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Colin Bennett

General Cable's CEO Discusses Q2 2011 Results - 1 views

seekingalpha.com/...sults-earnings-call-transcript

trends Copper General cable

shared by Colin Bennett on 05 Aug 11 - No Cached
  • In ROW, our strategy of introducing a broader product range into developing markets helped to offset the impact of lower-than-expected volume across a number of countries. The uneven demand experienced during the second quarter is largely episodic, as the fundamental growth drivers remain solid, and GDP rates for many emerging markets continue to outpace those in the developed world. Sequentially, our second quarter results reflect the impact of stronger demand in Venezuela, Brazil and Zambia. In Venezuela, the company benefited from higher spending on electrical infrastructure as the country works to reinforce a weak power grid. In Brazil, our results reflect the aerial transmission shipments and the introduction of specialty products as the country continues to industrialize while at the same time preparing for the World Cup in 2014 and the Olympic Games in 2016. In Zambia, our results reflect the shipment of aerial transmission products as the government invests in expanding its power grid. In addition, we strengthened our market position and product range in Colombia, Peru, Australia, South Africa and Mexico. In Mexico, we recently qualified and supplied our first high-voltage cables. Our market penetration into Mexico continues ahead of expectation, and is supported by a state-of-the-art manufacturing facility with high-voltage capabilities ranging up to 225 kilovolts and a comprehensive line of products for electric utilities and contractors. Overall, our results in ROW continue to demonstrate the non-linear nature of our business in the short-term, as construction, mining and utility products are moved between reporting periods, government appropriations are authorized and infrastructure investment plans are advanced.
Colin Bennett

Prysmian S.p.A. First-Quarter Results 2014 - 1 views

www.yourpowertransmissionnews.com/uarter+results+2014_33893.html

trends copper demand

shared by Colin Bennett on 13 May 14 - No Cached
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  • Energy cables and systems performance and results- Utilities results impacted by Western Link project execution problems- Growing power transmission order book- Signs of recovery for building wires (t&i); power distribution still weak- Industrial cables: weak start for OEM & Specialties and O&G offshore; good performance for elevators and automotive
Jon Barnes

Mueller Industries posts weaker Q2 earnings - 0 views

groups.diigo.com/trends

shared by Jon Barnes on 22 May 08 - Cached
  • Jon Barnes on 22 May 08
     
    US speciality brass mill Ansonia Copper and Brass Inc. has announced that it will lay off 85 of the 102 employees at its Liberty Street, Ansonia, factory in Connecticut. The plant manufactures copper alloy rod and wires. Company President Raymond McGee said "it's a very, very difficult situation". He blamed the redundancies, on top of 76 employees laid off in April 2007, on the company's struggle with escalating costs. Since 2002 electricity costs have soared 239%, natural gas 200%, fuel oil 125%, and copper and nickel 500% apiece. Ansonia's other facility in Waterbury, CT, which manufacturers copper alloy tube is unaffected by the announcement.
  • ...13 more comments...
  • Jon Barnes on 22 May 08
     
    Tough times in the US brass mill industry
  • Ruth Chapman on 28 May 08
     
    Dowa Metanix announces capacity increase Company announces new pickling line and facility renewal Dowa Metanix, the rolled copper maker of the Dowa Metaltech group announced it will invest around ¥2 billion (US$ 19 million) in a new pickling line and renewal facility during the current fiscal year which began in April 2008. The new pickling line is expected to begin operations early in the fiscal year 2009 and the new line and improved facilities are expected to improve the firm's cost competitiveness. The company then said it plans to expand output capacity by 40% to 1,200 tonnes per month by 2010 as it tries to improve productivity to increase its supply for connector pins and semi conductor lead frames.
  • Jon Barnes on 02 Jun 08
     
