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November 7th, 2009
- Product Releases
Houston, TX, U.S.A. - Cable longevity and reliability at very low lifetime system cost with The Power of Dow Inside
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| Long-lasting and reliable power cables that can help provide years of uninterrupted service, no matter what energy resource, are the lifeblood of utilities globally. Dow Wire & Cable, a business unit of The Dow Chemical Company, is excited to introduce the DOW ENDURANCE™ family of semiconductive and insulation materials for medium voltage (MV), high voltage (HV) and extra-high voltage (EHV) cable constructions that are made to last for decades of service.
“Providing a cable that delivers longevity and reliability is essential in today’s global energy landscape,” says Tim Laughlin, General Manager, Dow Wire & Cable. “When it’s your job to keep the power on, we feel that the best way to obtain that is to specify cables made according to high quality standards with branded materials from supplier and cable manufacturer sources you can trust.”
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November 7th, 2009
- General
London U.K. - MEPS forecast global steel prices to fall in December
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| US transaction values for some products are a little higher than a month ago. However, the last round of proposals for higher prices do not appear to have been implemented, so far. Although October/November mill bookings are good for the available capacity, December is filling up very slowly. The steelmakers may start to offer discounts in order to solicit business before the year end, despite a lack of any real import competition. Distributors report that their sales have slowed dramatically in October, reflecting the poor state of consumption in most end-user sectors
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November 7th, 2009
- General
Paris France - Nexans win 50 million Euro contract for the Lincs wind farm project.
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| Nexans, a worldwide leader in the cable industry, has been awarded a 50 million Euro contract by Centrica to design, manufacture and supply the high voltage (HV) subsea power export cables for the Lincs wind farm project. The new wind farm is being constructed eight kilometres off the coast of England, to the east of Skegness in the county of Lincolnshire. The Lincs power export cable contract comprises the design, manufacture and supply of two 145 kV XLPE subsea power cables to be laid in parallel, each 50 km in length, that will connect the wind farm to the existing National Grid substation at Walpole, North Norfolk.
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November 7th, 2009
- General
Hamilton Ontario - U.S. Steel recalls 63 workers.
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| It sounds like good news but the Stelco Union sees the move as a bid to bypass severance payments for its Nanticoke employees. Labor relations have historically been bad at Stelco, a company that grew fat and complacent behind a tariff wall and where the Union resorted to extortion tactics to achieve contracts that were the envy of Canadian workers. Anyone that is familiar with steel making would agree the workers were worth every penny they made. The problem was not labor cost as nearby Dofasco paid the same salary and benefits. What made the wheels fall off the cart was the “them versus us” attitude between management and labor. As profit dwindled Stelco piled on debt. The Ontario government stepped in and bailed the bankers out. U.S. Steel saw an opportunity to acquire Stelco’s Lake Erie plant, one of North Americas most modern flat steel facilities built to supply the auto industry. Now US Steel are stuck with a plant they need like a hole in the head, legislation that calls for a costly severance package, and a Canadian government that expects US Steel to live up to its contractual obligation to keep the plant operating. The Hamilton spectator had an article this week that we would like to highlight.
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November 6th, 2009
- Acquisitions
Leeds U.K. - KTS Wire buys rival in £3.1m deal
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 A Yorkshire steel wire manufacturer has further boosted its business by acquiring one of its competitors. Morley-based KTS Wire received a cash injection of £3.1m to acquire Cheshire baling and steel wire producer John Pring & Son from administrators. The deal was funded by specialist Leeds-based turnaround and private equity house Frontline Investment Opportunities while the Leeds office of asset-based lender Davenham provided working capital funding.
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November 6th, 2009
- General
Brantford Ontario - Speculators about to get burnt as copper inventory builds
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| Concerns about the state of global demand for copper continue to persist, with worries about rising copper stocks and a fall in US consumer confidence underlining these fears. Global consumption for the red metal slipped 1.3 per cent in the first seven months of 2009 as compared to the corresponding period last year, the International Copper Study Group reported. The index of consumer confidence was recorded at 47.7 in October this year from 53.4 last month, the Conference Board, a business-backed research group, reported. Copper prices have more than doubled in 2009 on speculation that reviving economic growth will spur consumption. But as in the case of other metals, hopes are riding high on China which had surprised markets (with its 5th heaviest copper imports in September).
