August 2006 News Archives

For CURRENT News click here.

Low-cost Oxygen Sensor from Marathon Sensors Inc.

(August 31) - We recently ran a PR from Marathon's China company about their new, low-cost "CarbonKing" probe and today we're running news of a new low cost probe from the Cincinnati company:

"Marathon Sensors Inc., a wholly owned subsidiary of MMI Corp, announces the introduction of the new Headless Probe for atmosphere heat treating. The new probe is the latest addition to the arsenal available to heat treaters for controlling atmosphere.

The Headless Probe, which is manufactured in Cincinnati, Ohio, is based upon Marathon’s acclaimed Carbonseer – the best and most reliable oxygen probe used in atmosphere heat treating. The difference between the two probes lies in the thrifted composition of the Headless Probe. The design is more compact and has the flexibility for either 1.05” or 0.84” diameter sheaths and the sheath is made from high quality alloy.

“In order to meet the diverse needs of our customers, it is important to produce a variety of probes,” says Erika Leeds, Customer Service and Sales Manager for Marathon Sensors. “We serve many heat treatment customers all over the world and the need for a flexible format, thrifted probe had to be met and we are doing it with the Headless probe.”

The Headless probe is also available in bundle quantities for larger users and OEMs. Contact Marathon to discuss how the Headless Probe can work for your business."

More Bodycote Naysaying

(August 30) - Granted, we at HTN.com aren't experts in any stock market stuff, but it seem really strange that a company that grew profit some 22% is getting slammed so hard by stock market folks. The latest thing we saw was that Goldman Sachs has cut Bodycote's target share price:

Goldman Sachs cuts Bodycote's (BOY.LN) target to 275p from 285p due to ongoing lower margins in its materials testing division. Says the performance of shares going forward depends on a change in market sentiment in the sustainability of IP growth or Bodycote delivering results above forecast. Goldman believes the stock may struggle to outperform its peers as many issues that held back 1H results are still a factor in 2H. Reiterates neutral rating. Shares trade -0.6% at 235.5p.

Again, we don't know anything about stocks and stock markets but it makes you wonder if now is a good time to buy some Bodycote stock.

"Bodycote's Leap Disappoints"?!

(August 28) - Last week we had news of Bodycote's latest financials that seemed pretty darned impressive. Turns out that their good results were only "expected" and no better and, as a result, their stock dropped quite a bit. Here's a snippet from the Telegraph:

"Metal treatment specialist Bodycote International unveiled interim results that failed to excite the City.

A strong set of figures, with pre-tax profits leaping 28pc to £34.8m, left analysts unimpressed, as they came in line with expectations and provided no reasons for forecasts to be upgraded.

Macclesfield-based Bodycote, which treats metals for automotive, aerospace and power generation companies, said revenue from continuing operations rose by 21.8pc to £279m. Chief executive John Hubbard said he was "confident that our full-year results will be in line with our expectations".

But analysts were disappointed that Bodycote had not benefited more from what many commentators believe is the peak of the industrial cycle. The market had been hoping the Bodycote figures would trigger upgrades, with the sector enjoying record demand for engineering services from multinational oil and mining companies.

But, with Mr Hubbard warning that if the pound remained strong, second half operating profit would be approximately £1m lower than the same period last year, the shares fell 11½ to 237p. The shares traded at a year high of 299p in May."

SECO/WARWICK Rolls On!

(August 25) - Looks like another nice order for SECO/WARWICK:

"Gulf States Tube LTD. has purchased a roller hearth annealing furnace system to process 10,000 pounds (4500 kg) per hour of 1” (25 mm) diameter tubing to increase production at their Texas facility. The tubing will vary in size from 5/8” to 2” (16 to 50 mm) outside diameter, with output rates varying with process requirements of the tubing being processed.

The complete system including furnace, load/unload tables, control system, Exogas® (exothermic) generator and refrigerant dryer will be designed and manufactured in the SECO/WARWICK Pennsylvania facility. Delivery is scheduled for late November 2006."

American Axle & Manufacturing Announces Q3 Dividend

(August 24) - While Bodycote got the shareholder spotlight yesterday, today we have American Axle announcing a $0.15 per share dividend (compared to Bodycote's 2.5 pence which is about $0.045 so that's about three times more). Not bad at all for a company seemingly reliant on the automotive industry. Here's the PR:

DETROIT, Aug. 23 /PRNewswire-FirstCall/ -- American Axle & Manufacturing Holdings, Inc. (AAM), which is traded as AXL on the NYSE, today announced a cash dividend of $0.15 per share payable on September 28, 2006 to stockholders of record on all of the Company's issued and outstanding common stock as of September 7, 2006.

AAM is a world leader in the manufacture, engineering, design and validation of driveline and drivetrain systems and related components and modules, chassis systems and metal-formed products for light trucks, sport utility vehicles and passenger cars. In addition to locations in the United States (in Michigan, New York and Ohio), AAM also has offices or facilities in Brazil, China, England, Germany, India, Japan, Luxembourg, Mexico, Poland, Scotland and South Korea.

