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PM results tug at GKN profits
Dresden date for 2008
Sandvik adds Diamond for hard capacity SANDVIK TOOLING has reached agreement with Littlejohn & Co to acquire Diamond Innovations. The takeover is expected to be completed by the end of this month. Diamond innovations, formerly the Superabrasives Division of General Electric, was bought by Littlejohn in 2000. It is a major manufacturer of synthetic diamond and cubic boron nitride (CBN) for industrial applications such as machining, oil and gas drilling, grinding, rock drilling and wire drawing. Diamond Innovations has annual sales in excess of SEK 1 billion ($142 million approxi-
mately), and 600 employees. It’s head office and largest production unit is located in Worthing to, Ohio and there are other units in Florida, Ireland and Hong Kong. Sales are more or less split equally between the Americas, Europe and Asia. Complementary growth Sandvik said that with increasing demand for improved tooling performance the acquisition of Diamond Innovations will provide a base for improving its market offering of diamond and CBN cutting tools for metalworking.
PM results tug at GKN profits FINANCIAL results from GKN’s automotive division, which contains GKN Sinter Metals and metal powder giant Hoeganaes Corporation, was the only dark cloud on the engineering group’s report on last year. It saw sales fall 4 per cent to £2.6 billion after taking a £23m currency hit and suffering weak demand in the US during the second half of last year. The firm said US production fell 2.5 per cent last year as manufacturers DaimlerChrysler, Ford and General Motors lost market share to foreign competitors. Chief executive Kevin Smith said raw materials costs remained ‘volatile’ but were
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not expected to make a major impact in 2007. Overall GKN more than doubled pre-tax profits after its aerospace division overcame delays to the Airbus superjumbo programme. With GKN benefiting from work on the US Joint Strike Fighter project and the new Boeing 787, underlying pre-tax profits at the firm soared to £182m for 2006, up from £73m the previous year. Including acquisition costs, pre-tax profits rose 8 per cent to £221m - beating consensus forecasts of £212m - on flat sales of £3.65 billion. Shares were up 8 per cent following the results announcement.
“Sandvik holds a worldleading position in advanced applications based on materials technology. Diamond and CBN are the hardest materials known and provide unique solutions for demanding wear applications,” Said Anders Thelin, head of Sandvik Tooling. “This acquisition complements our current offering in areas with high growth, and our intention is to continue developing the existing business. “It provides the potential for further development of new solutions, especially for Sandvik Mining and Construction,” he added.
Timcal makes China move TIMCAL Ltd based in Bodio, Switzerland, has acquired 85 percent of the shares of Baotou Jing Yuan Graphite Co Ltd in China. Located in Inner Mongolia, Baotou makes high-purity and highperformance natural graphite products for mobile energy and engineering applications. Established in 1990, the company has 140 employees. The new joint venture was renamed Timcal Jing Yuan Graphite (Baotou) Co Ltd. Timcal says the acquisition further strengthens its international leadership position in graphite solutions.
THE international conference on Advanced Processing of Novel Functional Materials - APNFM 2008 - will be held at the International Congress Centre Dresden. It will be hosted by the Dresden Branch Laboratory for Powder Metallurgy and Composite Materials of the Fraunhofer Institute for Manufacturing and Advanced Materials (IFAM), and the Max Planck Institute for Chemical Physics of Solids. It is to be staged from January 23 - 25, 2008 in Dresden, Germany. The conference will be a forum for researchers and manufacturers in inorganic functional materials and their production processes. The Technical Programme will cover all aspects of the production and processing of novel functional materials and particulate processing technologies through a programme of plenary presentations and reviews. These will focus on topics of all kinds of production methods for ultrafine grained materials or functional materials in appreciable amounts. The programme includes: Preparation of nanopowders, rapid solidification, nanopowder consolidation, sintering, including spark plasma sintering (SPS) and microwave sintering, mechanical alloying, shock compaction, severe plastic deformation, new processing concepts, characterisation techniques, diamond tools and cemented carbides. Although the slant of the conference will be scientific, the organisers are considering the possibility of an exhibition too : [email protected]
March 2007 MPR
7 16/03/2007 15:25:04
Sandvik adds Diamond for hard capacity SANDVIK TOOLING has reached agreement with Littlejohn & Co to acquire Diamond Innovations. The takeover is expected to be completed by the end of this month. Diamond innovations, formerly the Superabrasives Division of General Electric, was bought by Littlejohn in 2000. It is a major manufacturer of synthetic diamond and cubic boron nitride (CBN) for industrial applications such as machining, oil and gas drilling, grinding, rock drilling and wire drawing. Diamond Innovations has annual sales in excess of SEK 1 billion ($142 million approxi-
mately), and 600 employees. It’s head office and largest production unit is located in Worthing to, Ohio and there are other units in Florida, Ireland and Hong Kong. Sales are more or less split equally between the Americas, Europe and Asia. Complementary growth Sandvik said that with increasing demand for improved tooling performance the acquisition of Diamond Innovations will provide a base for improving its market offering of diamond and CBN cutting tools for metalworking.
