Cavotec to exhibit innovative technologies at OTC Houston

Cavotec to exhibit innovative offshore technologies at OTC Houston

We are gearing up for another offshore extravaganza at one of the world’s leading trade shows for the energy industry, OTC (Offshore Technology Conference) HOUSTON, which gets underway on Monday.

During the show, we will be focusing on several product areas including explosion proof (Ex) (and non-Ex) radio remote controls (RRC), Alternative Maritime Power, cable chains, power connectors, slip rings and motorised cable reels.

Billed as highlighting “the development of technologies that serve the offshore industry in the fields of drilling, exploration, production, and environmental protection”, the event attracted almost 90,000 visitors in 2012, and some 2,500 exhibiting companies.

As in previous years, we are in the Norwegian Pavilion, and you will find us at booth 5235. Click here for a full exhibition booth map.


Cavotec continues to build its role as key supplier to Swedish industry

Cavotec continues to build its role as key supplier to Swedish industry

Cavotec continues to build its position as an important supplier of niche technologies to major Swedish industrial companies with several projects involving its radio remote control (RRC) systems in recent months.

“Cavotec has a long association with Swedish industrial groups; indeed, the Group was established in Sweden in the 1970s. These latest projects underscore our position as a trusted partner for OEMs such as ABB in Sweden and further afield,” says Cavotec Sweden Managing Director, Erik Chilò.

In one of the most recent orders for the Group in Sweden, Cavotec has supplied an advanced MC-3-5 RRC terminal to Swedish automation specialist Kelmo. The company is carrying out upgrading work on high voltage cable plant in Karlskrona, southern Sweden, on behalf of ABB.

ABB has also purchased a number of Cavotec Micro-control systems that will be used to control a cable production application. Factories in Karlskrona and in Luleå, in the north of the country, use Cavotec systems to control cable storage facilities and operate the critical extruder process when manufacturing cables.

Operators use the MC-3-5 units to control large machines that coil underwater sea cable into storage facilities before they are loaded on to ships or barges. ABB also uses a large number of Cavotec electrical plugs and cable reels for applications in ports and terminals, and in metallurgy industry.

Cavotec is also currently supporting the SEK 17-billion Stockholm City Line project in the Swedish capital. Stockholm City Line is a major infrastructure programme involving the construction of a six kilometre-long train line under the city. Cavotec has supplied cable management systems, RRCs and electrical connectors to leading contractors working on the project such as Bilfinger Berger, NCC, Zublin and PEAB. You can see images of these systems on our Facebook page here.

Cavotec has two dedicated operations in Sweden, Cavotec Connectors in Staffanstorp, southern Sweden, and Cavotec Sweden, just north of Stockholm.

Growth continues in Q2: an overview of our interim report

We recently published our interim results, and in case you missed them, here is a brief overview of how the Group performed in the first of the year.

Cavotec equipment powers machinery at applications worldwide

Cavotec equipment powers machinery at applications worldwide

Overall, the report was positive, with the Group reporting growth in most markets. Revenues increased 21 per cent to more than EUR 101,282 thousands (a record high), and our Order Book was up almost 6 per cent to EUR 100,595 thousands compared to the end of 2011.

You can download a PDF of the full report here.

The period was strong for our Ports & Maritime unit with a large number of projects. Our Alternative Maritime Power systems that supply electrical power for ships in port attracted several good orders in Asia and the US. Our orders from the Port of Oakland and Long Beach were particular highlights.

Our Airports unit registered strong progress throughout the period with orders in mature markets such as Europe and the US, and in emerging markets such as India and the Middle East.

Mining & Tunnelling was strong throughout the first months of the year, with markets in Australia and North America being especially buoyant; while investment in major infrastructure projects lifted demand for the Group’s tunnelling systems.

Our diverse General Industry unit continued its positive performance with encouraging results in the US, where our advanced radio remote control systems continued to develop an impressive profile with customers for performing highly specialised functions in niche sectors such as offshore energy.

If you would like to find out more about Cavotec, take a look at our Investor Relations website, or drop me a line here at any time.

Cavotec now ready to list on NASDAQ OMX in Stockholm

We are pleased to announce that our proposed share listing on the NASDAQ OMX Stockholm has moved a step closer following approval of the proposal by the NASDAQ OMX Stockholm Listing Committee and the green light from the High Court in New Zealand.

Last week, the Listing Committee of the NASDAQ OMX Stockholm approved Cavotec’s proposed listing on the OMX. This approval, conditional on the completion of administrative steps and final registration of the listing prospectus by the Swedish Financial Supervisory Authority, is a critical step for the company to move its listing from the NZX in New Zealand to the  OMX.

Another significant milestone was reached on Monday with the New Zealand High Court granting Cavotec permission to implement its proposed Scheme of Arrangement and to continue the process of delisting from the NZX.

“The approval received from the NASDAQ OMX Stockholm Listing Committee represents a milestone for our company as it signals a clear acceptance of Cavotec into part of one of the world’s largest stock exchanges,” says Cavotec CEO, Ottonel Popesco.

“The authorisation from the New Zealand High Court to continue our proposed Scheme of Arrangement clears the way to structure the Group for sustained future growth.”

The Board remains confident ahead of its proposed listing on the OMX. The strong order book of EUR 102.1 million at the end of August is the result of a broad product offering and global presence – two key elements of Cavotec’s continued success as a supplier of innovative and sustainable system integration of power, fuel and air supply between fixed and mobile equipment.