Ningbo, China - (e-bearings.com) According to customs statistics, the bearing manufacturers of Ningbo City exported 500 million sets of bearings in the first half of 2009, valued at 160 million U.S. dollars, respectively, compared with the same period last year (the same below) decreased 37.6% and 37.2%.
The export of general trading is 490 million units; Export of foreign-invested enterprises are the main force, a total of 160 million sets exported; the European Union, India and the United States is the main export market, exports were 45.65 million U.S. dollars, 22.96 million U.S. dollars and 1683 million, the three together accounted for 53.4 percent of total exports; the export of ball bearings in the main types of bearings, ball bearings exported 140 million U.S. dollars, accounting for 87.5 percent of total exports.
Showing posts with label 2009. Show all posts
Showing posts with label 2009. Show all posts
8/05/2009
7/06/2009
China Bearing Annual production capacity 10 billion sets, ranked third in the world
July, 3th, Beijing - (e-bearings.com) “China has overfulfilled 'China's the Eleventh Five-year Plan ' two year advanced in bearing industry, to plan the original main camp service ahead of time to receive 84 billion Yuan(aprox. 12.3 billion US dollars), the bearing output 8 billion set of economic output goals.” On June 26, Chinese Bearing Industrial association honorary Director Zhang Qiaofan indicated at this association six session of general meetings that, our country bearing industry each work all obtained made great strides, the industry has realized the fast steady development, became the world third big bearing to make the great nation.
Although financial crisis to bearing industry influence started from last June to appear. From Jan. to April this year, the bearing industry realization profit total amount 630 million Yuan(aprox. 100 million US dollars), reduced 29.94% compared with the same period of last year. But in April profit increased 44.94% on a month-on-month basis, although in March glide down on a month-on-month basis , but still presented grows, the benefit assumed the optimistic trend of escalation. Zhang Qiaofan believed that, at under the international finance crisis influence, the contradiction which the gradual market demand insufficiency and the domestic and foreign market competition will intensify extremely is prominent. But simultaneously also is the industry carries on the deepened reform, the adjustment structure, the promotion industry level golden opportunity. Chinese Bearing Industrial association estimated that, China bearing industry in 2009 the economic output will grow about 10%.
When reviews for 4 year development courses, Zhang Qiaofan said that, during 2005 to 2008, the industry complete product sale income and the bearing output increase progressively equally 18.52% and 19.52%, has realized the industry fast growth.
In 2008, China exports the bearing to reach 3,390,000,000 sets, grew 2.75% compared to the last year; export 2,970,000,000 US dollars, grew 38.07% compared to the last year; Imports the bearing 1,580,000,000 sets, reduced 0.73% compared to the last year with 2,690,000,000 US dollars, grew 24.99% compared to the last year. The trade surplus had achieved 280,000,000 US dollars, create historical new high.
Although financial crisis to bearing industry influence started from last June to appear. From Jan. to April this year, the bearing industry realization profit total amount 630 million Yuan(aprox. 100 million US dollars), reduced 29.94% compared with the same period of last year. But in April profit increased 44.94% on a month-on-month basis, although in March glide down on a month-on-month basis , but still presented grows, the benefit assumed the optimistic trend of escalation. Zhang Qiaofan believed that, at under the international finance crisis influence, the contradiction which the gradual market demand insufficiency and the domestic and foreign market competition will intensify extremely is prominent. But simultaneously also is the industry carries on the deepened reform, the adjustment structure, the promotion industry level golden opportunity. Chinese Bearing Industrial association estimated that, China bearing industry in 2009 the economic output will grow about 10%.
When reviews for 4 year development courses, Zhang Qiaofan said that, during 2005 to 2008, the industry complete product sale income and the bearing output increase progressively equally 18.52% and 19.52%, has realized the industry fast growth.
In 2008, China exports the bearing to reach 3,390,000,000 sets, grew 2.75% compared to the last year; export 2,970,000,000 US dollars, grew 38.07% compared to the last year; Imports the bearing 1,580,000,000 sets, reduced 0.73% compared to the last year with 2,690,000,000 US dollars, grew 24.99% compared to the last year. The trade surplus had achieved 280,000,000 US dollars, create historical new high.
4/28/2009
Timken shares fall after 2009 forecast lowered
By Rob Delaney
Bloomberg News
POSTED: 11:06 a.m. EDT, Apr 27, 2009
Shares of Timken Co. (NYSE: TKR), a supplier of bearings to the world's top car makers, fell the most in six months in New York after the company lowered its 2009 earnings forecast on concern the slump in demand will last longer than it expected.
