wiredinUSA September 2013

INDEX

Steel rope results

Fasteners joint venture

The Turkish steel wire and rope producer Celik Halat ve Tel Sanayii Inc has announced its financial results for the first half of 2013. In the second quarter, Celik Halat ve Tel Sanayii posted a net profit of $103,796, compared to a net profit of $1.05 million in the same quarter of 2012. The sales revenues of the company increased to $17.25 million, a year-on-year increase of just over 10 percent. However, the company has registered a net loss of $93,251 for the first half of the year, with sales revenues of $31.45 million, down 3.2 percent year-on-year. During this period, Celik Halat ve Tel Sanayii produced 27,589 tonnes of steel products, a 2.65 percent year-on-year increase. In the period under review, Celik Halat ve Tel Sanayii's steel rope output totaled 5,221 tonnes; galvanized wire production amounted to 884 tonnes, up 19.8 percent; spring wire output increased by 8.7 percent to 3,901 tonnes; while bead wire production decreased by 38.5 percent to 2,939 tonnes. Pre-stressed wire strand production increased, but the company reported zero production of single strand rope.

Following growth in demand for RotaBolt technology throughout South East Asia, and in particular from Taiwan, RotaBolt, in a joint venture with distributors Coretech, will open a new production facility in Taipei. The venture is 70 percent RotaBolt owned, and 30 percent Coretech, and the new plant will begin production in the late summer. “The take-up of our measurement technology has been dramatic,” said Rod Corbett, managing director of RotaBolt. “In the petrochemical sector, word has begun to spread about our successes in achieving leak-free operations – the potential for us is substantial. In time, this new facility will enable us to realize that potential.”

EUROPE NEWS

wiredInUSA - September 2013

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