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November 6th, 2009
- General
Milan Italy - New Zealand's antitrust body questions submarine cable market practices
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| Italian cable maker Prysmian SpA said New Zealand's antitrust body had started an investigation to assess commercial practices in the submarine or underground high-voltage cable market. Prysmian, which operates in 38 countries, did not elaborate in the statement.On February 2, 2009, Prysmian said in a press release that the Australian antitrust authority commenced a legal proceeding aimed at assessing commercial practices in the submarine or underground high voltage cable market.
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November 6th, 2009
- General
Milan Italy - Valerio Battista, Ceo of the Prysmian Group, elected President of International Cablemakers Federation (ICF)
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| Valerio Battista, 52, CEO of the Prysmian Group, has been elected President of International Cablemakers Federation (ICF), the worldwide association of manufacturers of cables and systems for energy, data and telecommunications. The election took place at the Annual ICF Congress in Moscow (October 6th-9th).
ICF was founded in 1990 with a permanent Secretariat in Vienna. Currently it has more than 100 members from 30 countries from regions all over the globe. Among the organisation’s main objectives are: the promotion of the use of cables in all sectors of application, the promotion of energy savings and increased safety, as well as the publishing of analysis and research regarding the industry. This year the ICF Congress covers some of the major strategic topics for the industry, from an insight into the Russian wire and cable market, to specific themes such as “Intelligent Energy Networks”, the impact and opportunities of environmental trends on the industry, worldwide trade agreements and developments in raw materials. High-ranking local and international speakers are presenting the various topics. The Congress was opened by a keynote speech of Igor Ivanov, former Foreign Minister of the Russian Federation.
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November 5th, 2009
- General
Baghdad Iraq - Much work remains to be done in the development of Iraq’s telecommunications infrastructure
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| The telecommunications sector in Iraq is widely considered to be a reconstruction success and a foundation of national stability. Today, a variety of services are available to every Iraqi citizen. While more than 10 million Iraqis have access to mobile phone services and Internet access provided by small private entrepreneurs is available throughout the country, the basic telecommunications infrastructure is still being repaired and rebuilt. Buried fiber optic infrastructure is being slowly but steadily extended throughout Iraq. Long-term plans for long-haul infrastructure envision a redundant series of large interconnected metropolitan ring networks covering the seven largest population centers in Iraq. These are being overlaid with three donor-funded microwave networks from the Turkish border to Basra and the Kuwaiti border in the south. Core infrastructure investment throughout Iraq remains uneven and focused in major cities.
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November 5th, 2009
- General
Beijing China - Chinese steel mills rebound stalls on overcapacity created by the nation CNY 4 trillion stimulus spending.
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| Baoshan Iron & Steel Co and Angang Steel Co are both posting the best quarterly profits in at least a year but are now facing slower growth as oversupply in the world largest steel producing nation put pressure on prices. Baoshan China’s largest mill said demand is easing amid rising pressure from overcapacity. Angang Steel Co said on October 27th that earnings this quarter will be less than net income in the past three months. Benchmark Chinese steel prices have fallen 21% from a 10 month high on August 4th as production overwhelmed demand fueled by the nation CNY 4 trillion stimulus spending. Steel output in China reached highs in four months this year spurring record imports of iron ore from producers such as Rio Tinto Group and Vale SA.
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November 5th, 2009
- General
Washington D.C. - U.S. Manufacturing sector shows some spotty signs of recovery
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| U.S. economic figures out earlier this week showed factories are revving up production and gearing up to start hiring again. In a surprise sign of strength, the U.S. manufacturing sector grew in October at its fastest pace since April 2006, says the Institute for Supply Management. The ISM’s gauge of manufacturing activity jumped to 55.7 from 52.6 in September, the third consecutive monthly reading above 50, the line that divides expansion from retrenchment. Also unexpectedly, hiring plans in the beleaguered sector turned positive for the first time in more than a year. The output boost comes after U.S. retailers, wholesalers and factories cut inventories at a record pace in the first half of the year. They’ve seen their stockpiles depleted further still as U.S. consumers have started opening up their wallets again.
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November 5th, 2009
- Projects
Linz Austria - Zenith Steel expands rod mill capacity and product range with two new rod finishing lines.
