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MEETINGS
The World ADI Conference will be held on September 25-27, 2002 at the
Galt Hotel in Louisville, Kentucky.
The June 2003 meeting has not been scheduled yet.
There will be a Keith Millis Symposium on October 20-23, 2003 at the
Crowne Plaza Resort in Hilton Head Island, South Carolina.
PEOPLE
Dublin, Ohio (USA) - Ashland
Specialty Chemical Company has announced that Michael J. Shannon
has been named senior vice president. James A. Duquin, president
of Ashland Specialty Chemical Company, made the announcement.
Dublin, Ohio (USA) - Ashland
Specialty Chemical Company has announced that Marcello Boldrini
has been named to the newly created position of vice president of
marketing and business development. James A. Duquin, president of
Ashland Specialty Chemical Company, made the announcement.
Dublin, Ohio (USA) - Ashland
Specialty Chemical Company has announced that Carl Scaccia
has been named vice president of Commercial Development. James A.
Duquin, president of Ashland Specialty Chemical Company, made the
announcement.
BUSINESS
Grede Foundries, Inc. Earns ISO 14001 Registration
at All U.S. Locations
Leading Independent Foundry Company
Demonstrates Commitment to Environmental Standards
Milwaukee, Wisconsin -
Grede Foundries, Inc. of Milwaukee, Wisconsin, recently completed ISO 14001 registration for environmental standards at all of its nine U.S. foundry locations. Each facility went through a rigorous registration process that includes review of the location's Environmental Policy and Environmental Management System by an independent registrar. Grede Foundries operates plants in the following U.S. locations: Wauwatosa, Milwaukee, and Reedsburg, Wisconsin; Kingsford and Vassar, Michigan; Wichita, Kansas; Greenwood, South Carolina; New Castle, Indiana; and St. Cloud, Minnesota.
"In the areas of pollution prevention and environmental performance, our goal is to meet or exceed regulatory requirements and lead the industry," said Jim White, director, Safety, Health, and Environment, Grede Foundries. "Undertaking the ISO 14001 process across the country demonstrates Grede's commitment to environmental standards and to being good neighbors in the communities where we operate. "
ISO 14001 is an international standard that defines the basic requirements of an
Environmental Management System, including an Environmental Policy, setting environmental objectives, operational controls, management review, corrective action procedures, and continuous improvement.
Grede Foundries is an industry leader in developing ways to beneficially reuse foundry byproducts, which avoids landfill disposal and conserves natural resources. The Company's byproducts are actively being used as construction fill and in materials such as asphalt and concrete.
Based in Milwaukee, Wisconsin, Grede Foundries specializes in ferrous metals: gray iron, ductile iron, and steel castings. The Company also has operations in the U.K and Mexico. Grede Foundries supplies castings to the automotive, air conditioning, construction, farm, and mechanical power equipment markets, as well as other industries. For more information, visit its Web site at
www.grede.com.
Dublin, Ohio (USA) - Ashland-Avebene
S.A., an affiliate of Ashland Specialty Chemical Company, a division of
Ashland Inc., recently purchased the foundry business of Furtenbach
S.A., a French subsidiary of the Austrian-based Furtenbach Group.
Terms of the agreement, which closed May 27, 2002, were not
disclosed. The newly acquired business will operate within Ashland
Specialty Chemical Company's Foundry Products Division.
Foseco and Corning celebrate 20 years of their North America partnership in iron filtration technology… with more to come.
CLEVELAND, OH and CORNING, NY: August 26,
2002--Corning and Foseco, pioneers in the introduction of iron filtration in North America, announce the 20-year anniversary of the partnership that launched this technology.
In conjunction with this milestone, Foseco and Corning also announce that a multi-year agreement has been reached naming Foseco as the exclusive North American distributor of Corning extruded molten metal filters marketed under the Celtex® trademark. Since 1982, Foseco and Corning have collaborated to bring the benefits of filtration to production of a continuously growing range of iron castings.
"I have been privileged to be involved in this partnership from day one," said Hugh Kind, Foseco's Vice President of Marketing. " The advent of filtration gave the industry new tools to manufacture higher-quality castings at lower cost. The combination of Foseco's direct support to customers and Corning's manufacturing and ceramics research and development have enabled our customers to obtain these benefits. Our shared commitment to technology and production investment has moved filtration strategy from problem solving to standard practice. Corning's extruded cellular filters are the most widely applied filters in North American iron foundries. Corning and Foseco will continue to refine product and application technologies to further expand their use and the value delivered to our customers."
Steven P. Suttle, Vice President and General Manager, Corning Environmental Technologies, said, "We are extremely pleased that we can continue delivering a full range of premium-quality, high-performance filters to customers in co-operation with our long-time North American distribution partner,
Foseco."
Foseco Metallurgical Inc. of Cleveland Ohio is a member of the worldwide group of Foseco companies that has provided innovative solutions to foundries for the past 70 years.
Established in 1851, Corning Incorporated
(www.corning.com) creates leading-edge technologies for the fastest-growing markets of the world's economy. Corning manufactures optical fiber, cable and photonic products for the telecommunications industry; and high-performance displays and components for television, information technology and other communications-related industries. The company also uses advanced materials to manufacture products for scientific, semiconductor and environmental markets.
® CELTEX is a trade mark of the Foseco Group of Companies.
Troy, Michigan, June 24,
2002 - INTERMET Corporation today said that the casting industry is
experiencing a surge in secondary aluminum and scrap steel prices.
The recently implemented
U.S. steel tariffs have effectively reduced supply at a time when steel
consumption is on the rise. As a result, during the second
quarter, INTERMET has incurred a 20-percent price increase for scrap
steel when compared to the first quarter of this year. Steel scrap
is a primary melt component used in casting ductile-iron automotive
components. The company now expects to absorb approximately $1.5
million in scrap price increases in the second quarter before surcharge
pass-through contracts take effect in the third quarter. Material
pass-through contracts typically have a 60-90 day lag before becoming
effective.
This year, secondary
aluminum prices posted the steepest increase in a number of years before
recently moderating to some extent. INTERMET uses secondary
aluminum in casting aluminum automotive components. The company
anticipates approximately $1.2 million in aluminum secondary material
increases for the second quarter compared to the first quarter of this
year.
"There may be some
relief in sight," said Mike Becker, INTERMET's Corporate Director
of Purchasing. "Scrap steel is looking a little better in
June, but very recently, it has been quite a scramble to keep up with
the increases."
In a press release on
June 13, 2002, announcing a successful $175 million bond issue to repay
outstanding term-loan indebtedness and for working-capital, INTERMET
reported the expensing in the second quarter of the $927,000 unamortized
fees associated with the termination of the current bank term
loan. The cumulative effect of the raw-material price increases
and the expensing of early termination costs for the term loan, is
expected to reduce INTERMET's earnings for the second quarter by about 7
cents as compared to analysts' consensus.
John Doddridge, Chairman
and CEO, said, "INTERMET's second-quarter core operating
performance looks strong. Revenue should approximate $218 million,
in line with our expectations, and our efforts to improve manufacturing
efficiencies and lower breakeven points continue to meet our
targets."
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