Flow l gets multi-million dollar aerospace contract
Publish on 9/14/2009 11:09:31 AMFlow International Corp. has received a contract worth in excess of $5 million to manufacture and install a composite machining centre abrasive waterjet and routing machine tool system. The machine will be used for a major single aisle airframe program. "Over the past decade, waterjets have become the standard for meeting the aerospace industry''s production requirements as lighter weight composites have become the preferred material.
ArcelorMittal buys Noble BV's laser welding
Publish on 9/14/2009 11:09:03 AMArcelorMittal has completed the acquisition of all the issued and outstanding shares of Noble European Holdings B.V. (Noble BV), a Dutch private limited liability company engaged in laser welded blanks operations primarily in Europe. The definitive purchase agreement with Noble BV''s parent Noble International Ltd was filed for reorganisation under the bankruptcy laws of the United States on 15 April 2009.
Worldsteel reports June 2009 crude steel production
Publish on 9/14/2009 11:09:57 AMWorld crude steel production for the 66 countries reporting to the World Steel Association (worldsteel) was 99.8 million metric- tonnes (mmt) in June. This is 16% lower than in June 2008. China''s crude steel production for June 2009 was 49.4mmt, 6% higher than June 2008. Japan produced 6.9mmt of crude steel in June 2009, down by -33.6% compared to the same month last year. South Korea recorded a decline of -14.4% from June 2008, producing 4mmt of crude steel in June 2009. In the EU, Germany''s crude steel production was 2.5mmt in June 2009, a decrease of -41.1% from June 2008.
Rio Tinto gets US$2B bid for Alcan branch
Publish on 9/14/2009 11:09:20 AMRio Tinto has received a binding offer from Amcor to acquire the majority of the Alcan Packaging businesses, comprising Alcan Packaging global pharmaceuticals, global tobacco, food Europe and food Asia divisions, for a total consideration of US$2.025 billion. Rio Tinto recently announced the sale of the Alcan Packaging food Americas division to Bemis Company Inc. for US$1.2 billion. The remaining beauty packaging division will be divested separately.
Malaysia shows drop in June manufacturing sales
Publish on 9/14/2009 10:09:09 AMMalaysia''s manufacturing sales is down by 25.5 percent in June 2009 to RM39.3 billion (US$1.11billion) compared last year. The fall was led by a dip in basic iron and steel products, the Department of Statistics reported. The agency said the drop in 75 of the 116 manufacturing industries, representing 64.7% of total sales, pulled down the country''s manufacturing sales overall. On a monthly basis, however, June sales rose 6.7 percent, after an increase in the sales value of 80 of the 116 manufacturing industries, representing 69 percent of total sales.
Allied Technologies sells property in Singapore
Publish on 9/14/2009 10:09:10 AMPrecision stamped metal parts manufacturer Allied Technologies is selling one of its properties in Singapore for S$3.4 million (US$2.3 million). The firm said it has entered into an option agreement with J-R Marine & Engineering to dispose of its asset at 15 Bukit Batok Street 22. The sale is in line with its plan to realise its non-income generating assets. Allied Technologies is shifting its operations out of Singapore to lower-cost manufacturing plants in the region.
Steel, aluminium use drive India's metal transport markets
Publish on 9/14/2009 10:09:34 AMNew analysis from Frost & Sullivan (automotive.frost.com), Strategic Analysis of Metal Transportation Market in India finds that transportable metal production volume in the country stood at about 50 million tonnes in 2008, and expects this to reach nearly 79 million tonnes in 2014. A total of 194 memorandum of understanding have been signed by various state governments with steel manufacturers for a total planned capacity of about 243 million.
Tata Steel seeks JV with Vietnam iron ore firm