What's Happening in Markets
Staff -- Purchasing, 6/2/2005
- Alcoa is closing a noncompetitive plant in Elyria, Ohio, which makes rigid plastic sheet for thermoforming into such consumer products as deli trays, clam shells and cookie trays by the firm's Kama unit. The plant's output will be transferred to other Kama facilities.
- Demand for composites in the world aerospace market is expected to grow by more than 10% in the next five years due to several new aircraft models says a new study by Research and Markets. The key composite materials include epoxy and phenolic resins and carbon, emission fiberglass (e-glass) and aramid reinforcements plus carbon fiber, carbon fabric, carbon fiber fabric, laminates and Kevlar.
- International Iron and Steel Institute reckons that steel consumption will expand by only 3.7% this year after increasing by more than 9% in 2004. Some analysts see China's appetite for steel and iron ore slowing this year, as the government dampens production and demand in an overheated market sector.
- Steel industry analyst Charles Bradford of Bradford Research in New York likes the fact that steelmakers are reducing production of flat-rolled to keep inventories in line with customer needs. Steel prices have been falling from recent highs as the supply of steel increased. "Cutting production out is what a consolidated industry does when there is a softer market," he says, "to balance supply and demand."
- Royal Group Technologies, the building-products maker, says inventories are up while revenues are down and "business conditions will remain difficult for the rest of 2005." So, it's considering a $1 billion takeover offer from Cerberus Capital Management, a New York buyout fund.
- Total commercial spending on telecommunications services exceeded $133 billion in 2004 and is expected to reach $143 billion over the next five years. Total spending includes expenditures on wireline services, including switched and private line services, and wireless voice and data services.
- Maverick Tube has started work on a $12 million project to expand its Precision Tube coiled-tubing facility in Houston by more than 50%. The expansion of tubular products for the energy is scheduled to be completed in the first quarter of 2006.
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