EoW May 2009

The International Magazine for the Wire and Cable Industries

Looking to the East I n May and June this year, the wire and cable industry will be looking to the CIS to find out what’s newest and best in our sector. EuroWire’s March issue included a preview of wire and Tube Russia 2009; and this issue introduces Wires & Fasteners Kiev. While the global outlook remains grim, Russia is weathering the storm. Despite a forecast contraction of 2 per cent of GDP this year the Russian stock market is said to have grown, with shares climbing 20 per cent over the last three months; the rouble has stabilised since it was declared the third worst performing currency (Russia’s central bank now holds reserves estimated at $400 billion); and a stable oil price of just over $50 a barrel is helping to fund Russia’s ambitious stimulus package and planned infrastructure spending. Reliant though it is on exports, Russia’s economy may be better placed to withstand the global economic vagaries than those countries, such as the UK, that have become increasingly dependent on the financial and service sectors as generators of the national wealth. In June 2008 the Russian government announced an increase in infrastructure investment to over €650 billion over 15 years. In 2008 spending reached $420 billion, the majority of which went into the railway network. The political will to invest in infrastructure, and the unwillingness to renege despite the current climate, appears to be attracting foreign investment too. Although workers within the CIS countries are facing the same concerns as their counterparts elsewhere In Europe (shorter working weeks for less pay, for example) the government approachseems tobe slightlydifferent, and the result will be interesting to witness.

* US$33 purchase only Front cover: Zumbach Electronic AG See page 104 for further details E ditor :........................................ Gill Watson F eatures E ditor (USA) : ..........Dorothy Fabian E ditorial assistant : .................Christian Bradley D esign /P roduction : ................Julie Tomlin P roduction : ...............................Lisa Benjamin S ales M anager : ........................Paul Browne S ales & M arketing : .................Giuliana Benedetto ( I nternational )

Italian speaking sales Hendrike Morriss German speaking sales Linda Li Chinese speaking sales Jeroo Vandrevala Indian sales

A dvertisement C oordinator : ............................Liz Hughes A ccounts M anager : ................Richard Babbedge S ubscriptions : ...........................Liz Hughes P ublisher : ..................................Caroline Sullens F ounder : ....................................John C Hogg

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E ditorial Dorothy Fabian

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Perhaps visitors and exhibitors inMoscow will find the Russian spirit of optimism andconfidence(what I’ve heard described as “the survivor trait” in the Russian personality) will prove contagious.

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US copies only : EuroWire (ISSN No: 1463-2438) is published bi-monthly by INTRAS Ltd and distributed in the US by DSW, 75 Aberdeen Road, Emigsville, PA 17318-0437. Periodicals postage paid at Emigsville, PA. Postmaster : send address changes to EuroWire, PO Box 437, Emigsville PA 17318-0437 www.read-eurowire.com © 2009 Intras Ltd, UK ISSN 1463-2438

Gill Watson

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