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Foundry Informatics Centre, 67 TughlakabaTel: +91 11 29960601, Email: fic@indianfo

THE INSTITUTE OF INDIAN FOUNDRYMENTHE INSTITUTE OF INDIAN FOUNDRYMENTHE INSTITUTE OF INDIAN FOUNDRYMENTHE INSTITUTE OF INDIAN FOUNDRYMEN

Issue No. 1

WEBINAR on “Introduction to 3D Sand Printing for Metal Casting”

This webinar will cover the basics of additive manufacturing as well as explain the technology used to create molds and cores with a 3D printer.

The webinar will cover the basics and explore how to utilize 3D printed sand components on your next project.

For free registration, please click on the link below:

Dated & Time: Wednesday, May 25

https://attendee.gotowebinar.com/register/43311723891

37391874

Dated & Time: Wednesday, May 2


41599490

abad Institutional Area, New Delhi – 110062 foundry.org, Web: http://foundryinfo-india.org/

IF Bulletin Supported ByIF Bulletin Supported ByIF Bulletin Supported ByIF Bulletin Supported By


Issue No. 180, Dated 24th May, 2016

ntroduction to 3D Sand Casting”

This webinar will cover the basics of additive manufacturing as well as explain the technology used to create molds and cores with a 3D printer.

he webinar will cover the basics and explore how to utilize 3D printed sand

For free registration, please click on the link below:

Dated & Time: Wednesday, May 25, 2016 (8:30 pm IST)


Dated & Time: Wednesday, May 26, 2016 (12:30 am IST)


g/


Theme of the Year

Foundry Informatics Centre, 67 Tughlakabad Institutional Area, New Delhi – 110062 Tel: +91 11 29960601, Email: [email protected], Web: http://foundryinfo-india.org/

Centre of Excellence for Castings It is to inform the members that Dept. of Heavy Industries, Govt. of India, has invited IIF to submit proposal for Centre of Excellence for Castings. The objective of Centre of Excellence will be to demonstrate new technologies, create common facilities, training etc. on a sustainable model. The Centre of Excellence will be financially supported by The Ministry for each project up to Rs 30 Crores (Excluding the cost of Land & Building which will be arranged by the consortium). The large units as well as MSME units can be

part of the consortium.

The financial support will be in the form of one time Grant. 80% cost of the project will be borne by the Govt. & balance 20% will be borne by the beneficiaries. The scheme is open for a limited period & the proposals with Detailed Project Report (DPR) received upto 15th July, 2016 will be considered by the empowered committee for approval on first come first served basis. We can organize the awareness programme for further clarifications where the officials of The Ministry will be also be present for direct interaction with members & to give on the spot clarifications. Subsequently, a concept note & detailed project report will have to be prepared on behalf of the consortium formed by the industry members for this purpose & submitted to Ministry of Heavy Industry for approval. Please confirm your interest by email at [email protected] to enable us to organize the awareness programme in your region/ chapter as a first step at the earliest possible.

4E Scheme for Energy Efficiency in

SME Foundries -World Bank Project

A World Bank (WB)- Global Environment Facility (GEF) funded project viz. “Financing Energy

Efficiency at MSMEs” is being implemented with a view to create a demonstration effect of financing of energy efficiency measures. A revolving fund has been created to provide loans for such energy efficiency projects to MSMEs at concessional interest rates and soft terms at interest rates which will be lower than normal rates by 2 to 3.85% depending upon rating of the units. Brief Details:

• Limited funds are available Term loans of upto - 90% of the project cost with minimum loan amount of INR 10 lakh and maximum loan amount not to exceed INR 150 lakh payable over 4.5 years with moratorium of 6 months.

• Financing of second hand machinery/equipment; purchase of land and construction of building (except minor civil works) shall not be taken up under the scheme.

• MSME should submit a DPR to SIDBI after getting Detailed Energy Audit (DEA) done through a technical agency / consultant having BEE certified Energy Auditor.

