By www.steelorbis.com| 2013-07-30 15:58:40

According to a report released by the National Chamber of Iron and Steel Industry (CANACERO), apparent domestic consumption of liquid steel in Mexico fell 8.8% during the first five months of the year, to reach 9.12 million tons versus 10 million tons of same period 2012. Apparent domestic consumption of flat products fell 9.3% (4.29 million tons versus 4.73 million tons last year). Only consumption of cold rolled coil (CRC) grew, by 2.9% (1.32 million tons versus 1.28 million tons in the same period last year). Consumption of long products fell 4.7% from Jan to May to reach 2.94 million tons versus 3.08 million tons in the same period of 2012. As for steel production, CANACERO reported that from Jan to May, crude steel production in Mexico had an annual decline of 0.4% to reach 7.48 million tons versus 7.52 million tons during the same period of last year. Compared with April production, May crude steel production grew 5.2% to reach 1.49 million tons, versus 1.41 million tons in April. Regarding the production in May 2013 compared to May 2012, crude steel production fell 2.1%. Most flat products reflected a decrease in annual production during the first five months of the year. Only cold rolled coil (CRC) grew, by 9.2% to reach 1.17 million tons. For long products, production of rebar and structural profiles increased 3.8% (1.48 million tons) and 9.2% (178,345 tons) respectively.  

By mdm| 2013-07-30 15:06:28

B/E Aerospace Inc., Wellington, FL, reported sales for the second quarter of $850.3 million, an increase of 10.7 percent compared to the same period a year ago. Profit increased 29.8 percent to $92.4 million. Second-quarter commercial aircraft segment sales increased 9.9 percent; operating earnings of $79.7 million increased 14 percent compared with the prior-year period, and operating margin of 18.5 percent expanded 70 basis points, due to operating leverage at the higher revenue level and ongoing operational efficiency initiatives. Consumables management segment sales increased 9.1 percent; operating earnings of $61.3 million increased 10.5 percent, and operating margin of 19.6 percent expanded 20 basis points from 2012 levels. Business jet segment sales increased 19.3 percent while operating earnings of $17.7 million increased 42.7 percent from the prior-year period. Operating margin of 16.6 percent expanded 270 basis points as compared with the prior year period, reflecting the increase in revenues, an improved mix of revenues and ongoing operational efficiency initiatives. For the first six months, sales for B/E were $1.7 billion, an increase of 11.7 percent year-over-year. First-half profit increased 30.2 percent to $182.3 million.  

By Xinhua| 2013-07-29 10:02:31

The U.S. Federal Aviation Administration (FAA) is proposing a 2.75-million-U.S. -dollar civil penalty against Boeing Co.'s commercial airplanes unit for allegedly failing to maintain its quality control system in accordance with approved FAA procedures, according to a file released on July 26 by the Administration. The FAA says that in September 2008, Boeing discovered it had been installing nonconforming fasteners on its model 777 airplanes. The FAA sent a letter of investigation into the issue the next month. The FAA alleges that Boeing repeatedly submitted action plans that set deadlines for the accomplishment of certain corrective actions, but subsequently failed to implement those plans. The company implemented a plan to address the fastener issue on Nov. 10, 2010, more than two years after Boeing first learned of the problem. Boeing stopped using the nonconforming fasteners after officials discovered the problem. However, some of the underlying manufacturing issues continued to exist until after the corrective action plan was in place. Boeing has 30 days from the receipt of the FAA's civil penalty letter to respond to the agency.  

By www.taipeitimes.com| 2013-07-26 09:58:58

China Steel Corp, the nation’s only integrated steelmaker, said on July 19th it would keep its domestic steel prices for September shipments unchanged from the July-August contract prices, following two consecutive cuts since last month. The company attributed its latest decision to an easing of oversupply in China and higher prices of iron ore — a raw material for making steel. Because of overproduction in China, the Taiwanese company in April lowered its prices for June shipments by an average of NT$442 per tonne, and last month cut prices for July and August contracts by NT$1,000 per tonne. Daily production by Chinese mills reached 2.08 million tonnes during the first half this month, down from last month’s 2.18 million tonnes and May’s between 2.15 million and 2.2 million tonnes, China Steel vice president Liu Jih-gang said by telephone. As a result, China’s Wuhan Iron and Steel Co, Baosteel Group Corp and Angang Steel Co Ltd raised their prices recently, Liu said. US steel companies also increased prices recently, while major Japanese and European mills are likely to follow suit, Liu said, adding: “We have a feeling that global steel prices have touched bottom.” Steel demand in Taiwan is stable, and the company expects the local economy to perform better in the second half, Liu said. However, given the proliferation of cheap steel products, the company decided to keep steel prices unchanged for a month while it considers whether to raise prices in the future, he said. Lin Chung-yi, another vice president at China Steel, said the price cuts for July and August contracts would mean a sequential fall in sales this quarter. However, revenue and profit for this quarter would increase from a year ago because of higher production volumes and improved cost control, he said. (Source: www.taipeitimes.com)  

By Shanghai Daily| 2013-07-26 09:41:34

Shanghai Daily reported that Mr MA Guoqiang has stepped down as general manager of Baoshan Iron & Steel Co, China's largest listed steel company to join Wuhan Iron & Steel Group. Wuhan Steel said that the 50 year old Hebei Province native was appointed by the State-owned Assets Supervision and Administration Commission as the general manager of the central Hubei Province based steel company. He was replaced by Mr Dai Zhihao vice general manager of Baosteel Group Corp parent of Baoshan Steel. Ma became the vice general manager of Baosteel Group in 2001 and general manager of Baoshan Steel in 2009. Source - Shanghai Daily

