ASIAN NEWS
Japanese fastener imports grow 10% in 2011
According to trade statistics from the Japanese Ministry of Finance, Japan’s total imports of fastener products, including screws, bolts, nuts, washers, nails, and rivets, for 2011 grew 10.9% year on year.
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mport volume totalled 310,300 tonnes compared to 279,800 tonnes in 2010. Import value totalled 81.9 billion yen (793 million euros) , increasing 11.07% compared to the 73.7 billion yen (713 million euros) recorded for 2010. Fastener exports for
the full year 2011 amounted to 323,500 tonnes, declining 1.49 percent compared to the 328,400 tonnes in 2010. Export value totalled 254.4 billion yen (2.46 billion euros), dropping 1.56% compared to 2010.
Original report Fastener World Magazine
New GM car plant inWuhan
Reports from mainland China environmental authorities indicate that Shanghai General Motors plans to invest RMB 7 billion (856 million euros) in car production in Jiangxia, Wuhan.
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reflecting record year on year growth of 49.5 percent. Imports, primarily of higher end brands, grew by 27.8 percent to 1.037 million units in 2011.
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CSC increases raw material self-sufficiency
China Steel Corporation has agreed the purchase of a 2.5 percent indirect interest in Australian iron ore producer RHH.
he transaction will be carried out via CSC’s 100 percent- owned, Australian registered subsidiary - CSC Steel Australia Holdings Pty Ltd. The investment amounting to AUD 305 million (238 million euros) will be funded as
equity into RHH. The Roy Hill Project integrates an open pit iron ore mine with
self-owned rail and port facilities. The mine is located in the Pilbara region of West Australia and will be connected to the port facilities at Port Hedland via a dedicated 342km railway. Roy Hill is expected to commence operations in 2014 and ramp up to its full capacity of 55 million tonnes of iron ore. China Steel’s investment secures supply of 1.38 million tonnes of iron ore annually, increasing its raw material self-sufficiency from 2% to 7.5%. CSC aims to acquire iron ore and coking coal production to achieve 30% raw material self-sufficiency within 5 years.
Gem-Year rail sales hit by crash
Gem-Year reported sales for 2011 were up 10.6% to RMB 2.7 billion (325 million euros). Sales of general fasteners increased 13 percent to RMB 844 million but sales of high-speed rail fasteners more than halved to RMB 640 million, in the aftermath of the Jin-Hu high-speed rail crash in July 2011.
Q Fastener + Fixing Magazine • Issue 75 May 2012
uarter 1 2011 sales surged, with rail fasteners growing 133 percent but by Quarter 4 high speed rail fasteners sales had collapsed by 89 percent. Annual overseas sales grew 17.8 percent to RMB 428 million.
Gem-Year says it aims to achieve 14.7 percent growth in 2012
to a sales total of RMB 3.1 billion. Operating costs are expected to rise by 14.8 percent and profits to increase by 5 percent. Original report by Chinafastener
Lakshmi setting up aerospace unit
he Punjab News reports that Lakshmi Precision Screws Ltd is planning a new 3,000 tonne per year unit to manufacture aerospace and automotive fasteners. The 1 million euro investment will include a research and development centre on a 10 acre site in Rohtak.
.info
hen completed the plant, on a 2.2 square kilometre site, is expected to comprise press, car body, coating and assembly shops capable of producing 300,000 units annually. Additionally a parts distribution
centre is planned at the site. The joint venture between Shanghai Automatic Industry Corporation (SAIC) and General Motors already has production operations in Pudong, Jinqia, Yangtai Dongyue and Shenyang Beisheng. Four car assembly plants and two powertrain facilities produce Buick, Chevrolet and Cadillac models.
Chinese auto sales decelerate in 2011 China automotive growth decelerated in 2011, showing the lowest growth in thirteen years.
ccording to statistics released by the Ministry of Commerce Chinese automotive market growth slowed in 2011. Sales still reached 18.5 million units with a year on year growth of 2.45 percent, which meant China maintained global leadership based on sales volume. Passenger car sales were 14.5 million units, accounting for 78.2% of the total sales. According to the China Association of Automobile Manufacturers, total automotive exports amounted to 814,000 units,
Original report Fastener World Magazine
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