Hot Off the Press
Steel Coil Services Installs
High-Speed Oscillate Coil-Winding System
Tuesday, April 23, 2002
Steel Coil Services has installed a high-speed oscillate coil-winding system, from Braner USA, Inc., Schiller Park, IL, at its Port of Catoosa, OK, coil-processing plant. The system can produce jumbo oscillate-wound coils at line speeds to 1500 ft./min. Oscillate-wound coils are said to contain ten times or more lineal strip footage than narrow-ribbon-wound slit coils, reducing metalforming production losses related to fresh-coil threading.
The new system can take 70,000-psi-yield-strength carbon and stainless-strip steel in gauges from 0.028 to 0.060 in. and from widths of 3/8 to 3/4 in. and rewind it into 6000-lb. 21-in.-wide oscillate coils. It can generate coils to 60-in. dia. without side plates or coil spools for coil containment. The system is equipped with a vertical payoff uncoiler capable of handling a 15,000-lb. stack of narrow-width slit coils. A flash butt welder and weld annealer connect the tail end of one slit coil to the lead end of a fresh coil. A microprocessor servo system controls the rewind oscillation rate, helix pitch, gap between strip widths and overall oscillated coil width.
FreeMarkets Extends Agreement
with J&L Specialty Steel
Tuesday, April 23, 2002
FreeMarkets, a provider of web-based sourcing software and services, has extended its agreement with J&L Specialty Steel, Inc., Coraopolis, PA. Under this agreement, J&L will continue to leverage FreeMarkets’ software and services for sourcing goods and services online.
FreeMarkets’ technology and services allow organizations to identify global suppliers, create and distribute detailed requests for quotation, and structure and execute online markets for a range of goods and services, according to company officials. Since its inception in 1995, more than 19,000 suppliers from more than 70 countries have competed for $30 billion worth of business that has been bid through FreeMarkets. For more, visit www.freemarkets.com
Riviera Tool Notes Stronger Sales,
Picks Up Auto Contracts
Monday, April 22, 2002
Riviera Tool Co., Grand Rapids, MI, reported net sales of $3.5 million in the second quarter of fiscal 2002, an increase of almost 45 percent over the same period last year. Officials of the company, a designer and manufacturer of stamping die systems, attribute higher sales to increased shipments and completed die-system contracts. In the same quarter, the company narrowed its net loss to $687,990 as compared to a net loss of $1.9 million in the same period last year.
Also, the company announced $21 million in purchase orders and letters of intent related to new-model production by Mercedes-Benz, BMW and Nissan Motors. These represent Riviera’s largest contract to date and result from the company’s recent investment in technology and expanded capabilities.
“While the past 18 months have been extremely difficult for our industry, we have finally begun to turn the corner,” said Riviera CEO Kenneth K. Rieth. “We are encouraged to see automakers and their Tier One suppliers begin to release contracts for new programs, and expect a progressive increase in the flow of new orders for the remainder of this calendar year.”