By Fastener + Fixing Magazine| 2013-07-25 13:58:59

The October meeting of the British Association of Fastener Distributors will focus on why certain types of fasteners are vulnerable to failure, why the causes are not always as straightforward as is sometimes assumed and what fastener companies can do both technically and legally to minimize exposure to consequential liability claims. A special trail membership package opens this very important meeting to UK fastener distributors generally. As events in San Francisco over recent months have dramatically demonstrated the consequences of fastener failure can be massive and extraordinary expensive. Fastener suppliers are often the first to be accused of responsibility even though subsequent investigation may prove that environmental factors were a major contribution. Bill Eccles of Bolt Science, recognized as one of the UK’s leading specialist in fastener failure analysis, will look specifically at failure as a result of hydrogen embrittlement, exploring both causes emanating from the production and coating of high strength fasteners and environmental contamination of these fasteners once in application and under stress. He will also identify fastener types particularly vulnerable to these types of failure. BAFD has also invited a senior partner of a UK contract and business law practice to explore what fastener companies should look out for in customer contracts and how they should approach their own conditions of sale and business practice to minimize the risk of consequential liability claims, which in today’s litigious culture can easily run into millions. The Association is also hoping to have a speaker considering liability insurance and how best to ensure fastener companies are best covered. The meeting is open to all BAFD members but, in view of the significance of the topics under discussion to fastener distributors generally, the Association is offering a limited number of three-month trail memberships including lunch and meeting attendance for one delegate, for GB￡100 + VAT. Fastener distributors taking up this offer, as well as potentially saving their business many times more than this cost, will have the first hand chance to understand what BAFD offers, get to know existing members, and have the option to confirm membership on a pro-rated basis for the balance of the year. The BAFD meeting will be held on Thursday 17th October 2013 at the Menzies Welcome Hotel, Stratford upon Avon. Members and guests are welcomed with a buffet lunch from 12:45. The meeting starts at 14:00 and continues until around 17:30.

By Fastener + Fixing Magazine| 2013-07-25 13:56:45

Koninklijke Nedschroef Holding has formally inaugurated a new production site for subsidiary Nedschroef Fasteners Kunshan Co., Ltd. The ceremony took place 5th – 6th June at the Jinxi eco-industrial park, Kunshan (between Shanghai and Suzhou). The plant was planned and constructed in a seven month period. A Nedschroef 5 series multistage header on show at the Shanghai Fastener Expo was the second unit of its type destined for the new plant. Nedschroef first establish a trading business in China in 2006. The new plant will supply high specification automotive fasteners.

By wuerth| 2013-07-23 10:18:26

The Würth Group closed the first half of 2013 with total sales of EUR 4.9 billion. This corresponds to a year-over-year decrease of 3.0 percent, which can be attributed to the difficult economic environment in key markets such as Germany, especially in the first quarter of the year 2013. The long winter, for example, hindered sales growth in the strategically important construction sector. The unstable economic situation in Southern Europe is adding to this development, putting a drag on Würth's business for several years now. After adjusting for the Group's solar activities, which have been abandoned in the meantime, the overall decline in sales comes to 0.8 percent. The operating result was stabilized on the level of the previous year at EUR 205 million.   Robert Friedmann, Chairman of the Central Managing Board of the Würth Group, regards the situation as challenging, but is nonetheless optimistic for the second half of the year. "It cannot be denied that the general economic situation is working against us at the moment. Often this can be felt in lower total order values. However, the second quarter of 2013 is already pointing towards a recovery. Other leading indicators such as incoming orders in our electronics group or the development of our automotive businesses give us reason to expect stronger sales growth in the Würth Group over the next six months."   Examples of profitable business operations in the first half of the year include the Wood Group in North America, Würth Group China, the electronics company eiSos as well as a number of South American subsidiaries. In times of economic crisis, Würth's regional diversity as well as its great variety of different business segments has again proven its worth.  

By mdm| 2013-07-23 09:48:13

MW Industries, Rosemont, IL, a portfolio company of private equity firm Genstar Capital, has acquired Mohawk Spring, Schiller Park, IL, a custom precision spring manufacturer. Mohawk manufactures precision springs, wire forms and rings. The main industries served by Mohawk include heating, cryogenics, hydraulics, electrical distribution, irrigation, computer technology, home appliance, construction equipment, medical device and aerospace. The company's products are used as components for both consumer end users and industrial applications. Typical end products include valves, regulators, coupling devices, pumps, door mechanisms and electronic assemblies. Mohawk is ISO-9001 certified. Bill Marcum, CEO of MW Industries, said the company has completed five acquisitions in the last two years and is currently evaluating a number of additional strategic acquisitions. MW Industries Inc. is a provider of highly engineered springs, specialty fasteners and other precision components to more than 23,000 customers in over 35 countries. Its 40,000+ products are sold to original equipment manufacturers and aftermarket customers in a number of industries, including medical, aerospace, electronics, agriculture/construction, automotive replacement, energy and military.    

By AFJ| 2013-07-15 16:28:21

The U.S. Court of International Trade (CIT) denied the request by Nucor's fastener division for a final investigation in regards to imported steel fasteners from China and Taiwan. This reaffirmed the U.S. International Trade Commission's (ITC) negative injury determination in the preliminary-phase countervailing and anti-dumping duty investigations. The fastener importers had previous win a favorable ruling by the ITC in 2009.