- Email: [email protected]
Zoltek posts net loss for second quarter
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European wind market slows
Focus on fire retardant resins
THE DIP in the wind energy market continues and leading turbine blade manufacturer LM Glasfiber says it expects to lay off around 450 employees in Denmark because of falling demand. The company says the German and Danish wind turbine markets have been hit particularly hard. LM, which claims to be the world's leading manufacturer of turbine blades, says that during the first two months of 2003, installed capacity (MW) in Germany was down 23% on last year as a result of delays on a number of wind farm projects. Demand in the Danish market has also fallen sharply.
VS COMPOSITES LLC, San Antonio, Texas, USA, has formed a subsidiary for the sales and marketing of its new line of environmentally friendly vinyl ester resins in both fire retardant and standard versions. The new company is called VS Resin Systems LLC and it will initially focus on fire retardant resins. The formation of VS Resin Systems is a result of the work VS Composites is performing for the US Navy. The resin systems have reached a 'no
LM says the lay-offs will mainly involve its three turbine blade manufacturing facilities located in Engesvang, Lunderskov and Hammelev, Denmark, as well as administrative jobs at its head office in Lunderskov. The company also plans to shut down a mould-building factory in Kirkeby (one of three in Denmark) as part of its continuing efforts to consolidate capacity in Denmark. Earlier this year, it shut down its facilities in Hårup, Gesten and Vejen. LM Glasfiber; tel: +45-79840000; e-mail: [email protected]; website: www.lm.dk.
It’s the mould release. ©2003 AXEL Plastics Research Laboratories Inc.
What do smart composite manufacturers have in common? Mould releases that give them the edge over the competition.
quicker longer stronger better
www.axelplastics.com Box 77 0855 • Woodside, New York 11377 USA (800) 332-AXEL in USA/Canada Tel: (718) 672-8300 Fax: (718) 565-7447 Email: [email protected] ISO 9001:2000 Registered
MOLD RELEASES & PROCESS AID ADDITIVES
RES No. 310 – USE THE FAST NEW ENQUIRY SERVICE @ www.reinforcedplastics.com
12
REINFORCEDplastics
June 2003
ignition' level on the ASTM E1254 Cone Calorimeter Test after 22 minutes of exposure to a 50 kW/m2 heat source. Michael van Steenburg, chief executive officer of VS Composites, believes these new resins are ‘a significant leap forward’ for composite materials as they are both fire resistant and environmentally friendly. VS Composites LLC; tel +1210-637-7262; e-mail: ccole@ vscomposites.com; website: www. vscomposites.com.
RP Asia 2004 Reinforced Plastics’ fifth RP Asia conference and exhibition will be held in Bangkok, Thailand, on 1-2 September 2004. Look out for further information soon. Please e-mail [email protected] with any questions.
Zoltek posts net loss for second quarter ZOLTEK COMPANIES Inc, St. Louis, Missouri, USA, reports a net loss of US$4.3 million on revenues of $16 million for the second quarter of its 2003 fiscal year (ended 31 March 2003). For the first six months of fiscal 2003, it reports a net loss of $7.4% million on revenues of $32.9 million. The company says it faces significant challenges in improving its operating results during the remainder of fiscal 2003 and into 2004. Chairman and chief executive officer Zsolt Rumy believes the company will begin to generate significant sales in the thermal insulation and fire retardant market by the end of the 2003 fiscal year, followed by significant carbon fibre sales into wind energy and automotive applications during fiscal 2004. “While we continue to make progress in the three major targeted application areas with great
near-term potential, we still have not reached a point where they are providing a positive impact to our reported results,” commented Rumy. “Our concentration on these markets continues to hurt our current performance but I believe our efforts will be rewarded soon.” Zoltek was not in compliance with the debt coverage covenant under its credit agreements in March and is seeking to obtain a waiver of this from the bank. Zoltek is an applied technology and materials company. Its Carbon Fiber business focuses on the manufacturing and application of carbon fibres, which are used as reinforcement in composites and in other applications. Its Hungarian-based Specialty Products Business Unit manufactures acrylic fibres, nylon products and industrial materials. Zoltek; website: www.zoltek. com.
