EuroWire January 2015

News Corporate

A trusted tool…

Refractron’s Izory® rolls and rings are a trusted tool for drawing non-ferrous wire. Izory is Refractron’s magnesia partially stabilised zirconia (MgPSZ). This may also be described as transformation toughened zirconia (TTZ). The proprietary formula, powder processing expertise and unique firing cycle creates outstanding mechanical properties that differentiate Izory. Izory has exceptional fracture toughness, which is durable enough for the machining and polishing required for manufacturing engineered parts. While Izory® is renowned for its fracture toughness, it is the combination of toughness, hardness, strength and corrosion resistance that makes it a choice for wire drawing parts. Izory has a proven track record as a long lasting material for manufacturing premium wire. It is specified for all multi-wire machines made by SAMP and is proven on machines made by major OEMs. Refractron’s speciality is manufacturing Izory rolls and rings for breaking down rod and drawing non-ferrous wire. Izory is also specified for annealer pins, spooler guides, buncher eyelets and air wipes. Industries served by Refractron in addition to wire manufacturing include mineral processing, waste water and oil and gas. Refractron Inc – USA Website : www.refractron.com

▲ ▲ Izory® rolls and rings from Refractron

Cut in debt and rising income In the first nine months of 2014, Repsol posted net income of €1.646 billion, a 27.9 per cent rise from the same period from the previous year. These results reflect Repsol’s financial strength and the good progress of its businesses. Adjusted net income, calculated at current cost of supplies (CCS), rose to €1.337 billion, a 9.6 per cent increase over the first nine months of 2013. These results are especially significant because they have been achieved in a context of falling crude oil prices during the last quarter, a slowdown in global demand and lower production in Libya. The company’s ability to generate revenue has allowed it to make the necessary investments to develop its business while drastically reducing debt. The campaigns carried out in the exploration and production area, in addition to other exploitation activities, have accounted for investments reaching €2.549 billion in the first nine months of the year, a 20.7 per cent rise from the year-earlier period. At the same time, the group reduced its debt by 72 per cent to €1.998 billion. All this enabled Repsol to close September with available liquidity of €10.448 billion, enough to cover its short-term debt maturities 3.6 times. Repsol – Spain Website : www.repsol.com Project developer RWE said that the halt in work was due to a planned five-year DNV GL inspection of the vessel. RWE Innogy GmbH – Germany Website : www.rwe.com Progress at Gwynt y Môr Routine inspection of the Polar Prince cable-laying vessel forced a temporary halt to cabling work at the Gwynt y Môr offshore wind farm off the Welsh coast. Work on the array cabling was suspended in late June, but has now resumed and is nearing completion, with only around 30 cables left to install from a total of over 160.

22

www.read-eurowire.com

January 2015