    In the past few days world leading cablemaker Nexans has announced one acquisition, one new joint venture and one asset disposal. On the 30th May, Nexans acquired Intercond a leading Italian manufacturer of special cables for industrial equipment and subsea applications. The company had sales of €90m and employs 150. "This [€90m] acquisition fits totally in the Group's strategy by increasing the proportion of its business in high value-added special cables", said Gerard Hauser, Chairman and CEO of Nexans. On the 2nd June, Nexans released a press report confirming that it has formed a joint venture to create a wire and cable plant in Qatar, the country's first manufacturing facility. Qatar International Cable Company (QICC) is owned 29% by Nexans with the balance being owned by Special Projects Company and Al Neama Industrial Co. The new plant in the industrial city of Mesaleed, 40km from Doha, and will employ 210 people. By the end of 2009 it will begin manufacturing low and medium voltage cables for buildings and energy infrastructure as well as special cables for the oil and gas industry. This JV will generate sales of $150m per year by 2010 at current copper prices. Finally, Nexans confirmed that it has completed the pre-announced sale of its copper telecom cable plant at Santander in Spain to the British company B3 Cable Solutions for €17m. These three actions continue to refocus the group's strategy on priority market segments.
  • Jon Barnes on 03 Jun 08
     
    Hot on the heels of the news that Nexans was to build a joint venture in Qatar to construct the country's first wire and cable factory , comes today's news that El Sewedy Cables of Egypt is also to build a $150m power cable plant in Qatar. The 30,000tpy capacity plant will start operating at the end of 2009 or early 2010 and will mostly sell to the domestic market. El Sewedy will own 50% of the company and Qataru based Aamal Holding will hold the remainder. El Sewedy is currently building new cable factories in Algeria and Saudi Arabia, with both expected to start later this year.
  • Jon Barnes on 05 Jun 08
     
    Turkish copper semis producer Sarkuysan expects its output of copper products (wirerod, wire, tube and billet) to rise from 185,000 tonnes in 2007 to around 200,000 tonnes in 2008. According to the General Manager Hayrettin Cayci, "The market is forcing us to increase production as demand, particularly in Turkey, is very healthy", adding that demand came mainly from a Turkish property construction boom. "There's a big boom in demand for energy cables. Plus developed European countries have pulled away from cable production and they're mainly supplying from countries like Turkey". However, high copper prices have eroded profit margins so the company is focussing on more higher value products. He expected total Turkish copper demand (refined and scrap) to rise above 500,000 tonnes this year, from 450,000 tonnes now, and by 2010 he expected demand would reach 600,000 tonnes. Refined copper consumption is currently around 300,000 tonnes.
  • Ruth Chapman on 06 Jun 08
     
    The Exsym Corporation, the joint venture between SWCC Showa Holdings and Mitsubishi Cable Industries, has announced plans to expand its exports of ultra high voltage cables to the Middle East and South East Asia. In order to meet this increase in demand, a horizontal sheathing line has been transferred to the company's Aichi plant in Japan. This will bring the number of sheathing lines for ultra high voltage cables at the plant to three, once the transferred line begins commercial operation over the summer. Exsym also plans to renew one of the two conductor stranding lines at the Aichi plant with the new line expected to begin commercial operation in November 2008. With these new lines as well as an increased number of construction staff, copper cable capacity at the plant is expected to grow by around 200 tonnes per month to 1,200 tonnes per month. In the fiscal year 2007, Exsym posted revenue of ¥41 billion ($0.39 billion) with an operating profit of almost ¥2 billion ($0.02 billion). Exports of ultra high voltage cables to the Middle East and South East Asia accounted for around 40% of the total revenue. The company expects the increase in export capacity to increase revenue to ¥43 billion ($0.41 billion) per year by the end of the fiscal year 2010.
  • Jon Barnes on 09 Jun 08
     
    Mitsubishi Shindoh is to invest Yen6-7 billion to expand production of copper strips at its Sambo plant in Osaka, Japan. This will increase capacity from 3,200 tonnes per month (tpm) to 4,200tpm by March 2010. In addition, the company will transfer 800tpm of copper strip production from its plant in Wakamatsu, Fukushima, Japan, bringing total production capacity to 5,000tpm. Mitsubishi Shindoh will also spend Yen6 billion to improve its copper alloy strip capabilities at its Wakamatsu plant. Productive capacity will remain at 6,500tpm, but with an increased ratio of high quality products. As a result, total company capacity will grow by 40% to 11,500tpm. Mitsubishi Shindoh is a copper and copper alloy fabricator within the Mitsubishi Materials Group. Japan mills have recently seen a strong growth in orders from the semiconductor, leadframe, connector and automotive industries, and clearly expect this to continue.
  • Jon Barnes on 10 Jun 08
     