• The average cost of detailed energy audit may vary between Rs 1,00,000 –Rs 1,50,000/- .Out of this only Rs 30,000/- will be payable by the interested unit & balance amount will be subsidized through the funds available under the above project being operated by SIDBI

• The Borrower shall submit application to SIDBI BOs along with a copy of the DPR vetted by EEC. Eligibility of Borrower.

• Operational for at least three years and should have earned cash profit in the last two years of operation and should not be in default to any bank/FI.

• Individual, Proprietorship Concern, Partnership Firm, Limited Liability Partnership (LLP), Company, Society, Trust, Association of persons and any other legal entity as may be considered by SIDBI from time to time.

• Eligible amount of capital subsidy under CLCSS, TEQUP, etc. shall also be sanctioned along with the loan as per prevalent guidelines.

India SME Technology Services Limited (ISTSL) has been promoted by Small Industries Development Bank of India (SIDBI), Indian Bank (IB), Oriental Bank of Commerce (OBC), Indian Overseas Bank (IOB) and State Bank of India (SBI) for facilitating

IIF News…IIF News…IIF News…IIF News…


for detailed energy audit and DPR preparation under this scheme through empanelled consultants

Interested MSME foundry units in a cluster

can contact us by email at

[email protected] for detailed energy

audit & DPR for availing the benefit under

the scheme.

SOURECON 2016 IIF Southern Region is organizing the 26th edition of SOURECON 2016 on 28th May 2016 at Hotel Savera Chennai. The Theme of the event is "NURTURING MANUFACTURING THROUGH INNOVATION' which is an extension from that of 64th IFC. Interesting technical presentations are planned in line with the above theme. Works Visit is organized on 27th May 2016 to some of the state of the art foundries in and around Chennai. Papers Planned to be Presented:

• Innovating ways of developing castings quicker – MAGMA

• Innovative and latest technology on mould making – DISA

• Innovative Running & Gating Solutions - Iron Castings by RM Naik

• Innovative system driven 'Green Sand control' – MPM

• Pre-Mix technology to Surface finish & Rejection control – AMCOL

• Innovative Sand additives and conditioners for casting improvements - by Mr Andrew Tagg from John winter

• Innovative techniques / developments on refractory coatings - by Mr. Chandan Panda of Forace Polymers

• Short presentation on casting cleaning techniques with table for product display & Interaction -- by Zibo TAA Metal Technology Co., Ltd., China

** Video Presentations during Break on the Metal china 2016 representation on New Technology For online brochure and more details on the event, please click on the following link http://www.iifsr.in/SOURECON-2016.pdf

Approx Major Raw Material Prices

ITEMS

Price

15.05.2016

Rs./Kg

(Incl.

Excise)

Price

22.05.2016

Rs./Kg

(Incl.

Excise)

Pig Iron 28.2 28.2

Melting Steel Scrap 23.5 23.2

CRCA Scrap 26.4 26.1

Copper Ingot 370 368

Aluminum Ingot 139 139

Members now can update their membership data online. Please visit the following link

http://foundryinfo-

india.org/iif_form.aspx


Excerpts from Interview of Mr. V. Narasimhan, Executive Director, Brakes India Pvt Ltd. & Mr. Sanjay Shroff, Hon. Secy. IIF with Business Standard

Foundry industry hopes for Technology

Development Fund for MSMEs Urging the central government to set up a Technology Development Fund (TDF) for micro, small and medium enterprises (MSMEs) in the foundry sector, the Insitute of Indian Foundrymen (IIF) is set to train workers in basic skill sets, said a senior official. "The setting up of TDF by the central government for MSMEs to upgrade their technology and equipment will be of great help. The potential for the castings is huge within and outside India," Sanjay Shroff, honorary national secretary of the IIF told reporters here on Saturday. The Indian foundry industry consists of around 4,600 units and produces 10.02 million tonnes per annum. The industry exports around $2.7 billion worth of castings per year and an additional $2.5 billion in finished components, V.Narasimhan, executive director, Brakes India Private Ltd said. The industry expects the exports to grow to $12-15 billion over the next 10 years. "With the government's focus on Make-in-India, the foundry industry has to grow three times to 30 million ton per annum in next 10 years time. The industry would need an investment of around $8-10 billion in next 10 years," Narasimhan said. According to Shroff, training of the workers assumes importance and the IIF will soon start its programme. "We have designed training modules and a foundry unit can decide the kind of module that its workers need to undergo. Major portion of the training cost will be subsidised by the IIF," Shroff said. He said the modules are available in six language regional languages-Tamil, Kannada, Marathi, Gujarathi, Bengali and Hindi. Already four foundry units have agreed to get their workers trained. "In the first year we will train around 1,000 workers and take the number to 5,000 and increase that number in the following years," Shroff said.

