball comments on the ball bearing industry
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| China Jiangsu Golden Horse Steel Ball, Inc. a leading Chinese manufacturer and supplier of ball bearings, is pleased with the direction of the Ball Bearing Industry. The ball bearing industry is maturing in China, with the fast development of China's bearing industry, the supply and demand, both locally and globally, has risen exponentially. At present, China Jiangsu can produce ball bearings in various different compounds of any specification for all applications in different industries.
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May 15th, 2008
- Reports
Dalian China - Fushi Copperweld net income up 51% in 1st Quarter 2008
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| Fushi Copperweld, Inc. a leading global manufacturer of bimetallic wire used in a variety of telecommunication, utility, automotive, power transmission and other electrical products, today announced financial results for the first quarter of 2008. Revenues for the first quarter of 2008 increased 155% to $54 million, from $21.1 million in the prior year's quarter. Organic revenues in the quarter from the Dalian facility totaled approximately $36 million, an increase of 70% over the prior year's first quarter. Revenues in the quarter were driven not only by the Copperweld contribution, but also by a higher sales volume, and sales from copper-clad steel, which is incremental to revenue. Overall, telecommunication applications accounted for approximately 63% of sales and utility applications for about 24% of sales.
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May 14th, 2008
- Press Releases
Bethersden,Kent , U.K. - PWM appoints new US distributor
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 British company Pressure Welding Machines (PWM), world-leading manufacturer of cold pressure welding equipment and dies, has announced the appointment of Amaral Automation Associates of Cumberland, RI as its exclusive distributor for the United States and Canada.
Steve Mepsted, managing and sales director of PWM said: “Amaral Automation Associates has over 20 years of proven wire and cable experience and has the product and customer knowledge we are looking for in order to continue to expand our share of these very important markets”.
Since 1984, Rick Amaral, founder of Amaral Automation Associates, has supplied the wire and cable industry with top quality products from the best manufacturers in the wire and cable field. Over the years, the company has established a solid reputation for providing complete solutions to manufacturing and production issues and outstanding customer service.
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May 14th, 2008
- Projects
Dharamshala India - SAIL to set up eco-friendly plant in Kangra district.
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| The Steel Authority of India Limited (SAIL), is to set up a steel processing unit in Kangra district. The steel processing unit would be the first of its kind in north India by SAIL. Work to set up the plant would start next month and it would be completed without any delay. The plant would be eco-friendly as it would be a zero-discharge plant. According to sources, the plant would be based on SAIL’s patented technology known as thermo mechanical treatment (TMT). The plant, which would be set up at a cost of little over Rs 100 crore, would be completed within this year. As soon as the plant starts functioning, as many as 200 people would get direct employment opportunities. Apart from TMT steel rods, wire drawings and corrugated sheets would be manufactured in the plant. Asit Sahu, manager (civil) of SAIL, Durgapur, said the new plant would cater to the needs of the industries set up in Himachal Pradesh and around it. “Ours will be first of its kind project in north India and would be a zero-discharge one and would not create any air or water pollution,’’ said Sahu. He made it clear that all top appointments would be made as per the norms of the Steel Authority
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May 14th, 2008
- General
Medway Kent U.K. - Public fear Arcelor Mittal Kent Wire secret plans.
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| A BBC report Tuesday said that residents near the Kent port of Chatham are concerned about Arcelor Mittal Kent Wire plans to store 2,500 tonnes of a farm fertiliser which can be used to make bombs. Arcelor Mittal Kent Wire has asked Medway Council for permission to store ammonium nitrate at Chatham docks. The site is near homes, a shopping centre and the police headquarters. An official hazardous substance consent application was registered in April and notice was published in a local newspaper on 15 February. The company has refused to comment on the application, which may have been a mistake. Whatever plans Kent Wire has it is unlikely to involve manufacture of explosives or distribution of fertilizers. Ammonium Nitrate Solutions can be used as an Accelerator in Steel surface Oxidation. Professor Yu. I. Kuznetsov Email: kuznetsov@ips.rssi.ru at the Institute of Physical Chemistry, Russian Academy of Sciences, Moscow has studied the effect of adding the amide-type URMP-4 accelerator for growth of a magnetite coatings (Fe3O4) using a 2.5% ammonium nitrate (NH4NO3) to improve corrosion resistance through surface oxidation of low-carbon steel. Corrosion and electrochemical data indicate that URMP-4, unlike other accelerators, not only increases the thickness of an Magnetite coating (MC) but also enhances its protective properties. Subsequent passivasion of such a coating reduces corrosion losses six to seven times. A two-step process of the MC formation is proposed. At the first step, URMP-4 inhibits steel dissolution by facilitating the electrochemical formation of magnetite at steel by the reaction 3Fe + 4H2O = Fe3O4 + 8H+ + 8e. At the second step, an MC grows thicker according to the deposition mechanism. The editor suggests there are many uses in wire processing in which ammonium nitrate can be used. Production of corrosion resistant rebar could be one.
