In business News

In business News Archive

New head of BASF Catalysts division

Kenneth T Lane, currently senior vice president, Isocyanates Europe located in Brussels, Belgium, will become president of BASF’s catalysts division headquartered in Iselin, New Jersey, effective 1 June 2013.

H.C. Starck Inks Supply Deal

H.C. Starck is to provide hot zones and furnace components fabricated from high performance technology metals for furnaces owned by ARC Energy.

Molycorp reports 9% increase in Q1

Molycorp reported consolidated net revenues of US$146.4 million during the first quarter of 2013, a 9% increase over the fourth quarter of 2012.

Timken completes steel investments

The Timken Company has completed three capital investment projects totalling US$85 million.

Kennametal acquires South American tungsten processor

Kennametal Inc has acquired Comercializadora Emura SRL, a Bolivian company which specialises in the collection, testing, processing and exporting of tungsten ore.

Universal Stainless signs five-year contract with Rolls-Royce

Universal Stainless & Alloy Products Inc has signed a five-year contract with Rolls-Royce for the supply of specialty steel products. The contract will commence on 1 January, 2014.

Tenova expands heat treatment furnace business

Tenova’s subsidiary LOI Thermprocess GmbH is to acquire Metall Technologie Holding (MTH), a supplier of vacuum and atmospheric furnaces.

Linde posts improved revenue for Q1

The Linde Group achieved an increase in group revenue by 10.3%to €3.985 billion, compared with €3.614 billion in the same period of 2012.

Universal Stainless reports Q1 2013

Universal Stainless & Alloy Products Inc reported Q1 2013 sales of US$49.1 million compared with US$74.6 million in the first quarter of 2012.

New report covers worldwide automotive market

Global automotive industry is likely to surpass US$2 trillion by 2017, an increase by over 7% per year.

ASL wins Far East contract

According to the Yorkshire Post, Atomising Systems (ASL) and MEC Electrical Contracting have won a major engineering contract in the Far East for the companies’ atomisation technology.

Carpenter contracts with Rolls-Royce

Carpenter Technology has completed a formal supply agreement to provide Rolls-Royce with materials for making of jet engine components.

Q3 sales slightly off for Kennametal

Kennametal Q3 sales were US$655 million, compared with US$696 million in the same quarter last year, a 6% decrease.

Carpenter Q3 “gains and challenges”

Carpenter Technology has reported net income of US$32.9 million for Q3 ended 31 March 2013, compared to US$33 million in Q3 in the previous year.

GE to produce laser sintered fuel nozzle

GE Aviation has made plans to mass-produce a fuel nozzle for a new aircraft engine using laser sintered cobalt-chromium powder.

Chrysler to invest almost US$20 million in machining

Chrysler Group LLC is putting US$19.6 million in its Toledo Machining Plant in Perrysburg, Ohio, USA.

Umicore posts decreased revenue for Q1

According to Umicore, its revenues were down 2% in the first quarter of 2013 due to the “adverse market conditions” in many of its end markets.