More News from CI CyberNews, 10/24/2005
Alcoa recently announced that its income from continuing operations was $290 million, or $0.33 per diluted share, in the third quarter 2005, which is above prior guidance and flat with the $292 million or $0.33 a year ago, and down from $466 million or $0.53 in the second quarter 2005. Results in the quarter were impacted by lower aluminum prices and higher input costs, particularly for energy. Seasonal weakness in Europe and automotive markets also lowered profitability. On a year-to-date basis, energy and other costs, primarily raw materials, have increased $578 million. Net income in the quarter was $289 million, or $0.33, down from $460 million, or $0.52, in the previous quarter, and up from $283 million, or $0.32, in the third quarter of 2004. After-tax operating income for the alumina segment was $156 million. Stronger shipments were offset by lower LME based pricing. Energy cost increases of $6 million and caustic soda increases of $9 million negatively affected the results. Alumina production for the quarter was 3688 thousand metric tons (kmt), compared to 3,621 kmt in the second quarter of 2005.
Additional details are available at http://www.alcoa.com.
ERIEZ BREAKS GROUND FOR NEW CHINA PLANT
Eriez recently broke ground on a new manufacturing facility situated on five acres of land in Qinhuangdao, Hebei Province, about 200 miles north of Beijing, China. This will be Eriez's second plant in China (the first was opened in Shanghai in January 2003). The new facility will manufacture all Eriez products, focusing on suspended magnets, wet drum separators and sampling systems. The first phase of construction will include a workshop of approximately 30,000 square feet, an office of 12,000 square feet and a cafeteria of 5000 square feet. When the third and last phase of the project is complete, the total workshop space will be approximately 90,000 square feet. Eriez, which plans to hire approximately 50 people during the first two years, anticipates that the new facility will be fully operational by the first half of 2006.
LIBBEY NAMED BEST IN CLASS FOR TABLETOP SUPPLIERS BY FE&S
In its annual survey, "Foodservice Equipment & Supplies" magazine (FE&S) has named Libbey Inc. Best in Class for tabletop suppliers. FE&S's Best in Class survey included responses from 425 dealers and 325 broadliners to determine who they perceive to be the best manufacturer for key foodservice categories. As reported in its October 2005 edition, FE&S's fifth annual Best in Class survey shines the industry spotlight on those manufacturers that were named by subscribing dealers and broadliners as the ones that help them best meet customer needs. Libbey, which has been named Best in Class in all five surveys conducted by FE&S magazine, was named number one in both the glassware category and the dinnerware/chinaware category this year.
The company's website is located at http://www.libbey.com.
SWECO INTEGRATED SCREEN PRESSES HELP IMPROVE KODAK'S FILM RECYCLING
By installing Sweco Integrated Screen Presses (ISP) on existing Sweco round screeners, Kodak has significantly improved processing efficiency and silver recovery in the recycling of film chips at its Rochester, N.Y., facility. To increase drying efficiency, Kodak installed two Sweco ISPs on the solids discharge of the two screeners. These augur de-watering devices remove free moisture from the chips and rinses them in a final cleaning step. The liquid discharged from the ISPs is recycled back into Kodak's processing system and the solids are put into containers for shipment to a recovery source. The integration of the ISPs into the recycling process produces a much cleaner, dryer film scrap that weighs considerably less than what had been output directly from the 60-in. screeners. This improvement reduces handling costs to Kodak's silver recovery processor, and the ISPs are able to recover 20-30% more of the silver-bearing liquid.