wiredinUSA December 2011

Bekaert hit by China competition

Lives endangered by copper theft

Patients’ lives were put at risk after the theft of several meters of copper cabling from a hospital in Sidcup, Kent, UK in the early hours of 11 th November. The cabling was connected to the hospital’s backup generator, which provides emergency power to the hospital’s wards and operating theaters. Director of estates and facilities Jonathan Pearce said: “We really are very angry and disappointed about this theft, which has thoughtlessly endangered the lives of patients. “This cabling provides emergency power for all of our wards and operating theaters and, if the external power supply had failed, there would have been no electrical power for the site. “After a short delay, we have been able to reconnect the backup generator this morning, but I am amazed that people are willing to behave in this callous way and put their own local hospital and community at such risk.”

Steel wire and coatings firm Bekaert has warned of tough trading conditions in China, due to competition and cost increases, although third-quarter sales fell by less than expected due to a strong performance in Latin America. Belgium-based Bekaert has invested significant resources in the Asia Pacific region where it employs more more than 10,000 of its 25,000-strong workforce in response to high demand for its steel wires, but sales there declined 24% against the same period last year. Bekaert says challenging trading conditions will continue in China, where an important market is for the supply of wire to cut silicon wafers for the electronics and solar power industries, and also predicted a growing impact from the global financial turbulence in most of its markets. Growth in Latin America, and automotive industry sales in Europe, helped offset the Asia Pacific pressures to leave third-quarter sales down 6 percent at €816 million.

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wiredInUSA - December 2011