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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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May 12th, 2008
- General
Abu Dhabi - UAE - EIIC reveals Dhs1.8bn plan to establish six hi-tech cable factories globally
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| As part of its strategy to broaden its international presence and develop its business units, the Emirates International Investment Company (EIIC) has announced ambitious plans to build six hi-tech factories in the UAE, Kingdom of Saudi Arabia (KSA), Algeria, Romania and Vietnam, at a value of Dhs1.8bn.
EIIC’s decision to construct these factories in Kingdom of Saudi Arabia (KSA), Algeria, Romania and Vietnam comes at a time when the region is experiencing a great construction boom. To satisfy market demand, EIIC is estimating production levels of 40,000 tonnes/year of copper and 7,000 tonnes/year of aluminium low, medium and high voltage cables, all of which will adhere to best international standards.
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May 12th, 2008
- Projects
Abu Dhabi - UAE - EIIC announces magnet wire factory for Electrocab Emarat in Abu Dhabi
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| Emirates International Investment Company (EIIC) has announced the addition of an Dhs250m magnet wire factory in Abu Dhabi as part of Electrocab Emarat’s latest expansion plan. Ducab, the premier cable manufacturer in the Middle East has entered into a strategic partnership with EIIC (Emirates International Investment Company) owned Electrocab Emarat LLC. As part of the agreement, Ducab will take ownership of the new Musaffah Abu Dhabi cable factory of Electrocab Emarat. Electrocab Emarat is part of Emirates International Investment Company (EIIC) and was planning to manufacture a wide range of electrical power cables at the new factory located in the Industrial City of Abu Dhabi (ICAD), 30 km from Abu Dhabi City.
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May 12th, 2008
- General
Budapest Hungary - New fastener show opens in Budapest 22 - 23 September 2008
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| Fastener and fixing professionals in eastern Europe will soon be able to take advantage of a focused exhibition that, for the first time ever, will see the global industry focusing on eastern Europe. When doors open at the new Fastener Fair Budapest exhibition on 22 and 23 September 2008, visitors to the show will have unprecedented regional access to the world’s leading players in the market. These major international companies have been attracted to this launch event by the new opportunities in eastern Europe, which have partly come about as a result of the increasing costs of doing business in the Far East. Fastener Fair Budapest organizer Jerry Ramsdale believes the opportunities have never been greater for businesses and entrepreneurs in eastern Europe. "Global manufacturing and production companies have been heading to China and the Far East for many years now, but economic events in that part of the world and in the global economy are combining to make the Far East less tempting."
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May 12th, 2008
- Reports
Dallas Texas - Once struggling Keystone Steel and Wire records first-quarter profit.
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| Riding stronger sales and helped by pension credits, Keystone Consolidated Industries Inc. had a healthy profit in the first quarter, the company reported Friday. Keystone ended the quarter with a profit of $13.6 million, compared with a profit of $14.5 million, in the first quarter of 2007. Keystone's stock was selling at $9.52 a share, unchanged from Thursday. Dallas-based Keystone Consolidated, parent company of Keystone Steel & Wire in Bartonville, reported sales were well up in the first quarter of this year when compared with the first three months of 2007, but the cost of the goods sold also was up significantly, nearly offsetting the gain on sales. It appears that apart from Wall Street and the sub prime mortgage debacle not every part of the nation's economy is sagging,.Despite all the grim news exports are surging and imports are shut out as the falling dollar has made U.S. products more affordable abroad and at home. Statistics points to a 5.5 percent annual rate of increase in exports in the first quarter of the year..
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May 10th, 2008
- General
Brussels Belgium - European regulators looking at steel wire imports
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| The European Union said Thursday it would investigate whether China, Moldova and Turkey are illegally selling steel wire rod at below-cost prices that damage European manufacturers. The EU can slap trade charges on imports for up to five years if it finds they are being dumped on the European market in violation of global trade rules. Any hint of sanctions would come in February at the earliest, after officials can make recommendations and EU governments decide whether to take action. Steel is the latest product to strain Europe's trading relations with China, after surging clothing imports broke through quota limits in 2005 and cheap shoes saw Europe impose tariffs in 2006. Chinese steel sales to Europe almost doubled last year, depressing European prices and triggering complaints from the European Confederation of Iron and Steel Industries (Eurofer). The EU's executive Commission said a March 25 complaint from Eurofer gave evidence of surging imports from Moldova and Turkey as well. The new trade investigation will focus on wire rods used in construction that were imported from April 1, 2007, until March 31.The EU already has launched three other investigations, looking at imports of steel wire from China, stainless steel cold-rolled flat products from China, South Korea and Taiwan and Chinese hot-dipped metallic coated iron or steel flat-rolled products.
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May 10th, 2008
- Market Stats
Beijing China - Chinese steel wire prices soar in April up 37% year on-year.
