wiredinusa July 2011

INDEX

The first-quarter report shows continued growth in Asia Pacific Wire & Cable Corporation’s revenue and gross profit. The company’s solid results are said to reflect a sustained customer demand for its principal manufactured products, particularly for power cable, enameled wire, and telecommunications cable, across the company’s major geographic markets. Revenues were $121.8 million, an increase of 16.1% from $104.8 million in the same period in 2010. Gross profit increased to $13.0 million, an increase of 13.5% from $11.4 million from the first quarter of 2010, though gross profit margin was 10.6%, compared with 10.9% a year ago. Net income attributable to APWC shareholders was $2.7 million, compared with $3.7 million in the same period in 2010, with basic and diluted earnings per share of $0.20, compared with $0.27 in the first quarter of 2010. www.apwcc.com Q1 2011 results from Asia Pacific Wire & Cable Picture : Pascal Thauvin

PolyOne moves into Asia

Beijing may need to cut power load to parts of the city by up to 1.02 gigawatts (GW) at some point in the summer months due to fast rising demand and limited supply capacity, the State Grid Corp of China (SGCC) has revealed. However, the latest forecast was smaller than earlier estimates of a maximum deficit of 3GW in the Chinese capital reported by local media in late April. Maximum power load in Beijing is expected to reach 19.1GW in summer, up 14.65% from last year’s peak of 16.66GW, SGCC said in a report on its website. Electricity consumed by air conditioners alone could top 8GW at some point in summer, or more than 40% of power load in the city. Improved outlook for Beijing power shortfalls

Kazakhmys the world’s tenth-largest copper miner, has secured a $1.5 billion loan from China to develop one of its most promising copper fields and to increase supplies of the metal to its largest market. Kazakhmys expects to conclude the full loan agreement with state-run China Development Bank this year, allowing it to develop its Aktogay field in Kazakhstan without selling a stake in the deposit to China’s Jinchuan Group Ltd. The Aktogay deposit contains an estimated 5 million tonnes of copper. Kazakhmys has said investment of around $2 billion will be required to bring the field into operation at an annual rate of 100,000 tonnes of copper-in-concentrate from 2015. The loan would be disbursed at close to market rates, chief executive Oleg Novachuk said, after signing amemorandum of understanding with China Development Bank vice-president Gao Jian. “Today, Kazakhmys supplies around 60 percent of its entire production to China,” Novachuk told reporters. “We are working on increasing our supplies to China.” Kazakhmys secures $1.5 bn China copper loan

PolyOne Corporation will open a new polymer distribution warehouse and sales facility in Shanghai, China on 1st July; the first entry point for PolyOne Distribution into Asia. “PolyOne Distribution [has] a backlog of customer requests to expand our distribution services globally,” said Stephen D Newlin, chairman, president and chief executive officer. “With our most recent investment in Asia, PolyOne Distribution is accelerating the globalization PolyOne has emerged as an important supplier of polymer materials, services and solutions in the healthcare industry and the initial focus of PolyOne’s investment in Asia will be servicing healthcare customers. However, the company plans to broaden its Asia distribution service to customers in other industries over the next year. and customer service offerings of this very important platform.”

ASIA NEWS

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wiredInUSA July

wiredInUSA July

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