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July 2nd, 2009
- General
Milwaukee Wisconsin - Charter Wire will move to new facility by end of year
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 Charter Wire, which is building a new, 160,000-square-foot manufacturing facility in Milwaukee’s Menomonee Valley, has started moving some equipment to its new facility and expects to have all production moved there by the end of the year. Crews from MSI General, the general contractor on the project, are still finishing the facility, said John W. Mellowes, general manager of Charter Wire.
“The building is up and they are working on all of the mechanical (systems) inside now,” he said. “They will be done by mid third quarter. Our process will take quite a bit of time. Our goal is to be under one roof by end of the year.” Between one-fourth and one-third of the equipment in Charter Wire’s new facility will be new. The company’s total investment in the new plant, between machinery, real estate and construction, will be about $20 million, Mellowes said.
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July 2nd, 2009
- Acquisitions
London U.K. - ROLLS-ROYCE GROUP PLC acquires 33% holding in ODIM ASA
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| Rolls-Royce, the global power systems company, today announced that it has agreed to purchase a 33 per cent holding in the ordinary shares of ODIM, a leading provider of specialist marine handling systems to the offshore oil and gas industry. The acquisition is of 15,545,634 ordinary shares and will be purchased for investment purposes from Aker Solutions ASA (“Aker Solutions”) for a cash consideration of NOK 45 per share and a total consideration of NOK 700m (circa £66m). The agreement is conditional on the approval of the investment by the Norwegian competition authority. Rolls-Royce does not currently hold any shares or have any rights over shares in ODIM.
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July 2nd, 2009
- General
Beijing China - Domestic Chinese spot steel prices rose last week
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Domestic steel spot prices climbed last week, especially the price of spot building steel, which rose by RMB 200 per ton in Tianjin City and Jinan City in Northeast China, sources reported.
Last week, prices of spot building steel rose by RMB 100 per ton in fifteen Chinese cities. Medium plate prices increased between RMB 70 and RMB 100 per ton in almost every city except Chongqing, Southwest China. Cold-rolled steel coils and sheets rose by RMB 200 per ton in North China and Northeast China.
A total of 66 steel bar enterprises and 50 wire rod producers raised spot prices last week. Jiangsu Shagang Group Co, China's largest privately-owned steelmaker, raised the factory price of its steel bars by RMB 130 per ton in late June.
Meanwhile, Chinese spot iron ore prices rose US$4 to US$81.5 per ton in the past week, hitting a four-month high.
The spot prices are even higher than the prices suggested by Rio and BHP for Asian iron ore importers. The two iron ore giants offered a 33% discount on benchmark iron ore prices to Asian steelmakers, but China Iron and Steel Association (CISA) rejected the discount and requested a 40% cut in iron ore prices.
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July 2nd, 2009
- General
Shanghai China - Baosteel lays foundation for new wire rods plant
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| SteelGuru reports that Baosteel Group was laying a foundation for its newly built wire rods company in Nantong on June 25th 2009. As per report the new CNY 430 million worth investment will be built based on Shanghai-based Baosteel Ergang which will stop production during the EXPO period, into the capacity of 170,000 tonne per year PC steel wires & strands and 10,000 tonne per year Oil quenched tempered Spring Wires.
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July 1st, 2009
- General
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Canada celebrates Canada dayWirenews resumes tomorrow
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June 30th, 2009
- Acquisitions
Seoul Korea - Prysmian said to be in talks with Draka re possible takeover
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| There are rumors circulating in Asia this morning that Italian cable maker Prysmian was negotiating a possible take over of Draka Holding NV , Europe's third-largest cable maker based in the Netherlands. Taihan Electric Wire Co Ltd shares jumped more than 7 percent after the report became widely known Taihan Elec Wire's investment arm, Taihan Global Luxembourg Investment Sarl, controls 9.9 percent of Prysmian. "There are hopes that Taihan would benefit from Prysmian's business," said Kim Ji-san, an analyst at Kiwoon Securities. We will try to get the information confirmed or denied during the course of today.
