Posts tagged: financial

Sidera Decreases Latency on Xtreme Ultra-Low Latency Network

By admin, July 20, 2012 6:07 pm

Sidera Networks?(News – Alert) has unveiled an enhanced Xtreme Ultra-Low Latency Network, thereby considerably decreasing the latency between important financial data centers and exchanges in the New York/New Jersey Metro area. Sidera’s position as one of the major providers of low latency to financial services firms has been ensured with the latest latency reductions. This achievement has also been confirmed by its network which carries trillions of dollars in trades every day.

In a release, Clint Heiden?(News – Alert), president, Sidera Networks said, “Since the development and launch of the Xtreme Ultra-Low Latency Network in 2010, Sidera Networks has proudly served the low latency requirements of financial services market. We have committed to customers that we will maintain our low latency edge so that they can meet their application requirements, including electronic trading. When completed, this upgrade will deliver on that commitment. Additionally, low latency connectivity to NYSE’s Mahwah, NJ data center is critical to our customers. We will provide a unique, low latency connection to that facility.”

Financial service organizations and customers, who have high bandwidth requirements, heavily stress on diversity, low latency, and performance. These customers will be provided planned benefits by Sidera’s Xtreme Ultra-Low Latency Network. Sidera’s network covers seven Manhattan river crossings and also boasts of an exceptional conduit system. Sidera’s Transcom Route helps in offering an exclusive and different route from NY to DC. Sidera also offers the lowest latency routes from NY/NJ to Chicago, Toronto, and London. Dark fiber, wavelengths and Ethernet also comprise the offerings from Sidera.

Larry Tabb, Founder and CEO, Tabb Group said, “Network connectivity is key to any company’s ability to transact and access information. The New York/New Jersey market is an important region for the financial services market. There are exchanges; market data hubs and other key data housed in these data centers throughout the region. Backup Files: BKFAcrobat Files: PDFHow To:How to recover files from hard drive volumes that were formatted in order to remove viruses and other malware:How to know if a normal or advanced scan is needed:How to recover only selected file types:How to recover and restore hard drive recovery service from an accidently deleted volume:How to recover deleted files within a specific time range: Don’t worry, you can still place an order.. Network redundancy, reliability and accessibility to these information hubs are key concerns for companies as they architect their networks for more efficient communications.”

Carrier and enterprise consumers are offered customized, high capacity communications services by Sidera Networks. A wide-ranging portfolio of facilities-based offerings like Ethernet, Wavelength, Dark Fiber, Internet Access, Colocation and SONET among others is delivered by Sidera. ?

Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO West 2012, taking place Oct. 2-5, in Austin, TX. ITEXPO?(News – Alert) offers an educational program to help corporate decision makers select the right IP-based voice, video, fax and unified communications solutions to improve their operations. It’s also where service providers learn how to profitably roll out the services their subscribers are clamoring for – and where resellers can learn about new growth opportunities. For more information on registering for ITEXPO click here.

Stay in touch with everything happening at ITEXPO. Follow us on Twitter.

Edited by Juliana Kenny

Sea Fiber Networks Partners With euNetworks

By admin, July 17, 2012 10:11 am

CeltixConnect?from Sea Fiber links into its own exchange at Halmer End called the Staffordshire Gateway?(News – Alert), making use of the Welsh Government’s open access network?Fibrespeed. This highly strategic gateway allows dark fiber connections northwards to Manchester, directly southwards to London or onwards to Europe over various third party dark fiber providers through SFN’s Partner Network Program.?

Recently, Sea Fiber Networks announced a new fiber contract with euNetworks, one of Europe’s bandwidth infrastructure providers. Connected with a high capacity intercity backbone, euNetworks owns and operates 13 fiber based metropolitan networks across Europe, the company stated in a press release.

euNetworks’ customers have been provided with a low latency solution that connects Ireland to the United Kingdom on a wholly diverse route to existing, older sub-sea systems from the end of June. At 136 kilometers, CeltixConnect is the shortest sub-sea network linking Ireland and the United Kingdom and offers the important infrastructure as a foundation for low latency bandwidth solutions. Allowing the transport of data from Ireland across to Europe, the new fiber network is a completely diverse route.

David Selby, VP of Product and Strategy of euNetworks stated, “This diverse link between the United Kingdom and Ireland serves euNetworks’ customers in the financial services, carrier and media segments who depend on highly reliable, scalable and low latency connectivity services. These customers depend on euNetworks for a state-of-the-art network infrastructure like CeltixConnect that supports their future ambitions.”