Timken plunged $3.41, or 20 percent, to $13.44 at 10:17 a.m. in New York Stock Exchange composite trading, the largest intraday decline since Oct. 24. The shares dropped 14 percent this year before today.
Results in 2009 will range from a profit of 15 cents a share to a loss of 15 cents, Canton-based Timken said today in a statement. On Jan. 29, the company forecast 2009 profit excluding one-time items of $1.30 to $1.60 a share.
Chief Executive Officer James Griffith has lowered production and laid off workers as the global economic slowdown cut demand for cars and other manufactured goods. The average price of hot-rolled steel sheet, the benchmark product used in cars and appliances, fell by more than half to $471 a ton in March from a record in July, according to Purchasing Magazine.
''It's now clear that the impact of the recession on the demand for our products will be deeper and longer lasting than we anticipated,'' Griffith said in a statement.
The company will have eliminated 7,000 jobs, or more than 25 percent of its work force, by the end of this year compared with the start of 2008, and expects to incur a $70 million charge related to the layoffs, Timken said in the statement. The company had cut 2,500 jobs as of Jan. 29, according to Timken's fourth-quarter earnings announcement in January.
First-quarter net income fell to $870,000, or 1 cent a share, from $84.5 million, or 88 cents a share, a year earlier, Timken said, while sales dropped 33 percent to $960.4 million.
The company also cut its dividend by 50 percent to 9 cents and will ''significantly'' reduce capital spending from 2008 levels.
Global steel output might drop 15 percent to 1.02 billion metric tons this year as an economic slump curbs demand, before beginning to recover next year, the World Steel Association said today in a presentation in London.
Demand will fall the most in the U.S., with a 37 percent decline, while usage in the 27-member European Union will be about 29 percent lower, the group said. Excluding the emerging economies of Brazil, India, China and Russia, demand will drop about 22 percent. Output in China will slip 5 percent.
Steel demand in the U.S. is ''virtually non-existent,'' Dan DiMicco, chief executive officer of Nucor Corp., the second- largest U.S.-based steel producer by 2008 sales, said after Nucor announced the company's first quarterly loss on April 23.
Shares of Timken Co. (NYSE: TKR), a supplier of bearings to the world's top car makers, fell the most in six months in New York after the company lowered its 2009 earnings forecast on concern the slump in demand will last longer than it expected.
Timken plunged $3.41, or 20 percent, to $13.44 at 10:17 a.m. in New York Stock Exchange composite trading, the largest intraday decline since Oct. 24. The shares dropped 14 percent this year before today.
Results in 2009 will range from a profit of 15 cents a share to a loss of 15 cents, Canton-based Timken said today in a statement. On Jan. 29, the company forecast 2009 profit excluding one-time items of $1.30 to $1.60 a share.
Chief Executive Officer James Griffith has lowered production and laid off workers as the global economic slowdown cut demand for cars and other manufactured goods. The average price of hot-rolled steel sheet, the benchmark product used in cars and appliances, fell by more than half to $471 a ton in March from a record in July, according to Purchasing Magazine.
''It's now clear that the impact of the recession on the demand for our products will be deeper and longer lasting than we anticipated,'' Griffith said in a statement.
The company will have eliminated 7,000 jobs, or more than 25 percent of its work force, by the end of this year compared with the start of 2008, and expects to incur a $70 million charge related to the layoffs, Timken said in the statement. The company had cut 2,500 jobs as of Jan. 29, according to Timken's fourth-quarter earnings announcement in January.
First-quarter net income fell to $870,000, or 1 cent a share, from $84.5 million, or 88 cents a share, a year earlier, Timken said, while sales dropped 33 percent to $960.4 million.
The company also cut its dividend by 50 percent to 9 cents and will ''significantly'' reduce capital spending from 2008 levels.
Global steel output might drop 15 percent to 1.02 billion metric tons this year as an economic slump curbs demand, before beginning to recover next year, the World Steel Association said today in a presentation in London.
Demand will fall the most in the U.S., with a 37 percent decline, while usage in the 27-member European Union will be about 29 percent lower, the group said. Excluding the emerging economies of Brazil, India, China and Russia, demand will drop about 22 percent. Output in China will slip 5 percent.
Steel demand in the U.S. is ''virtually non-existent,'' Dan DiMicco, chief executive officer of Nucor Corp., the second- largest U.S.-based steel producer by 2008 sales, said after Nucor announced the company's first quarterly loss on April 23.
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