WCA May 2016

12 / 64

10 Wire & Cable ASIA – May/June 2016
Industrynews
Capacity increase at
joint venture
KOBE Steel Ltd and partners Sugita Wire Ltd and China’s
Fasten Group have agreed to increase the production
capacity of their Chinese joint venture that processes
special steel wire rod into wire.
The joint venture, Jiangyin Sugita Fasten Spring Wire Co
Ltd (also called JYSF), will install high-frequency induction
tempering equipment and another wire drawing machine
to produce oil-tempered wire at its plant in Jiangyin,
Jiangsu Province. Plans call for mass production to start
in October 2016.
JYSF was established in 2005 to produce and sell
oil-tempered wire for cold-coiled suspension springs.
Full-scale operation began in 2007. JYSF has been
providing a stable supply of this high-quality wire in China,
where the automotive market is anticipated to grow over
the medium to long term.
As the need for lighter automobiles increases due to
stricter environmental regulations, demand for advanced
oil-tempered wire for cold-coiled suspension springs is
anticipated to expand in the future.
The installation of induction tempering equipment will
make possible rapid quenching and tempering to produce
high-strength wire.
Jiangyin Sugita Fasten Spring Wire Co Ltd – China
Website:
❍ The JYSF plant in Jiangyin, Jiangsu Province, China
Steep increase in profits
CMI Limited, a speciality cables manufacturer, has
announced its unaudited financial results for the quarter
ended 31st December 2015.
The revenues are at Rs 66.44 Cr in Q3 2015-2016 as
against Rs 36.78 Cr in Q3 of 2014-15, showing an
increase of 80.66 per cent. The revenues have also
increased by over 15 per cent on a QoQ basis, up from
Rs 57.57 Cr in Q2 2015-16.
The Profit after Tax (PAT) at Rs 4.81 Cr in Q3 2015-2016,
against Rs 2.01 Cr in Q3 of 2014-15, marks an increase of
139 per cent in profitability. The PAT has also increased
by over 19.66 per cent on a QoQ basis, up from Rs 4.02
Cr in Q2 2015-16.
CMI Ltd – India
Website: