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Kennametal to continue restructure after Q3 losses
Metal Powder Report Volume 70, Number 4 July/August 2015
reliability will be increased and costs will be reduced.
NEWS
fication in the sourcing of these components to improve independency from specific markets.’ ‘We are very pleased to have been selected to supply Siemens and Shin-Etsu with rare earth magnetic materials for this important clean energy supply chain project,’ said Geoff Bedford, Molycorp’s president and CEO. Molycorp; www.molycorp.com
Clean energy ‘The contract with Shin-Etsu and Molycorp is an important step for us in sourcing magnet materials for our direct drive wind turbines,’ said Morten Rasmussen, head of technology at Siemens Wind Power and Renewables Division. ‘We strive for diversiMolycorp will supply the rare earth materials for magnets which Siemens intends to utilize in its wind turbines.
Linde sets up combustion center in Suzhou The Linde Group has opened a new combustion center in Suzhou, China, the first center to be owned by an industrial gases company in that country. The Linde Combustion Center is intended drive R&D initiatives in partnership with metal and glass industries and research institutes in projects to develop green combustion technologies and improve heat treatment processes geared towards future and sustainable applications. The center will use technology to facilitate research and development work in metallurgy, steel, iron, nonferrous, mining and heat treatment industries. It also has an
R&D demonstration facility for customer engagements.
Key growth region ‘China, together with the Asia Pacific countries, is a key growth region for The Linde Group,’ said Steven Fang, regional business unit head, East Asia. ‘At the speed of development in this region, industries will increasingly seek for advanced solutions that are sustainable with greater emphasis on process efficiencies and product quality. This is the trend we are seeing especially in China.’ One key technology the company wants to develop is oxyfuel technology – the com-
bustion of fossil fuels such as natural gas, oil or coal with technical oxygen instead of air for industrial melting or heating processes which is state of art technology in many industries these days. Using oxygen instead of air as an oxidizer reduces the flue gas volumes by 70%. The energy that is taken out by the flue gas can be significantly reduced. Applying oxygen in industrial combustion processes can save 30 to 60% of the fuel input compared to air fuel operation. The Linde Group; www.linde.com
Kyocera acquires Lithuanian tool manufacturer Kyocera Unimerco (KUA), the Kyocera Group’s subsidiary in charge of manufacturing and sales of industrial cutting tools, has acquired Garsdalo Medienos Technologija UAB, a manufacturer and distributor of woodworking tools. GMT is now a wholly owned subsidiary of KUA. Through this acquisition, KUA aims to strengthen its woodworking tool business currently centered in Northern Europe, and nearly double its sales in this business segment by 2020.
In Central and Eastern Europe, the demand for processing tools is increasing, according to Kyocera.
processing tools, the company says. Based on this growth, KUA had been considering expanding its business into these markets. In addition to its core business of manufacturing and supplying cutting tools for the automotive industry, KUA also markets custom-made tools in the field of woodworking based on the company’s strong technological capabilities. GMT has been a distributor of KUA since 1998 and has 42 employees.
material and furniture is expanding, resulting in an increase in demand for
Kyocera; www.kyocera.eu
Expanding market In Central and Eastern Europe, the woodworking market for processing building
Kennametal to continue restructure after Q3 losses Kennametal Inc plans to restructure its business after sales of US$639 million in Q3, compared with US$755 million in the
same quarter last year. Sales decreased by 15%, reflecting a 9% organic decline and a 6% unfavorable currency exchange impact.
Fiscal 2015 year-to-date sales were US$2010 million, compared with US$2065 million in the same period last year while
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NEWS
operating loss was US$393 million, compared with operating income of US$185 million in the same period last year. ‘Progress on our accelerated cost reduction measures facilitated better than expected performance for the March quarter,’ said Kennametal president and CEO Don Nolan. ‘However, it was necessary to record an additional impairment charge
Metal Powder Report Volume 70, Number 4 July/August 2015
due to a continued decline in the end market outlook related to our infrastructure segment.’ The company has identified additional actions to’ streamline the company’s cost structure’ in order to achieve an additional US$25-$30 million of annualized savings and incur US$40–45 million of pre-tax charges as it is being implemented over
the next 24 months. ‘These initiatives are expected to enhance operational efficiencies through an enterprise-wide cost reduction program as well as the consolidation of certain manufacturing facilities,’ the company said.
Kennametal; www.kennametal.com
Kennametal wins Boeing Supplier excellence award Hardmetal specialist Kennametal Inc has received the Boeing 2014 Silver Supplier Performance Excellence Award. Boeing issues annual awards to suppliers that meet and exceed its performance
requirements for quality and delivery over a 12-month period. Kennametal’s Madison, Alabama facility earned the award for supplying engineered counterbalance, vibration dampening and
ballast weight components for various Boeing fixed and rotor-wing airframe applications. The facility is part of the tungsten materials business Kennametal acquired in 2013. Kennametal; www.kennametal.com
New high for global molybdenum production and use in 2014 Global production of molybdenum in 2014 reached a new high of 583.7 million lbs, up from the previous year’s record of 543.2 million lbs, according to figure released by the International Molybdenum Association (IMOA). The full year figures also show global molybdenum use at 559 million lbs, breaking the previous year’s record high of 537.7 million lbs. The greatest usage of molybdenum in 2014 was in China, where use increased from 196.2 million lbs in 2013 to 202 million lbs in 2014. Europe recorded the second biggest share with 143.4 million lbs, up from 140.4 million lbs in 2013. Japan and USA were joint third largest users by region, recording 59.7 million lbs each. Usage in the CIS was 24.6 million lbs, with other countries together totalling 69.7 million lbs.
China was also the biggest molybdenum producing area in 2014, with output increasing to 200.6 million lbs, up 3% from 194.9 million lbs in 2013. Production in North America rose from 181.3 million lbs in 2013 to 193.2 million lbs in 2014. South America was the third largest producing region, accounting for 147.5 million lbs in 2014, up 15% from 128 million lbs in 2013. Production in other countries increased from 39 million lbs in 2013 to 42.3 million lbs in 2014.
China versus NA New figures for the fourth quarter of 2014, also released, saw total molybdenum production fall slightly, from 153.8 million lbs in Q3 to 148.1 in Q4. China’s molybdenum production increased from 51.1 in the third
quarter of 2014 to 55.8 million lbs in Q4. North American production fell from 54.9 million lbs in Q3 to 42.7 in Q4, while South America’s rose from 37.2 million lbs in Q3 to 39.9 in Q4. Global usage fell from 139.8 million lbs in Q3 to 136.2 in Q4. Usage in China decreased fractionally, from 50.7 million lbs in Q3 to 50.1 in Q4. Usage in Europe also fell slightly, from 34.7 million lbs in Q3 to 33.5 in Q4. Usage in USA and Japan was 15.2 and 14 million lbs respectively in Q4. ‘These figures indicate that molybdenum use remained buoyant throughout 2014,’ said Tim Outteridge, IMOA’s SecretaryGeneral. ‘Figures for both production and use reached new highs again in 2014.’ IMOA; www.imoa.info
IHEA announces 2015–2016 board and officers The Industrial Heating Equipment Association (IHEA) has announced its 2015–2016 board of directors and officers. Serving as president is B.J. Bernard of Surface Combustion, while Daniel Llaguno of Nutec Bickley has been named IHEA vice-president and Scott Schindlbeck of Eclipse has been elected treasurer. Outgoing president, Tim Lee of Maxon, a division of Honeywell, assumes the role of past president. The IHEA executive committee also appointed Mike Shay of H.E.A.T. Equipment and Technology to fill a newly vacated seat on the board, while two additional
164
IHEA 2015–2016 officers and board members: Back row left to right–B.J. Bernard, Jay Cherry, Michael Stowe, Jeff Valuck, John Stanley, and Aaron Zoeller. Front row left to right–John Podach, Scott Schindlbeck, Tim Lee, Francis Liebens, KK Tiwari, and Daniel Llaguno.
reliability will be increased and costs will be reduced.