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| Zenith Steel (Changzhou Zhongtian Iron & Steel) in Changzhou, Jiangsu Province, People’s Republic of China, has signed multiple contracts for two rod mills for the company’s new rod mills that will be located in Changzhou. The contracts are valued at more than €10 million. After the new equipment’s installation, the mills for this privately-owned, midsized steelmaker will produce up to 150 tons per hour on each line. Each rod outlet will have the capability to produce plain rod (5.5mm to 20mm) and rebar (6mm to 16mm) products, which include carbon steels, cold heading steel, spring steel, welding wire, bearing steel, tire cord and PC strand steel grades.
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November 4th, 2009
- Projects
Mumbai India - KEC to invest 1 bln rupees in new cable plant.
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| Power transmission contractor KEC International, which approved merging RPG Cables with itself on Friday, plans to invest 1 billion rupees in 3 years to set up a new cable plant, a senior official said. The merger will lead to backward integration, wherein KEC will be able to consume the entire output of RPG Cables, Ramesh Chandak, KEC's managing director and chief executive officer, said at a press conference. "Merger will help in operational synergies and help us grow project management businesses," he said. RPG shareholders will get 1 share of KEC for every 20 held following the merger, which is expected to take effect from March 1, 2010. Merger would raise equity base of the company by 4.2 percent to 514.2 million rupees, reducing founders' share to 41.59 percent from 41.94 percent. KEC, which currently consumes cables products for project management businesses like distribution, telecom and railways, also wants to double RPG Cables current turnover that stood at 4 billion rupees, Chandak said. RPG Cables, with current accumulated losses of 1.5 billion rupees, has three plants in India. KEC's current year capex is 750 million rupees, he said. The capital expenditure, to be funded through a mix of internal accruals and debt, would go into project equipment, a tower-testing station and machinery in existing plants.
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November 4th, 2009
- Mergers
Tulsa Oklahoma - Reel-O-Matic and Tulsa Power Merge
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| Two leading U.S. manufacturers of reel handling equipment for processing and distributing cable, wire and other flexible materials have merged. Tulsa Power Holdings Corp and Reel-O-Matic Inc. will maintain manufacturing facilities in Oklahoma City and Tulsa, Oklahoma respectively. All key personnel will remain the same at each location, with Terry Simmons as president of Reel-O-Matic, and Mike Spence as CEO of Tulsa Power.
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November 4th, 2009
- General
Milwaukee Wisconsin - Charter Wire makes its move to new 160,000-square-foot facility.
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 Charter Wire, has nearly completed its move to the Menomonee Valley where it has a new 160,000-square-foot facility. The 73-year-old maker of steel products expects to be completely out of its old location, near Maier Festival Park, by December. Charter Wire's new location, in the Menomonee Valley Industrial Center, is a much easier place for a manufacturer to receive and send shipments of raw materials and finished products. "The whole area has been rejuvenated from the barren wasteland that was there for many years," said Tim Knepprath, project manager for MSI General Corp., the Oconomowoc contractor that designed and built Charter's new facility. Charter Wire is a division of Mequon-based Charter Manufacturing, which operates Wisconsin's only steel mill, in Saukville. The company has finished about two-thirds of its move from the Third Ward, where it operated a plant for more than 70 years. The new building, slightly smaller than the old one, is a more efficient workplace. As the company expanded, it had to make creative use of its space and design equipment to work around columns and corners.
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November 4th, 2009
- General
Hong Kong - RUSAL in 1.68 million tonne China aluminium supply deal
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| The world's top aluminium producer, Russia's UC RUSAL, has struck a contract to sell 1.68 million tonnes to Chinese state defence firm NORINCO in 2010-2016, the Russian firm said on Monday. A source at the Chinese firm, officially known as China North Industries Corporation (NORINCO), said the deal meant RUSAL would supply 20,000 tonnes of aluminium a month to Shanghai for sale on the spot market. He said pricing had yet to be finalised, although RUSAL denied this. "RUSAL and Norinco have agreed the price and all other terms and conditions of the aluminium delivery," the Russian firm said in a statement emailed to Reuters. RUSAL is urgently trying to reach agreement with foreign creditors on $7.3 billion of debt by mid-November to pave the way for a Hong Kong share listing that would help pay off debt, senior bankers said last week.
