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March 15th - General
Sarajevo Bosnia - Bosnia aluminum producers seek government aid to survive |
| Bosnia's aluminium producers and processors, the country's top exporters, warned on Wednesday that many of them will not be able to survive unless the government helps them get access to more and cheaper funds soon. "The water has risen to our neck and some of us will drown if the government fails to help us," said Predrag Covic, general manager of the Kapis cable plant and head of the aluminium industry association, which groups 12 Bosnian companies. The base metal sector is key in the small Balkan country, impoverished after the 1992-95 war, but the global economic downturn last year has triggered a 25 percent fall in output and halved its exports. The metal sector accounts for about half of the country's overall exports. |
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March 15th - General
Carthage Missouri - Leggett & Platt Chief Operating Officer named to Board of Directors of the National Association of Manufacturers |
| Leggett & Platt announced that Karl Glassman, its Chief Operating Officer, has been named to the Board of Directors of the National Association of Manufacturers (NAM). Mr. Glassman's nomination was approved by the NAM board on March 5, 2010. Glassman joins over 200 industry leaders on the NAM board, including executives from Leggett & Platt peer companies such as Emerson, General Electric, Illinois Tool Works, HARSCO Corporation, and others. |
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March 15th - General
Santiago Chile - State Grid of China and Quadra Mining to develop Chile copper mines |
| According to a statement issued State-owned public utility, The State Grid Corporation of China (SGCC), plans to cooperate with Canadian miner Quadra Mining Ltd and jointly develop copper mines in Chile, to secure raw material supplies for electric cables and to expand its investment portfolio with Quadra. State Grid International Development Ltd (SGID), a wholly owned subsidiary of SGCC, will form a 50-50 joint venture with Quadra to develop and operate Quadra's Sierra Gorda project, Franke Mine and other copper assets in Chile. The Sierra Gorda project and Franke Mine are valued at $900 million in assets, said the Quadra statement. |
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March 15th - Reports
Istanbul Turkey - Turkey’s Celik Halat ve Tel Sanayi posts loss in 2009 |
| In 2009, Turkish steel wire and rope producer Celik Halat ve Tel Sanayii A.S. produced 36,673 metric tons of steel products, 18.76 percent lower compared to the company's 2008 output. In the given year, the producer's steel rope output totaled 6,583 metric tons, declining by 22.03 percent, its galvanized wire production amounted to 1,187 metric tons, down 19.36 percent, spring wire output regressed by 47.17 percent to 4,139 metric tons, its bead wire production decreased by 32.05 percent to 8,350 metric tons, the company's single strand rope output saw a rise of 46.92 percent to 2,912 metric tons, while its pre-stressed wire strand production totaled 13,503 metric tons, up 2.93 percent, all compared to 2008. Last year, product sales of Celik Halat ve Tel Sanayi dropped by 17.32 percent to 36,931 metric tons. Exports accounted for 26.24 percent of the total sales. The company's net sales revenue in 2009 amounted to TRY 75.9 million ($49.41 million), declining by 24.94 percent year on year, while its loss for the year totaled TRY 3.29 million ($2.14 million), compared to a profit of TRY 5.36 million in 2008. Based in Kocaeli in northwestern Turkey, Celik Halat ve Tel Sanayii has an annual production capacity of 45,000 metric tons, while its domestic market share is about 35 percent.
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