NEWS
fication in the sourcing of these components to improve independency from specific markets.’ ‘We are very pleased to have been selected to supply Siemens and Shin-Etsu with rare earth magnetic materials for this important clean energy supply chain project,’ said Geoff Bedford, Molycorp’s president and CEO. Molycorp; www.molycorp.com
Clean energy ‘The contract with Shin-Etsu and Molycorp is an important step for us in sourcing magnet materials for our direct drive wind turbines,’ said Morten Rasmussen, head of technology at Siemens Wind Power and Renewables Division. ‘We strive for diversiMolycorp will supply the rare earth materials for magnets which Siemens intends to utilize in its wind turbines.
Linde sets up combustion center in Suzhou The Linde Group has opened a new combustion center in Suzhou, China, the first center to be owned by an industrial gases company in that country. The Linde Combustion Center is intended drive R&D initiatives in partnership with metal and glass industries and research institutes in projects to develop green combustion technologies and improve heat treatment processes geared towards future and sustainable applications. The center will use technology to facilitate research and development work in metallurgy, steel, iron, nonferrous, mining and heat treatment industries. It also has an
R&D demonstration facility for customer engagements.
Key growth region ‘China, together with the Asia Pacific countries, is a key growth region for The Linde Group,’ said Steven Fang, regional business unit head, East Asia. ‘At the speed of development in this region, industries will increasingly seek for advanced solutions that are sustainable with greater emphasis on process efficiencies and product quality. This is the trend we are seeing especially in China.’ One key technology the company wants to develop is oxyfuel technology – the com-
bustion of fossil fuels such as natural gas, oil or coal with technical oxygen instead of air for industrial melting or heating processes which is state of art technology in many industries these days. Using oxygen instead of air as an oxidizer reduces the flue gas volumes by 70%. The energy that is taken out by the flue gas can be significantly reduced. Applying oxygen in industrial combustion processes can save 30 to 60% of the fuel input compared to air fuel operation. The Linde Group; www.linde.com
Kyocera acquires Lithuanian tool manufacturer Kyocera Unimerco (KUA), the Kyocera Group’s subsidiary in charge of manufacturing and sales of industrial cutting tools, has acquired Garsdalo Medienos Technologija UAB, a manufacturer and distributor of woodworking tools. GMT is now a wholly owned subsidiary of KUA. Through this acquisition, KUA aims to strengthen its woodworking tool business currently centered in Northern Europe, and nearly double its sales in this business segment by 2020.
In Central and Eastern Europe, the demand for processing tools is increasing, according to Kyocera.
processing tools, the company says. Based on this growth, KUA had been considering expanding its business into these markets. In addition to its core business of manufacturing and supplying cutting tools for the automotive industry, KUA also markets custom-made tools in the field of woodworking based on the company’s strong technological capabilities. GMT has been a distributor of KUA since 1998 and has 42 employees.
material and furniture is expanding, resulting in an increase in demand for
Kyocera; www.kyocera.eu
Expanding market In Central and Eastern Europe, the woodworking market for processing building
Kennametal to continue restructure after Q3 losses Kennametal Inc plans to restructure its business after sales of US$639 million in Q3, compared with US$755 million in the
same quarter last year. Sales decreased by 15%, reflecting a 9% organic decline and a 6% unfavorable currency exchange impact.
Fiscal 2015 year-to-date sales were US$2010 million, compared with US$2065 million in the same period last year while
163
NEWS
operating loss was US$393 million, compared with operating income of US$185 million in the same period last year. ‘Progress on our accelerated cost reduction measures facilitated better than expected performance for the March quarter,’ said Kennametal president and CEO Don Nolan. ‘However, it was necessary to record an additional impairment charge
Metal Powder Report Volume 70, Number 4 July/August 2015
due to a continued decline in the end market outlook related to our infrastructure segment.’ The company has identified additional actions to’ streamline the company’s cost structure’ in order to achieve an additional US$25-$30 million of annualized savings and incur US$40–45 million of pre-tax charges as it is being implemented over
the next 24 months. ‘These initiatives are expected to enhance operational efficiencies through an enterprise-wide cost reduction program as well as the consolidation of certain manufacturing facilities,’ the company said.