    Hindalco Industries and Sterlite Industries - the two privately owned Indian copper smelter/refinery/rod producers - are considering changing their domestic pricing mechanism for copper due to the dramatic rise in oil prices. At present, a uniform pricing system for customers all over the country is in place, however, the companies are mulling a change to ex-works pricing. This would mean that customers would be charged a different price depending on their delivery destination from the smelter. To balance the recent hike in fuel prices, they had recently started levying a Rs2/kg freight charge across the country irrespective of distance. Diesel is used in firing the furnaces while furnace oil is used in running them. The total fuel cost is estimated at 10-12% of the price of copper, with 1% of this being the transportation cost. The fuel price hike has not affected domestic copper demand as yet, but a prolonged period of this sentiment may hit many developing infrastructure projects badly.
  • Jon Barnes on 12 Jun 08
     
    Jiangxi Copper said it expects Chinese refined copper consumption to grow at 8-10% this year driven by investment in the power industry. Power generation accounts for between 50-60% of all copper used in China. Damage to power generation capacity caused by this year's earthquake in Sichuan province will require a major rebuilding program which will also stimulate copper consumption. Chinese refined copper imports fell by 23% year on year between January and April, however, this decline was at least partly explained by a 23% expansion in Chinese refined copper production during the period. Wu Yuneng, General Manager of JCC Southern Copper said, "We need more concentrate and scrap rather than refined copper".
  • Susanna Keung on 13 Jun 08
     
    Four major Japanese copper tube producers plan to reduce production by 4% year-on-year to 84,220 tonnes in total during the first half of the fiscal year 2008 (April 07-March 08). It is reported that demand for copper tubes has fallen because of the inactive construction industry as well as high copper prices. The construction industry saw a major slowdown last year after the introduction of new building regulations. All four producers expected this weak trend to continue. Sumitomo Light Metal is the only producer who plans to increase its output estimate, but only by 1% year-on-year. Kobelco & Materials Copper Tube says that it would decrease normal tube output for export to adjust the inventory level at its Malaysian operation. Furukawa Electric and Hitachi Cable said they would need to focus more on their commercial tube businesses. It is believed that the tube market has also been hit by substitution from aluminium.
  • Ruth Chapman on 16 Jun 08
     
    As of the 30th May, the Optical Cable Corporation acquired Superior Modular Products Incorporated (known in business as SMP Data Communications) in a deal worth $11.5 million. SMP Data Communications is now a wholly owned subsidiary of the Optical Cable Corporation. The President and CEO of Optical Cable, Neil Wilkin, said the acquisition would enable the company to expand its product offerings with more complete cabling and connectivity solutions, including fibre optic and copper connectivity. SMP Data Communications manufactures more than 2,000 products including cutting edge Category 6a connectivity solutions which offer a 10 Gig throughput.
  • Susanna Keung on 17 Jun 08
     
    A subsidiary of Japanese company Sumitomo Electric Industry Group, Sumitomo Electric Wintec Inc, has recently developed a new type of winding wire. The HGZ is a scratch-resistant winding wire for varnish impregnation for compressor motor. The company has started selling this new type of winding wire. This new development improves the adhesive tendency of varnish which solves the problem of varnish impregnation in fixing coil from traditional scratch-resistant winding wire. It also improves the energy efficiency of motor as it forms coil with higher density. Sumitomo Electric Wintec specialises in copper-based magnet wire and it serves mainly the manufacturers of air conditioners, automobiles, refrigeration equipment and televisions.
  • Jon Barnes on 01 Jul 08
     
    Luvata's ECO-Heatcraft division has launched a new technology for its air conditioning and refrigeration systems based upon using carbon dioxide as a refrigerant. The company believes that, as well as offering zero ozone depletion and less effect on global warming, the use of carbon dioxide can also allow more efficient operation of the system than traditional refrigerants. Luvata claims that, "The higher volumetric efficiency of carbon dioxide (known as R744) means that the cross sectional area of pipes used in heat transfer equipment can be reduced. As a result, equipment has the potential to be smaller, lighter, more efficient and better for the environment". The development of smaller diameter pipes with reduced wall thicknesses would tend to favour existing inner grooved copper tube based designs rather than emerging aluminium based technologies.
  • Jon Barnes on 22 Jul 08
     
