Heavy-duty cylinders behind steel forming machines

Heavy-duty hydraulic cylinders designed for working pressures up to 160 bar have been specified for three Trim-and-Curl machines built by Heinrich Georg for the Walsall Wheelbarrow Company

Parker Hannifin MMB heavy-duty hydraulic cylinders are specified for the control systems on three Trim-and-Curl machines built by special purpose machine manufacturers, Heinrich Georg Manufacturing, for the Walsall Wheelbarrow Company.
The Walsall Wheelbarrow Company is privately owned and operated by the Thacker family, now one of the UKs foremost wheelbarrow manufacturers and acknowledged as the originator of the wheelbarrow as we know it today.
New tooling, presses and the three Trim-and-Curl machines have been introduced as part of a £250,000 plant and machinery investment programme.
The company's engineers worked closely with designers from Heinrich Georg to produce the 'trim and curl' machines.
The machines produce pans for the company's new market leading professional wheelbarrow ranges - the 85 litre Valiant, the 95 litre Endurance and the 120 litre Invincible - for use in the construction, agricultural, horticultural and DIY market sectors.
These new wheelbarrows have a particularly low centre of balance, coupled with better weight distribution and an improved frame design.
"Our customers want quality, but they want it at the right price', commented Managing Director, Les Thacker.
"We have to make sure that we have the best manufacturing processes in the business.
Heinrich Georg has long been recognised as a premier OEM manufacturer of machines for the world's steel industries, which feature only the best engineered components and systems available.
The Trim-and-Curl machines can each produce up to 500 wheelbarrow pans a day.
The pans are produced from 0.8 mm to 1.2 mm steel in the three different depths.
Each machine features four Parker MMB heavy-duty hydraulic cylinders: to control the cutting heads which trim the pans to the correct size; and to control the forming heads which 'roll' the rim of the pan to eliminate the possibility of sharp edges.
Parker Hannifin MMB heavy-duty 'mill' cylinders are designed for working pressures up to 160 bar, in arduous applications such as steel mills where a rugged durable cylinder with a clean external design is required..
http://www.engineeringtalk.com/news/par/par169.html

Parliament approves loan for 13 heavy duty washing machines

 Parliament on Friday approved a 2.8 million Euro loan agreement between Ghana and the KBC Bank of Belgium for the supply and installation of heavy duty washing machines for 13 hospitals in the country.

    

The loan, which has a grace period of 10 years and repayment period of 20 years would among other things ensure the transportation, collection and processing of soiled linens in hospitals in a more decent manner.

    

The acquisition and installation of the washing machines would also reduce the risk of health workers who were hitherto exposed to infections such as hepatitis "A" since soiled linens were a major cause of infections in most hospitals.

    

Mr. James Klutse Avedzi, Chairman of the Parliamentary Select Committee on Finance who made this known gave the assurance that the loan would also step up the health delivery system by reversing the lack of automated laundry services in hospitals.

   

Other loans approved by Parliament included a 28 Million Euro loan facility between Ghana and Fortis Bank N.V of The Netherlands for the rehabilitation and upgrading of the Tamale Teaching Hospital and a $21.72 Million- Dollar loan from Export-Import Bank of India to finance improved fish harvesting and fish processing project as well as the supply of waste management equipment.

  

The rest are a $13.5 Million loan from the OPEC fund for International Development and Arab Bank for Economic Development in Africa for the upgrading and expansion of the radiotherapy and nuclear medicine services in Korle-Bu and Komfo Anokye Teaching Hospitals.

http://www.ghananewsagency.org/s_social/r_10360/

Sany Heavy Equipment gets going as Mingfa finally crosses the finish line

As the Chinese manufacturer of tunnelling machinery starts its roadshow, Mingfa mines new lows in terms of Chinese property IPO valuations.

Sany Heavy Equipment International, a Chinese manufacturer of coal mining equipment, on Monday launched an initial public offering that could raise up to HK$2.4 billion ($309 million). At the same time, Chinese property developer Mingfa Group has completed its prolonged IPO, raising $278 million.

