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Tin in the News (02Mac10) |
Cookson reports H2 revival in sales and margins (02 Mac 10)
Cookson Group, the world’s largest solder producer, reported much improved results for H2 2009. Although the 2009 sales of solders fell by 22% after adjusting for changes in raw material prices and exchange rates, the drop was due to a 33% year-on-year decline in the first half. Second half sales were 19% higher than in the first half. Sales of the higher margin solder paste were unchanged whereas volumes for the more commoditised products such as bar solder were down 30%. This trend reflected the continuing shift from wave soldering to surface mount technology for the production of PCBs.
Since late March 2009, electronic materials end-markets had progressively improved as customer de-stocking came to an end and end-markets recovered.
Indian and US partners acquire Chemtura’s PVC additives business (02 Mac 10)
Artek Surfin Chemicals, one of India’s leading specialty chemicals companies, and US private equity firm Aterian Investment Partners have agreed to jointly purchase the PVC business of Chemtura Corporation which generated a revenue of $374 million in 2008. Chemtura Corporation is a leading global producer of additives for numerous PVC and other polymer applications, many of which are tin-based. The production facilities are in Taft, Louisiana, USA and Lampetheim, Germany. No bids in Korean tender (01 Mac 10) South Korea has reissued a tender to buy 200 tonnes of tin ingot, after passing on an earlier auction which closed on Friday due to a lack of bidders. The agency is seeking metal with more than 99.9% purity, excluding Russian , shipping by May 31 to the port of Busan. The state-run Public Procurement Service’ refined tin purchases in 2010 are budgeted at 1,910 tonnes.
(Source: ITRI 02 March 2010)
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