04/06/2003
17:17
Page 12
European wind market slows
Focus on fire retardant resins
THE DIP in the wind energy market continues and leading turbine blade manufacturer LM Glasfiber says it expects to lay off around 450 employees in Denmark because of falling demand. The company says the German and Danish wind turbine markets have been hit particularly hard. LM, which claims to be the world's leading manufacturer of turbine blades, says that during the first two months of 2003, installed capacity (MW) in Germany was down 23% on last year as a result of delays on a number of wind farm projects. Demand in the Danish market has also fallen sharply.
VS COMPOSITES LLC, San Antonio, Texas, USA, has formed a subsidiary for the sales and marketing of its new line of environmentally friendly vinyl ester resins in both fire retardant and standard versions. The new company is called VS Resin Systems LLC and it will initially focus on fire retardant resins. The formation of VS Resin Systems is a result of the work VS Composites is performing for the US Navy. The resin systems have reached a 'no
LM says the lay-offs will mainly involve its three turbine blade manufacturing facilities located in Engesvang, Lunderskov and Hammelev, Denmark, as well as administrative jobs at its head office in Lunderskov. The company also plans to shut down a mould-building factory in Kirkeby (one of three in Denmark) as part of its continuing efforts to consolidate capacity in Denmark. Earlier this year, it shut down its facilities in Hårup, Gesten and Vejen. LM Glasfiber; tel: +45-79840000; e-mail: [email protected]; website: www.lm.dk.
It’s the mould release. ©2003 AXEL Plastics Research Laboratories Inc.
What do smart composite manufacturers have in common? Mould releases that give them the edge over the competition.
quicker longer stronger better
www.axelplastics.com Box 77 0855 • Woodside, New York 11377 USA (800) 332-AXEL in USA/Canada Tel: (718) 672-8300 Fax: (718) 565-7447 Email: [email protected] ISO 9001:2000 Registered
MOLD RELEASES & PROCESS AID ADDITIVES
RES No. 310 – USE THE FAST NEW ENQUIRY SERVICE @ www.reinforcedplastics.com
12
REINFORCEDplastics
June 2003
ignition' level on the ASTM E1254 Cone Calorimeter Test after 22 minutes of exposure to a 50 kW/m2 heat source. Michael van Steenburg, chief executive officer of VS Composites, believes these new resins are ‘a significant leap forward’ for composite materials as they are both fire resistant and environmentally friendly. VS Composites LLC; tel +1210-637-7262; e-mail: ccole@ vscomposites.com; website: www. vscomposites.com.
RP Asia 2004 Reinforced Plastics’ fifth RP Asia conference and exhibition will be held in Bangkok, Thailand, on 1-2 September 2004. Look out for further information soon. Please e-mail [email protected] with any questions.
Zoltek posts net loss for second quarter ZOLTEK COMPANIES Inc, St. Louis, Missouri, USA, reports a net loss of US$4.3 million on revenues of $16 million for the second quarter of its 2003 fiscal year (ended 31 March 2003). For the first six months of fiscal 2003, it reports a net loss of $7.4% million on revenues of $32.9 million. The company says it faces significant challenges in improving its operating results during the remainder of fiscal 2003 and into 2004. Chairman and chief executive officer Zsolt Rumy believes the company will begin to generate significant sales in the thermal insulation and fire retardant market by the end of the 2003 fiscal year, followed by significant carbon fibre sales into wind energy and automotive applications during fiscal 2004. “While we continue to make progress in the three major targeted application areas with great
near-term potential, we still have not reached a point where they are providing a positive impact to our reported results,” commented Rumy. “Our concentration on these markets continues to hurt our current performance but I believe our efforts will be rewarded soon.” Zoltek was not in compliance with the debt coverage covenant under its credit agreements in March and is seeking to obtain a waiver of this from the bank. Zoltek is an applied technology and materials company. Its Carbon Fiber business focuses on the manufacturing and application of carbon fibres, which are used as reinforcement in composites and in other applications. Its Hungarian-based Specialty Products Business Unit manufactures acrylic fibres, nylon products and industrial materials. Zoltek; website: www.zoltek. com.