TPT January 2007

Industry News

Completion of the raised capital is expected in the first quarter of 2007, subject to approval from Boulder’s shareholders, a bankable feasibility study, and a review by the Australian Foreign Investment Review Board. Dr Peter H Wallner, Boulder’s managing director, signed financial advisory and capital raising mandates with TNI, who are headquartered in Abu Dhabi. Boulder has appointed TNI to act as its exclusive financial advisor in relation to the funding of the Seamless Tube Project. TNI is a highly-reputable, multi-award winning investment company, ranked as a leading equity house in the UAE by Euromoney in 2005 and 2006.

UAE investment for Boulder’s seamless tube project

Boulder Steel Ltd, Australia, have announced funding agreement worth US$600mn from United Arab Emirates investment bank The National Investor (www.tni.ae). The capital will be used to invest in the Australian Seamless Tube Project including a state-of-the-art steel mill in Queensland and a potential seamless steel tube finishing

facility in the Middle East. This substantial progress will also involve the expansion of the Euro Forming Services (EFS) business. The Queensland-based steel mill and seamless tube plant will provide a predicted 350,000t/annum capacity, and is expected to produce seamless tubes mainly for use in the oil and gas industries. The development is based on Boulder’s research into the

seamless steel tube market which is set to grow at an average of 30 per cent a year in Australia and 10 per cent worldwide. The project is intended to lower Australia’s dependence on seamless tube imports, while also supplying the Pacific Rim market. As there are currently no seamless tube producers in Australia, this development is expected to be highly lucrative. Boulder will purchase equipment from Europe, India and Australia, with construction starting in January 2007 and full capacity expected in 2011.

fi A successful business agreement: (left to right) Mr Firdhose Coovadia, TNI’s managing director, Mr Abdulrahman Falaknaz, director of Boulder Steel Ltd, and Dr Peter Wallner, Boulder’s managing director

Boulder Steel Ltd – Australia Fax : +612 9419 2818 Email : admin@bouldersteel.com.au Website : www.bouldersteel.com.au

China’s Anshan order new PQF mill

Anshan New Steel Corp Ltd, China, has placed an order with SMS Meer, Germany, for the supply of a new seamless tube mill employing the PQF (premium quality finishing) process. The new order will be carried out in close cooperation with SMS Demag Innse SpA, Italy. The mill will be used to produce seamless tubes with diameters ranging from 73mm to 177.8mm, with a planned capacity of 250,000t per year. The mill is scheduled to go into full production at the beginning of 2008. SMS Meer will supply all the key components of the mill equipment, in addition to project management, supervision of erection and commissioning, and training of the operating personnel. Anshan, who successfully commissioned a conventional MPM (multistand pipe mill) plant in 2003, has now opted for the latest PQF technology for the production of seamless tubes. The new plant will be the third in China and the sixth worldwide to employ this technology. SMS Meer GmbH – Germany Fax : +49 2161 350 667

Fabtech organisers back Mexican machine tool exhibition

The American Welding Society (AWS), Fabricators & Manufacturers Association (FMA), and Society of Manufacturing Engineers (SME), have announced their joint support of machine tool technology exhibition, Tecma 2007. This exhibition – established in 1991 – will take place for the 12 th time at the Expo Santa FE complex in Mexico City, Mexico, from 6-9 March 2007. Organised by the Mexican Association of Machinery Distributors (AMDM), Tecma claims to be the only show in Mexico to specialise in machine tool technology, related equipment and peripherals. More than 164 exhibiting companies and 574 trade names are set to occupy over 21,600m 2 of exhibit space, with a prediction of over 10,000 visitors. Designed for those companies looking to distribute in southern Mexico or attempting to increase their market presence, Tecma will showcase technologies including welding, tools, CNC CAD/CAM flexible manufacturing systems, forming/fabricating, and metal cutting machines. All the main Mexican industries will be represented at Tecma, including automotive, electronics, HVAC, metal construction, chemical, and oil/gas.

Mexican Association of Machinery Distributors (AMDM) – Mexico Fax : +52 55 5531 6858 Email : jpvazquez@tecma.org.mx Website : www.tecma.org.mx Fabricators & Manufacturers Association International (FMA) – USA Fax : +1 815 484 7701 Email : info@fmanet.org • Website : www.fmanet.org

Email : info@sms-meer.com Website : www.sms-meer.de SMS Demag Innse SpA – Italy Fax : +39 02 2124 699 Email : innse@sms-demag.it Website : www.innse.com

10

J ANUARY /F EBRUARY 2007