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May 14th, 2008
- General
Mumbai India - Ramsarup to earn 690 million rupees through carbon credits
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| Ramsarup Industries Ltd RASW.BO will earn 690 million rupees over 7 years by selling carbon credits from its power plant, the steel wire maker said in a statement on Monday. The plant will generate up to 20 megawatt power per hour using waste gas, which will help in reducing dependence on the power grid, and reduce carbon dioxide emission by 114,996 tonnes every year, it said in a press release. It would also save substantially on energy costs, it said. The company will earn one carbon credit for reduction in each tonne of carbon dioxide. The company, which has set up waste-heat recovery plants at its Kharagpur unit, has contracted about 35 percent of the total carbon credit at 11.75 euros, Ashish Jhunjhunwala, managing director said. Credits for December 2008 delivery were trading at 25.5 euros each, on the European Climate Exchange.
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May 13th, 2008
- Projects
Beijing China - China plans Tibet power line to boost economy
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| China plans to build a power transmission line from northwestern Qinghai province to the troubled province of Tibet in a bid to boost the region's economy, state media said yesterday. The 1,100-kilometre (680-mile) line would take electricity from Golmud in Qinghai to Lhasa, the capital of Tibet, on the same route as the recently-opened railway, officials told the Xinhua news agency. The power line has a first-stage target of transmitting 6.5 billion kilowatt-hours annually, and is expected to be in operation by 2010, said officials at the National Development and Reform Commission. Xue Gengxin, vice president of the Xibei Electric Power Design Institute, said that the electricity line would be the world's first above 5,000 metres in altitude, and that special permafrost research was being carried out. Beijing recently held informal talks with exiled Tibetan envoys, a move seen as a political response to global protests over China's crackdown on unrest in the province that angered Beijing leaders ahead of the Olympics in August. The Tibetan government-in-exile says 203 Tibetans have been killed and about 1,000 injured in the Chinese crackdown. China denies this, saying Tibetan "rioters" and "insurgents" killed 21 people. Beijing authorities often stress the economic advantages of the Qinghai-Tibet trainline -- the highest in the world for Tibet province, which has recently received massive Chinese investment.
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May 13th, 2008
- Market Stats
Shanghai China - Chinese domestic wire rod prices starts to stabilize
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| Chinese domestic steel market prices are still on the rise with exception of rebar and wire rod. On Shanghai market, HRB335 20mm rebar with exemption from inspection was being offered at CNY 5340 per tonne to CNY 5350 per tonne while those common products were only tagged at CNY 5220 per tonne to CNY 5240 per tonne down by CNY 150 per tonne from peak levels. Export offer for rebar were at about USD 950 per tonne to USD 960 per tonne on FOB levels and that for wire rod at USD 970 per tonne to USD 980 per tonne on FOB levels. But transactions were concluded at USD 920 per tonne for vanadium based rebars and USD 940 per tonne for wire rods. Tonnages have seen evident rebound and most shipments go to Asia and Middle East area. The first five destinations for rebar in March are South Korea, Hong Kong, Singapore, Angola and Cambodia. Those for wire rod are Vietnam, South Korea, Thailand, Taiwan and Philippines. Export volume is expected to see further rise for April shipment, but it also would raise the risk of another increase in export tariff by Beijing and more trade friction.
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May 13th, 2008
- Acquisitions
Milwaukee Wisconsin - Emteq buys Cable Technologies of Montana
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| Emteq Inc., a New Berlin producer of lighting and wiring systems for the aviation industry, has purchased Cable Technologies of Montana Inc. for an undisclosed amount. Cable Technologies, Great Falls, Mont., is a designer and manufacturer of wire and cable-related assemblies. The deal "significantly" expands Emteq's product and service offerings to the military market, Emteq said in a press release. Emteq specializes in avionics systems, interior lighting and exterior lighting products for applications in the military, corporate, VIP, helicopter and air transport market. The transaction closed May 9, Emteq said.
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May 13th, 2008
- Projects
Irvine California - CTC Cable expands composite core production capacity
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| Composite Technology Corporation (CTC) is pleased to announce its subsidiary, CTC Cable Corporation, has expanded its composite ACCC* core production capacity to meet increasing demand for ACCC conductors. The Irvine, California, facility has completed an expansion of its core manufacturing area with the addition of over 9,200 square feet of processing space. CTC Cable is now placing the pultrusion production lines in the area, which upon full population of the floor will expand the production capacity of the facility for ACCC core by over 250%, from its current capacity of 5,200 kilometers per year to over 18,000 kilometers per year. CTC Cable manufactures its own custom pultrusion machines in a separate area of the Irvine facility and plans to place 10 machines in the new production area during the next 3 months. "Over the last year it became increasingly evident we needed to add capacity. This expansion will be a great benefit to CTC Cable and our customers, since we will be able to shorten production times and take advantage of market opportunities," stated Marv Sepe, COO of CTC and President of CTC Cable.
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