Latrobe, US: Kennametal has been named for the fourth consecutive year among the World’s Most Ethical Companies by the Ethisphere Institute. The designation recognises organisations that lead in the standards and practices of ethical business conduct by cultivating a culture of ethics and transparency at every level, and performing to the highest standards. The cutting tool producer is one of only four companies in the machine tools and accessories category honoured this year.
Germany: Deliveries by Volkswagen Passenger Cars remained stable in February. The brand handed over 413,700 vehicles last month, matching deliveries for the same month of the previous year in a difficult environment. A total of 920,700 (January-February 2014: 935,200; -1.6 percent) vehicles were therefore delivered to customers in the first two months of the year.
“The situation on world markets remains tense,” said Christian Klingler, board member for sales and marketing for the Volkswagen Group and the Volkswagen Passenger Cars brand.
In the Asia-Pacific region, the brand recorded a slight 0.5 percent rise in deliveries from January to February, handing over 475,200 (472,600) vehicles to customers, of which 441,600 (437,700; +0.9 percent) were delivered in China (including Hong Kong).
Singapore: DHL Express has unveiled the blueprint of DHL Express South Asia Hub, a 24-hour express hub facility located within Changi Airfreight Center at Singapore Changi Airport. The new facility, in line with the company’s global investments to bolster network connectivity, will cost the company some US$102 million and this figure is the largest infrastructural amount invested by DHL.
Occupying a land area of 26,200 sq m and a total floor area of 23,600 sq m, the hub features the first fully automated express parcel sorting and processing system in Singapore and South Asia. Upon completion, the facility will be able to handle a cargo throughput of more than 628 tonnes per day when at full capacity and process shipments at the speed of 14,000 shipments per hour. In comparison, the manual processing system in the current facility handles up to 225 tonnes per day at a speed of 2,400 shipments per hour.
Göppingen, Germany: The press manufacturer Schuler has recorded growth in new orders of 2.6 percent to €1.19 billion (US$1.31 billion) in its fiscal year 2014. “We achieved significant growth in Asia, including one of the largest orders in our 175-year history. We also received major orders in new market segments, such as equipment for the production of large pipes,” stated the company’s CEO Stefan Klebert. The Asian market accounted for 34.1 percent of total new orders and was the second-largest sales market after Europe (45.9 percent).
As part of an investment program totalling over €90 million, the company is investing some €10 million to build a demonstration centre in Tianjin, some 150 km south-east of Beijing. The reason behind building this centre in China is simple.
“There is growing interest in China for presses with our modern ServoDirect Technology,” stated Mr Klebert. The company said that the centre will be one of eight customer centres around the world.
China plays a central role in the company’s strategy and is the source of one third of its revenues. The company aims to serve the mid-price segment in Asia better in future “as we see huge growth potential here,” said Mr Klebert.
Mitsui Seiki has evolved its Vertex 550-5X line of machines with new features and capabilities, and a broader range of options and configurations within the series. The model series, comprising six distinct models, is now called Vertex 55X II. Linear axes (X, Y, Z) strokes are 550 mm x 600 mm x 500 mm.
Until now it has been difficult to monitor and ensure that micro holes of consistent quality and diameter have been laser perforated. Typically these holes have diameters less than 120 microns while the packaging film moves with some 100-400 m/min.
Cleaning Technologies Group has developed the LeanJet RB-1 Cleaning System. According to them, it uses a patented washing and rinsing process of agitation, spray impingement, hydraulic purging through immersion and rotation, ultrasonics, and heated blow-off drying.
South Korea: Posco has recorded sales revenue of KRW 65,098.4 billion (US$58.9 billion) and business profit of KRW 3,213.5 billion on a consolidated basis. Despite the slump in domestic and international market conditions, sales revenue increased by 5.2 percent and business profit margin also grew by 7.3 percent. Net profit recorded KRW 556.7 billion due to the reflection of temporary non-operating loss, such as losses associated with tax investigation.
The company’s own sales consist of revenue of KRW 29,218.9 billion and business profit of KRW 2,350 billion. It has set a goal of achieving EBITDA KRW 8,500 billion and three times lower debt to EBITDA on a consolidated basis in 2016. Its result for the first year of the mid-term management plan show it is on track, having achieved EBITDA of KRW 6,500 billion and 4.4 time lower in debt to EBITDA on a consolidated basis.
According to the company, they plan to strengthen the competitiveness of steel this year. It aims to sell 50 million tons of steel products. In addition, it will increase its current number of global Technical Service Center (TSC) to 29 centres and expand in the share of high-profit World Premium (WP) products by 36 percent in order to increase profitability.
All in all, the company targets sales revenue of KRW 67,400 billion on a consolidated basis, and KRW 29,300 billion on a single basis. The target of crude steel production and product sales on a single basis is 38.40 million tons and 35.90 million tons respectively. It has set a target of EBITDA in 2016 of 8,500 billion KRW.
Vietnam: Nippon Steel and Sumitomo Metal Corporation (NSSMC) has established its Vietnam Representative Office in Ho Chi Minh City, Vietnam, through its subsidiary Nippon Steel & Sumitomo Metal (Thailand).
With this representative office, which collects information locally and serves as a contact for steel plate sales and technical service assistance, NSSMC intends to respond appropriately to growing needs in the Vietnamese market.
Among the ASEAN countries, Vietnam is a major country following Thailand in the Great Mekong Sub-region. Over the medium to long term, sustainable economic growth is projected along with the establishment of social capital. In terms of steel demand, it is also a promising growing market led by demand related to infrastructure and energy.
South Korea: Hyundai Motor will invest KRW 2 trillion (US$1.8 billion) over the next six years to enhance its global commercial vehicle competitiveness.
Some KRW 1.6 trillion will be invested on developing new models and engines to strengthen global commercial vehicle competitiveness. Another KRW 400 billion will be invested on increasing production capacity of Jeon-ju plant from the current 65,000 units to 100,000 units by 2020.
As a result, the company expects to hire additional 1,000 employees to support the increased production capacity. Also, it plans to construct new Pilot Center and Global Training Center within Jeon-ju plant.