Sandvik Materials Technology to lay off 210 white-collar employees (US)

Swedish equipment and tool manufacturer Sandvik Mining (STO:SAND) is letting go 210 white-collar employees at its Materials Technology unit (SMT), located in Sandviken, about 190 km north of Stockholm. The decision comes as tougher competition from Asian suppliers, pressure on prices and a sustained weakness in the oil an gas sector haveContinue reading

HCL and Midhani to produce copper-nickel tubes (US)

Hindustan Copper Ltd (HCL) is looking to get into the production of value-added products to shield itself from volatility in copper prices. Copper prices have firmed up in the international markets and are currently ruling at  $6,500 a tonne.

“There is a huge demand for copper-nickel tubes used in naval fighter ships, submarines, etc. These are currently being imported. There is a huge potential,”

Kailash Dhar Diwan – HCL  CEO

The average price of copper in the same period last year was $5,200 a tonne. According to Kailash Dhar Diwan, Chairman and Managing Director, HCL, the company plans to get into a joint venture agreement with Mishra Dhatu Nigam Limited (MIDHANI), a central public sector enterprise under the Ministry of Defence, for production of copper-nickel tubes. It has already signed an MoU with MIDHANI. “There is a huge demand for copper-nickel tubesContinue reading

Taiwan’s GMTC partners with Thermal Technology LLC to develop metal 3D printing powders (US)

Gloria Material Technology Corp. (GMTC), a Taiwan-based specialty alloys manufacturer, and Thermal Technology LLC, a California-based sintering system manufacturer, will be collaborating to develop metal powders for 3D printing. The two companies recently signed a Memorandum of Understanding (MoU) to establish the partnership. The signing of the MoU was a big event, as representatives from the U.S. Bureau of Economic Affairs and Taiwan’s Ministry of Economy were present as witnesses to the signing. By working together to developContinue reading