Sany is selling 500 million shares, all primary, at a price between HK$4.10 and HK$4.80. This translates into 11.1 to 13 times 2010 projected earnings.

The company is China's leading manufacturer of roadheaders, which are machines used in mining to create tunnels. Its competitive edge is that it is able to manufacture roadheaders in China at a level of quality that allows it to compete with international players, but at a significantly lower price. It is also the first Chinese company to have branched out into making combined coal mining machinery, which incorporates mining, structural support and conveyance, into one automated unit.

The company is part of the Sany Group, a major supplier of equipment to civil engineering and construction firms in China. The other main company in the group is Sany Heavy Industry, a Shanghai-listed outfit that manufactures engineering machinery for construction use.

Coal mining equipment is a rapidly growing sector in China, partly because the increasing cost of coal has allowed miners to earn enough cash that can be used to splash out on better equipment. And there is a growing emphasis on quality, because a malfunctioning machine, even for just a day, can lead to large losses. Sany is already benefiting from these trends. In the first half of 2009, net profit was Rmb250 million ($37 million), 222% up on the same period last year.

There are already two cornerstones investors in the IPO: Government of Singapore Investment Corporation (GIC), Singapore's largest sovereign wealth fund, will take $25 million worth of shares; and GE Capital will invest another $12.5 million.

HSBC and Standard Chartered are joint bookrunners for the deal, which is expected to price on November 17.

As Sany's IPO gets going, another deal finally got done. Mingfa priced its IPO at HK$2.39 a share, at the middle of an indicative range that went from HK$2 to HK$2.89, raising $278 million.

This is well below the amount the company was looking for at the outset. Last month it launched the offering on terms that could have raised as much as $440 million. At the time, other developers were postponing their deals or pricing near the bottom. Although the deal could have been covered at the original range, according to a source, Mingfa decided to relaunch its IPO with a lower price range in order to give aftermarket trading a boost.

Institutional investors that had subscribed to the deal on the first set of terms were said to stay in at the lower price. They included a mix of long-only funds, hedge funds and property specialists. The retail tranche was approximately 80% covered.

The final price values the company at a discount of 68.2% versus its estimated 2010 net asset value (NAV), which sets a new valuation low among the recent flurry of IPOs by Chinese developers. To put this into perspective, another developer, Evergrande Real Estate raised $726.2 million at a 48.5% discount to NAV in a deal that was generally considered to be cheap. Meanwhile, Longfor Properties is looking for up to $916 million at a discount of between 30% and 39% to 2010 NAV in a deal that is due to price today, and Fantasia Holdings Group is trying to raise as much as $413 million at a discount of between 54.3% and 62.8%.

Bank of America Merrill Lynch, Bocom International and Deutsche Bank were joint bookrunners for Mingfa's IPO.
http://www.financeasia.com/article.aspx?CIaNID=116506

Mitsubishi Heavy 1H Grp Net Loss Y3.10B Vs Y29.03B Pft Yr Earlier

Mitsubishi Heavy Industries Ltd. (7011.TO)
Tokyo
1st Half Ended September 30
GROUP 2009 2008
Revenue Y1.32 tln Y1.57 tln
Operating Profit 25.11 bln 72.72 bln
Pretax Profit 2.65 bln 75.50 bln
Net Profit (3.10) bln 29.03 bln
Per share
Earnings (0.92) 8.65
Figures in parentheses are losses.
Results are based on Japanese accounting standards.




Mitsubishi Heavy Industries Ltd. also released the following forecasts:
GROUP Year Ending
Mar 2010
Revenue Y3.00 tln
Operating Profit 65.00 bln
Pretax Profit 20.00 bln
Net Profit 12.00 bln
Per share
Earnings 3.58
Results are based on Japanese accounting standards.






TOKYO (Dow Jones)--Mitsubishi Heavy Industries Ltd. (7011.TO) said Friday that it swung into the red in the first half as cautious corporate sentiment for increasing capital spending dented sales of its machinery products as the yen's appreciation reduced income from overseas markets.

The Tokyo-based heavy machinery maker posted a net loss of Y3.10 billion in the six months ended Sept. 30, a reversal from a net profit of Y29.03 billion in the same period a year earlier.