Recently, TMC?(News – Alert) reported that the company provided a 100 Gigabit (G) capable network to market by upgrading its European long haul transport platform. casino .?The upgraded platform, combined with a dual gateway strategy and unique mesh based fiber city networks, offers unique proposition to the market.

Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO West 2012, taking place Oct. 2-5, in Austin, TX. ITEXPO?(News – Alert) offers an educational program to help corporate decision makers select the right IP-based voice, video, fax and unified communications solutions to improve their operations. It’s also where service providers learn how to profitably roll out the services their subscribers are clamoring for – and where resellers can learn about new growth opportunities. For more information on registering for ITEXPO click here.

Stay in touch with everything happening at ITEXPO. Follow us on Twitter.

Edited by Brooke Neuman

Hudson Fiber Network Partners with Cross River Fiber to Connect Remote Financial Locations

By admin, June 22, 2012 11:10 am

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Integra Telecom’s On-Net Locations Grows to More than 2,000

By admin, June 18, 2012 11:46 am

Integra Telecom?(News – Alert) Inc., a provider of fiber-based, business-grade networking, communications and cloud solutions, has added 115 new customer builds since January, which makes its total number of fiber-based on-network locations to 2,013. This milestone highlights Integra’s year over year investment in its vast fiber expansion and commitment to deliver reliable, high-bandwidth data transport and innovative new services to enterprise and wholesale customers.

“Today’s enterprise customer requires reliable and scalable high-bandwidth connectivity to move more and more data — even their business-critical applications — to a cloud-based infrastructure,” said Joe Harding, senior vice president of marketing. Most of these are advertisements for colon urine drug test products being sold.. “To meet this demand, Integra continues to strengthen our fiber network, expanding our market reach and bringing highly scalable, managed connections to new and existing customers.”

According to a press release, the growing number of on-net locations and fiber density indicates Integra’s commitment in delivering bandwidth-intensive networking and cloud solutions to its customer base spread over the company’s key markets. The growth in its fiber footprint also supports Integra’s integrated IT solutions and product offerings, including Wavelength Services, the continued expansion of its Ethernet services portfolio, as well as collaboration and messaging services.

“Integra’s strategic fiber builds enable transport to our key targets — data centers, carrier hotels and wireless service centers — throughout our footprint,” said Dan Stoll, vice president, business development. “These central locations provide the big-data pipes and infrastructure that allow us to deliver highly capable and cost-efficient communications and data services to wholesale and enterprise business customers across our largest markets. online casinos .”

?The combination of Integra’s dense metro and long-haul fiber footprint and its on-net locations, allows the company to provide point-to-point connectivity of up to 10Gbps to more customers than ever before. Integra’s robust fiber network enables secure, high-bandwidth applications for business segments such as Healthcare, Public Sector, Financial, Technology and Profession Services.

Edited by Brooke Neuman

Aframe Selects zColo as Colocation Provider

By admin, June 6, 2012 3:36 pm

A modern colocation data center offers power Internet, transport and other networking equipment a company uses to collect and distribute data, voice, Internet and video traffic. They also offer flexible space options, redundant power and cooling systems, physical security, and?fire suppression?to keep the mission critical equipment of a company up and running.

zColo, a Zayo Group?(News – Alert) Company, provides colocation services with the above mentioned features. Recently, the company’s carrier-neutral interconnection and colocation services were selected by Aframe, a cloud video production platform.

With facilities like space and power at 60 Hudson St. in New York and 707 Wilshire Blvd. online casino . in Los Angeles, zColo will now be the sole colocation provider for Aframe in the United States. With the help of this solution, U. online casino .S. customers can now expect to get enhanced access speeds to Aframe’s cloud storage and video production services, the company stated in a press release.

“By locating in our highly connected facilities, Aframe will have access to a multitude of carrier and cloud based networks via zColo’s direct interconnection ecosystem in the metro NY and LA markets as well as extending connectivity across the U.S. via Zayo’s dense national fiber assets,” states, Steve Finnerty, vice president of sales at zColo. “As post production has become digital and evolves to cloud-based solutions, we believe our highly connected colocation facilities offer a great solution for service providers like Aframe. casino online .”

