By | 2014-11-04 10:51:33

New Delhi: The country’s largest two-wheeler maker, Hero MotoCorp Ltd, on Sunday reported a 8.05% decline in its sales in October to 5,75,056 units. The company had sold 6,25,420 units of two-wheelers in October 2013. The company said it clocked sales of over 1 million two-wheelers during the 37-day festive period, which started on 25 September (first day of Navratras) and lasted until 31 October 2014. Hero MotoCorp said it has lined a total investment of over Rs.5,000 crore across the world, including manufacturing plants in Colombia and Bangladesh, and the new plants coming up at Gujarat and Andhra Pradesh, and the Hero Global Centre for Research and Design at Kukas in Rajasthan.

By MDM| 2014-09-05 14:05:28

The Fastenal Company (Nasdaq: FAST), Winona, MN, reported sales for August of $326.9 million, a 9.8 percent increase over the same period a year ago. Daily sales increased 15 percent to an average of $15.6 million.   During the month, sales to manufacturing customers grew 14 percent, while sales to nonresidential construction customers grew 9.4 percent. Two new stores opened in the month and employee headcount increased 12.8 percent year-over-year to 18,210.

By Ken Liu| 2014-08-01 09:47:55

The Foxconn Technology Group of Taiwan will reportedly use self-made “Foxbot” to assemble Apple's iPhone 6, which will be the world's first smartphones to be assembled by robots.   According to online media 9to5 Mac, Foxconn, Taiwan's No.1 ITC subcontractor by revenue, is preparing to automate assembly with robots, with the iPhone 6 to be the first to roll off the lines.   Each of the 10,000 Foxconn robots for the assembly lines costs US$20,000-25,000 and can assemble 300,000 smartphones on average.   Media reported Hon Hai chairman Terry Gou as saying that the robots are in the final testing stages and won't be for sale to outsiders due to insufficient volume for internal use, on which Foxconn has declined to comment.   Industry executives feel such robotic automation is the group's first step to boost production efficiency and its next step is to further enhance competitiveness by linking the robots to the Internet of Things to enable inter-communication.   They said the group's factory in the Henan Province capital of Zhengzhou, China, will be the group's first plant to deploy robotic production for it has assembled iPhones mostly at this location.   They  also noted that such automation shows the group's breakthrough in robotic manufacturing after Gou pledged in 2011 to build an army of one million robots in three years, with Gou saying the group will add 30,000 robots annually.   Industry executives sayid Foxconn's robots will play only an auxiliary role initially, mainly to install screws on housings, assemble exterior parts and polishing, and that the group's robots have achieved technical breakthrough in boosting defect-free assembling.   After allying with Softbank of Japan to invest in robotic manufacturing, Foxconn plans to partner with American enterprises on such technology and Google is reported to be a partner.   The group will later use robots in healthcare and household applications. Driven by the news on the latest Foxconn-Apple deal and more new Apple products to be launched in H2, 2014, industry executives estimate Foxconn's earnings-per-share at NT$8.97 for 2014 (up 9.4% YoY), NT$10 for 2015 and NT$10.54 for 2016. (KL)    

By Associated Press| 2014-07-30 11:06:48

BEIJING (AP) — General Motors Co. and its main Chinese partner are recalling nearly 20,000 imported Cadillac SRX sport utility vehicles and Chevrolet Camaros to replace defective seat bolts. GM said 25 July the defect might allow seats to descend to their lowest position, possibly causing a safety hazard. The company did not say how many of each type of vehicle were being recalled. In total it is recalling 19,836 vehicles. This is GM's third recall in China in 14 months. In December, the company and its main Chinese partner recalled 1.5 million vehicles to replace a fuel pump bracket. In May 2013, they recalled imported SRX sport utility vehicles to adjust nuts on wheels    

By MDM| 2014-07-29 09:44:09

Diversified manufacturerPrecision Castparts Corp.(NYSE: PCP), Portland, OR, reported sales for the fiscal first quarter ended June 29 of $2.5 billion, up 6.8 percent year-over-year. Organic sales increased 4 percent. Profit increased 14.2 percent to$484 million."Commercial aerospace activity is and will continue to be the single biggest driver of our growth in fiscal 2015," said CEO Mark Donegan."We also saw solid upward shifts in orders from our customers in power markets." Investment cast products sales increased by 1 percent in the first quarter to $625 million. Forged products sales were $1.1 billion, up 2.9 percent year-over-year. Airframe products sales increased 18 percent to $807 million.