Sales fell 16% to Y1.322 trillion in the first half from Y1.575 trillion a year earlier.

For the current fiscal year through March, Mitsubishi Heavy left unchanged its forecast, projecting a net profit of Y12 billion on sales of Y3.000 trillion.

Mitsubishi Heavy reports its earnings under Japanese accounting standards.
http://online.wsj.com/article/BT-CO-20091030-700481.html

Mitsubishi Heavy Expects 1st Half Group Net Loss Y3.1 Billion

TOKYO -(Dow Jones)- Mitsubishi Heavy Industries Ltd. (7011.TO) said Friday it now estimates a net loss Y3.1 billion for the first half ended Sept. 30, citing a slump in sales of some industrial machinery products and the yen's strength.
The Japanese shipbuilder and heavy-machinery maker blamed declines in sales of the industrial machinery category, which includes forklift and machine tools, amid flagging demand. Sales of the other segments, generators and shipbuilding also remained weak. It also noted that he yen's strength hurt profitability during the latest reporting period.
The projected interim net loss compares with a net profit of Y29.0 billion in the same period a year earlier.
The company also expects a 16% on-year fall in sales to Y1.322 trillion with a 66% decline in operating profit to Y25.1 billion.
The company will give outlook for full year earnings when it releases interim results Oct. 30.
-By Hiroyuki Kachi, Dow Jones Newswires; 813-6895-7562; Hiroyuki.Kachi@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=ZB8C9jZ9uAK8axaKl9M%2FEA%3D%3D. You can use this link on the day this article is published and the following day.
http://www.easybourse.com/bourse/actualite/mitsubishi-heavy-expects-1st-half-group-net-loss-y-1-749731

Heavy Machinery

World of Wonder's MACHINES OF MALICE: THE INQUISITION premieres tonight at 10PM Eastern on the Discovery Channel. Put yourself in the hot seat as this episode tests out torturous atrocities like "The Interrogation Chair," above left. GETTING A LITTLE OUT-OF-JOINT: Find out how Inquisitors turned everyday objects into horrific devices to "help" the accused see the error of their ways... and thoughts, above right.
HARD TO STOMACH: Machines of Malice tests exotic torture devices like the "Revolving Drum," below left, a contraption supposed to grind away at the accused during questioning. A SLICE OF HUMAN HISTORY: Find out how religious zealots engineered fear and terror so entire populations would conform to their specific beliefs. Below right, the "Skin Peeler. (Text and photos by Nick Perlmuter)

http://worldofwonder.net/2009/09/28/Heavy_Machinery/

Sector Snap: Heavy machinery makers slipping

Shares of heavy machinery makers slipped Wednesday after a government report disclosed that orders for nonmilitary, non-aerospace goods fell last month.

The Commerce Department said that while the overall level of order for durable goods - items expected to last at least three years - rose in July, orders for products like tractors, construction equipment and diesel engines declined 0.3 percent.

Cliff Waldman, economist for the Manufacturers Alliance/MAPI, called the government report disappointing.

"New orders for non-defense capital goods, excluding aircraft, a proxy for business equipment spending, slipped a bit after two strong months and remains more than 20 percent below year-ago levels," he added.

"U.S. and global activity has stabilized and financial conditions have improved modestly," Waldman said. "But business decision makers are going to have to see firmer and more consistent evidence of a return to the type of economic conditions that will produce solid profits before they are willing to more consistently strengthen their investment commitments and add capacity."

Paul Ashworth, U.S. senior economist for Canada-based Capital Economics Ltd., said the data "is a little concerning as far as the outlook for business investment goes."

In morning trading, shares of Deere & Co. fell $1.32, or 2.8 percent, to $44.99, Joy Global Inc. declined $1.20, or 3 percent, to $39.26 and Cummins Inc. slipped $1.95, or 4.1 percent, to $46.05.

http://www.forbes.com/feeds/ap/2009/08/26/business-specialized-consumer-services-us-heavy-machinery-makers-sector-snap_6817614.html