For more information visit the AAM website at http://www.aam.com

Bodycote Interim Results

(August 23) - Bodycote has release their interim results along with a PowerPoint presentation here. Here are a few of the highlights they're stressing on the Bodycote website:

FINANCIAL HIGHLIGHTS

• Revenue from Continuing Operations increased by 21.8% to £279.3 million (2005: £229.3 million)
• Headline Operating Profit (1, 2) £40.6 million (2005: £33.1 million), up 22.7%
• Headline Profit Before Taxation (1) rose 20.2% to £35.1 million (2005: £29.2 million)
• Profit Before Tax from Continuing Operations £34.8 million (2005: £27.3 million), up 27.5%
• Operating Cash Flow increased by 26.6% to £50.9 million (2005: £40.2 million)
• Headline Earnings Per Share (3) increased by 23.5% to 8.4 pence (2005: 6.8p)
• Interim Dividend 2.5 pence per share (2005: 2.35p), up 6.4%

OPERATIONAL REVIEW

• 10 acquisitions completed in first half for £51 million
• Increased demand in key markets – aerospace, power generation, oil & gas and health sciences
• Energy costs increasing, but recovery continuing
• Strategic Partnerships and Long Term Agreements represents 20% of sales, up 15% in absolute terms
• ROCE increases by 1.3 percentage points

(1) Expressed before impairment of goodwill (£nil: 2005 £1.8m) and amortisation of acquired intangibles (£0.3m: 2005 £0.1m).
(2) Expressed before interest and tax on associates (£0.6m: 2005 £0.5m).
(3) A detailed breakdown can be found in note 3 of the consolidated financial statements.

Ford to Idle 10 Plants - Cuts Production 21% for Rest of 2006

(August 21) - Ford has announce plans to idle ten plants for much of the remainder of the calendar year as it slashes fourth quarter production by some 168,000 vehicles - a whopping 21% decline from the prior year.

Most notably, the production of the F-series pickups - the US's #1 vehicle for years running - is being ground to a near-halt with the four plants that produce the trucks on the idle list.

All companies adjust production to meet demand, but these cuts are the steepest at Ford sine the early eighties auto slump.

Some 30,000 workers are employed at the 10 plants but their salaries are guaranteed under UAW contracts.

Mainstream News to Warm the Heart!

(August 16) - A few weeks ago we ranted a bit about SPAM flooding our e-mailboxes. We're happy to say a new SPAM firewall has cured our problems, but we were still very pleased to see the news today that AOL won a $12.8 million award against one of the country's biggest spammers.

Not only that, but they won a court order to dig on this guy's parent's property where it is believe he has burried gold and platinum bars - the spoils of his intrusive campaign of SPAM. Not that we're big AOL fans, but this is exactly the kind of stuff that's needed to stop spammers. You can read all about it here.

Solar Lands Order in Australia

(August 15) - We recently told you about a Solar Manufacturing order from Thailand and now we have word of a new order coming out of Australia:

Souderton, PA - Solar Manufacturing continues to expand into the international market with the announcement of a new vacuum furnace order for The LSW Group Pty. Ltd. located in Bankstown, Australia. The LSW Group is home to one of the largest Heat Treatment and knife companies in Australia. This furnace features a high efficiency, graphite insulated hot zone consisting of four layers of ½” thick WDF grade graphite felt with a hot face of FlexShield. Operating temperatures will be at a maximum of 2500ºF, with the work zone measuring 36” wide x 36” high x 48” deep and a load capacity of 3500 pounds. “Thin-profile, curved” graphite heating elements will heat work loads rapidly and uniformly, while the improved, tapered graphite gas nozzles will focus quench gas directly on the work load for optimum gas cooling and a diffusion pumping system for high vacuum applications. Also included is the SolarVac 3000, a state-of-the-art, interactive control system which enables the furnace operator to monitor, control, and graphically view displayed information for total furnace control. The newly designed 2-bar external gas quench system will consist of a 150 HP motor, and a Robinson radial fan wheel and diffuser. Shipment is anticipated for a February 2007 delivery.

Can-Eng Installs Car Bottom Furnace

(August 14) - Industrial Heating is reporting that Can-Eng Furnaces Ltd. has completed the installation of a 120-metric-ton ingot and bar annealing car bottom furnace for International Stell and Tube Industries Ltd. Read the full IH release here.

MMI China Releases the Carbonking Carbon Sensor

(August 9) - Marathon's China subsidiary, "MMI-China," has begun manufacturing product for the Chinese market at their facilities in China. Here is there latest release:

Marathon Monitors and Control Systems (Beijing) Corp, a wholly owned subsidiary of Marathon Multinational Industries (MMI), USA, is pleased to announce that it has begun manufacturing, marketing, and distribution of the new high-performance "Carbonking" oxygen sensor for atmosphere heat treating applications.

