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GKN starts work on UK composites facility
BUSINESS
AGY buys stake in Chinese yarn producer AGY, Aiken, South Carolina, USA, has entered into a sale and purchase agreement with Grace THW Holding Ltd to acquire a 70% controlling interest in the E-glass yarn producer Shanghai Grace Technology Company Ltd. AGY, which produces glass yarns and reinforcements, says it has both the option and intent to purchase the remaining outstanding shares in the near future. The acquisition, which sees the expansion of AGY into the Asia-Pacific region, is expected to be finalised in the second quarter of 2009. “We see significant opportunities in the Asia-Pacific region for market expansion in the high-end electronics markets that
require fine yarn capabilities,” says Doug Mattscheck, AGY’s Chief Executive Officer. “Additionally, other key markets to AGY, such as aerospace, wind-energy and industrial applications, have experienced significant growth in Asia, and we are now in a position to service those requirements locally through the purchase of Shanghai Grace Technology.” The AGY-managed facility has a current annual production capacity in excess of 18 000 tonnes of glass fibre, and has potential for expansion. According to Mattscheck, AGY’s goal is to become the preeminent independent E-glass yarn manufacturer in Asia. AGY; www.agy.com
GKN starts work on UK composites facility GKN AEROSPACE has started work on the creation of a new manufacturing facility in Bristol, UK. This will form a key part of GKN Aerospace-Filton’s plans to become a global centre of excellence in composite aircraft wing structures. The new site, known as FiltonWest, will be under the management of the recently acquired GKN Aerospace – Filton and will house a state-of-the-art automated composites manufacturing operation. From January 2010 the plant will manufacture wing spars and trailing edge assemblies for the Airbus A350 XWB aircraft. “With the addition of this facility, we will be able commence our significant package of work for
REINFORCEDplastics
MAY 2009
the A350 and begin activity to support an extended customer base,” says GKN Aerospace Chief Executive, Marcus Bryson. “We are investing in our workforce and facilities here in Bristol, positioning the entire operation to be ready to support a wide range of customers and to take a significant part of the global wing structures market, including Next Generation Single Aisle (NGSA) programmes, over the next 30–40 years.” GKN Aerospace - Filton has 1500 employees. GKN Aerospace – Filton West is expected to add up to 250 jobs in the coming decade. GKN Aerospace; www.gknaerospace.com
Quickstep to boost Middle East aerospace sales QUICKSTEP HOLDINGS Ltd of Australia has signed two agreements with Abu Dhabibased diversified conglomerate, Al Farida Group, for sales in the Middle East, and a convertible loan agreement. The agreements are: an agency agreement to promote aerospace sales in the United Arab Emirates (UAE), Saudi Arabia and other Middle East countries; and a A$10 million convertible loan agreement. “These agreements provide a very exciting opportunity for us to cement Quickstep’s move to aerospace manufacturing in Australia, while also providing the company with access to potential new business in a major new growth market in the Middle East,” says Quickstep’s Chief Executive Officer, Philippe Odouard. Al Farida’s subsidiary Al Sahel Trading Agencies LLC has agreed to act as the exclusive representative for Quickstep within the UAE and wider region for a minimum of two years, and to
promote Quickstep’s services to potential customers. “There are numerous companies in the UAE and elsewhere in the Middle East that are aggressively targeting aerospace manufacturing contracts within the region’s rapidly expanding aerospace sector,” says Executive Vice Chairman and Managing Director of the Al Farida group, Sheik Hamed bin Ahmed Al Hamed. “These companies are aiming to become the hub of the aerospace industry in the region, and we believe Quickstep can offer key manufacturing solutions, knowledge and capability - using both the Quickstep Process and autoclave curing solutions - to assist them to achieve this goal. We see this region as a major potential contributor to Quickstep’s future growth,” he adds. Quickstep; www.quickstep.com.au Al Farida Group; www.alfaridainvst.com
UMECO Composites restructures UMECO COMPOSITES has restructured its operations into two subsidiaries: Process Materials and Structural Materials. The restructuring is intended to retain the identities of individual brands while maximising the benefits of being part of a larger group. Umeco Composites Process Materials (UCPM) will be headed by Tim Cooper, the former Managing Director of Aerovac Systems, and will consist of the recently-acquired IPM in Italy along with Richmond Aerovac and Med-Lab.