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November 3rd, 2009
- Projects
Mumbai India - ArcelorMittal eyes new sites for steel plants
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| The world’s largest steelmaker, ArcelorMittal, which registered a net profit of $ 903 million after posting losses for three consecutive quarters, said on Wednesday that it is looking at alternative sites in Orissa and Jharkhand for its steel projects. Lakshmi N Mittal, chairman and CEO, ArcelorMittal, during a conference call to announce the company’s third quarter results, said, “We being a global company, would not limit ourselves from exploring options in other states. However, as of now, we are focusing only on Orissa and Jharkhand.” When asked whether the company will look at other states like Karnataka and if talks were held with the state government, Mittal replied, “I wouldn’t know as the company’s officials in India would be dealing with it.”
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November 3rd, 2009
- Reports
Mumbai India - Tata India a different story from Tata Corus
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| The Indian operations of Tata Steel have shown a 25% jump in sales during August 2009 compared to the same period last year. Thus, compared to sales of 3.92 lakh tonne in August 2008, the steel major sold 4.92 lakh tonne during August this year. The company witnessed 81% increase in sales of long products in August this year, signalling that the construction sector, the main buyers of long products, was gradually gaining momentum.
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November 3rd, 2009
- General
Johannesburg South Africa - ArcelorMittal to lower prices for one third of its product
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| ArcelorMittal South Africa will lower the price for one third of its steel product products with effect from the start of next month, Sven Lunsche, an ArcelorMittal spokesperson, said on Friday. South Africa’s largest steel maker was cutting its prices in line with the direction of international steel prices as well as its forecast for the exchange rate between the rand and the US dollar during next month, he added. The price of two classes long steel, rebar and wire rod, will decline by 3.5 percent and plate, which is a flat steel product, will decline by 5 percent. “The price of other classes of steel will remain unchanged,” Lunsche said.
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November 3rd, 2009
- General
Richmond Indiana - Belden expands its coverage of electrical distribution by adding Omni Cable as a a master redistributor of specialty wire and cable
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| Belden a world leader in the development of signal transmission products for the industrial, building management, enterprise, broadcast, and security markets, announces a new partnership with Omni Cable, a master re-distributor of specialty wire and cable for electrical distribution. Andy Adams, President of the Industrial Solutions Division of Belden states, "Belden is able to supply our industrial customers with a complete solution of cabling, connectors and industrial Ethernet switches. Electrical distribution is key to delivering this solution to our customers. With over 30 years of experience fulfilling the product and service needs of their electrical distributors nationwide, Omni Cable is well positioned as a redistribution partner."Jeff Siegfried, CEO of Omni Cable, adds, "Omni Cable is proud to add Belden to its sales portfolio. This new partnership is sure to provide greater value to our customers since we will be able to supply our electrical distributors with high quality Belden cable, as well as the ability to support Belden's Complete Industrial Solutions."
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November 2nd, 2009
- General
Helsinki Finland - Finland makes broadband Internet a legal right
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| The government of Finland has passed a law that will guarantee all citizens be legally entitled to a minimum broadband connection speed of one megabit per second, according to media reports Thursday. The Daily Telegraph reports the Finnish government has committed to rolling out 100 megabits per second broadband connections across the country by 2015. It’s the first country in the world to make universal minimum Internet access speeds a legal requirement. Telecoms companies across Finland will have to start rolling out high-speed services to all locations, the Telegraph said. Finland, which has a population of around 5.2 million, is already one of the most connected countries in the world, with 95% of citizens already hooked up to some form of Internet connection, the Telegraph said. Finland is the first country to pass a law making guaranteed web access a human right.