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| China's April producer price index (PPI) rose 8.1 pct from a year earlier, the National Bureau of Statistics said in a statement. PPI in the four months to April was up 7.2 pct year-on-year, the NBS said. The figures compare to a March PPI rise of 8.0 pct and first quarter growth of 6.9 pct. The NBS said procurement prices for Steel wire prices rose 37.0 %, while prices for medium thickness steel plates were up 24.9 %. Non-ferrous metal processing prices increased 4.7 % last month. Procurement prices for raw materials, fuel and power increased 10.3 % month-on-month in April.
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May 10th, 2008
- Acquisitions
Calcutta, India - Ramsarup ready for foreign acquisitions
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| Ramsarup Industries Ltd has set aside Rs 250 crore for a possible overseas acquisition of a steel wire facility local media said Friday. The company, one of the top three players in the wire business in India, is looking at a 100,000-tonne unit in Southeast Asia. ~{!0~}We have been talking to some parties. It is yet to materialize,~{!1~} Ashish Jhunjhunwala, chairman and managing director of Ramsarup Group, said. The company aims to be one of the top 10 producers of wires globally. The acquisition will help the company reach this target, he said. "Moreover, we will be able to reach the customers in those markets faster than with wires produced in India. The distribution channel will be a big plus," he said. Ramsarup~{!/~}s bigger competitors in India, Usha Martin Ltd and Tata Steel, already have a global presence. Back home, the company plans to ramp up production. It makes 225,000 tonnes of wires at Kalyani. Ramsarup~{!/~}s Durgapur unit has just started production with an initial capacity of 55,000 tonnes. It plans to increase production to 400,000 tonnes over the next two years.
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May 10th, 2008
- General
Karlskrona Sweden - NorNed, the Longest HVDCcable in the world, is operational
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| On Tuesday, May 6, the longest high-voltage cable in the world, was successfully put into operation. The NorNed cable between the Netherlands (Eemshaven) and Noorway (Feda), with a length of 580 km. The cable has a capacity of 700 MW and is intended for the transmission of electricity between both countries. This cable contributes in creating an European electricity market for 200 million consumers. The NorNed cable is a joint project of the Transmission System Operators (TSOs) from Norway and the Netherlands, Stattnett and TenneT. The 580 km long cable is the longest submarine high-voltage cable in the world. Due to this electricity motorway, market parties can import and export electricity via explicit auctions. For the Netherlands, NorNed is the sixth international connection. The existing cables are two connections to Belgium and three connections to Germany. For details use use this link
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May 9th, 2008
- General
Norcross, Georgia - OFS and Draka settles patent infringement suit
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| Furukawa Electric North America, Inc., and OFS Fitel, LLC, both of Norcross, Georgia, on the one hand, and Draka Comteq B.V., of Amsterdam, The Netherlands, and Draka Comteq America, Inc. of North Dighton, Massachusetts, on the other hand, are pleased to announce that the parties have fully and completely resolved the patent disputes at issue in the United States District Court for the Western District of North Carolina, Civ. Action No. 5:07-CV-00058 (the “North Carolina Case”) and in the United States District Court for the Eastern District of Texas, Civ. Action No. 2:07-CV-427. Having resolved these disputes, the parties jointly look forward to a continued successful future business relationship.
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May 9th, 2008
- General
Brantford Ontario - New wireless technology can lower demand for last mile optic fiber
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| Sprint Nextel Corp said in a press release Wednesday they will combine its High-Speed Network with Clearwire.Corp creating a $14.5 billion company and reviving plans to build out the first national WiMax network. WiMax is a standard for wireless laptops and mobile phones that can transmit data up to five times faster than today's technology. Intel Corp Comcast Corp., Time Warner Cable Inc., Google Inc.and Bright House Networks will invest $3.2 billion in the venture, the companies said today. Sprint Chief Executive Officer Daniel Hesse teamed with wireless pioneer Craig McCaw to gain a leg up on AT&T Inc. and Verizon Wireless by offering faster service. The venture's funding will help expand network coverage to as many as 140 million people by 2010, letting Hesse scale back spending at Sprint after losing more than a million customers last year. "The major issue for Sprint was the money," ABI Research analyst Nadine Manjaro said in an interview from Kansas. "If Comcast, Google and Time Warner invest the money, you'll definitely see it taking off."
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May 9th, 2008
- Projects
Belgrade Serbia - Metalka (a switchgear maker) expands into cable-making.
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| Rautomead of Dundee Scotland has won an order from Metalka Majur, of Serbia, to supply an RS 3000/6 upwards-vertical copper rod continuous casting machine. The RS 3000/6 will be the fourth Rautomead copper rod casting machine to be installed in Serbia. The RS 3000/6 model will produce high quality 8mm oxygen-free copper rod at a new cable manufacturing facility being established by Metalka at Jagodina, south-east of Belgrade. Metalka manufactures a range of modern electrical switchgear and its move into cable-making is a major expansion for the company.