• India returns rebate on Fe-alloy exports to UK, US

• LME aluminium higher, copper lower on USD LME zinc higher on deficit, Ni, Pb, Sn lower

• Scrap weekly report: Prices weaken, trading quiet

• European scrap and Italian rebar prices decline

• Brazil foundries look to end 2017 for growth

• Weak demand in Chinese ferrovanadium market

• Turkish domestic scrap falls further, imports may follow

Niti Aayog to woo green energy investors, devise strategy of hiking output fourfold by 2022 The government has tasked its premier think tank Niti Aayog with promoting India as a renewable energy investment destination and developing a strategy to help achieve its target of increasing output nearly fourfold to 175 GW by 2022 from 45 GW at present. This could potentially create a rift between the Aayog, which replaced the erstwhile Planning Commission last year, and the ministry of new and renewable energy, people familiar with the matter said. "It is difficult to ramp up output four times in six years because of a large number of commercial and technical problems associated with renewable energy generation. Hence, the government has decided to set up an overseeing mechanism which will see the implementation of the roadmap laid out by the government," a senior government official told ET, requesting anonymity. A two-tier structure has been put in place at the Aayog for the purpose, comprising an advisory group and a steering committee, the official said. Accordingly, the Aayog on May 4 issued two office orders announcing the setting up of these bodies. "The advisory group will oversee the integration of RE into electricity grid by promoting coordination between the Centre and states and suggest interventions required to promote India as an RE investment destination/hub to achieve national renewable energy targets," it said in an order.

News headlines…News headlines…News headlines…News headlines…

In the news…In the news…In the news…In the news…

IIF in news…IIF in news…IIF in news…IIF in news…

Foundry Informatics Centre, 67 TughlakabaTel: +91 11 29960601, Email: fic@indianfo

NITI Aayog vice-chairman Arvind Panagariya will chair the advisory group, which will have power minister Piyush Goyal and minister of state (energy) from 10 potential states as its members. The states involved will include Rajasthan, TN, Madhya Pradesh , Gujarat, Andhra Pradesh, Telangana, Karnataka, Maharashtra, Assam and Punjab, the order said. The second tier will consist of a steering committee chaired by Aayog's chief operating officer Amitabh Kant, with power and renewable energy secretary as its members besides principal secretary (energy) of the 10 states, as per another office order issued on the same day. "The steering committee will facilitate RE grid integration and efficient grid operating strategy, afford a coordination mechanism among different stakeholders at the central and state levels to implement the aforesaid strategies as well as report the progress of implementation assembly to the adviser group," the order said. The Aayog had last year come out with a report on the country's renewable electricity roadmap 2which it had recommended formulation of a national renewable energy law or policy that would define targets, identify the financial support required for achieving targets and undertake integrated energy resource planning.

Private demand to prop up growth to 7.5%: Moody’s Indian economy will grow 7.5% in the current and next year riding on rising private consumption, Moody's Investors Service has said before pointing out that private investment needed to pick up to maintain momentum. Moody's estimates Indian economy grew 7.3% in FY16. Initial estimates of India's statistics office pegged GDP growth at 7.6% in FY16. New estimates will be released at the end of this month. "India, as a net importer of commodities, has benefited from falling prices and growth will be driven by rising consumption. However, a sustained improvement in domestic private investment would be required for the growth momentum to be sustained," Moody's said in its Global Macro Outlook 2016-17. The ratings agency said India has benefited from lower commodity prices as it is a net importer of commodities and a low exposure to trade has also

abad Institutional Area, New Delhi – 110062 foundry.org, Web: http://foundryinfo-india.org/

nd Panagariya will chair the advisory group, which will have power minister Piyush Goyal and minister of state (energy) from 10 potential states as its members.