PM results tug at GKN profits FINANCIAL results from GKN’s automotive division, which contains GKN Sinter Metals and metal powder giant Hoeganaes Corporation, was the only dark cloud on the engineering group’s report on last year. It saw sales fall 4 per cent to £2.6 billion after taking a £23m currency hit and suffering weak demand in the US during the second half of last year. The firm said US production fell 2.5 per cent last year as manufacturers DaimlerChrysler, Ford and General Motors lost market share to foreign competitors. Chief executive Kevin Smith said raw materials costs remained ‘volatile’ but were
metal-powder.net
News_Layout 7
not expected to make a major impact in 2007. Overall GKN more than doubled pre-tax profits after its aerospace division overcame delays to the Airbus superjumbo programme. With GKN benefiting from work on the US Joint Strike Fighter project and the new Boeing 787, underlying pre-tax profits at the firm soared to £182m for 2006, up from £73m the previous year. Including acquisition costs, pre-tax profits rose 8 per cent to £221m - beating consensus forecasts of £212m - on flat sales of £3.65 billion. Shares were up 8 per cent following the results announcement.
“Sandvik holds a worldleading position in advanced applications based on materials technology. Diamond and CBN are the hardest materials known and provide unique solutions for demanding wear applications,” Said Anders Thelin, head of Sandvik Tooling. “This acquisition complements our current offering in areas with high growth, and our intention is to continue developing the existing business. “It provides the potential for further development of new solutions, especially for Sandvik Mining and Construction,” he added.
Timcal makes China move TIMCAL Ltd based in Bodio, Switzerland, has acquired 85 percent of the shares of Baotou Jing Yuan Graphite Co Ltd in China. Located in Inner Mongolia, Baotou makes high-purity and highperformance natural graphite products for mobile energy and engineering applications. Established in 1990, the company has 140 employees. The new joint venture was renamed Timcal Jing Yuan Graphite (Baotou) Co Ltd. Timcal says the acquisition further strengthens its international leadership position in graphite solutions.
THE international conference on Advanced Processing of Novel Functional Materials - APNFM 2008 - will be held at the International Congress Centre Dresden. It will be hosted by the Dresden Branch Laboratory for Powder Metallurgy and Composite Materials of the Fraunhofer Institute for Manufacturing and Advanced Materials (IFAM), and the Max Planck Institute for Chemical Physics of Solids. It is to be staged from January 23 - 25, 2008 in Dresden, Germany. The conference will be a forum for researchers and manufacturers in inorganic functional materials and their production processes. The Technical Programme will cover all aspects of the production and processing of novel functional materials and particulate processing technologies through a programme of plenary presentations and reviews. These will focus on topics of all kinds of production methods for ultrafine grained materials or functional materials in appreciable amounts. The programme includes: Preparation of nanopowders, rapid solidification, nanopowder consolidation, sintering, including spark plasma sintering (SPS) and microwave sintering, mechanical alloying, shock compaction, severe plastic deformation, new processing concepts, characterisation techniques, diamond tools and cemented carbides. Although the slant of the conference will be scientific, the organisers are considering the possibility of an exhibition too : [email protected]
March 2007 MPR
7 16/03/2007 15:25:04