By Würth Group| 2014-07-25 10:06:56

In the first half of 2014, the Würth Group generated overall sales of EUR 5,020 billion. This corresponds to a year-over-year growth of 2.8 percent. Except for Italy, all problematic countries succeeded in generating growth again. There are clear signs that Spain, for instance, has bottomed out as they succeeded in generating a sales plus of almost nine percent. Robert Friedmann, Chairman of the Central Managing Board of the Würth Group, said: "We want to close the year 2014 with a new sales record. Although the focus of our business activities is on Europe, the strong euro has a negative impact on the development of sales. However, we do not expect further negative influences in the second half of the year." The operating result of the Würth Group is clearly growing. At EUR 235 million, the operating result is up 14.6 percent over last year (previous year: EUR 205 million). "The good order situation of our customers and the economic development are a tailwind for us and we are therefore looking optimistically at the second half of the year," Friedmann adds. In the first half of 2014, the number of employees increased to a total of 64,891, which corresponds to a growth of 2.1 percent (December 2013: 63,571). In Germany, the Würth Group has a total of 19,744 employees, while the Würth companies abroad account for 45,147 of the Group's employees. In the second half of 2014, we expect the trends of the of the last six months to continue. It seems very likely that we will achieve a new sales record by generating more than ten billion euros.

By Wang Xin、Yao Chun| 2014-07-23 09:48:24

ASHINGTON, July 22  -- The U.S. government determined on Tuesday it would maintain the existing antidumping duty orders on steel threaded rod and malleable iron pipe fittings from China, despite Beijing's repeated calls for Washington to drop protectionism. The U.S. International Trade Commission (ITC) concluded in a ruling that revoking the current antidumping duty orders on these products from China would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time. It is the first "sunset review" for the antidumping duty order on imports of steel threaded rod from China, which was introduced in 2009. The antidumping duty margin on this product runs from 47. 37 percent to 206 percent. This is the second "sunset review" for the antidumping duty order on imports of malleable iron pipe fittings from China, which was first issued in 2003. The antidumping duty margin on the product runs up to 111.36 percent. A "sunset review" was conducted every five years after anti- dumping and countervailing duties were introduced. The Uruguay Round Agreements Act requires the U.S. Department of Commerce to revoke an anti-dumping or countervailing duty order, or terminate a suspension agreement, after five years unless the department and the ITC determine that revoking the order or terminating the suspension agreement would likely lead to the continuation or recurrence of dumping or subsidies and of material injury within a reasonably foreseeable time. The Chinese Ministry of Commerce has repeatedly urged the United States to abide by its commitment against trade protectionism and work together with China and other members of the international community to maintain a free, open and just international trade environment

By MDM| 2014-07-21 00:00:00

The Bossard Group, Switzerland, reported sales for the first half of CHF 321 million (US$359.5 million), an increase of 3 percent year-over-year. As reported in local currencies, sales grew 5.6 percent.In the second quarter, group sales increased 2.8 percent (5.5 percent in local currencies) to CHF 159.6 million (US$178.8 million). In Europe, half-year sales rose to CHF 208.2 million (US$233.2 million), up 7.1 percent in local currency. In America, sales were CHF 65.7 million (US$73.6 million), down 5.6 percent in local currency. This revenue decline is due primarily to weaker demand from a major customer. In Asia, sales were CHF 47.1 million (US$52.7 million), up 17.6 percent in local currency. Growth in Asia is largely the result of business from new customers.

By MDM| 2014-07-14 09:23:25

The Fastenal Company(Nasdaq: FAST), Winona, MN, reported sales for June of $321.3 million, an increase of 18.3 percent from the previous year. Daily sales increased 12.7 percent to an average of $15.3 million.During the month, sales to manufacturing customers grew 12 percent, while sales to nonresidential construction customers grew 8.8 percent. Five new stores opened in the month and employee headcount increased 15.1 percent year-over-year to 18,135.

By Steel Guru| 2014-07-10 10:13:58

Indian steel wire rod market has been subject to turbulence in the past couple months taking the maximum brunt of appreciating INR and undue price escalation in domestic market.   Unilateral hike in long steel price levels in India over the last couple of months has kindled importers interest with global price level remained low under Chinese selling pressure and rather uncertain market in Middle East. It is learnt that nearly 25000 tonnes of WRC is being imported every month at Mumbai port alone. The booking levels are in the range of USD 520-525 per tonne, CFR Mumbai in Mild Steel grade. Per Ton Indian mills are selling WRC at INR 39000 per tonne in Mumbai (basic excl ED & VAT) thereby giving huge parity advantage of INR 4311 per tonne for import. Hitherto India was destination for High Carbon grade WRC but with the big shift in parity WRC in mild steel grade has found its way into the Indian market.