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Aurubis AG and Luvata Group have agreed a closing date for the sale of Luvata's rolled copper and brass products division (RPD). Aurubis originally expected the deal to close in August, however, delays in seeking regulatory approval has caused the date to slip to 1st September. Aurubis has received clearance from the US and Turkish regulatory authorities but is awaiting a response from the European Union's antitrust body. The early May agreement stated that Aurubis will pay the Net Working Capital of Luvata RPD at the time of closing, anticipated to be between EUR200 - 250M. The final price is subject to copper price movements and stock levels at Luvata RPD.

Aurubis AG, a leading producer of unwrought copper and copper semis, announced its third quarter results. It reported pre-tax profits to have risen by 41% y-o-y to €111M and total net revenues of €3.294B, up by 32% y-o-y. The company produced 198,000t of copper wirerod, down by 6% y-o-y, whereas production of copper shapes was up by 10% y-o-y, amounting to 55,000t. Within this area, Aurubis' product mix is characterised by an increasing proportion of speciality products. The company noted cooling demand for its copper products during April to June 2011, attributed to seasonal factors.

Switzerland-based power and automation technology group, ABB Ltd., won a contract tendered by TenneT, the Dutch-German transmission grid operator, to connect North Sea wind farms to the German mainland grid. The order is worth US$1.0B and ABB expect to use over 135km of 320kV submarine cable in the designed transmission system. The project is expected to be operational in 2015 and follows two other offshore wind connection orders for ABB in Germany; the 800MW Dolwin1 link awarded last year and previously, the BorWin1 project. The Dolwin1 link is expected to be completed in 2013 and will involve the use of 150km of 320kV copper submarine cable.

Leoni AG, a leading automotive wiring harness provider, reached an agreement to acquire the outstanding 50% of its joint venture partner, Daekyeung T&G, effective on 1st January 2012. Leoni acquired 50% of Daekyeung in June 2008 after an agreement one year earlier to cooperate on wiring harness development. Daekyeung produces wiring harnesses for the automotive industry in three facilities located in China. The South Korean company is expected to generate sales between €130M - €140M in 2012 and will help Leoni's objective to double sales revenue in South Korea by 2015.

Aurubis AG, the Germany based copper producer and semi-fabricator, is expected to acquire Luvata RPD, the rolled products division of Luvata Group, in August 2011 following the companies' announcement that an acquisition agreement has been reached. Aurubis will pay the Net Working Capital of Luvata RPD at the time of closing, anticipated to be between EUR200 - 250M.

"Asia Pacific: The Largest Market for Switchgear The Asia-Pacific region holds the largest market for switchgear, driven largely by the number of transmission and distribution line up gradations and developments in the South East Asia. These developments are due to its growing energy needs is the major growth engine for this market. Utilities: Biggest Market by Application Switchgear is mostly used in Transmission & Distribution by power utility companies. They are used for switching the equipment or the circuit during the event of fault. With the growing transmission and distribution network across globe, the number of substations will keep on increasing. This increasing number of substations is expected to increase the use and demand for switchgears. Maximum T&D expansion projects are ongoing in Asia-Pacific and the market is expected to be the biggest and the fastest growing market for switchgear. The Switchgear industry is fragmented and offers several opportunities for consolidation and growth in efficiency through an increase in economies of scale. The industry has low entry and exit barriers. This is a major driver of the Switchgear Market. Top players of the PR market are ABB (Switzerland), Eaton Corporation (Ireland), GE (U.S.), and Siemens AG (Germany)."

"A solar eclipse can be alarming for animals and birds - and also for countries that rely on renewable energy, like Germany."

"The potential for diminished growth varies considerably among countries. In the developed world, Canada and Germany are poised for the biggest drops in GDP growth rates. Saudi Arabia, Mexico, Russia, and Brazil are most at risk in developing countries (Exhibit 1)."

"In the first of a series of exclusive articles, James Gordon explores the latest developments in V2G systems and asks if the technology has the power to reshape global electricity distribution networks.…. It is the world's largest consumer of energy(1), and with over half of China's 1.3 billion population choosing to live in its sprawling and gridlocked super-cities, the demand for power has never been greater. But ensuring that the 680 million who live in China's megalopolises receive a steady stream of electricity is no easy task. However, while the solution - to install a network of long distance super-grids - has proved to be effective, it has come at great cost. This highly innovative smart grid infrastructure that the State Grid Corporation of China, has been specially designed to transmit ultra-high-voltage-direct-current (UHVDC) at over 600,000 volts to China's main population centres from rural areas rich in energy(2). America, India, Germany and Brazil are also incorporating UHDVC lines into their grids, but Britain, whose population is expected to grow from 64,875,165 (2015) to 77,568,588 by 2050(3), is only in the early stages of exploring the potential of the technology according to the Energy Networks Association. And while the UK's Utility giants may yet decide to invest billions of pounds in these high-tech super grids, a fully functioning next-generation Battery Electric Vehicle to Grid (V2G) charging system, located in Birmingham, the UK's second city, may mean they never need to. But how could this potentially game-changing technology, which has been installed at Aston University's European Bioenergy Research Institute (EBRI), one day save the National Grid and the tax-payer billions of pounds?"

SMS Meer of Germany announced on 8th November that it had received an order from Tongling Nonferrous Metals Group for a CONTIROD casting and rolling plant for the production of copper wirerod. The new wirerod line can produces 225,000t/y of copper wirerod from cathode. The news follows an announcement from Tongling Nonferrous Metals that it is planning to expand production in its smelting division to become China's largest copper smelter. The company, which produces copper cathode as well as end products such as semis and rod, said it is planning to raise smelting output by 400,000t/y. This is equivalent to 50% of production and would take total output to 1.2Mt/y, overtaking China's current largest smelter Jiangxi Copper.

Kobelco, a diversified Japanese group with interests ranging from copper to construction machinery, announced on 19th November that it is licensing one of its leading copper alloy products, used in terminals and connectors, to German firm Wieland. The company said that the deal would allow it "to establish a global supply network for copper alloys, especially for automotive applications." The announcement marks the second time Kobelco have expanded their global presence in the copper alloys market through such an agreement, with the company licensing the same technology to Aurubis Buffalo Inc for US manufacturing and distribution in 2008.

Aurubis, the Germany-based copper smelter and semis producer, announced increased operating earnings before tax of €140M (US$188M) in the final quarter of 2012*, compared to €86M in the previous year (US$116M). Despite an improved group level performance, Aurubis noted weaknesses in its copper semis business, saying "sales volumes were down on the previous year due to weak markets." The company attributed the weak sales to poor demand from Southern Europe and a typical seasonal slowdown in Q4, however, the company noted a slightly better environment in North America. In their outlook for the coming year, Aurubis said they expect weak conditions to remain in Europe in the coming months, but expect stronger demand from North America and the Far East. The company said that they are experiencing slower demand for wire used in automotive harnesses but hope that wirerod will replace some of the current weakness. In other semis sectors, Aurubis expects better global demand for flat-rolled products and stronger appetite for copper shapes outside of Europe.