wiredInUSA April 2016

INDEX

Belgian steel wire maker Bekaert reports that it anticipates strong demand from the automotive sector in 2016, adding that lower steel prices would reduce revenues but that margins should improve. Bekaert, a producer of steel wire for 25 percent of global tire production, added that it has increased profits by selling more higher-priced products and exiting unprofitable business lines. Operating profit in 2015 rose 36 percent to $246.5 million, representing a profit margin of 6.1 percent. The group believes it could expand this margin further towards its medium-term target of seven percent in 2016. Predicting growth in the automotive sector

Transmission contract

Abengoa has been awarded a contract to construct two new electric substations and the associated transmission lines in northeast Oman. The company will be responsible for the construction, supply, assembly and commissioning of 132/33kV substations, one located in Samad and the other in Sinaw, for theOman Electricity Transmission Company (OETC). The construction project is expected to last for two years. Abengoa is already developing OETC’s Al Dreez substation.

wiredInUSA - April 2016

33