Tuesday 28 July 2015

Savola Q2 profit falls 15pc, warns Q3 profit will also drop

Saudi Arabia's Savola Group reported a 15.4 per cent fall in second-quarter net profit on Tuesday, missing analyst forecasts as the food producer warned its third-quarter profit was likely to plunge. The company made a net profit of SAR434.4 million ($115.84 million) in the t


19 killed in Egypt furniture factory fire

A fire at a furniture factory in Egypt's El Obour city  left 19 dead on Wednesday, the health ministry spokesman said. The fire in El Obour, a city about 35 km northeast of Cairo, also left 22 people wounded, Hossam Abdel Ghaffar said. The cause of the fir


Chicago Pneumatic unveils new LED light tower

Chicago Pneumatic has unveiled its new ultra-bright LED (light-emitting diode) light tower, the CPLB 6, which utilises four 350 W LEDs to provide a lighting efficacy of up to 200 lux. By using LEDs rather than conventional halide lights, the CPLB 6 light tower is 20 per cent brig


Kennametal’s spindle connection ‘key to metal removal’

Machine builder Fives Cincinnati has found Kennametal’s KM4XTM spindle connection key to achieving new levels of metal removal on industry-leading ‘super-profilers.’ For manufacturers of all sizes and types of aircraft, and their entire supply chain of component


ADP deploys new terminal operating system at Zayed Port

Abu Dhabi Ports (ADP), the master developer, operator and manager of ports and industrial zones in the emirate, has successfully implemented Jade’s terminal operating system, Master Terminal, at Zayed Port. It went live with its new terminal operating software on July 1, at


German print industry on show at Riyadh summit

German manufacturers of machines and systems for the printing and paper converting industry will present their innovations at an upcoming series of conferences in Riyadh, Saudi Arabia. Print Promotion Print Media Conferences provides regional professionals in the printing, paper


Honeywell to acquire Melrose's Elster business for $5.1bn

Honeywell International Inc said it would buy the utility consumption metre business of Britain's Melrose Industries Plc for £3.3 billion ($5.14 billion) to boost its presence in high-growth regions. Melrose shares jumped 16 per cent in early trading on Tuesday, making


GKN to buy Dutch aerospace supply firm for $781m

British engineering company GKN said it agreed to acquire Netherlands-based Fokker Technologies for €706 million ($781 million) including debt, to strengthen its position as a supplier to aeroplane manufacturers. GKN, historically a supplier of car parts which has over the l


DP World begins work on $1.6bn new Dubai terminal

DP World, the Dubai-based global shipping terminal operator, has launched construction work on a brand new $1.6-billion container terminal at Jebel Ali Port, Dubai, UAE. Phase 1 of the Container terminal 4 (T4) project will deliver new capacity of 3.1 million TEU (twenty-foot equ


DP World H1 container volumes up 4.1pc

DP World, a Dubai-based global operator of marine terminals, said it handled 30.6 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during the first half of 2015, with gross container volumes growing by 4.1 per cent on a like-for-like basis.

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