The states involved will include Rajasthan, TN, Madhya Pradesh , Gujarat, Andhra Pradesh,

angana, Karnataka, Maharashtra, Assam and

The second tier will consist of a steering committee chaired by Aayog's chief operating officer Amitabh Kant, with power and renewable energy secretary as

etary (energy) of the 10 states, as per another office order issued on

"The steering committee will facilitate RE grid integration and efficient grid operating strategy, afford a coordination mechanism among different

entral and state levels to implement the aforesaid strategies as well as report the progress of implementation assembly to the

The Aayog had last year come out with a report on the country's renewable electricity roadmap 2030 in which it had recommended formulation of a national renewable energy law or policy that would define targets, identify the financial support required for achieving targets and undertake integrated energy

p growth to

Indian economy will grow 7.5% in the current and next year riding on rising private consumption, Moody's Investors Service has said before pointing out that private investment needed to pick up to

estimates Indian economy grew 7.3% in FY16. Initial estimates of India's statistics office pegged GDP growth at 7.6% in FY16. New estimates will be released at the end of this month.

"India, as a net importer of commodities, has ices and growth will be

driven by rising consumption. However, a sustained improvement in domestic private investment would be required for the growth momentum to be sustained," Moody's said in its Global Macro

dia has benefited from lower commodity prices as it is a net importer of commodities and a low exposure to trade has also

helped. "Weak global growth has meant a 9% yeardecline in exports in real terms in 2015Q4, after declining by an average annual rate of 5.6% in the first three quarters of 2015," it said. Investment spending fell in the last quarter of 2015, as did industrial production, and capital utilisation rates remain low, the ratings agency said in its analysis. "Overall economic growth is supported by robust consumer spending, which makes up 55% of aggregate demand in the economy," Moody's said, adding that 7th Pay Commission award will support private spending along with a rise in rural incomes, provided the forecast of a good mo

Low interest rates could also provide some support to demand. "The prevailing low headline inflation is expected to remain so, given the current forecast of a good monsoon season, and should allow the Reserve Bank of India to sustain istance," it said. Moody's said the impact of weaker commodity prices is likely to fade over time with the stabilization of commodity prices. "Combined with the fact that external demand is likely to remain lacklustre, a sustained improvement in domestic private investment would be required for the growth momentum to be sustained," it suggested. Moody's said weak growth in emerging markets, driven by low commodity prices and waning export demand, will continue to act as a drag oneconomy this year. "The global recovery has weakened further and the outlook across countries remains uneven and largely weaker than in the previous two decades," said Elena Duggar, associate managing director at Moody's.

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"Weak global growth has meant a 9% year-over-year decline in exports in real terms in 2015Q4, after

annual rate of 5.6% in the first three quarters of 2015," it said.

Investment spending fell in the last quarter of 2015, as did industrial production, and capital utilisation rates remain low, the ratings agency said in its

growth is supported by robust consumer spending, which makes up 55% of aggregate demand in the economy," Moody's said, adding that 7th Pay Commission award will support private spending along with a rise in rural incomes, provided the forecast of a good monsoon is realised.

Low interest rates could also provide some support to demand. "The prevailing low headline inflation is expected to remain so, given the current forecast of a good monsoon season, and should allow the Reserve Bank of India to sustain its current accommodative

Moody's said the impact of weaker commodity prices is likely to fade over time with the stabilization of commodity prices. "Combined with the fact that external demand is likely to remain

improvement in domestic private investment would be required for the growth momentum to be sustained," it suggested.