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June 30th, 2009
- Acquisitions
Milan Italy - Prysmian SpA confirms our earlier report that it is in preliminary talks to merge with Draka Holding N.V
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| Italian cable maker Prysmian SpA has confirmethat it is in preliminary talks to merge with smaller-rival Amsterdam-based cable company Draka Holding NV. The deal would create a world leader in the cable industry, observers said. In a statement, Prysmian, whose main shareholder is Goldman Sachs Group INC (GS) with a 32% stake, said that a cross-border merger would be completed through a share-for-share process. The proposed merger between Draka and Prysmian would effectively be a takeover by Prysmian, a transaction that makes sense, in view of potential cost and revenue synergies. With 12,000 employees and 53 plants worldwide, Prysmian says it is the second-largest cable industry firm behind France's Nexans SA (NEX.FR). Draka has about 10,000 workers and 40 plants.
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June 30th, 2009
- Personnel
West Chester, PA - Omni Cable Appoints Greg Donato as Executive Vice President of Sales Operations
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Omni Cable is pleased to announce that Greg Donato has assumed the responsibilities of Executive Vice President of Sales Operations. This newly created position will focus nationally on working with Omni Cable’s 10 branch locations across the U.S. on key sales growth initiatives.
Mr. Donato has over 25 years experience in the electrical distribution industry managing inside and outside sales teams as well as extensive P&L responsibility. He has held positions ranging from District Sales Manager to Region Vice President.
Donato earned a BS in Business Administration from Widener University. He has also completed executive training programs at MIT School of Management, Villanova University and Kellogg University.
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June 30th, 2009
- Press Releases
Irving, Texas - Commercial Metals Company reports $13.1 Million loss in 2nd Quarter
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CMC Chairman, President and Chief Executive Officer Murray R. McClean said, "Global metal markets may have tested the bottom during the quarter and though some recovery has occurred, the markets, overall, remain fragile. Any volume improvement in the quarter was seasonal and not reflective of any stimulus effect. Destocking appears to be in its last stages; however, end-use demand remains weak. Internationally, Poland remains one of the few countries with a positive GDP; its weak currency discourages imports; however, the lack of demand in traditional export markets minimizes any opportunities to leverage the euro or the U.S. dollar through exports.
There are some encouraging developments in China where pricing and consumption are on the rise. Lower prices and lower inventory quantities again triggered LIFO income during the quarter. Our largest commercial exposures remain unwarranted customer contractual noncompliance leading to market claims, price renegotiations, and unexpected inventory positions."
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June 29th, 2009
- General
Lusaka Zambia - Zambia opposition moves to block Chinese mine deal
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| Zambia President Rupiah Banda said on Wednesday he was willing to review copper mining taxes and he criticized the country's opposition for blocking a Chinese firm from running a big mine. The opposition has said it wants to curb China's widening influence in the country's mining sector, saying Chinese firms have a poor safety record and pay low wages to workers. Banda's government in May picked China's NFC Africa to take a majority stake in the closed Luanshya Copper Mines (LCM), which shut down in December after making losses, leading to job cuts. The Chinese firm was due to officially take over the mine on Wednesday.
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June 29th, 2009
- General
Helsinki Finland - Outokumpu ups nickel capacity as order volumes recover.
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| Finnish stainless steel maker Outokumpu said on Thursday it would increase its production capacity on the back of stronger order intake, but cautioned underlying demand for stainless steel remained weak. "In the past weeks Outokumpu's order intake for stainless steel has increased somewhat from the earlier very low levels," the firm said in a statement. Outokumpu said it would adjust production utilization from a current 50-60 percent rate to allow for a recovery in fourth-quarter delivery volumes. "The plan is however not to return to full production capacity at this stage," it said. Outokumpu said inventories seemed to have been run down by distributors and end-users and that the increase in the nickel price had triggered some purchasing activity, but added it saw no signs of underlying demand for stainless steel picking up. The firm said delivery volumes in the third quarter would remain at depressed levels due to capacity constraints and maintenance shutdowns.
