EoW July 2007

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EuroWire – July 2007 19
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:
Website :
Xinhua Metal
annual report
The annual report of Xinhua Metal
Products Co, Ltd, China, issued on
28th 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 2nd 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
Email:
Website:
PERCON
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 •
®
RoHS Compliant
ASTM, AS, EN and Mil-Spec