Recently, TMC?(News – Alert) reported that the company confirmed that its 165 Halsey, Newark, NJ facility has been selected by Hibernia Atlantic?(News – Alert)?to offer them with a customized suite of colocation and interconnection services. nbso . Hibernia Atlantic is a provider of Ethernet, DTM and optical- level service up to GigE, 10G and LanPhy wavelengths and traditional SONET/SDH services. The modern network from Hibernia Atlantic helps users within the financial and media sectors with a comprehensive range of network services.

Edited by Brooke Neuman

Amdocs Wins Major Contract from Brazilian Carrier

By admin, March 29, 2012 10:10 am

US customer experience systems provider Amdocs (News – Alert) has landed a deal with TIM Brasil, the second largest mobile service provider in Brazil, to provide business and operational support systems for the carrier’s new fiber residential broadband program.

Chesterfield, MO-based Amdocs has not disclosed the financial details of the deal.

Amdocs says its business support systems (BSS) and operational support systems (OSS) will speed up the process of launching the service.

TIM’s broadband expansion program comes a year after it acquired AES Atimus, which operated a 5,000-kilometer fiber-optic network in Sao Paulo, Rio de Janeiro and other major Brazilian cities.

Amdocs will also provide consulting service to enable TIM Brasil to quickly integrate the Atimus’ network and begin rolling out the broadband services at the earliest.

“Following our acquisition of Atimus’ fiber-optic network last year, we knew that we needed to move quickly to consolidate their network into TIM and rapidly offer the broadband services our customers are demanding,” said Luigi Longarini, chief information officer of TIM Brasil.

Amdocs will serve as systems integrator for its own solutions and those of up to 30 other vendors, providing program management, systems integration testing and user training. casino online .

“Amdocs solutions will enable dynamic pricing bundles, rapid service creation and activation, and responsive customer service, while also helping TIM achieve greater operational efficiencies,” said Rebecca Prudhomme, Amdocs vice president for Product and Solutions Marketing.

Amdocs offers billing and customer relationship management software and managed services to the telecommunications industry. With revenue of approximately $3.2 billion in fiscal 2011, Amdocs has operation in more than 60 countries.

A recent survey commissioned by Amdocs shows how contact centers in most enterprises are turning out to be critical components of business —not just as a means to solve problems and reduce churn, but as valuable information resources to be strategically integrated with sales, marketing, business process automation and a variety of internal workflow issues.

Edited by Jennifer Russell

Coleman Cable, Inc. Announces Fourth-Quarter and Full-Year 2011 Financial Results

By admin, March 14, 2012 1:45 pm

Wednesday, Mar 14, 2012

WAUKEGAN, Ill., March 12, 2012 (GLOBE NEWSWIRE) — Coleman Cable, Inc. (Nasdaq:CCIX) (the “Company,” “Coleman,” “we,” “us,” or “our”), a leading manufacturer and innovator of electrical and electronic wire and cable products, announced fourth-quarter and full–year 2011 financial results.

Full-Year 2011 Highlights

  • Earnings Per Share (EPS) of $0.99 per diluted share versus $0.21 for 2010;
  • Adjusted Earnings Per Share (Adjusted EPS) of $1.20 per diluted share, up 73.9 percent versus $0.69 for 2010;
  • Sales increased to $867.4 million, up 23.2 percent compared to 2010.

Fourth-Quarter 2011 Highlights

  • EPS of $0.08 per diluted share for the fourth quarters of 2011 and 2010;
  • Adjusted EPS of $0.07 per diluted share versus $0.12 for the fourth quarter of last year;
  • Sales increased to $206.9 million, up 11.1 percent compared to the fourth quarter of last year.


  • For the first quarter of 2012, the Company estimates sales between $210.0 million and $220.0 million and Adjusted EPS between $0.14 and $0.27.

Fourth-Quarter and Full-Year 2011 Results

Net sales increased 11.1 percent for the fourth quarter of 2011 to $206.9 million versus $186.2 million for the fourth quarter of 2010 driven in part by a 7.6 percent increase in sales volume (measured in total pounds shipped, excluding the Company’s Other segment). Fourth-quarter 2011 Adjusted EPS and Adjusted EBITDA were $0.07 per diluted share and $14.1 million, respectively, compared to $0.12 per diluted share and $14.9 million, respectively, for the fourth quarter of 2010.

