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wiredInUSA - September 2012
wiredInUSA - September 2012
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INDEXBelgian steel wire manufacturer
Bekaert plans to make widespread cost
reductions after seeing its operating profit
plummet by around 65% in the first half of
2012.
The collapse in earnings is believed to
be due, in part, to a collapse in the solar
panel market last year, when profitability
for sawing wire products was wiped out by
overcapacity. Bekaert, whose wire is also
used to reinforce a quarter of the world’s
tires, said that the automotive sector also
faced slower demand, particularly in
Europe.
The company, which announced job
cuts in February, said it was seeking
additional annual savings of $123 million.
Bekaert shares have lost three-quarters of
their value since an early 2011 peak.
Call for cost cuts
Komax has confirmed an agreement with
Hamburg-based investor BPE regarding
the acquisition of all interests in TSK
Prüfsysteme GmbH of Porta Westfalica,
Germany. TSK is a supplier of products
and services for electrical and electronic
assemblies and components, particularly
wire harnesses, with a workforce of around
350. The acquisition will strengthen Komax’s
wire business sector.
TSK Prüfsysteme GmbH was established
in 1983, and wire harness testing systems
comprising test modules, measurement
systems, test benches and software are its
biggest business unit. TSK currently has six
production sites worldwide and generates
annual sales of around $31 million.
Komax acquisition
Element Power, owned by Hudson Clean
Energy Partners of the US, is planning to
build a 36MW wind farm at Monaincha in
Tipperary, Ireland. The Irish Times reported
that the project will utilize 15 turbines,
generating 2.4MW each, and is estimated
to cost over €70m.
Turbines forma largepart of the investment
involved and they are expected to cost at
least €30m. Element Power has reportedly
chosen Nordex as the preferred turbine
supplier.
Element Power Ireland chief development
officer, Kevin O’Donovan said the turbines
selected for Monaincha are designed to
operate at lower wind speeds than those
generally in use in the country. He added
that the company hopes to have the
turbines on-site in Tipperary in about 12
months’ time.
The Monaincha wind farm will supply
electricity to the Irish national grid.
Tipperary wind farm
A subsidiary of General Cable Corporation,
Norddeutsche Seekabelwerke GmbH
(NSW), has won the contract to supply
82km of medium-voltage submarine array
cables to E.ON’s Humber Gateway
offshore wind farm. Delivery of the cables
is scheduled for 2013.
Thorsten Schwarz, NSW’s MD, commented:
“We’re proud of having been chosen
by E.ON as the cable supplier for this
project. In the last months we’ve
continued to expand our subsea cable
production facilities based on the
expectations that offshore wind will take
on the expected importance in the future
European electricity generation mix. It
is good to see that investors like E.ON
continue to prove their commitment to
offshore wind by investing in projects here
in UK, as well as Sweden and Germany.”
The 73 turbine Humber Gateway offshore
wind farm, located 8km off the East
Yorkshire coast, is expected to generate
up to 219MW– enough electricity to power
up to 170,000 homes.
Cables to the Gateway