    Further evidence of the impact of the North American economic slowdown on copper demand has recently been published by the ABMS and government statistical bodies. North American copper wirerod production plummeted 9.6% year-on-year to 174,000 tonnes in April. Output had been on a downward trend but the magnitude of the deterioration in April has still come as something of a surprise. A year-on-year increase of 2.0% in North American output January had been followed a 1.0% fall in February and a 2.7% drop in March. In April Canadian output was flat year-on-year due to improving export sales to the US, while US production fell 9.8% year-on-year and Mexican shipments slumped by 17.5%. On a year-to-date basis North American wirerod production was 2.9% lower in the four months to April 2008. Weakening demand from the automotive industry, coupled with a resurgance in copper prices and the return of Russian wirerod imports has clearly led to a deteriorating market situation for domestic mills.
  • Jon Barnes on 23 Jul 08
     
    Mueller Industries second quarter results highlight the tough times that the US brass mill industry is facing, but that companies can still operate profitably in a challenging market environment. The company's plumbing and refrigeration segment saw sales fall 11% to US$404m, while its operating profits dropped 32% to US$35m. The company blamed lower shipment volumes and lower spreads for the weaker performance. Sales at the company's OEM division, which includes its brass rod activities, rose 10% year-on-year to US$354m, while its operating profits rose 5% to US$19m. The improvement here is due to acquisition of Extruded Metals. Commenting on the results Harvey Karp, Chairman of Mueller Industries said "Mueller's earnings for the first half of 2008 were achieved despite the continuing decline in the housing industry, the sub-prime mortgage meltdown, the turbulence in the financial markets, rising metal costs, sky-high energy prices and a slowing national economy. Considering these adverse circumstances, we are pleased with the results."
xxx xxx

Spain to Cut Subsidies for Solar PV, not Solar Thermal - 0 views

www.sustainablebusiness.com/...16449

energy policy solar

shared by xxx xxx on 23 Jul 08 - Cached
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  • xxx xxx on 23 Jul 08
     
    Last week the Spanish government announced plans to cut subsidies for solar photovoltaic (PV) power by about 75%. Although the nation expects to surpass its 2010 goal for installed solar by four fold, the down side is that generous subsidies for the industry have resulted in a ballooning tariff deficit for the country, which has risen to 4.85 billion euros, upfrom 745 million last year. Reuters reported that lending to the Spanish photovoltaic plants has risen to $3.59 billion in the year to day, up from $230.9 million euros last year and $192.44 million in 2006. As a result, the Spanish government will as the energy regulator to cap subsidies for new PV solar capacity at 300 megawatts (MW) per year--200 MW for rooftop systems and 100 MW for ground-mounted systems, which have been the highest growth area. CSP has been slower than PV technology in its emergence on the renewable energy scene, but expectations for the technology, which focuses the heat of the sun to produce steam to drive electricity producing turbines. Projects underway in the U.S. and Spain are expected to produce electricity that is cost-equivalent to electricity produced from burning coal or natural gas.
Colin Bennett

Energy volatility reflects lack of investment in oil industry - 0 views

www.ft.com/...25-11dd-b2a5-0000779fd2ac.html

energy trends copper

shared by Colin Bennett on 22 Jan 09 - Cached
  • Colin Bennett on 22 Jan 09
     
    Although volatility in most assets is sharply lower than it was in November, oil price volatility has continued to climb. This rise in volatility, and resulting near $30-a-barrel oil price, is reflecting the same imbalances in the energy market that $147 oil did last summer: namely inadequate investment in basic infrastructure to produce, deliver, store and distribute energy. Last summer, attention focused on shortages in production capacity. However, present underlying shortages in storage and transportation are creating massive price distortions across the energy complex. Storage and transportation capacity provides the system with a buffer to supply-and-demand shocks by allowing it to run surpluses and deficits that smooth the normal cyclical swings in prices. As global storage capacity has failed to keep pace with growth in global demand over the past three decades, this buffer has shrunk relative to the size of the market, resulting in chronically higher than normal price volatility. Once infrastructure begins to constrain the ability of the market to run imbalances, prices have to create more of the adjustment process. Electricity markets are an extreme case of this. As power cannot be stored, supply must always equal demand, leaving price as the only mechanism to force the adjustment process. Accordingly, electricity is the most volatile of all assets. Due to inadequate infrastructure investment over the past several decades, oil is looking more like the electricity markets.
Panos Kotseras