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June 29th, 2009
- General
Beijing China - Where to park all our cash????
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| China Communist Party researcher Li Lianzhong fears for the country’s huge dollar surplus. China should buy more gold because the dollar is poised for a fall and the metal is needed to support the greater international role envisaged for the yuan, Li said on Thursday. Li, who heads the economic department of the Party's policy research office, said China should use more of its $1.95 trillion in foreign exchange reserves to buy energy and natural resource assets. Speaking at a foreign exchange and gold forum, Li also said that buying land in the United States was a better option for China than buying U.S. Treasury securities.
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June 29th, 2009
- General
Culpeper New York - Tyco Electronics lay-off workers at Rochester Wire & Cable.
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| Rochester Wire & Cable has joined a growing list of Culpeper-area businesses forced to lay off employees due to the economy. Mike Ratcliff, spokesman for parent company Tyco Electronics, confirmed that an unspecified number of employees at the Culpeper facility were let go June 11. “We did announce to employees at Culpeper that we were going to be reducing the workforce there,” Ratcliff said. About 150 people work at the Culpeper site, according to recently published state and federal information. Ratcliff said the company does not disclose specific figures on employment or layoffs. The company’s 400,000 square-foot facility, specializes in electric, fiber optic and undersea cables. Ratcliff said the reductions were effective immediately and did not disclose severance terms for the affected employees.
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June 27th, 2009
- Projects
Pune India - Sterlite Technologies announces aggressive plan to catapult into global top three manufacturers of optical fiber.
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| Sterlite Technologies Limited (“Sterlite”) a leading global provider of transmission solutions for the telecom and power industries, today announced that its Board of Directors has approved the enhancement of the Company’s optical fiber annual manufacturing capacity to 20 Million-km, which would position Sterlite amongst the Top 3 manufacturers globally. Sterlite’s current facility of 6 Million-Km is already under expansion to 12 Million-Km, which would get established in the current fiscal. The enhanced capacity of 20 Million-Km that would be functional by 2011, would require a capex outlay of Rs. 250 Crores (US$ 52 Million). The expanded facility would be capable of manufacturing the Company’s existing range of optical fiber products, as well as have the intrinsic capability to manufacture new products that would cater to high bandwidth applications required by global markets. The expansion would be done by through a combination of brown-field expansion at its existing facility in Aurangabad, and a green-field setup at a location that would soon be finalized. For full press release use this link
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June 27th, 2009
- General
Lagos Nigeria - Cable firm loses N 35 million to closure by tax agency
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| The management of the Nigeria Wire and Cable (NWC) Plc has disclosed that the company recorded a loss of N35 million following Tuesday's closure by officials of the Federal Inland Revenue Service (FIRS) over non-payment of its accumulated tax. Managing Director of the cable company, Mr Lateef Bakare, at a media briefing on the development said the factory has since been reopened after the initial payment of N5 million. He, however, said the invasion of its premises by the FIRS officials was uncalled for, since the two parties were already negotiating on the terms of settlement. Bakare also used the occasion to appeal to the federal government to ban importation of domestic cables into the Nigerian market.
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June 27th, 2009
- General
Hamburg Germany - Norsk Hydro sees late hope for its German aluminum plant
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| Germany's plan to give special state aid to the metals industry could give hope to a major aluminum plant in the country threatened with closure, Hydro Aluminum, the local unit of Norwegian group Norsk Hydro, said on Wednesday. Hydro said in April it may stop production at its loss-making aluminum plant at Neuss in June because of high German electricity costs and weak demand. But plans by Germany's ruling government coalition to give extra aid of 40 million euros to help the non-ferrous metal industry overcome the impact of the economic slowdown and high German power costs could give hope to the plant, said Hydro Aluminium spokesman Michael Peter Steffen.
