EoW July 2007

english corporate news

Improving safety and speed Allseas Group, a Swiss offshore pipelaying company, has collaborated with DSMDyneema to improve the safety and speed of underwater pipe-laying using next-generation rope technology. The two companies have worked to replace traditional steel wire rope used to adjust pipelay stingers with a new product from BEXCOropes that is made with ultra-strong, lightweight polyethylene Dyneema® fibre. The new rope enables faster, easier and safer operations. Because of the heavy weight of the 150m steel wire rope, Allseas’ crews experienced difficult handling, and higher risk

of damage and injury. Also, corrosion shortened the rope’s useful life. In contrast, the new stinger adjustment rope with Dyneema® is easy to lift, durable, and can help avoid injuries. The high strength-to-weight ratio of Dyneema® polyethylene fibre enables use of thinner ropes that are easier to deploy, recover and store. The rope made with Dyneema® fibre only weighs 9.8kg/metre; steel wire rope of equivalent strength weighs about 65kg/metre.

Allseas Group SA – Switzerland Fax : +41 21948 3599 Email : info@allseas.com Website : www.allseas.com

Xinhua Metal annual report

PERCON ® RoHS Compliant ASTM, AS, EN and Mil-Spec

The annual report of Xinhua Metal Products Co, Ltd, China, issued on 28 th March, stated that the company’s total production was 177,400 tons, and increase of 26.52% compared to last year. Consolidated sales revenue was 1,005 million RMB, an increase of 21.55%, while net profit increased 69.73% to 53.673 million RMB. An announcement about important related party transactions was issued on 2 nd April, specifically a non-open issuing of new stock – not more than 1,310 million shares. The main shareholder, Xinyu Iron and Steel, will buy at least 70% of the new shares, which are not transferable in 36 months with its main assets. The other parties will pay an amount not more than two billion RMB. Their shares will be not transferable in 12 months. The par value of the new shares will be one RMB and the price will not be less than average stock price (code 600782 on the Shanghai Stock Exchange) of 20 days before announcement – not less than 5.373 RMB per share. The final price will be decided based on market situation and negotiating with the underwriter. The cash will be used for five projects, such as investment in manufacturing of wire and cable, including low relaxation pre-stressing steel strand, galvanising wire for pre-stressing, special conductor and oil-tempered spring wire, and the first phase of a 1,580mm sheet steel project, from agglomeration to hot and cold rolling mill. Xinhua Metal Products Co, Ltd – China Fax : +86 790 6460 999

Copper alloy conductors in bare, nickel, silver & tin plated fine & ultra fine wire, bobbins and stranded constructions.

FISK ALLOY CONDUCTORS, BVBA

Sint Amandsesteenweg 102 A2 bus3, 2880 Bornem, Belgium Tel: 32 3 744 04 40 • Fax: 32 3 744 04 45 • www.fiskalloy.com

Email : info@xinhuametal.com Website : www.xinhuametal.com

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EuroWire – July 2007