Net sales for the year ended December 31, 2011 increased 23.2 percent to $867.4 million versus $703.8 million for the full year of 2010 driven in part by a 5.5 percent increase in sales volume. Full-year 2011 Adjusted EPS and Adjusted EBITDA were $1.20 per diluted share and $78.6 million, respectively, compared to $0.69 per diluted share and $64.0 million, respectively, for 2010.

President and CEO Gary Yetman stated, “We produced strong results for the full year of 2011, including Adjusted EPS growth of nearly 74 percent, driven by sales growth of over 23 percent. In fact, the $78.6 million in Adjusted EBITDA we recorded for 2011 was the highest in the Company’s history.  These strong results were achieved despite the fact that we experienced significant copper price volatility throughout much of 2011, including a sharp decline in copper prices during the fourth quarter, which was a significant factor in our lower sequential quarter profitability. Though volumes remained strong during the fourth quarter and we saw a healthy year-over-year increase in demand, the sharp decline in copper prices in the fourth quarter caused a contraction in the spread between the cost of our products and the prices we were able to charge in the marketplace. Despite the challenges posed by copper volatility and, in particular, its unfavorable impact on our fourth-quarter results, we are very pleased with our overall results for 2011.”

Mr. Yetman concluded, “Looking to 2012, our business should continue to benefit from our expanded product line brought about both by our 2011 acquisitions and the new products we have internally developed and brought to the market over the past two years. We have continued to experience strong demand across our business into early 2012. Commodity prices and their impact on our business, however, remain a concern as further significant fluctuations in copper prices, or in other raw material inputs such as petroleum-based compounds and transportation costs, could impact our profitability. Though these concerns have been reflected in our first-quarter 2012 outlook, we continue to believe the strength and diversification of our customer base and robust product portfolio have us well-positioned heading into 2012.”

On a GAAP basis, the Company recorded earnings of $0.08 per diluted share for the fourth quarter of 2011 compared to $0.08 per diluted share last year. Fourth-quarter 2011 results included $1.3 million in proceeds ($0.8 million after tax, or $0.04 per diluted share) for the settlement of an insurance related matter pertaining to an inventory theft that occurred in 2005 at a since closed facility. Additionally, fourth-quarter results for the 2011 and 2010 periods included restructuring charges and share-based compensation expense. All of these items are excluded from the Company’s Adjusted EBITDA and Adjusted EPS results. Please see the discussion of Non-GAAP results below and the attached schedules for a full reconciliation of GAAP results to non-GAAP results.


Coleman Cable has scheduled its conference call for Tuesday, March 13, 2012, at 10:00 a.m. Central time. Hosting the call will be Gary Yetman, president and CEO, and Richard Burger, executive vice president and CFO. A live broadcast of the Company’s conference call, along with accompanying visuals, will be available on-line through the Company’s Web site at The webcast will be archived for 90 days.

Non-GAAP Results

In addition to net income determined in accordance with GAAP, we use certain non-GAAP measures in assessing our operating performance. These non-GAAP measures used by management include: (1) EBITDA, which we define as net income before interest, income taxes, depreciation and amortization expense (”EBITDA”), (2) Adjusted EBITDA, which is our measure of EBITDA adjusted to exclude the impact of certain specifically identified items (”Adjusted EBITDA”), and (3) Adjusted earnings per share, which we calculate as diluted earnings per share adjusted to exclude the estimated per share impact of the same specifically identified items used to calculate Adjusted EBITDA (”Adjusted EPS”). For the periods presented in this report, the specifically identified items include asset impairments, restructuring charges, the gain on available for sale securities recorded in the second quarter of 2011 relative to our investment in TRC at the date of acquisition, acquisition-related costs, the favorable impact of an insurance settlement received in 2011 for a 2005 inventory-related theft, the loss recorded in connection with the extinguishment of our 2012 Senior Notes in 2010, and share-based compensation expense.

We believe both EBITDA and Adjusted EBITDA serve as appropriate measures to be used in evaluating the performance of our business. We use these measures in the preparation of our annual operating budgets and in determining levels of operating and capital investments. We believe both EBITDA and Adjusted EBITDA allow us to readily view operating trends, perform analytical comparisons and identify strategies to improve operating performance. The usefulness of both EBITDA and Adjusted EBITDA as performance measures are limited by the fact that they both exclude the impact of interest expense, depreciation and amortization expense, and taxes. Due to these limitations, we do not, and you should not, use either EBITDA or Adjusted EBITDA as the only measures of our performance. We also use, and recommend that you consider, net income in accordance with GAAP as a measure of our performance. Finally, other companies may define EBITDA and Adjusted EBITDA differently and, as a result, our measure of EBITDA and Adjusted EBITDA may not be directly comparable to EBITDA and Adjusted EBITDA measures of other companies.