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June 27th, 2009
- General
Conakry Guinea - RUSAL to slash Guinea alumina output
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| Russian metals firm RUSAL will cut alumina production at its Friguia plant in Guinea by more than 50 percent from July 1, a RUSAL executive in the West African country said on Wednesday. RUSAL is cutting metals output across its operations as it attempts to restructure $7.3 billion in foreign loans, while metals prices are around half of their year-ago levels and demand is not expected to rise dramatically in the near future" The management has taken the decision...to reduce the factory's production which is currently around 52,000 tonnes of alumina per month to 20,000 tonnes," the source said, speaking on condition of anonymity. RUSAL, which employs around 1,200 people at Friguia, intends to continue paying full salaries and does not plan to cut jobs, he said. The firm's Moscow headquarters could not be immediately contacted for comment.
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June 26th, 2009
- General
Berlin Germany - Corning Cable Systems 10G Capable FutureCom(TM) S500 RJ45 module meets latest international standard
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| Corning Cable Systems GmbH & Co KG, part of Corning Incorporated's Telecommunications segment, announces that its FutureCom(TM) S500 shielded copper RJ45 module has received Cat.6A component certification, as per approved ISO/IEC 11802:2002 Amd 1.0 and 2.0 (draft March 2009) international standard. The two amendments (Amd. 1.0 and 2.0) of ISO/IEC 11801:2002 set the most demanding requirements to NEXT (near- end crosstalk), ACR-F and ACR-N (alien crosstalk, far- and near end) particularly in the upper frequency range of 500 MHz compared to TIA-EIA-568-B.2-10 specifications. The additional margin achieved provides flexibility in critical environments and higher network integrity. The FutureCom S500 module is part of the new FutureCom EA system, the latest addition to Corning's 10Gbps Ethernet copper cabling systems family. The system provides a universal cabling solution for the use of Ethernet, VoIP, telephone, TV and other services. It also supports Power over Ethernet and Power over Ethernet Plus.
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June 26th, 2009
- General
Taipei Taiwan - Taipower launches domestic tender for 345KV power cable
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| State-run Taiwan Power Co. (Taipower) yesterday launched a tender for the supply of around NT$300 million worth of 345KV super high voltage cable to, for the first time ever, domestic suppliers, with Hua Eng Wire & Cable Co., Ltd. and Ta Ya Electric Wire and Cable Co., Ltd. joining the bid for the project. Taipower used to opened the tender to foreign suppliers, but the company has decided to allow only domestic suppliers to join the bid after both Hua Eng and Ta Ya won technical evaluation approval and production certification from the state-run power concern last year.
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June 26th, 2009
- General
Brantford Ontario - Just too much steel capacity everywhere
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 The steel industry is at or close to a bottom amid the downturn in the global economy, and will be there for a while, the chief executive of U.S. steelmaker Nucor Corp said Wednesday. Speaking to reporters on the sidelines of American Metal Market's Steel Survival Strategies conference, Nucor CEO Daniel DiMicco said, " Based on what's happened up to now, we should be at or near bottom, but we're going to be there for awhile." "We are still running at greatly reduced capacity. There's been some improvement since the first quarter, but I would not say significant improvement at this time," He added that Nucor was operating at "lower levels than anything we have seen for 45 years." Indian-owned British steelmaker Corus announced yesterday a series of further job reductions, which have become necessary because of the worldwide economic downturn and, in particular, the decline in steel demand in Europe and America. Thamesteel a British mini-mill is by contrast operating at full production capacity for rebar and wire rod a spokesperson for the company said. The global steel industry has been hit by a collapse in orders from the auto and construction sectors. The world's biggest steelmaker, ArcelorMittal, has also been forced to slash its output.
