Topaz awarded single buoy moorings contract in Norwegian North Sea Sector

Topaz Energy and Marine Ltd. has announced that its Abu Dhabi-based oil & gas subsidiary Adyard LLC has been awarded an AED 130 million contract by Swiss-based Single Buoy Moorings Inc. (SBM) The contract is for the fabrication of a Mobile Offshore Production Unit (MOPU) for Talisman Energy, one of Canada’s largest petroleum companies. The MOPU is to be located on the YME Field in the Norwegian sector of the North Sea.

Commenting on the award Jim Masterton, General Manager for Adyard Abu Dhabi LLC said, “Adyard’s expertise in offshore fabrication of heavy structures for the energy industry, as well as our competitive pricing demonstrates our strengths and capabilities as one of the regions’ premier oil & gas fabrication company’s.”

The contract entails the fabrication and load out of the Hull, Topsides and related works. The process equipment will be fabricated in modules and installed on the hull at the Adyard jetty in Abu Dhabi. The work will be executed at Adyard’s 140,000 sqm water front facilities located in the Mussafah industrial area of Abu Dhabi over the next 18 months. SBM is a market leader in the conversion and operation of Floating Production, Storage and Offloading vessels (FPSO’s) worldwide and this award marks the fourth contract SBM has awarded to Adyard over the last 12 months. Previously Adyard had won contracts for two CALM Buoys and PLEMS and five modules for the Frade (FPSO) for U.S. oil giant Chevron.

Overall 2007 has been an exceptionally successful year for Adyard, after winning a combination of multi-million dollar contracts from Viola Water, Atlantis and the Chiyoda – Technip joint venture. Based in Dubai, Topaz Energy and Marine is one of the UAE’s largest Oil & Gas service companies.

The largest contract for TELE-FONIKA Cable Americas for supply and control cable for wind farms

TELE-FONIKA Cable Americas, servicing North and South America, is to implement the provision of supply and control cables within the framework of a contract concluded with a producer of masts for wind farms in North America. The value of the contract amounts to approx. USD 25 mln.

DLO type cables and control cables will be used for cabling for over 500 wind farm groups. Provision of the cables, which began in October 2007, will continue until July 2008. The cable is manufactured by Zakład Kraków an Zakład Szczecin.

Public Relations Office TELE-FONIKA Kable S.A.

Copper Cable Company to supply cable for Olympic facilities in London

The commercial representative of TELE-FONIKA Kable Group in Great Britain, the subsidiary company Copper Cable Company, began supplying copper and aluminium cable with a voltage of 33 kV for the English energy concern EDF Energy. The value of the contract amounts to approx. GBP 10 mln, and part of the supplied cables will most certainly be installed in facilities constructed for the needs of the 2012 Olympics in London.

A three-year supply began on 1st of October of this year. The cable is manufactured by Zakład Bydgoszcz. Cable tests, in the presence of representatives of EDF, were completed in July 2007. The test results, the modernity of technological lines and control-measurement equipment used for the examination of the quality of cables were obtained with the full endorsement of EDF specialists.

EDF Energy is one of the largest energy concerns in Great Britain. They supply electric energy to over 5 million recipients and employ over 12 thousand workers.

Public Relations Office TELE-FONIKA Kable S.A.

DOW WIRE & CABLE expands capabilities in Latin America

DOW WIRE & CABLE expands capabilities in Latin America
Expanding their strong technical and service presence in Latin America, Dow Wire & Cable announces the addition of experienced personnel and a new structure that will offer direct local support for customers and end users throughout the region. “We are pleased to announce our new team and a new structure that will extend greater accessibility to all customers and end users,” said Adolfo Nieto, Market Manager, Dow Wire & Cable. “As a long-standing business member in Latin America, we have gained significant experience with regional industry needs and practices. We now offer dedicated resources in the north and south regions to complement our decades of strong business relationships. We’re focused on the needs of our direct customers as well as on their customers who are the end users of our solutions. Our goal is to help the entire industry grow successfully and profitably during this exciting time. This new organization structure illustrates our continued commitment to this region. Dow Wire & Cable is actively seeking to further invest in this region to drive even better service to all of Latin America”

 

Dow Wire & Cable brings the broad portfolio of products and services offered by The Dow Chemical Company and its subsidiaries for the transmission, distribution and consumption of power, voice and data, to a local level, offering improved efficiency and time to market along with ongoing product improvements based on specific Latin America needs. To help you select the products and services that will help bring efficiency, longevity, ease of installation and protection to your application, the team outlined below is immediately available to customers and end users:

• Adolfo Nieto, Latin America Market Manager based in Mexico City

• Marcello Mori, Technical Service and Development and End Use Market Manager for North Latin America based in Mexico City

