Speciality steel and wire rope manufacturer Usha Martin has reported a consolidated loss of INR 21.35 crore during the Q1 of the current fiscal against a net profit of INR 4.09 crore in the corresponding quarter of the previous fiscal.
Earnings came under pressure because of a 59% rise in depreciation and amortisation expenses at INR 116.05 crore even as consolidated net sales increased 24.4% to INR 1,155.28 crore. The earnings before interest, depreciation, taxes and amortisation stood at INR 211.14 crore against INR 181.32 crore in the same period a year ago. Continue reading
Rigging is a very important process in most of the businesses today, especially construction and shipyard industries. Rigging can be referred to any hardware and/or equipment that the businesses use to attach heavy objects to the device that will lift it. It is also defined as the process or an art to hook the load or the heavy object to the lifting device by using the most durable slings and other required hardware/equipment.
Read more of Holloway Houston’s article on the rigging requirements that should be followed to ensure workers’ safety.
By Nick Greenhalgh SPECIAL TO THE TELEGRAM & GAZETTE
T&G Staff Photos/TOM RETTIG
Working with family members can often be problematic, frustrating and difficult.
Only 30 percent of family businesses survive to be handed down to a second generation; that number dwindles to 12 percent for the third generation, according to the Family Business Institute.
St. Pierre Manufacturing Corporation in Worcester is bucking this trend. The St. Pierre family is already onto their third generation of employees and are still growing, said Richard P. St. Pierre, manager of the company’s lifting division.
“It can be very difficult, but it’s now smoothing out,” said Mr. St. Pierre, 67. “It can be difficult working with younger people thinking they know more than they do.” Continue reading
This year’s 46th Offshore Technology Conference held at the Reliance Centre in Houston attracted record numbers with 108,300 visitors arriving through the doors.
Bridon retained their prime position in the main hall on one of the main routes through the show attracting a high number of visitors to the stand. This exhibition is key to Bridon’s Oil & Gas strategy as the show brings together a wealth of industry leaders and key decision makers. Continue reading
Redaelli – the Italian Company global leader in the design and production of wire ropes and systems for the engineering of tension structures has taken part in the construction of three new stadiums in Brazil, which will host the 2014 Fifa World Cup: the Arena Fonte Nova in Salvador, theEstádio Beira-Rio at Porto Alegre and the Estàdio Nacional Manè Garrincha in Brasilia, the country’s capital. Continue reading
Elko Wire Rope of Arizona donated $1,000 to the Boys & Girls Club of the Gila Valley and became one of the Club’s latest sponsors.
Presenting the check are, from left, Elko General Manager Victor Giacoletti, Club Director Aimee Staten, Elko sales representative Andrew Arbizo and club board member and staff member Sylvia Lopez.
Badger Plug’s spool kits contain all components for assembling spools on site fast and easy – or can be ordered pre-assembled. Badger Plug’s extended line of spool kits, are ideal for many OEMs and commercial and retail resellers producing and/or packaging flexible products such as hose, cables, wire, light chain, etc. Kit components include spool cores, flanges and spool plugs. Flanges are available in corrugate, chipboard, MDF or hardboard (HDBD). Plastic or metal self-locking spool plugs secure spool ends to the core and are available for light to heavy-duty applications. Flanges come in a wide range of shapes and sizes, including viewing slots, bolt holes, hand holes and barrel grooves. Other custom configurations are available. Visit www.badgerplug.com for more information.
Alps Wire Rope Corporation recently announced via LinkedIn the addition of Tony Lockhart to their Inside Sales team in Saint Charles, IL. Tony comes from ASC Industries and brings 15+ years of experience in the wire rope industry to the job. Alps Wire Rope is excited to have him a part of their team.
Alps Wire Rope Corporation is a full line wire rope provider, with four warehouses located in Chicago, IL; Harrisburg, PA; Houston, TX; and, Los Angeles, CA. Please join Alps in welcoming Tony! For more information on Alps Wire Rope please visit their website: www.alpswirerope.com
WireCo WorldGroup Inc. (WireCo), the world’s leading producer and marketer of specialty steel wire ropes and high performance synthetic ropes, announced April 16th that WireCo has acquired the majority of the assets of Endenburg B.V. (Gouda), a Netherlands based company. As part of the agreement, WireCo will establish a crane rope distribution center at the current Gouda location, called the WireCo Crane Center. Continue reading
It’s a time of celebration as Alps Wire Rope Corporation completes their realignment of facilities. Alps’ Columbus Ohio warehouse moved to their new location in Harrisburg, Pennsylvania.
The new warehouse in Harrisburg, Pennsylvania is now open for business! The new address for Harrisburg is 1549 Bobali Drive, Suite C, Harriburg, PA 17104. Continue reading
The Times of Northwest Indiana is reporting that Sandin Manufacturing, a wire rope and cable business based in Michigan City, Indiana, will get about a third bigger after an upcoming expansion.
The article describes the expansion as follows:
“Sandin Manufacturing in Michigan City plans to grow in order to serve European markets. The family-owned company already distributes its products nationally, and recently got certification to export stainless steel wire rope, galvanized steel strand and other products to Europe.
The company will add 28,000 square feet of additional space to its 50,000-square-foot facility on Ind. 212 on the northeast side of Michigan City. The company plans to add eight more entry-level and mid-level workers.
Hiring will begin this winter. Continue reading
The World is looking with anticipation to Sochi, Russia, the city hosting the 22nd Olympic Winter Games. Teufelberger will be involved in the olympics in two ways – with steel wire ropes for rope ways and slope groomers.
A total of ten ski lifts in the Olympic ski area, from drag lifts to state-of-the-art VIP gondola lifts, were equipped with TEUFELBERGER ropes. And, Prinoth slope groomers fitted with TEUFELBERGER winch ropes will ensure perfectly groomed slopes for the Olympic alpine skiing and snowboard events. Continue reading
Wire rope and speciality steel manufacturer Usha Martin, India’s largest and the world’s second largest steel wire rope manufacturer, recently posted more than a 50% decline in consolidated net profit to Rs 15.43 crore for the third quarter of the current financial year. The company’s net profit stood at Rs 30.41 crore in the previous corresponding period.
The sharp drop in net profit was due to sluggish demand of steel across the world and on account of interest and depreciation charges, as well as continued political unrest at its production plant in Thailand, according to Usha Martin Managing Director Rajeev Jhawar. However, the company also cited that the Wire Rope business has shown significant growth in new export markets like Brazil, Russia, and China.
Seventy year old, Tway Lifting Products has recently achieved ISO9001-2008 certification. This accomplishment positions Tway as the only ISO certified rigging equipment manufacturer in the region. In September, Tway Lifting produced their first 2 inch diameter Wire Rope Sling with an ultimate strength of 370,000 pounds. Wire Rope Slings have been used in manufacturing and construction to lift machinery and building products as well as in steel mill operations for over a century. Providing the highest quality product of this size required Tway Lifting Products to make significant investments in personnel, capital equipment and training at their Indianapolis, Indiana location. The 24,000 foot plant manufactures certified lifting equipment from USA-Made raw materials by The Crosby Group, Wireco, Loos & Co., Bridon and Bethlehem Wire Rope. Continue reading