Hungarian steel wire maker acquired by Czech Company

wirecableApril 18, 2011April 30, 2011

April 18, 2011April 30, 2011

Hungary’s D and D Drotaru has been acquired by Czech Trinecke Zelezarny, making it the biggest maker of steel wire and reinforcement bars in Central and Eastern Europe. The key product portfolio of the D & D Drotaru, employing 150 people and sitting in Miskolc, is cold drawn wire, stabilized......

Emirates Steel increase market share in 2010

wirecableApril 18, 2011April 30, 2011

April 18, 2011April 30, 2011

According to figures released by the company, rebar production increased by 7.5% in 2010 compared to 2009, while the output of wire rod went up by a significant 64.5%. Billet production increased by 150% in 2010 compared to the last three quarters of 2009, while the production of direct reduced......

New chairman for IWMA elected at 40th Annual General Meeting

wirecableApril 18, 2011April 30, 2011

April 18, 2011April 30, 2011

After three years as IWMA chairman Stephen Wood’s tenure of office ended on 2 February when he was succeeded by vice chairman Colin Dawson of Whi teleg g Machiner y Ltd. Executive board member Steve Rika was elected as the new vice chairman and Terry Robinson reelected honorary treasurer. Fulsome......

ElSewedy of Egypt to Delay Building Cable Factory in Libya

wirecableApril 18, 2011April 30, 2011

April 18, 2011April 30, 2011

ElSewedy Electric will delay investing $65 million to build a plant in Libya after unrest in the North African country. The company is said to be at very preliminary stages with minor investments made and they were in the process of getting a piece of land for the project. The......

Borouge awards US$169 million contract to Hyundai for construction of speciality plastics unit in Abu Dhabi

wirecableApril 18, 2011April 30, 2011

April 18, 2011April 30, 2011

Borouge has awarded a contract worth US$169 million to Hyundai Engineering and Construction of South Korea to build a cross-linkable polyethylene (XLPE) unit at its petrochemical plant in Ruwais, Abu Dhabi. With an annual capacity of 80,000 tonnes, the unit is an added value complement to the low density polyethylene......

Hindustan Cables Revival Under Consideration

wirecableApril 18, 2011April 30, 2011

April 18, 2011April 30, 2011

The Heavy Industry Ministry said that it has written to the steel ministry for considering sick state owned Hindustan Cables revival through Steel Authority of India. Mr A Sai Prathap minister of state for heavy industries informed the Rajya Sabha that “The Department of Heavy Industry has written to the......

CRU 5th Wire and Cable conferenceCRE

wirecableApril 18, 2011April 30, 2011

April 18, 2011April 30, 2011

CRU’s 5th Wire and Cable conference, incorporating the 32nd KMI Fibreoptics conference, will take place from 15-17 May, in Amsterdam, The Netherlands. Leading figures from the global wire and cable industries will be providing their insights, including Frank Dorjee, CEO & Chairman of the Board, Draka Holding NV, Noval Jamalullail,......

Finolex Cables to form JV with Corning Inc

wirecableApril 18, 2011April 30, 2011

April 18, 2011April 30, 2011

Finolex Cables Ltd and Corning Incorporated have executed an agreement to establish a 50/50 equity venture to market select telecommunication products in India. The venture is expected to be incorporated this year....

JSW to buy Ispat to become India’s largest steel producer

wirecableApril 18, 2011April 30, 2011

April 18, 2011April 30, 2011

Sajjan Jindal-led JSW Steel said it will buy controlling interest in Ispat Industries at an enterprise value of $3 billion to emerge as India’s largest producer of the commodity with an annual capacity of 14.3 million tonnes. As per the terms of the deal, debt-stricken Ispat will issue preferential shares......

Ramsarup to restructure Rs1,800 crore debt

wirecableApril 18, 2011April 30, 2011

April 18, 2011April 30, 2011

Ramsarup Industries, wire and TMT bar manufacturer, is going for corporate debt restructuring (CDR) to attract private equity (PE) investment. The company currently has Rs 1,800 crore debt in its books out of which 95% has been put under the CDR mechanism. The total debt is unevenly distributed among a......