Kennametal; www.kennametal.com
Kennametal wins Boeing Supplier excellence award Hardmetal specialist Kennametal Inc has received the Boeing 2014 Silver Supplier Performance Excellence Award. Boeing issues annual awards to suppliers that meet and exceed its performance
requirements for quality and delivery over a 12-month period. Kennametal’s Madison, Alabama facility earned the award for supplying engineered counterbalance, vibration dampening and
ballast weight components for various Boeing fixed and rotor-wing airframe applications. The facility is part of the tungsten materials business Kennametal acquired in 2013. Kennametal; www.kennametal.com
New high for global molybdenum production and use in 2014 Global production of molybdenum in 2014 reached a new high of 583.7 million lbs, up from the previous year’s record of 543.2 million lbs, according to figure released by the International Molybdenum Association (IMOA). The full year figures also show global molybdenum use at 559 million lbs, breaking the previous year’s record high of 537.7 million lbs. The greatest usage of molybdenum in 2014 was in China, where use increased from 196.2 million lbs in 2013 to 202 million lbs in 2014. Europe recorded the second biggest share with 143.4 million lbs, up from 140.4 million lbs in 2013. Japan and USA were joint third largest users by region, recording 59.7 million lbs each. Usage in the CIS was 24.6 million lbs, with other countries together totalling 69.7 million lbs.
China was also the biggest molybdenum producing area in 2014, with output increasing to 200.6 million lbs, up 3% from 194.9 million lbs in 2013. Production in North America rose from 181.3 million lbs in 2013 to 193.2 million lbs in 2014. South America was the third largest producing region, accounting for 147.5 million lbs in 2014, up 15% from 128 million lbs in 2013. Production in other countries increased from 39 million lbs in 2013 to 42.3 million lbs in 2014.
China versus NA New figures for the fourth quarter of 2014, also released, saw total molybdenum production fall slightly, from 153.8 million lbs in Q3 to 148.1 in Q4. China’s molybdenum production increased from 51.1 in the third
quarter of 2014 to 55.8 million lbs in Q4. North American production fell from 54.9 million lbs in Q3 to 42.7 in Q4, while South America’s rose from 37.2 million lbs in Q3 to 39.9 in Q4. Global usage fell from 139.8 million lbs in Q3 to 136.2 in Q4. Usage in China decreased fractionally, from 50.7 million lbs in Q3 to 50.1 in Q4. Usage in Europe also fell slightly, from 34.7 million lbs in Q3 to 33.5 in Q4. Usage in USA and Japan was 15.2 and 14 million lbs respectively in Q4. ‘These figures indicate that molybdenum use remained buoyant throughout 2014,’ said Tim Outteridge, IMOA’s SecretaryGeneral. ‘Figures for both production and use reached new highs again in 2014.’ IMOA; www.imoa.info
IHEA announces 2015–2016 board and officers The Industrial Heating Equipment Association (IHEA) has announced its 2015–2016 board of directors and officers. Serving as president is B.J. Bernard of Surface Combustion, while Daniel Llaguno of Nutec Bickley has been named IHEA vice-president and Scott Schindlbeck of Eclipse has been elected treasurer. Outgoing president, Tim Lee of Maxon, a division of Honeywell, assumes the role of past president. The IHEA executive committee also appointed Mike Shay of H.E.A.T. Equipment and Technology to fill a newly vacated seat on the board, while two additional
164
IHEA 2015–2016 officers and board members: Back row left to right–B.J. Bernard, Jay Cherry, Michael Stowe, Jeff Valuck, John Stanley, and Aaron Zoeller. Front row left to right–John Podach, Scott Schindlbeck, Tim Lee, Francis Liebens, KK Tiwari, and Daniel Llaguno.