Italy - Prysmian announces 2008 sales results - 0 views

www.prysmian.com

Italy Prysmian copper cable sales results

shared by Panos Kotseras on 26 Jun 08 - Cached
  • Ruth Chapman on 26 Jun 08
     
    Prysmian Cables & Systems said it expects its Chinese sales volumes to increase by 50% by 2010, an increase which has been aided by the opening of the company's fifth production plant in China. The company's sales increased by 16% year-on-year in 2007 and said that further growth opportunities were linked to the development of new infrastructure for energy and communications. Prysmian's new plant will be based in Tianjin and is expected to have an annual capacity of 10,000tpy including special cables for e.g. rail networks, mining and windfarms.
  • Panos Kotseras on 06 Mar 09
     
    Prysmian S.p.A has announced its sales results for 2008. Sales amounted to Euro 5,144 million, exhibiting a 4.2% y-o-y organic growth. Adjusted EBITDA reached Euro 542 million, with a sales margin of 10.5% compared to 10.3% in 2007. Adjusted net income was Euro 332 million, up by 11% y-o-y. The group achieved strong performance in its utilities business, which grew by 12.1% y-o-y. This is attributed to positive performance of high voltage underground and submarine cables. The trade and installers business contracted by 5% due to the slowdown in the construction industry. Industrial cables exhibited organic growth of 5% mainly because of positive performance in the oil and gas, and renewable energy sectors.
Panos Kotseras

US - General Cable's Q4 2008 sales results - 0 views

www.generalcable.com/GeneralCable

US General Cable sales results

shared by Panos Kotseras on 11 Feb 09 - Cached
  • Panos Kotseras on 11 Feb 09
     
    General Cable Corporation has announced its sales results for Q4 2008. In volume terms, sales in Q4 2008 contracted by 6.3% y-o-y. In the same period, operating income decreased by 17.8% y-o-y to US$76.4 million. The company attributed the decline in its operating income to weak demand in developed economies and lower capacity utilisation. Sales to Europe and North Africa contracted by 7.8% y-o-y, particularly due to lower demand and pricing for construction products in Spain, and weakening activity across Europe. In North America sales fell by 6.6% y-o-y, as the company experienced reduced demand for high metal content copper telecommunication and low voltage cables.
Panos Kotseras

France - Nexans announces Q1 results - 0 views

uk.reuters.com/...idUKLL6076120090422

Nexans sales results

shared by Panos Kotseras on 22 Apr 09 - Cached
  • Panos Kotseras on 22 Apr 09
     
    Nexans, the world's largest cable maker, has announced its sales results for Q1 2009. In the three months to March 31, sales amounted to 1.245 billion euros (US$1.61 billion), down by 28.5% compared with the same period in 2008 at constant metal prices. Net debt at the end of Q1 was reduced to 362 million euros (US$468 million) compared to 536 million euros (US$693 million) at the end of Q4 2008. The company said that in response to the economic crisis, it will accelerate restructuring and cut the workforce by 900. Nexans has restructured its business in Canada while it intends to shut down its Building Cable business in Germany. Further plans may be announced mainly in Europe.
Panos Kotseras

Europe - Aurubis & Luvata see signs of market stabilisation - 0 views

www.bloomberg.com/...news

Aurubis Luvata copper semis

shared by Panos Kotseras on 28 May 09 - Cached
  • Panos Kotseras on 28 May 09
     
    Aurubis said that demand for its products bottomed in April and showed some recovery signs in May. As a result of weakening demand in Q1, the company cut copper wirerod output by 25% to 168,000t. The company planned to cut working hours in its copper wirerod plant in Hamburg but the measure was not implemented as demand strengthened. Luvata reported that its copper semis sales contracted on average by 25% y-o-y in Q1. The worst hit end-use sectors were the automotive and construction industries, which plunged by 40% y-o-y in Q1. In response to the economic crisis, the company has cut production in the US, Europe and China. Both Aurubis and Luvata said that as their customers have kept stocks to a minimum the market now experiences stabilisation. Luvata highlighted that its recent demand increase may be only the result of restocking. Also, extended summer holidays will impact this rebound.
Susanna Keung

