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Financial results
BUSINESS
Goodrich extends work with Malaysia’s CTRM GLOBAL AEROSPACE supplier Goodrich Corporation and Composites Technology Research Malaysia (CTRM) have signed agreements that establish CTRM as a centre of excellence for composites manufacturing, providing nacelle components for a number of commercial aircraft programmes. The contracts are valued at RM450 million for the next five years. The contracts will last for the life of the aircraft and CTRM projects the total contract value to be RM3.5 billion. Under these agreements, CTRM will expand its capabilities to include deliveries of larger, more complex components and composite assemblies for long-term programmes. CTRM
has been a component supplier to Goodrich Aerostructures since 2004. The Goodrich contract increases CTRM’s current book order of RM3 billion to approximately RM6.5 billion. The company expects this to increase to RM8.5 billion by the end of the year as new contracts are concluded. CTRM was established to develop a high technologybased industry in Malaysia in the areas of aerospace and composites, two industries identified by the Malaysian government as crucial to the industrial growth of the country. Goodrich Corp; www.goodrich.com CTRM; www.ctrm.com.my
LM Glasfiber boosts capacity in China WIND TURBINE blade manufacturer LM Glasfiber is expanding its operations in China. LM announced the construction of its third wind turbine blade facility in China in April this year. The facility in Qin Huang Dao, in Heibei province, had a planned capacity of three production lines but, as a result of customer growth and a positive outlook for the wind energy market in China, the company will now add another three lines. This will double the production capacity of the plant and increase the total number of employees to approximately 640. The turbine blades from the facility will be produced in November. The additional lines are expected to be commissioned in the third quarter of 2010.
REINFORCEDplastics
China is a strategically important market for LM Glasfiber, which is headquartered in Denmark. “Since we opened our first production unit in China eight years ago, we have seen tremendous growth and expanded our local footprint several times already in Tianjin and Urumqi,” says Ian Telford, VP Sales and Marketing. The capacity expansion at Qin Huang Dao is said to be based on a number of contracts signed with both Chinese and international wind turbine manufacturers which are expanding their business in China. LM Glasfiber; www.lmglasfiber.com
NOVEMBER/DECEMBER 2009
China’s XAC takes share in Austria’s FACC XI’AN AIRCRAFT Industry (Group) Company Ltd (XAC) of China is to acquire a majority share in FACC AG, a supplier of composite aircraft components based in Austria. On completion of the acquisition, XAC will hold 91.25% of the shares of FACC. XAC is a developer of military and commercial aircraft and part of the Aviation Industry Corpora-
tion of China (AVIC), a stateowned enterprise focused on the aircraft market. FACC, based in Ried, offers a range of composite products, including aircraft fairings, fuselages and wings. The transaction is expected to be finalised by the end of the 2009 fourth quarter. FACC; www.facc.at XAC; www.xac.com.cn
F-35 duct contract for TAI NORTHROP GRUMMAN has awarded a contract to produce composite air inlet ducts for the F-35 Lightning II Joint Strike Fighter (JSF) to Turkish Aerospace Industries Inc (TAI). The ducts are part of the aircraft’s centre fuselage, which US-based defence company Northrop Grumman produces for F-35 prime contractor Lockheed Martin. Northrop Grumman says that the five-year, US$28.4 million contract with TAI of Ankara, Turkey, will help the transition from its current production rate of approximately one F-35 centre fuselage per month, to an eventual rate of one per day. All F-35 centre fuselages are currently produced at Northrop Grumman’s Palmdale, California,
Manufacturing Centre. To date, all inlet ducts have been produced in the company’s Composites Manufacturing Centre in El Segundo, California. The first deliveries of ducts from TAI are scheduled for June 2010. TAI currently serves as a second source supplier of F-35 centre fuselages to Northrop Grumman. As part of plans to eventually produce 400 complete centre fuselages, TAI opened a new composites manufacturing facility in Ankara in 2008. That facility is currently producing composite sub-assemblies for the F-35 and will also fabricate the composite inlet ducts. TAI; www.tai.com.tr Northrop Grumman; www.northropgrumman.com
Financial results These stories are available in full on the Reinforced Plastics website www. reinforcedplastics.com.
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Composite materials producer Gurit reports sales of CHF238.9 million for its target markets (wind energy, transportation, and marine) for the first nine months of 2009, 18.7% down on the same period of 2008 (constant currency translation rates).
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Cytec Industries reports net earnings for the third quarter of 2009 of US$12.5 million and net sales of $740 million. Sales for the Cytec Engineered Materials business,
which produces prepregs, carbon fibre, adhesives and further products for the aerospace and other markets, fell 24% to $169 million.
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PPG Industries reports sales of US$3.2 billion for the third quarter of 2009, down 24% on the 2008 third quarter. Net income for the 2009 quarter was $159 million. In the company’s Glass business segment (which includes PPG Fiber Glass), sales were down $329 million from the prior year. The Glass segment recorded a loss of $6 million, a drop of $23 million due to the lower volumes and lower sales prices.