This series of new sensors is derived from the designs of Marathon-Beijing's sister company, Marathon Sensors Inc.(USA). It is currently only manufactured in China. In addition to sales within the Greater China region, the Carbonking probe is also available for export throughout Asia.

The new line of "Carbonking" sensors marketed by MMC, can be used in all heat treat Carbon Controlled processes, Carburizing, Carbonitriding, Sintering and Annealing etc. All service and support is provided locally by Marathon-China and it's partners throughout the region.

For additional information please contact Mr. Yakun Liu, General Manager

MMI-China (Beijing)

Marathon Building

Xi'erqi Subway Station Square

Haidan District

Beijing, 100085, China

yliu@mmichina.cn

www.mmichina.cn

Wednesday's News Withdrawn

(August 8) - Unfortunately our news release for Wednesday has been withdrawn at the request of the submitting company as it had not yet been cycled through their review process. We will repost at a later date.

Wheeling-Pittsburgh Announces Arrangement with CSN

(August 7) - Wheeling-Pittsburgh Corp. (www.wpsc.com) has negotiated an arrangement that combines the North American assets of Companhia Siderurgica Nacional (CSN) with Wheeling-Pittsburgh. Here's part of the PR (for the full release click here):

WHEELING, W.Va., Aug. 3 /PRNewswire-FirstCall/ -- Wheeling-Pittsburgh
Corporation (Nasdaq: WPSC) today announced that it has negotiated the
material points of an arrangement that, when completed, would combine the
North American assets of Companhia Siderurgica Nacional ("CSN") (NYSE:
SID), a leading, fully-integrated global steel producer, with Wheeling-Pittsburgh to create a strong, well-capitalized steel producer with a more flexible cost structure, broader value-added product offering, access to CSN's product and process technology, and significant ncremental earnings potential. The Company expects to complete and file definitive ocumentation upon expiration of the "right to bid" period set forth in the United teelworkers' ("USW") bargaining agreement unless the USW or its assignee files a competing bid for consideration by Wheeling-Pittsburgh Corporation's Board of Directors prior to the expiration of that period.

James G. Bradley, Chairman and Chief Executive Officer of Wheeling-
Pittsburgh stated, "Since emerging from bankruptcy in 2003, our Board of
Directors has evaluated a broad range of options for maximizing value for
our shareholders. The proposed transaction with CSN is the culmination of
an extensive and rigorous process, which included exploratory discussions
with a broad range of potential partners. CSN is a world-class, low-cost
Brazilian producer of 5.6 million metric tons of steel, and this
transaction presents Wheeling-Pittsburgh with a unique opportunity to
improve scale and production, generate significant operating efficiencies
and broaden our product portfolio. Our Board strongly believes that the
proposed transaction with CSN offers our shareholders the most compelling
value proposition over the long term and, in particular, will deliver
significantly more value than the most recent proposal by Esmark."

Metals-India Adds Abar Ipsen Turbotreater

(August 3) - We received the note below from Rakesh Gupta of Metals-India in Ballabgarh, India yesterday. Looks like a busy heat treat that's adding capacity. Nice web site too.

Have You Locked in Your Winter Natural Gas Contract?

(August 2) - If you watch that graph on the right side for gas prics you've probably noticed gas prices climbing again...might be a good time to lock in some futures...

New SECO/WARWICK Order

(August 1) - It looks like another nice order for SECO/WARWICK from the Royal Canadian Mint today.

The Royal Canadian Mint Purchases 2nd HPQ Furnace

Meadville, Pennsylvania – The Royal Canadian Mint has purchased a new HPQ furnace from SECO/WARWICK for their die manufacturing facility in Winnipeg, Canada. This is the second HPQ provided by SECOWARWICK, the first unit is installed in Ottawa.

The 15.0VPT-4025/24HV is an advanced cold wall, front-loading high vacuum furnace incorporating high pressure gas quenching. The furnace with diffusion pump for high vacuum operation is of a compact design with an internal re-circulation blower and heat exchanger, requiring minimum floor space.

Durable graphite insulation and heaters provide long, reliable service in this heavy-duty furnace designed for the industrial work place. The pumping system, power supply and cooling systems are generously sized to enable a wide range of industrial heat treatment applications including quench hardening and tempering, degassing, annealing and solution heat treatment. A convection fan provides fast, uniform heating and allows hardening and tempering in an automatically sequenced cycle. The gas system includes a multi-nozzle gas feed arrangement to optimize the uniformity and speed of load cooling during quenching.

Furnace Data
- Useful dimensions (W x H x L): 600 x 400 x 600m(24” x 16” x 24”)
- Load Capacity: 300 kg (660 lb.)
- Maximum Design Temperature: 2400°F (1320C)
- Maximum Gas Cooling Pressure: 15 bar abs.

For more information on Vacuum Furnace Technology from SECO/WARWICK, visit http://www.secowarwick.com/vacuum.html.

For more information on High Pressure Quench furnaces with Low Pressure Vacuum Carburizing, call Janusz Kowalewski, VP Vacuum Systems at +1-814-332-8491, or email jkowalew@secowarwick.com.

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