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November 2nd, 2009
- General
London U.K. - MEPS sees African steel industry emerging from recession
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| Steel consultancy MEPS said that the African steel industry would emerge from the global economic downturn with only limited damage. Releasing its forecast for the year, MEPS said that mill output in 2009 was likely to decline by 2 million tonnes on the outturn last year to just above 15 million tonnes. This represented a reduction of 11.6%. By comparison, global steel production is expected to be 1.2 billion tonnes this year, a 9.5% reduction on the outturn in the previous 12 month period but still significantly above predictions by most pundits earlier in the year.MEPS said that "This indicates that scrap-based electric melting will turn out to be the main casualty in the supply of steel over the year. The steel sectors in most industrialized nations have been badly hit by the economic crisis." Source SteelGuru
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November 2nd, 2009
- Acquisitions
Taipei Taiwan - Chunghwa Telecom mulls investment opportunities in Taiwan, and abroad
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| Chunghwa Telecom Co. President Shaio-tung Chang said Wednesday the company is evaluating investment opportunities either in Taiwan or abroad, but he didn't say whether it is in talks to acquire Asia Pacific Telecom Group, a small broadband and mobile services provider. "Chunghwa monitors the market closely and is looking for investment opportunities, either domestically or internationally," Chang said in an emailed reply to a Dow Jones query, after a Commercial Times report cited Minister of Transportation and Communications Mao Chi-Kuo as saying Chunghwa Telecom is considering buying a stake in Asia Pacific Telecom. The paper also cited unnamed industry sources as saying Chunghwa Telecom, Taiwan's largest phone services provider by revenue, plans to invest NT$10 billion in Asia Pacific Telecom and take over its management. The transportation and communications ministry is Chunghwa Telecom's largest shareholder, with a 35.3% stake.
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November 2nd, 2009
- Projects
Jamshedpur India - Wire rod mill also part of Jindal Steel Patratu greenfield unit
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| Jindal Steel & Power Ltd (JSPL) which is setting up a 6 million tonne per annum (mtpa) greenfield unit in two phases of 3 mtpa each at Patratu in Hazaribagh district of Jharkhand at an estimated investment of Rs 18,000 crore has started acquiring land for the project. JSPL had acquired the closed plant of Bihar Alloy Steel Ltd (BASL) located at around 550 acre to start setting up the steel plant and needs a total of around 2,500 acre land for the entire project. “We are engaged in direct purchase of land for the project and have already acquired around 600 acre,” said SP Sharan, deputy general manager (corporate affairs). The company is also setting up a wire rod unit of 0.6 mtpa capacity at the site. “The wire rod mill which was to commence production in October would now go on stream in December (2009),” said Sharan
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October 31st, 2009
- General
Pretoria South Africa - Meshco wants special treatment
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| Allens Meshco, one of the biggest manufacturers of steel wire and wire products in South Africa is requesting exemption from the Competition Act. But the company has already been accused of contravening the act. Keith Weeks, head of law enforcement and exemptions at the Competition Commission, says the application will be handled as objectively and quickly as possible. The application is for exemption enabling Allens-Meshco to discuss prices and exports relating to wire products and prices, as well as prices, profit margins and vertical agreements with Cape Gate, Consolidated Wire Industries, ArcelorMittal SA and Scaw South Africa. Mittal has a 49% stake in Consolidated Wire Industries and Scaw is apparently responsible for managing the company.
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October 31st, 2009
- Projects
Havana Cuba - Cuba wary of first US-Cuba fiber line
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| A top Cuban communications official said Monday that the communist government is wary of a Miami company's plan to run a fiber optic cable to the island and it hasn't yet even been asked for permission. TeleCuba Communications Inc. announced on Oct. 13 that it had received U.S. Treasury Department approval to lay about 110 miles (175 kilometers) of cable from Florida to Cuban territory -- seemingly a significant dent in the U.S. embargo against the island. But Francisco Hartmann, director of strategy for Cuba's national Office of Information, said his government has "no official knowledge that there is interest to negotiate" such a project, and he indicated they may frown on it if asked. "If all the information that we have passes by cable to Florida, that technological independence, the sovereignty that for us is so important, what will happen to it?" he asked at a news conference. TeleCuba said the cable, following the route of a defunct 1950s copper telephone cable from Key West, Florida, to the Havana suburb of Cojimar could be operational by the middle of 2011.
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October 31st, 2009
- General
Nairobi Kenya - Low literacy and lack of PCs hamper internet access.
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| Telecom firms which have invested heavily in the Internet business in anticipation of a connection frenzy following the landing of two undersea fibre optic cables in Kenya might have to shelve their profit targets for now. New research data suggests that the growth of the Internet will depend on literacy levels and availability of communication gadgets. "The development of data services will largely depend on growth of PC penetration and high-end handsets," says the survey by Renaissance Capital and Synovate. This comes against the background of heavy investment in fibre optic cables by telecommunications operators and the government.
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