- Email: [email protected]
Better Q2 for stackpole after shaky start to 2001
In brief...
Belgian name change
Job done
as performance leaps
Phi Technologies of Temse, Belgium, has completed the refurbishment and modernisation of a large, hot isostatic press for Bodycote HIP in Chesterfield, UK. The Bodycote Group provides a range of metallurgical processing services from a number of locations worldwide.
Slim
grant
The Advanced Casting Research Center at Worcester Polytechnic Institute has been awarded a $11.4 million grant to investigate “Low cost and energy-efficient methods for the manufacture of semi-solid feedstock”. The programme will be half funded by Government, with the balance coming from industry.
BOC acquisition
(
BOG Edwards has acquired the vacuum and pressure interests of Smiths Group for f12.8 million ($19 million}. The new acquisition includes Stokes Vacuum, Hick Hargreaves, Hibon and Wilhelm Klein (WKE) and will add around f50 million to BOC Edwards’ annual sales revenue.
Sandvik strong Sandvik AB reported third quarter operating profits of SEK 1,425 million, with 12month increases in both return on average capital employed (ROACE) and return on equity. ROACE was up 0.5 per cent to 18.7 per cent, while return on equity amounted to 15.5 per cent, up 0.8 per cent.
8
MPR
December
known as Union Miniere until September 1, posted strong first-half results despite what the company called “clear signs of an economic downturn”. Earnings per share easily matched a 26 per cent increase in operating profit on the equivalent period of 2000 - 34 per cent up. Strict capital management produced a ROACE up from 11.8 per cent in the first half of 2000 to 14.3 per cent in the first six months of 2001. Chief Executive Thomas Leysen said he was “particularly pleased” with the company’s performance in advanced materials and precious metals. “Both these groups succeeded in more or less doubling their operating profit, showing that the portfolio is well balanced and well able to withstand a slowdown in these areas.”
Umicore,
2001
And although times were tough in Umicore’s main markets, copper and zinc, there were positive signs for the Belgian concern. Demand for copper end products stagnated and prices fell to new lows. “Under these circumstances, we are pleased that we managed to improve our operating profit,” said Mr Leysen. Zinc remained a strong performer too. Although zinc prices declined by more than $150 a tonne, Umicore managed to limit the drop in earnings to 6 per cent - and to achieve a record return on capital employed in the business of 30.8 per cent. The general price negativity in the market was largely offset, said Mr Leysen, by improved cost performance in some plants, Umicore’s focus
on value-added products and the contribution from businesses acquired last year. Given the good half-year results at a time of general slowdown, Umicore is to continue its share buydback scheme.
n While Umicore demonstrated a strong first half performance, the prospects for the rest of the year are rather more gloomy. “The third yuarter has started to be affected by the fall in most metals’ prices, almost unprecedented in its speed and severity - especially for zinc,” said a company spokestnan. The company has revised downward by around 15 per cent its earnings per share projection for the full year as compared with yearend 2000.
Better Q2 for Stackpole after shaky start to 2001 Canadian automotive component manufacturer Stackpole reported improved results in its second quarter - 13 per cent up on the first quarter and in line with improved North American automotive production. The company employs more than 1,500 people at five operations centres in Canada and the UK. However, second quarter sales were more than 13 per cent down on the comparative period of 2000 as Stackpole’s major customers, General Motors and ~aimlerChrysler,
reduced production levels by 10 per cent from the previous year and continued to reduce inventories within their powertrain assembly plants. Taking a positive view, Chief Executive Robert J Lander said: “We are very pleased with the operating performance shown in our second quarter results. The severe downturn in demand from our automotive customers that was so evident in the first quarter has stabilised, and the measures that were taken to adjust our cost structure in tine with lower
demand have now taken effect. “As a result the company has achieved a level of financial performance that is greatly improved from the first quarter. Of greater significance is the fact that even with production volumes continuing at levels below 2000, we are confident that increasing volumes on new booked business coupled with operational improvement initiatives currently under way will result in further improvements in financial performance in the second half of 2001.”
www.metal-powder.net
Belgian name change
Job done
as performance leaps
Phi Technologies of Temse, Belgium, has completed the refurbishment and modernisation of a large, hot isostatic press for Bodycote HIP in Chesterfield, UK. The Bodycote Group provides a range of metallurgical processing services from a number of locations worldwide.