Umeco Composites Structural Materials (UCSM) will be led by Jon Mabbitt, Managing Director of Advanced Composites Group Ltd, and includes JD Lincoln, GRPMS and Advanced Composites Group. “The new structure will allow Umeco Composites to focus on innovative technology and growth in its product portfolios, continuing to provide customers with value added services that capture new opportunities,” says Andrew Moss, Chief Operating Officer at Umeco plc of Leamington Spa, UK. UMECO; www.umeco.com
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AGY buys stake in Chinese yarn producer AGY, Aiken, South Carolina, USA, has entered into a sale and purchase agreement with Grace THW Holding Ltd to acquire a 70% controlling interest in the E-glass yarn producer Shanghai Grace Technology Company Ltd. AGY, which produces glass yarns and reinforcements, says it has both the option and intent to purchase the remaining outstanding shares in the near future. The acquisition, which sees the expansion of AGY into the Asia-Pacific region, is expected to be finalised in the second quarter of 2009. “We see significant opportunities in the Asia-Pacific region for market expansion in the high-end electronics markets that
require fine yarn capabilities,” says Doug Mattscheck, AGY’s Chief Executive Officer. “Additionally, other key markets to AGY, such as aerospace, wind-energy and industrial applications, have experienced significant growth in Asia, and we are now in a position to service those requirements locally through the purchase of Shanghai Grace Technology.” The AGY-managed facility has a current annual production capacity in excess of 18 000 tonnes of glass fibre, and has potential for expansion. According to Mattscheck, AGY’s goal is to become the preeminent independent E-glass yarn manufacturer in Asia. AGY; www.agy.com
GKN starts work on UK composites facility GKN AEROSPACE has started work on the creation of a new manufacturing facility in Bristol, UK. This will form a key part of GKN Aerospace-Filton’s plans to become a global centre of excellence in composite aircraft wing structures. The new site, known as FiltonWest, will be under the management of the recently acquired GKN Aerospace – Filton and will house a state-of-the-art automated composites manufacturing operation. From January 2010 the plant will manufacture wing spars and trailing edge assemblies for the Airbus A350 XWB aircraft. “With the addition of this facility, we will be able commence our significant package of work for
REINFORCEDplastics
MAY 2009
the A350 and begin activity to support an extended customer base,” says GKN Aerospace Chief Executive, Marcus Bryson. “We are investing in our workforce and facilities here in Bristol, positioning the entire operation to be ready to support a wide range of customers and to take a significant part of the global wing structures market, including Next Generation Single Aisle (NGSA) programmes, over the next 30–40 years.” GKN Aerospace - Filton has 1500 employees. GKN Aerospace – Filton West is expected to add up to 250 jobs in the coming decade. GKN Aerospace; www.gknaerospace.com
Quickstep to boost Middle East aerospace sales QUICKSTEP HOLDINGS Ltd of Australia has signed two agreements with Abu Dhabibased diversified conglomerate, Al Farida Group, for sales in the Middle East, and a convertible loan agreement. The agreements are: an agency agreement to promote aerospace sales in the United Arab Emirates (UAE), Saudi Arabia and other Middle East countries; and a A$10 million convertible loan agreement. “These agreements provide a very exciting opportunity for us to cement Quickstep’s move to aerospace manufacturing in Australia, while also providing the company with access to potential new business in a major new growth market in the Middle East,” says Quickstep’s Chief Executive Officer, Philippe Odouard. Al Farida’s subsidiary Al Sahel Trading Agencies LLC has agreed to act as the exclusive representative for Quickstep within the UAE and wider region for a minimum of two years, and to
promote Quickstep’s services to potential customers. “There are numerous companies in the UAE and elsewhere in the Middle East that are aggressively targeting aerospace manufacturing contracts within the region’s rapidly expanding aerospace sector,” says Executive Vice Chairman and Managing Director of the Al Farida group, Sheik Hamed bin Ahmed Al Hamed. “These companies are aiming to become the hub of the aerospace industry in the region, and we believe Quickstep can offer key manufacturing solutions, knowledge and capability - using both the Quickstep Process and autoclave curing solutions - to assist them to achieve this goal. We see this region as a major potential contributor to Quickstep’s future growth,” he adds. Quickstep; www.quickstep.com.au Al Farida Group; www.alfaridainvst.com
UMECO Composites restructures UMECO COMPOSITES has restructured its operations into two subsidiaries: Process Materials and Structural Materials. The restructuring is intended to retain the identities of individual brands while maximising the benefits of being part of a larger group. Umeco Composites Process Materials (UCPM) will be headed by Tim Cooper, the former Managing Director of Aerovac Systems, and will consist of the recently-acquired IPM in Italy along with Richmond Aerovac and Med-Lab.
Umeco Composites Structural Materials (UCSM) will be led by Jon Mabbitt, Managing Director of Advanced Composites Group Ltd, and includes JD Lincoln, GRPMS and Advanced Composites Group. “The new structure will allow Umeco Composites to focus on innovative technology and growth in its product portfolios, continuing to provide customers with value added services that capture new opportunities,” says Andrew Moss, Chief Operating Officer at Umeco plc of Leamington Spa, UK. UMECO; www.umeco.com
www.reinforcedplastics.com