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Shanghai copper futures climbed in mid-April ahead of trade data from China, the world’s largest user of copper.
On 21st April the contract for July delivery on the Shanghai futures exchange rose 0.5 per cent to 46,600 yuan ($7,487) a metric ton. The previous week copper had fallen 0.8 per cent after four weeks of gains.
Reichle & De-Massari (R&M) has acquired the business activities and operating assets of Advanced Fiber Systems (AFS) in India. AFS is a renowned manufacturer of fibre-optic products and solutions for the Public Network market and has been an R&M certified assembly partner for the E-2000TM connector for several years.
AFS was founded in 2002 and has its production facility located in Bangalore. The management and all employees of AFS will transfer to R&M in India.
This acquisition provides R&M with the industrial platform to strengthen its existing structured cabling business in India and addresses new strategic market segments. Laurent Amestoy, executive vice president of R&M Asia-Pacific said: “We are very excited about the benefits and potential of this acquisition.
DP World, UAE Region, the regional marine terminal operator, and Borouge, a provider of innovative, value creating plastics solutions, signed a contract through which DP World will support the distribution of Borouge’s products as one of Borouge’s several gateways to export its products to its customers in the UAE and around the world.
The contract was signed by Abdulaziz Alhajri, CEO of Abu Dhabi Polymers Company (Borouge), and Mohammed Al Muallem, senior vice president and managing director, DP World, UAE Region. The signing took place at Borouge’s headquarters in Abu Dhabi in the presence of senior officials from both companies.
Under the terms of the signed contract, DP World will provide Borouge with value added logistic services at its flagship Jebel Ali Port including the technology-driven handling operations of containers and the wide connectivity the port provides regionally and internationally. Borouge, in turn, will benefit from the availability of the port’s storage facilities, staffing and seamless shipping to its customers globally.
The Macedonian prime minister, Nikola Gruevski has announced that German cable and wire manufacturer, ODW Elektrik is planning a new production facility in Macedonia’s Ohrid-Struga free economic zone.
Macedonia’s government and the company completed negotiations in mid-April. Under the plan, ODW Elektrik will build its first Macedonian plant on a 10,000m2 site. The factory is expected to be operational by the end of 2014, creating up to 1,000 new jobs.
Based in Steinau an der Straße, the manufacturer operates three production facilities in Germany, Ukraine and Hungary, using various plastics, including PA and PTFE.