• Christian Noriega, Technical Sales Representative for North Latin America based in Mexico City

• Marcio Alves, Technical Service and Development and End Use Market Manager for South Latin America based in Sao Paulo

• Saul Costa, Technical Sales Representative for South Latin America, based in Sao Paulo

• Myriam Brito, Business Supply Chain Planner based in Sao Paulo, appointed to manage product supply from North America to South Latin America

• Dan Rutherford, Global Product Manager based in Houston, Texas, USA

 

About Dow Wire & Cable Dow Wire & Cable, a global business unit of The Dow Chemical Company and its subsidiaries, provides a broad portfolio of wire and cable products for power, telecommunications and specialty applications. We supply solutions based on the distinct processing and performance requirements of current and next-generation wire and cable products, along with technical support that extends from formulation through installation.

Rio Tinto secures Alcan takeover

Rio Tinto secures Alcan takeover

Anglo-Australian mining group Rio Tinto has said its $38.1bn (£19bn) bid to buy Canada’s Alcan has been successful – securing almost 80% of Alcan’s shares. It has also been guaranteed a further 6% holding in the Canadian aluminium firm and has extended the deadline to other shareholders.

 

Rio Tinto, which is listed on both the London and Australian stock exchanges, is paying $101 for each Alcan share.

 

The takeover had already been approved by US antitrust authorities.

 

“We have been working towards our offer becoming unconditional and have now passed the final milestone,” said Rio Tinto chairman Paul Skinner.

 

The deal will make Rio Tinto the world’s largest producer of aluminium and bauxite.

 

Record metal prices have led to number of takeovers in the global mining industry.

 

“The outlook for aluminium remains strong and the prospects for Rio Tinto Alcan are excellent,” said Rio Tinto chief executive Tom Albanese.

 

In May this year Alcan rejected a $27bn hostile takeover bid from US miner Alcoa on the grounds that it undervalued the firm.

Rising profits in all of Furukawa Electric Co. five major businesses

The Furukawa Electric Co. Ltd released its financial results for 2007 October 24th Net sales were 1,104.7 billion Yen up 26.6% from 872.5 billion in 2006. Net income for the year was 29.8 Billion Yen up 16.8% from 25.5 Billion from 2006. Commenting on the results Mr. Hiroshi Ishihara President & Chief Executive Officer & Chief Operating Officer said: “In fiscal 2007, the Furukawa Electric Group achieved significant gains in revenues and profit compared with the previous fiscal year, with the expansionary trend in the global economy providing a tail wind. We saw particularly strong growth in sales and profit in the telecommunications segment, as demand steadily recovered in the telecommunications sector both at home and abroad, and as our consolidated overseas subsidiary OFS (OFS Fitel, LLC, and OFS BrightWave, LLC, optical fiber and optical fiber cable companies acquired from the U.S. company Lucent Technologies Inc. in 2001). which had previously operated in the red, returned to profitability as planned. In addition, Furukawa enjoyed steady sales in electronics components and automotive-related products and were also able to reflect the surge in the prices of bare metals such as copper and aluminum in the price of our products.

 

As a result, in relative terms, we accomplished our final goal for the Innovations 09 Medium-Term Management Plan of ¥1 trillion in net sales in the first year of the Plan. However, since the increase in net sales for fiscal 2007 was cosmetic, due to the rise in bare metal prices, we will seek to expand sales to achieve an actual increase in net sales.

 

Furthermore, based on expectations that bare metal prices will remain at high levels in the near future, we revised our net sales target for Innovations 09 to ¥1.25 trillion. In terms of profit, we attained growth in all five of our major segments, led by telecommunications.

 

Consolidated operating income significantly exceeded our goals for the first year of Innovations 09 at ¥53.6 billion, up 43.3% compared with the previous fiscal year. The Furukawa Electric Group also implemented the aggressive strategies, which saw active capital investment of ¥41.8 billion, reorganization of the bases of our automotive parts operations in China toward expanding overseas operations and M&A and alliances.

 

Meanwhile, we pursued our objectives of reducing interest-bearing debt, improving asset efficiency and securing funds required for investing in future growth by vigorously reducing sales receivables and inventory and by selling idle assets in a continued effort from the previous fiscal year. We also reorganized and integrated our consolidated subsidiaries to reinforce their management base, internal control system and management efficiency

South Korea LS Cable wins US$122 million Delphi supply deal

South Korea LS Cable wins US$122 million Delphi supply deal

South Korea’s LS Cable Ltd said on Monday it had signed a deal with Delphi Automotive Systems LCC to supply wire worth 111.1 billion won ($122.3 million) to the U.S. auto part maker.

LS Cable said in a filing to the Korea Exchange that it would deliver the wire to eight Asia-Pacific countries such as China. ($1=908.1 Won)