Slim
grant
The Advanced Casting Research Center at Worcester Polytechnic Institute has been awarded a $11.4 million grant to investigate “Low cost and energy-efficient methods for the manufacture of semi-solid feedstock”. The programme will be half funded by Government, with the balance coming from industry.
BOC acquisition
(
BOG Edwards has acquired the vacuum and pressure interests of Smiths Group for f12.8 million ($19 million}. The new acquisition includes Stokes Vacuum, Hick Hargreaves, Hibon and Wilhelm Klein (WKE) and will add around f50 million to BOC Edwards’ annual sales revenue.
Sandvik strong Sandvik AB reported third quarter operating profits of SEK 1,425 million, with 12month increases in both return on average capital employed (ROACE) and return on equity. ROACE was up 0.5 per cent to 18.7 per cent, while return on equity amounted to 15.5 per cent, up 0.8 per cent.
8
MPR
December
known as Union Miniere until September 1, posted strong first-half results despite what the company called “clear signs of an economic downturn”. Earnings per share easily matched a 26 per cent increase in operating profit on the equivalent period of 2000 - 34 per cent up. Strict capital management produced a ROACE up from 11.8 per cent in the first half of 2000 to 14.3 per cent in the first six months of 2001. Chief Executive Thomas Leysen said he was “particularly pleased” with the company’s performance in advanced materials and precious metals. “Both these groups succeeded in more or less doubling their operating profit, showing that the portfolio is well balanced and well able to withstand a slowdown in these areas.”
Umicore,
2001
And although times were tough in Umicore’s main markets, copper and zinc, there were positive signs for the Belgian concern. Demand for copper end products stagnated and prices fell to new lows. “Under these circumstances, we are pleased that we managed to improve our operating profit,” said Mr Leysen. Zinc remained a strong performer too. Although zinc prices declined by more than $150 a tonne, Umicore managed to limit the drop in earnings to 6 per cent - and to achieve a record return on capital employed in the business of 30.8 per cent. The general price negativity in the market was largely offset, said Mr Leysen, by improved cost performance in some plants, Umicore’s focus
on value-added products and the contribution from businesses acquired last year. Given the good half-year results at a time of general slowdown, Umicore is to continue its share buydback scheme.
n While Umicore demonstrated a strong first half performance, the prospects for the rest of the year are rather more gloomy. “The third yuarter has started to be affected by the fall in most metals’ prices, almost unprecedented in its speed and severity - especially for zinc,” said a company spokestnan. The company has revised downward by around 15 per cent its earnings per share projection for the full year as compared with yearend 2000.
Better Q2 for Stackpole after shaky start to 2001 Canadian automotive component manufacturer Stackpole reported improved results in its second quarter - 13 per cent up on the first quarter and in line with improved North American automotive production. The company employs more than 1,500 people at five operations centres in Canada and the UK. However, second quarter sales were more than 13 per cent down on the comparative period of 2000 as Stackpole’s major customers, General Motors and ~aimlerChrysler,
reduced production levels by 10 per cent from the previous year and continued to reduce inventories within their powertrain assembly plants. Taking a positive view, Chief Executive Robert J Lander said: “We are very pleased with the operating performance shown in our second quarter results. The severe downturn in demand from our automotive customers that was so evident in the first quarter has stabilised, and the measures that were taken to adjust our cost structure in tine with lower
demand have now taken effect. “As a result the company has achieved a level of financial performance that is greatly improved from the first quarter. Of greater significance is the fact that even with production volumes continuing at levels below 2000, we are confident that increasing volumes on new booked business coupled with operational improvement initiatives currently under way will result in further improvements in financial performance in the second half of 2001.”
www.metal-powder.net