USA - International Wire announced second quarter results - 0 views

itwg.client.shareholder.com/releasedetail.cfm

international wire results sales copper

shared by Susanna Keung on 11 Aug 09 - No Cached
  • Susanna Keung on 11 Aug 09
     
    International Wire Group announced results for the second quarter ended 30 June 2009. Net sales for the quarter were US$102.0 million, compared to US$199.9 million for the same period in 2008. The decline was due to a lower copper price and decreased volume. Operating income for the second quarter was US$1.3 million compared to US$10.9 million. The lower income was attributed to lower sales volume in all business segments but was partially offset by operating cost reductions and lower selling and administrative expenses. Net loss was US$0.9 million, compared to net income of US$5.6 million.
James Wright

Japan - Wire and cable manufacturers announce results for FY2010-2011 - 0 views

www.japanmetaldaily.co.jp/...index.php

copper demand Japan cable wire results

shared by James Wright on 17 May 11 - No Cached
  • James Wright on 17 May 11
     
    Five major Japanese wire and cable producers recently announced financial results for FY2010-2011, all but one of which showed positive signs of growth in profitability. Sumitomo Electric Ltd. and Furukawa Electric Co.'s profits rose while Showa Cable Systems Co. returned to positive net profit. Hitachi Cable Ltd. suffered losses, although they decreased y-o-y. Fujikura Ltd. saw its profits decrease. The results of all companies were said to have been constrained by weak demand from the construction sector, which has not fully recovered. However, those companies producing automotive wiring harnesses benefited from strong auto demand.
xxx xxx

Copper slumps to 5-week low on weak Chinese demand - 0 views

news.moneycentral.msn.com/...providerarticle.aspx

china copper

shared by xxx xxx on 25 Jul 08 - Cached
  • Copper prices tumbled to a five-week low Thursday on expectations that falling demand from China and a slowdown in the U.S. housing market will lead to a surplus of the metal. Other commodities traded mixed, with crude oil rebounding slightly and gold, silver and soybeans falling. Corn and wheat futures rose. China, the world's biggest buyer of copper, has been importing less of the metal since the completion of most major construction projects heading into the Beijing summer Olympics. Copper imports in June fell 20 percent compared to May, China's custom's agency said this month. As a result, stockpiles of the metal have swelled in Shanghai and London, helping drive down prices.
  • xxx xxx on 25 Jul 08
     
    Copper prices tumbled to a five-week low Thursday on expectations that falling demand from China and a slowdown in the U.S. housing market will lead to a surplus of the metal. Other commodities traded mixed, with crude oil rebounding slightly and gold, silver and soybeans falling. Corn and wheat futures rose. China, the world's biggest buyer of copper, has been importing less of the metal since the completion of most major construction projects heading into the Beijing summer Olympics. Copper imports in June fell 20 percent compared to May, China's custom's agency said this month. As a result, stockpiles of the metal have swelled in Shanghai and London, helping drive down prices.
Panos Kotseras

US - Mueller's 2008 sales results - 0 views

www.muellerindustries.com

Mueller 2008 sales

shared by Panos Kotseras on 05 Feb 09 - Cached
  • Panos Kotseras on 05 Feb 09
     
    Mueller Industries, Inc. has announced its sales results for 2008. Net income in 2008 amounted to US$ 80.8 million, compared with US$ 115.5 million realised in 2007. Net income in Q4 2008 reached US$ 7.8 million compared to US$ 28.8 million in the same period in 2007. The company attributed the sharp contraction in its Q4 income mainly to weak shipments and the lower average cost of copper. The plumbing and refrigeration segment has been hit by slowing demand and higher per unit conversion costs on lower production volumes. In addition, European copper tube activities were interrupted for approximately four weeks due to a fire. In response to the ongoing economic crisis, the company's strategy for 2009 is to readjust operations and reduce costs.
Susanna Keung