Moody's said weak growth in emerging markets, driven by low commodity prices and waning export demand, will continue to act as a drag on the global

"The global recovery has weakened further and the outlook across countries remains uneven and largely weaker than in the previous two decades," said Elena Duggar, associate managing director at Moody's.


"Global trade remains subdued, while spillovers from emerging markets shocks to financial markets globally have increased substantially. China's economy is forecast to slow gradually from 6.9% in 2015 to around 6.3% in 2016.

Scrapping policy to boost auto industry turnover to Rs 20 trillion Ready with a new scrapping policy that will provide incentives for surrendering old polluting vehicles, Union Minister Nitin Gadkari today said it will boost the automobile industry turnover over four-times to Rs 20 lakh crore in the next five years. The draft of the much-awaited policy is ready and would be put in public domain within a week to seek views of the stakeholders and general public, the Road Transport and Highways Minister said. "We will put the vehicle scrapping policy on website within a week to seek suggestions and based on that we will seek Finance Ministry's approval. Once approved, it will be sent for the Cabinet nod," Gadkari told PTI in an interview. Automobile industry's turnover, which is about Rs 4.5 lakh crore at present, will touch Rs 20 lakh crore in the next five years with this policy and India can be the "number one country to export the world's best cars", he said. Giving further thrust to emission control measures, the draft norms for the 'end of life' policy are likely to provide about 50 per cent rebate in excise duty on new vehicles for buyers who surrender their polluting old ones. "We will set up industrial clusters near ports that will manufacture automobile parts at half the market rate. The labour cost in India is less. Car parts like copper, steel, plastic and aluminium would be available in plenty from old vehicles, which would be recycled at these clusters," he said. The government last month said it is planning 29 port-based coastal industrial centres under coastal economic zones which will boost exports by USD 110 billion besides creating one crore new jobs. The clusters are planned in the vicinity of India's top 12 major ports. The government is also considering giving financial incentives of up to Rs 1.5 lakh on surrender of over-ten-year-old vehicles to check pollution and address

road safety concerns, Gadkari had earlier said. The proposed policy will follow the government's earlier announcement to implement stricter emission norms for vehicles from April 2020 despite the auto industry calling it an "extremely challenging" task. India plans to leapfrog to stricter emission standards of Bharat Stage-VI fuel specifications, skipping BS-V norms altogether, from April 1, 2020. Under the proposed scrapping policy, people would get an incentive of up to Rs 30,000 for discarding small vehicles like cars, while total benefits after taking into account the tax exemptions could be up to Rs 1.5 lakh for big vehicles like trucks, the minister had said earlier. The new policy is likely to be valid for over-ten-year-old vehicles across the country. The plan is to set up 8-10 industrial units near ports like Kandla which will give certificates for accepting old vehicles and also recycle vehicles from India and abroad, thus giving a boost to employment and economy.

Slowdown in Africa, Latin America Hits India’s Auto Exports: Industry Body Automobile exports from India plunged 15.87 per cent to 2.44 lakh units last month due to a continuing demand slump in major overseas markets of Africa and Latin America. According to the latest data of industry body Society of Indian Automobile Manufacturers (Siam), the domestic industry had shipped 2.90 lakh units in the corresponding period last year. It is after three months of growth that automobile exports fell last month. In January, shipments had grown by 3.8 per cent, 0.95 per cent in February and 6.53 per cent in March. “Exports have declined overall. Every segment seems to have gone down and that is largely because African and Latin American markets are facing a lot of challenges right now,” Siam director general Vishnu Mathur told PTI. Elaborating further, he said a decline in commodity exports and a downward spiral in crude prices have led to a decline in income in the African markets. “In Latin America again, their currencies have been badly hit due to inflation. Therefore, the purchasing power of people has gone down there,” Mr Mathur