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May 9th, 2008
- Acquisitions
London U.K. - Melrose agrees to acquire FKI for 478 Million Pounds
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| Melrose Plc has agreed to buy FKI Plc, parent of Bridon Europe's biggest maker of wire rope for 478 million pounds ($945 million) in cash and shares. FKI has faced breaking up the group to cope with debt of 354 million pounds. Melrose, which buys and sells manufacturers after improving their performance, has secured a 750 million-pound banking facility to refinance both companies' borrowings. "This offer delivers a resolution to the issue of the future funding package for FKI," Michael Hodgkinson, senior independent director at FKI, said on a conference call with journalists. "What Melrose now has to do is solve the issues which the FKI management promised to do but has taken well too long and that is to get the debt down," analysts said. "There are things they can do like selling off businesses which they clearly will do. It's possible they would sell either Bridon, the lifting equipment business, or Brush, the turbo generator business, both of which are trading very strongly indeed."
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May 8th, 2008
- Product Releases
Pawtucket Rhode Island - Teknor Apex introduces new family of TPO elastomers
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 A new family of thermoplastic olefin (TPO) elastomers exceeds by a wide margin the performance and softness limitations of conventional TPOs and exhibit processing and physical property advantages over a wide range of other thermoplastics elastomers (TPEs), it was announced today by Teknor Apex Company. Tradenamed Telcar® OBC, the new TPO compounds are blends of a rigid polyolefin and INFUSE olefin block copolymers (OBC) from Dow, which Teknor Apex uses under a newly established agreement with Dow. Conventional TPOs have rubber phases consisting of EPDM rubber or random ethylene copolymers. Teknor Apex recommends the new compounds for opaque and translucent applications such as food and beverage packaging, office products, medical devices, consumer goods, and industrial products like hoses, tubes, gaskets, seals, weatherstripping, and wire and cable. Telcar OBC compounds meet FDA requirements for regulated uses.
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May 8th, 2008
- Reports
Nuremberg Germany - Leoni consolidated sales up 31% in 1st Quarter 2008
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| The Leoni Group grew further in the first quarter of 2008. Compared with the same period of the previous year, consolidated sales increased by more than 31 percent to EUR 770.6 million (Q1/2007: EUR 586.5 million) due above all to initial consolidation of the new subsidiary Leoni Wiring Systems (LWS) France, the former wiring systems division of Valeo. Earnings before interest, taxes and depreciation/amortization (EBITDA) rose by 16 percent to EUR 61.2 million (2007: 52.7) despite extensive pre-production spending on new projects. Due to the expected adverse effect on earnings of revaluation according to the purchase price allocation of LWS France, earnings before interest and taxes after three months of 2008 were, at EUR 34.1 million, down slightly on the previous year’s figure of EUR 35.3 million. With a figure of EUR 20.0 million, consolidated net income likewise came close the level in the first quarter of 2007 (EUR 20.7 million). To facilitate further growth in the future, Leoni increased its spending on property, plant and equipment as well as intangible assets significantly in the period under report, to EUR 31.5 million (from EUR 15.4 million in the previous year). This included expansion of capacity for production of wiring systems in China, North Africa and Eastern Europe as well as setting a new facility in Bautzen, Germany for refining polymer cables by means of irradiation. For complete press release use this link
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May 8th, 2008
- General
Baltimore Maryland - US export sales rise on falling dollar.
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| Maryland's export shipments totaled $8.9 billion in 2007, an increase of 18 percent from the year before and 81 percent from 2003. Among Maryland's largest exporters are the defense firms Northrop Grumman Electronic Systems and Lockheed Martin as well as Arinc, a communications and systems engineering company. The state's leading exports are chemicals, followed by transportation equipment, computers and electronic products, and fabricated metal products. "We are effervescent," said Drew Greenblatt, owner of Marlin Steel Wire Products, a Baltimore firm that designs and makes custom wire baskets used by dozens of firms around the world, including Toyota and Pfizer. "There is a lot of chatter out there about how poorly the economy is doing, but we're not seeing it." He said Marlin, which had sales of $3 million in 2007, has grown 18 percent since the first quarter of last year, and he expects more of the same in the coming months. Much of that is because of exports, which have grown from almost nothing to 10 percent of the company's business in the past two years. "There are people here putting food on their tables because of the increase in global trade," he said. Foreign tourism has been another bright spot in the U.S. economy, again in large part because of the strength of the euro against the dollar.
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May 8th, 2008
- Reports
Kolkata India - Universal Cables profit dips
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| Power cable company Universal Cables, part of the M P Birla group, has registered a net profit of Rs 5.9 crore, in the quarter ended March 31, down marginally from Rs 6.2 crore in the same period last year. EBIDTA during the current quarter was higher at Rs 17.08 crore compared to Rs 13.75 crore in the corresponding quarter. Net sales for the quarter stood at Rs 131.40 crore, an increase of 16.65 per cent over the same period last year. R S Lodha, chairman, Universal Cables said that the company had recently got its 220kv cable samples successfully tested at the CPRI laboratory, Bangalore. "This being the first successful 220kv cable type test in India, has unveiled a new roadmap for the company to tap the emerging 220kv power cable market."
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