Japan - Fujikura announced first quarter sales declined 28.7% - 0 views

www.fujikura.co.jp

japan wire cable fujikura sales

shared by Susanna Keung on 10 Oct 08 - Cached
  • Panos Kotseras on 10 Oct 08
     
    Fujikura Dia Cable (FDC), the joint venture of Fujikura and Mitsubishi Cable Industries, announced a 14% year-on-year decline in their building cables shipment for the period April-September 2008. FDC describe the current situation as a difficult one, especially due to weak demand. The manufacturer, facing decreased inventory value due to falling copper prices, has to sell at relatively low prices reducing profit margins. FDC cable shipments fell by 8% in 2007 and the initial target for 2008 was to grow back to the 2006 level. However, this was revised down because of sales results. Overall profitability is also affected by rising prices of insulating and sheathing materials.
  • Susanna Keung on 05 Aug 09
     
    Japanese electric wire and cable manufacturer Fujikura Ltd reported consolidated financial results for the first quarter ended 30 June 2009. The company achieved sales of ¥112.93b (US$1.19b) for the first quarter, 28.7% lower than the same period a year ago. Operating income for the first quarter was ¥1.84b (US$19.4m), 50.3% lower than the year-ago level. Net income for the same period was ¥111m (US$1.17m), 94.3% lower than a year ago. The company is expecting to make a net loss of ¥800m (US$8.43m) for the first half ending 30 September 2009.
Susanna Keung

Supportive International reported Q3 net profit of MYR1.5 million - 0 views

announcements.bursamalaysia.com/...8A515DD7B56B82482576940032E5A1

Malaysia wire cable quarter result 2009

shared by Susanna Keung on 23 Dec 09 - Cached
  • Susanna Keung on 23 Dec 09
     
    Malaysian wire and cable company Supportive International Holdings Bhd reported financial results for the third quarter ended 31st October, 2009. Q3 revenue was MYR18.9 million (US$5.5 million), down from MYR31.1 million (US$9.1 million) for the same period in the previous year. Net profit for the third quarter was MYR1.5 million (US$0.4 million), compared to MYR2.4 million (US$0.7 million) a year ago.
James Wright

Leoni announces strong first quarter 2011 results; cites strong automotive demand - 0 views

www.leoni.com/News-Details.176.0.html

Copper Leoni cable results automotive

shared by James Wright on 12 May 11 - No Cached
  • James Wright on 12 May 11
     
    Leoni AG, the global cables specialist, has announced Q1 2011 revenues of €910.7M, up by 38% y-o-y. This was principally attributed to strong demand for cable harnesses and wiring systems, particularly from the Chinese and international commercial vehicle industry. The company has spent €21.9M in expanding production capacity at its facilities in Eastern Europe, North Africa and Latin America. In light of these results Leoni has raised its annual sales forecast for 2011 to €3.4B, up by 15% on last year.
Colin Bennett

Leoni will continue to expand its commercial vehicles business with innovative products... - 0 views

www.yourcableandwirenews.com/elated+technologies_34489.html

trends copper automotive substitution

shared by Colin Bennett on 25 Jul 14 - No Cached
  • “We have developed several new solutions, which can provide clear weight and cost saving opportunities to manufacturers of such commercial vehicles as  trucks, buses as well as agricultural, industrial and construction equipment”, stated Dr Andreas Brand, member of Leoni AG’s Management Board with responsibility for the Wiring Systems Division. “We are confident that we will grow our business with the CV industry by more than five per cent per year until 2025.”Alternative conductors save weight and costIn terms of weight optimisation, Leoni can reduce the harnesses’ weight by replacing conventional wires. Alongside copper wires with smaller cross-sections, the Company provides the CV market with a range of wires made of aluminium for the power segment, i.e. with a cross-section between 10 mm2 and 110 mm2 and even larger. Although the aluminium conductors have a larger cross-section in order to deliver the same electrical conductivity, aluminium technology results in a noticeable weight reduction. On its booth, Leoni will show its busbar, a solid aluminium conductor, which can be bent in three dimensions and weighs only about half as much as the conventional copper component.Leoni will also show various conductor solutions based on copper. These can be used where mechanical strength as well as electrical conductivity is required. For example, a copper wire with a cross-section of 0.75 mm² could potentially be replaced by a smaller wire cross section, such as a 0.50 mm² or a 0.35 mm². Thanks to the use of less conductor material, Leoni’s customers can not just reduce the weight of their vehicles, but also benefit in terms of cost savings.
  • Colin Bennett on 25 Jul 14
     