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June 26th, 2009
- General
Beijing China - World’s commodities giant, making bigger waves
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| For China, the trade dispute raised this week with the West may in retrospect seem minor compared to the ructions that await Beijing as its state firms start to punch their weight on global commodity markets. The U.S. and EU complaint to the World Trade Organization accuses China of unfairly restricting exports of several metals such as zinc, steelmaking ingredient coke and bauxite, the raw material for aluminium; at the same time India and Australia complained about Chinese firms dumping cheap aluminum goods. Both are the result of China using tried and tested tax or tariff policies to ensure resource supplies and protect domestic industry. But as its domestic demand begins to outstrip its own resource base, those policies will become less effective. For commodity markets, the concern is that Beijing could utilize its growing trade network and strategic stockpiles as its next best lever to protect its economy.
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June 25th, 2009
- Market Stats
Boston Massachusetts - Economic recession expected to have minor impact on the structured cabling systems market.
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FTM Consulting announced in its latest study of the SCS market that the current U.S. economic recession, which started in the fourth quarter of 2007 and continues into 2009, was not impacted until the fourth quarter of 2008, when UTP (unshielded twisted-pair ) cable volumes declined significantly. Frank Murawski, President of FTM Consulting, Inc. said, “For the last 10 years that we tracked quarterly UTP cable shipment growths, we have not seen the severity of the decrease that occurred in the fourth quarter of 2008, when shipments fell off the cliff. Until that point in time, the market had behaved consistently since 2001, basically being flat market with minor annual growth increases or decreases of no significance occurring.
With this dramatic decrease, we believed it was time that we further analyzed this radical departure of the market to ascertain what was occurring. We undertook a comprehensive bottoms up approach in analyzing the market’s performance during the past several years from 2006 through 2009.”
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June 25th, 2009
- General
Paris France - Nexans’ low-voltage cables power the new BioWanze bioethanol plant in Belgium
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| Nexans, a worldwide leader in the cable industry,has completed a contract worth approximately 1 million euros to supply low-voltage power cables for the BioWanze project—a new plant producing bioethanol from wheat and sugar beet. The plant, located in Wanze near Huy sur Meuse (Belgium), represents an investment of 250 million euros for the Südzucker Group, Europe’s leading sugar producer. It will produce half of the annual bioethanol volume for the Belgian market, or 125,000 cubic meters per annum during the next six years.
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June 25th, 2009
- Market Stats
Tokyo Japan - Japan’s May shipments of copper wire and cable lowest since February 1975
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| Japanese copper wire and cable shipments amounted to an estimated 44,700 tonnes in May, down 31.4 percent from a year earlier and the lowest level since February 1975, Japanese Electric Wire and Cable Makers' Association said on Wednesday. Shipments were down 14.7 percent from April, (see wirenews May 23rd, 2009 Tokyo ,Japan - April copper cable shipments down 26.3 percent yr/yr) Demand from the construction industry hit the lowest level in 26 years. Shipments fell 25.7 percent to an estimated 18,900 tonnes in May from a year earlier, the lowest level since May 1983, when shipments stood at 18,870 tonnes. Demand for copper has fallen across all industrial sectors, including construction and automobiles, as Japan struggles to lift itself from its worst downturn in half a century. The association's members account for about 60 percent of Japan's copper use.
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June 25th, 2009
- General
Chasse, Rhone France - Condat to Present New Dry Drawing Lubricants at Wire Southeast Asia, Bangkok
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 In order to meet with new regulations and to anticipate them, CONDAT offers now a wider selection of dry drawing lubricants without borax or with very limited amounts of borax that will be presented on WIRE Bangkok. After years of research and thanks to extensive field testing (with the partnership of major wire drawing leaders), CONDAT has set up a new generation of soluble sodium soaps: VICAFIL SUMAC 3, VICAFIL TN 1630, VICAFIL TN 21.
This new range of dry lubricants is characterised by product optimisation and improved performance, for conventional wire drawing applications as well as for the most severe operations such as high tensile alloyed wire drawing. Those products ensure:
- VICAFIL®: the largest range of lubricants for all Wire Drawing applications in the industry
- STEELSKIN®: specific High Tech Dry lubricants range
- GALVASMOOTH®: range for galvanizing wires for hot dip processes
- CONDACLEAN: range of cleaners for all Applications…
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