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HVAC&R event  breaks records HVAC&R event breaks records
Published: 23 Feb 18
The international Air Conditioning, Heating, Refrigerating Exposition (AHR Expo) set six all-time records, including more than 72 000 attendees and 49 995 registered visitors. The 70th edition of the world’s largest heating, ventilation, air conditioning and refrigeration (HVAC&R) marketplace took place in Chicago at the largest convention centre in North America, McCormick Place on January 22 to 24.
KAP gears up for growth, announces solid interim results
Published: 23 Feb 18
Diversified industrial group KAP Industrial Holdings has raised R2-billion through the issuance of three- to five-year bond tenures to fund its future growth, the firm stated in its six-month interim results for the period ended December 31. Its revenue from continuing operations increased by 29% year-on-year to R11.5-billion, while operating profit from continuing operations increased by 25% to R1.4-billion, cash from operations before working capital improved by 24.6% to R2-billion and net asset value a share increased by 9% to 420c.
Inferior imports  likely to increase in  refrigerant industry Inferior imports likely to increase in refrigerant industry
Published: 23 Feb 18
Illegal inferior refrigerants imports will increase as the ongoing phasing out of hydrochlorofluorocarbon and the impending phase out of hydrofluorocarbon (HFC) gases progresses, argues speciality chemical and gas supplier A-Gas South Africa national sales manager Michael Labacher. “These inferior refrigerants do not meet AHRI 700 specifications and if they are used in a refrigeration system, the system will not work to the required efficiency, it might be running at a higher energy consumption or the inferior product could affect the system’s cooling capacity.”
A major local aerospace industry development initiative is coming back to life
Published: 23 Feb 18
The Centurion Aerospace Village (CAV), an initiative of the Department of Trade and Industry (DTI) is being revitalised after spending some years in the doldrums. The initiative dates back to 2006 and was formally opened in 2008, but to date has only had one tenant, local aeronautics enterprise AHRLAC.
SA’s defence industry has potential to grow global market share
Published: 23 Feb 18
Owing to its international competitiveness and high levels of innovation, the local defence industry has a global reach and an increasing export market despite the low national defence budget, says global defence and security company Saab Grintek Defence president and CEO Trevor Raman. "The phrase 'punching above our weight' best describes the South African defence industry's niche defence capabilities and product offering."
Reduced funding triggers organisational turnaround Reduced funding triggers organisational turnaround
Published: 23 Feb 18
Owing to the Department of Defence's reduced funding allocation for defence in the country, acquisition agency Armscor has undergone the first phase of an organisational turnaround which will lead its top priorities being revenue generation, cost efficiency, and effective delivery of key products and services. "Potential revenue generation opportunities were identified and a new Business Enablement department was established as a support structure through which the 'On time, In time - towards a sustainable future' initiatives can be driven," says Armscor CEO Kevin Wakeford.
Denel looks for new market in Africa Denel looks for new market in Africa
Published: 23 Feb 18
State-owned aerospace and defence technology company Denel is looking to grow its export market by exploring other areas of specialisation, innovation, customisation and cyberspace.
Bloodhound supersonic car to arrive in South Africa in October
Published: 23 Feb 18
The UK-based team chasing a new world land-speed record will send its Bloodhound supersonic car to South Africa in October, the project has confirmed. Following the Bloodhound’s successful 320 km/h runway trial at Cornwall Airport Newquay, in the UK, in October last year, the team will be targeting 800 km/h as the next milestone in its attempt to break the current land-speed record of 1 227.98 km/h set in 1997.
Newmont beats Q4 earnings forecast; output on par with largest gold producer Barrick Newmont beats Q4 earnings forecast; output on par with largest gold producer Barrick
Published: 22 Feb 18
US gold miner Newmont Mining has reported market-beating earnings for the three months ended December 31, and reported production that is on par with that of leading gold producer Barrick Gold. The Denver, Colorado-based miner reported headline earnings for the fourth quarter of $216-million, or $0.40 a share, which was higher than average Wall Street analyst forecasts calling for earnings of $0.38 a share, on expected revenues of $1.91-billion. The performance was a 60% improvement on the adjusted earnings of $133-million, or $0.25 a share, in the fourth quarter of 2016.
Barrick guides for lower output for longer as it works to bolster production profile
Published: 22 Feb 18
Major miner Barrick Gold has outlined a lower production profile in the coming years as it focuses on developing four major new projects that are expected to lift output by about one-million ounces from 2021 onwards. The Toronto-based company expects to produce between 4.2-million and 4.6-million ounces of yellow metal between 2019 and 2022, at an average cost of sales of $850/oz to $980/oz, and average all-in sustaining costs (AISC) of $750/oz to $875/oz.
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