Similarly, we believe our use of Adjusted EPS provides an appropriate measure to use in assessing our performance across periods given that this measure provides an adjustment for certain significant items, the magnitude of which may vary significantly from period to period. However, we do not, and do not recommend that you solely use Adjusted EPS to assess our financial and earnings performance. We also use, and recommend that you use, diluted earnings per share in addition to Adjusted EPS in assessing our earnings performance. Finally, other companies may define Adjusted EPS differently and, as a result, our measure of Adjusted EPS may not be directly comparable to Adjusted EPS measures of other companies. casino .

About Coleman Cable, Inc.

Coleman Cable, Inc. is a leading manufacturer and innovator of electrical and electronic wire and cable products for the security, sound, telecommunications, electrical, commercial, industrial, and automotive industries. With extensive design and production capabilities and a long-standing dedication to customer service, Coleman Cable, Inc. is the preferred choice of cable and wire users throughout North America. For more information, visit

The Coleman Cable, Inc. logo is available at

Various statements included in this release, including those that express a belief, expectation or intention, as well as those that are not statements of historical fact constitute forward-looking statements. These statements include those made under “Outlook” and may be identified by the use of forward-looking terminology such as “believes,” “plans,” “anticipates,” “expects,” “estimates,” “continues,” “could,” “may,” “might,” “potential,” “predict,” “should,” or the negative thereof or other variations thereon or comparable terminology. In particular, statements about Coleman Cable’s expectations, beliefs, plans, objectives, assumptions or future events, financial results, earnings guidance or financial performance contained in this release are forward-looking statements. Coleman Cable has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While Coleman Cable believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond our control. These and other important factors, including those discussed in Coleman Cable’s most recent Annual Report on Form 10-K (available at, may cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Some of the key factors that could cause actual results to differ from Coleman Cable’s expectations include:

  • fluctuations in the supply or price of copper and other raw materials;
  • increased competition from other wire and cable manufacturers, including foreign manufacturers;
  • pricing pressures causing margins to decrease;
  • our dependence on indebtedness and our ability to satisfy our debt obligations;
  • failure to identify, finance or integrate acquisitions;
  • product liability claims and litigation resulting from the design or manufacture of our products;
  • advancements in wireless technology;
  • impairment charges related to our goodwill and long-lived assets;
  • restructuring charges;
  • changes in the cost of labor or raw materials, including copper, PVC and fuel;
  • disruption in the importation of raw materials and products from foreign-based suppliers;
  • our ability to maintain substantial levels of inventory;
  • increase in exposure to political and economic development, crises, instability, terrorism, civil strife, expropriation, and other risks of doing business in foreign markets;
  • changes in tax legislation relating to our Honduras subsidiary; and
  • other risks and uncertainties, including those described under “Item 1A. Risk Factors.” in Coleman Cable’s most recent Annual Report on Form 10-K.

In addition, any forward-looking statements represent Coleman’s views only as of today and should not be relied upon as representing its views as of any subsequent date. While Coleman may elect to update forward-looking statements at some point in the future, it specifically disclaims any obligation to do so, even if its estimates change and, therefore, you should not rely on these forward-looking statements as representing Coleman’s views as of any date subsequent to today.

Source: Globe Newswire

Lapp Group shows strong growth

By admin, March 2, 2012 7:34 am

Friday, Mar 02, 2012

The Stuttgart-based Lapp Group reported a very positive growth in turnover in the financial year 2010/2011 (1. October to 30. September). The leading supplier of integrated solutions and branded products for cabling and connection technology has thereby further consolidated and strategically expanded its worldwide market position. The consolidated turnover rose by 34% to around €847 million (previous year €633 million). “This has been a very successful financial year for the Lapp Group. We have been able to close the gap with the record turnovers of the years before the crisis”, reports Andreas Lapp, chairman of the board of Lapp Holding AG.

Contributing to this growth above all has been the strong upturn in the world economy, the significant positioning of the Lapp Group in its core markets such as mechanical- and systems engineering and the presence of the Lapp Group in the Asian growth markets.