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Goodrich extends work with Malaysia’s CTRM GLOBAL AEROSPACE supplier Goodrich Corporation and Composites Technology Research Malaysia (CTRM) have signed agreements that establish CTRM as a centre of excellence for composites manufacturing, providing nacelle components for a number of commercial aircraft programmes. The contracts are valued at RM450 million for the next five years. The contracts will last for the life of the aircraft and CTRM projects the total contract value to be RM3.5 billion. Under these agreements, CTRM will expand its capabilities to include deliveries of larger, more complex components and composite assemblies for long-term programmes. CTRM
has been a component supplier to Goodrich Aerostructures since 2004. The Goodrich contract increases CTRM’s current book order of RM3 billion to approximately RM6.5 billion. The company expects this to increase to RM8.5 billion by the end of the year as new contracts are concluded. CTRM was established to develop a high technologybased industry in Malaysia in the areas of aerospace and composites, two industries identified by the Malaysian government as crucial to the industrial growth of the country. Goodrich Corp; www.goodrich.com CTRM; www.ctrm.com.my
LM Glasfiber boosts capacity in China WIND TURBINE blade manufacturer LM Glasfiber is expanding its operations in China. LM announced the construction of its third wind turbine blade facility in China in April this year. The facility in Qin Huang Dao, in Heibei province, had a planned capacity of three production lines but, as a result of customer growth and a positive outlook for the wind energy market in China, the company will now add another three lines. This will double the production capacity of the plant and increase the total number of employees to approximately 640. The turbine blades from the facility will be produced in November. The additional lines are expected to be commissioned in the third quarter of 2010.
REINFORCEDplastics
China is a strategically important market for LM Glasfiber, which is headquartered in Denmark. “Since we opened our first production unit in China eight years ago, we have seen tremendous growth and expanded our local footprint several times already in Tianjin and Urumqi,” says Ian Telford, VP Sales and Marketing. The capacity expansion at Qin Huang Dao is said to be based on a number of contracts signed with both Chinese and international wind turbine manufacturers which are expanding their business in China. LM Glasfiber; www.lmglasfiber.com
NOVEMBER/DECEMBER 2009
China’s XAC takes share in Austria’s FACC XI’AN AIRCRAFT Industry (Group) Company Ltd (XAC) of China is to acquire a majority share in FACC AG, a supplier of composite aircraft components based in Austria. On completion of the acquisition, XAC will hold 91.25% of the shares of FACC. XAC is a developer of military and commercial aircraft and part of the Aviation Industry Corpora-
tion of China (AVIC), a stateowned enterprise focused on the aircraft market. FACC, based in Ried, offers a range of composite products, including aircraft fairings, fuselages and wings. The transaction is expected to be finalised by the end of the 2009 fourth quarter. FACC; www.facc.at XAC; www.xac.com.cn
F-35 duct contract for TAI NORTHROP GRUMMAN has awarded a contract to produce composite air inlet ducts for the F-35 Lightning II Joint Strike Fighter (JSF) to Turkish Aerospace Industries Inc (TAI). The ducts are part of the aircraft’s centre fuselage, which US-based defence company Northrop Grumman produces for F-35 prime contractor Lockheed Martin. Northrop Grumman says that the five-year, US$28.4 million contract with TAI of Ankara, Turkey, will help the transition from its current production rate of approximately one F-35 centre fuselage per month, to an eventual rate of one per day. All F-35 centre fuselages are currently produced at Northrop Grumman’s Palmdale, California,
Manufacturing Centre. To date, all inlet ducts have been produced in the company’s Composites Manufacturing Centre in El Segundo, California. The first deliveries of ducts from TAI are scheduled for June 2010. TAI currently serves as a second source supplier of F-35 centre fuselages to Northrop Grumman. As part of plans to eventually produce 400 complete centre fuselages, TAI opened a new composites manufacturing facility in Ankara in 2008. That facility is currently producing composite sub-assemblies for the F-35 and will also fabricate the composite inlet ducts. TAI; www.tai.com.tr Northrop Grumman; www.northropgrumman.com
Financial results These stories are available in full on the Reinforced Plastics website www. reinforcedplastics.com.
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Composite materials producer Gurit reports sales of CHF238.9 million for its target markets (wind energy, transportation, and marine) for the first nine months of 2009, 18.7% down on the same period of 2008 (constant currency translation rates).
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Cytec Industries reports net earnings for the third quarter of 2009 of US$12.5 million and net sales of $740 million. Sales for the Cytec Engineered Materials business,
which produces prepregs, carbon fibre, adhesives and further products for the aerospace and other markets, fell 24% to $169 million.
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PPG Industries reports sales of US$3.2 billion for the third quarter of 2009, down 24% on the 2008 third quarter. Net income for the 2009 quarter was $159 million. In the company’s Glass business segment (which includes PPG Fiber Glass), sales were down $329 million from the prior year. The Glass segment recorded a loss of $6 million, a drop of $23 million due to the lower volumes and lower sales prices.
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