    ""We have developed several new solutions, which can provide clear weight and cost saving opportunities to manufacturers of such commercial vehicles as trucks, buses as well as agricultural, industrial and construction equipment", stated Dr Andreas Brand, member of Leoni AG's Management Board with responsibility for the Wiring Systems Division. "We are confident that we will grow our business with the CV industry by more than five per cent per year until 2025." Alternative conductors save weight and cost In terms of weight optimisation, Leoni can reduce the harnesses' weight by replacing conventional wires. Alongside copper wires with smaller cross-sections, the Company provides the CV market with a range of wires made of aluminium for the power segment, i.e. with a cross-section between 10 mm2 and 110 mm2 and even larger. Although the aluminium conductors have a larger cross-section in order to deliver the same electrical conductivity, aluminium technology results in a noticeable weight reduction. On its booth, Leoni will show its busbar, a solid aluminium conductor, which can be bent in three dimensions and weighs only about half as much as the conventional copper component. Leoni will also show various conductor solutions based on copper. These can be used where mechanical strength as well as electrical conductivity is required. For example, a copper wire with a cross-section of 0.75 mm² could potentially be replaced by a smaller wire cross section, such as a 0.50 mm² or a 0.35 mm². Thanks to the use of less conductor material, Leoni's customers can not just reduce the weight of their vehicles, but also benefit in terms of cost savings."
Matthew Wonnacott

Chinese demand for cathode does not keep pace with imports in 2012 - 0 views

www.bloomberg.com/...ecember-on-demand-outlook.html

Copper China trends Imports Demand

shared by Matthew Wonnacott on 21 Jan 13 - No Cached
  • Matthew Wonnacott on 21 Jan 13
     
    According to data from Chinese Customs, Chinese final imports of refined copper totalled 238,828t in December, a fall of 4 7% m-o-m from November, and the second lowest reading of 2012. Despite this, full-year imports of refined copper in 2012 surged to their highest year on record, at 3.4Mt, as a result of the large volumes of copper being imported on long term contracts in 2012. While the pickup in imports of refined copper was strong in 2012, demand from downstream users did not match the pickup in imports. According to a report from Reuters, this has resulted in large amounts of cathode sitting in bonded warehouses rather than being absorbed by the domestic market.
Matthew Wonnacott

International Wire Group announces 5.3% y-o-y jump in operating income - 0 views

itwg.client.shareholder.com/releaseDetail.cfm

wire US copper trends

shared by Matthew Wonnacott on 25 Mar 13 - No Cached
  • Matthew Wonnacott on 25 Mar 13
     
    International Wire Group, the US-based fabricator of copper wire, announced on 22nd March that its full-year operating income for 2012 increased by the 6.9% y-o-y to US$57.5M, a record level. The company said that its total pound-for-pound of wires sold, which are primarily copper and copper alloy wires, increased by 5.3% y-o-y in 2012. The company said "our strong full year operating results were driven by increased customer demand in our bare wire business, primarily from the automotive/specialty vehicles market." International Wire Group also announced fourth quarter results, with operating income increasing by 9.6% y-o-y, whilst its pound-for-pound of wires sold decreased by 3.6% compared to the fourth quarter of 2011. This was because a higher proportion of the group's business came from tolling contracts in the fourth quarter - whereby end-users provide the refined copper to be converted into wire.
Vivienne Lloyd

Better results for Aurubis despite weakness in semis sales - 0 views

www.aurubis.com/...-three-months-201213-published

Copper wirerod Aurubis shapes flat-rolled Europe semis harnesses

shared by Vivienne Lloyd on 15 Feb 13 - No Cached
  • Vivienne Lloyd on 15 Feb 13
     
    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.
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