The real turnover growth was 27%. 7 percent of this can be attributed to the sharp rises in copper prices. online casino nbso . The number of employees increased from 2,800 to 3,000 worldwide. Pre-tax profits rose from €45.7 million to €68.2 million.

Positive development in the regions                                  

The Lapp Group is divided into three regions: Europe, Asia and America. Please note: Europe, for Lapp, not only includes geographical Europe but also covers South America, Africa and the United Arab Emirates. North America includes the USA, Canada and Mexico while Asia covers Australia and New Zealand.

With 73% of the group turnover, Europe continues to be the core market for the Lapp Group. The percentage growth was approximately 30%. In total the group achieved €620 million in this region (previous year €480 million). The strongest single market was Germany, which achieved a turnover of €308 million, thereby representing around 36% of the total turnover. This corresponds to a 33% rise. In Germany alone the Lapp Group employed more than 1,000 people, 80 more than in the previous year.

The second most important sales region with 18% of total turnover is Asia. Here, the Lapp Group profited from the enormous economic growth of the Asian countries and the improved positioning of the company in these markets. The turnover was €153 million which corresponds to a rise of 61%.

The turnover in North America has been equally positive but less dynamic. In this region (USA, Canada, Mexico), turnover was €73 million (previous year €58 million). This is an increase of 27% percent.

Improved earnings and financial situation

Contributing factors to the €68.2 million pre-tax profit (previous year €45.7 million) have been growth in turnover along with Lapp Group’s efficient cost structure. Increased order volumes saw the Lapp Group increasing production capacities and number of employees throughout the financial year 2010/2011. Nevertheless, thanks to some structural adjustments, personnel and material costs in relation to the turnover were reduced from 36 to 31%. The absolute height of these costs rose from €227 million to €262 million. The significant fluctuation in the copper price throughout the financial year also had a major effect on turnover. In the annual average the DEL quotation (abbreviation for German electrolyte copper quotation for conductors/exchange-traded price of copper) was 667 Euro per 100 kilograms, around 25% higher than in the previous financial year. The equity ratio of the family company was 50% (previous year 48%). Net banking debts were fully discharged and as in the previous year, the company has notable bank deposits. “The Lapp Group is a company in good shape. Our equity ratio of around 50% is significantly higher than the average ratio of around 30% of the DAX-30 listed companies”, says Dr Uwe Schwellbach, responsible for finance and controlling.

The Lapp Group in figures



GJ 2009/2010

GJ 2010/2011


Total turnover in million euros



            + 34%

Pre-tax profits in million euros



            + 49%

Employees worldwide



              + 200

Equity ratio in %



+ 2%

Increase in investments

The Stuttgart-based Lapp Group is on course for further growth. The company’s investments of €21 million in the last financial year are nearly double those of the previous year (€12 million). “We want to make sure we can meet the increased demand and further strengthen our innovative capacity” explains Andreas Lapp. The focus of the investment has been in the area of production facilities.Investments in financial year 2010/11:

-          At the Diessenhofen site in Switzerland, the production capacities in injection moulding technology have been doubled for around €5 million. The new extension was opened in early 2011.

-          In Indonesia in the early summer of 2011 the new joint venture company, JJ-Lapp Cable SMI, began production. The previous activities of JJ-Lapp Cable Indonesia and PT Sinarmonas have been combined in the new company. The location is the production site of PT Sinarmonas. JJ-Lapp Kabel has a 70% share in Sinarmonas.

-          Investment has also been made into existing production facilities. Contact GmbH for instance gained a new machining centre while a highly dynamic drag chain system was commissioned in the Stuttgart test centre along with a modern stranding machine in the Stuttgart cable factory. Capacity was also expanded in the Lapp Cable factory in the USA.

Investments in financial year 2011/12:

-          The new company Coelco-Lapp Romania was founded a few weeks ago in Rumania. The company had previously been a long time sales partner.

-          In early summer of 2012 a new 30,000 square metre, ultra-modern logistics and service centre with 30 HGV loading ramps was opened in Ludwigsburg, Germany. The total investment amounts to around € 36 million.

-          This summer a second Lapp production facility goes into operation in Bhopal in India. The site covers 30 hectares. With three production buildings it will be the Lapp Group’s largest production facility. Initially, around 100 employees will be working in Bhopal, rising to 400 at a later date. The total investment in the first phase is €7.5 million.

Numerous innovations

The Lapp Group has further expanded its position in the area of renewable energies and set standards with innovations, for example in mechanical and systems engineering. The most important innovations have been:

-          The brand new LAPP HELIX for the area of e-Mobility. This is a “snail-design” charging cable. It offers significant savings in terms of space, weight, materials and costs.

-          For traditional mechanical and systems engineering, the new engine cable ÖLFLEX® SERVO FD 796 CP was developed. In e-chains, the premium cable copes with up to 50m/s² acceleration. This corresponds to 5 times the acceleration of gravity.

Outstanding application examples

-          Lapp is key supplier to the Heidenheim world market leader Voith for the Paper division. The world’s largest fine paper machine, which has been installed on the Chinese island of Hainan for the paper manufacturer Asia Pulp & Paper (APP), is fitted with Lapp branded products. When installing the paper machine on-site, primarily ÖLFLEX® CLASSIC power and control cables were fitted.

-          The Ziemann Group appointed Lapp to supply all underground cabling (42 tonnes of cable) for the building of a new brewery in Cambodia. 

-          After the devastating oil disaster in the Gulf of Mexico, safety and environmental protection have become critical issues for the oil and gas industry. Lapp produced a 900 m long special cable for the cabling of safety valves for an oil pipeline off the Egyptian cost of the Mediterranean.

-          Lapp supplied all the cabling for a new internal raw materials mixer for tyre manufacturer Continental.

-          The new stage-installation of the recently reopened Bolshoi Theatre in Moscow contains numerous e-chains and many kilometres of cable from Lapp Kabel. This was an order from Bosch Rexroth AB, who installed the stage equipment

Outlook for the current financial year 2011/2012

Despite the uneven performance of the world economy, the Lapp Group started the new financial year 2011/2012 with slight growth. In the first four months, sales increases compared to the strong months in the previous year were 4%. This performance is also due to the reduced copper price which is now around €100 per 100 kilos lower than last year. Andreas Lapp: “Despite the Euro crisis we continue to expect a stable turnover performance.” The company sees particularly high growth opportunities in Asia. Andreas Lapp: “There will always be markets with strong growth. We will also be present in these markets. This will secure jobs here in Germany and around the world.” Overall around 200 new jobs have been created around the world in the current financial year. There is also a focus on the qualification and development of current Lapp employees through targeted development programmes, education and training.


MOSAID Technologies Sells Optical Networking Patents

By admin, February 10, 2012 3:12 pm

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TenneT and Mitsubishi Corporation partner up in German offshore grid connections

By admin, February 10, 2012 8:41 am

Friday, Feb 10, 2012

TenneT has entered into a partnership with Mitsubishi Corporation by agreeing to sell a 49% equity stake in two German offshore high-voltage cable projects, BorWin1 and BorWin2. Mitsubishi’s aggregate equity commitment will total EUR 240 million. This partnership represents a milestone transaction in Germany, allowing infrastructure investors to invest in separate clusters of regulated assets.

The two grid connections connect a number of offshore wind farms in the German North Sea to the onshore electricity grid and have a combined total capacity of 1,200 megawatt. The equity contribution of Mitsubishi represents 20% of the expected combined capital expenditures of approximately EUR 1.2 billion for these two projects. TenneT will retain majority ownership and will continue to operate the connections.  

The underlying regulatory structure has been developed by TenneT in cooperation with the German regulator (Bundesnetzagentur). The transaction is still subject to certain conditions, which are expected to be met before the Summer, and has been approved by TenneT’s sole shareholder, the Dutch State.

Mel Kroon, CEO TenneT, regards the agreement as an essential step for the successful integration of renewable energy: “TenneT is making exceptional efforts in the connection of offshore wind energy in Germany. Currently we are working on nine projects to connect wind farms in the German North Sea. These projects total to 5,000 megawatt of renewable electricity, enough energy to supply 5 million households. This long-term partnership with Mitsubishi Corporation is both a logical and important step in our considerable contribution to the transition to a sustainable energy supply.”

Eelco de Boer, CFO TenneT: “With this agreement, TenneT fulfils all of last year’s equity raising promises to the financial markets. This transaction demonstrates that these offshore projects are a sound investment under current circumstances in the financial markets.
Deutsche Bank, RBS and Freshfields acted as advisers for TenneT. online casino . casino online . Mitsubishi’s primary advisers were KPMG and Hogan Lovells.


Source: TenneT