added. Mexico, Argentina, Nigeria and Algeria are some of the largest export markets for the Indian auto industry. Terming it a global challenge, Mr Mathur said: “We will have to wait and see what happens. I don’t think there is a very immediate high positive outlook because basic structural things need to happen.” In April, three-wheeler exports from the country were the worst hit as shipments declined 61.86 per cent to 18,135 units compared with 47,548 units a year ago. Exports of passenger carrier three-wheelers were down by a whopping 62.23 per cent at 17,876 units as against 47,333 units last year. Total two-wheeler exports during the period under review declined 10.8 per cent to 1,65,456 units compared with 1,85,480 units during the year-ago period. Motorcycle exports were down 15.28 per cent at 1,48,498 units as against 1,75,277 units in the previous year. Meanwhile, scooter exports grew 71.09 per cent to 15,485 units as against 9,051 units last year. Commercial vehicles exports also declined 2.68 per cent during the month to 6,826 units. However, passenger vehicle shipments rose 6.6 per cent during the last month and stood at 53,651 units. Passenger car exports rose 2.27 per cent to 43,758 units while utility vehicle shipments grew 30.05 per cent to 9,708 units.

Impact of diesel car ban: 5,000 jobs lost in auto sector; component suppliers hit The auto component manufacturers, who are mostly the small and medium enterprises (SMEs), have pointed that the demands of the spare parts have gone down massively after Supreme Court’s imposed ban on sale of diesel cars and SUVs of engine capacity 2,000cc and above in Delhi-NCR. On December 16 last year, the apex court banned sale of all diesel cars/SUVs with an engine capacity of 2,000 cc or more till March 31. It then extended the ban till April 30. As of now, there is no final word on when the SC will conclude the hearing and issue a final order. KNN caught up some Auto Component Parts Manufacturers who told that diesel cars parts demand has gone down but virtually petrol cars parts

demand has gone up. A Gurugram based supplier to Maruti- Suzuki, Sunil Bakshi, said that petrol car component demand has risen after the ban on diesel cars in Delhi. “Our factory is still busy in the production work as the fall in demand of diesel car components has been compensated by the rise in petrol car components,” he said. Rohit Bhatia who supplies parts to Nissan and Tata said, “We don’t have much impact because we only supply components of cars having engine of less than 2000 cc.” However, he said that the suppliers who supplied parts for the diesel cars above 2000 cc have been badly affected. He also said that the move has affected only Delhi-NCR and not whole India. Main victims of the ban are the car dealers who had already booked the cars to sale, he added. They have inventories which are hurting them now, said the entrepreneur. The ban imposed on diesel cars and SUVs of engine capacity 2,000cc and above in Delhi-NCR by the Supreme Court has impacted about 5,000 jobs in the automobile sector, according to Siam. It also said the ban, which is in effect since December 16, has resulted in production loss of around 11,000 units. "production loss due to the ban of these vehicles in NCR from December 16, 2015 to April 30, 2016 has resulted in 11,000 vehicles, which translates to impact on approximately 5,000 jobs in the industry," Society of Indian Automobile Manufacturers said in a written submission to the apex court.

World copper market to remain balanced in 2016 and 2017 The International Wrought Copper Council (IWCC) in its short-term forecast of copper market has stated that global refined copper market is likely to remain broadly balanced in 2016/2017. A similar view was recently expressed by the Statistical Committee of the International Copper Study Group (ICSG). The refined copper production in 2016 is expected to total 21.97 million tonnes, marginally higher by 0.2% when compared with the 2015 production. Also, the refined copper output is predicted to increase further by 1.7% in 2017 to 22.3498 million


tonnes, in comparison with 2016. The IWCC half-yearly report predicts that copper mine production is likely to total 18.935 million tonnes in 2016. The mine output will rise further by 3.4% in 2017 to 19.572 million tonnes. The global refined copper demand is expected to increase marginally by 1.5% to 22.038 million tonnes in 2016. The demand is likely to increase further by 1.8% to 22.436 million tonnes in 2017. The demand for refined copper is expected to improve slightly in major consuming nations including China, Japan, EU-28 countries and the USA. The Chinese demand is expected to go higher by 2.5% to 10.34 million tonnes during next year. The country’s refined copper demand is expected to rise further by 2.2% in 2017 to 10.57 million tonnes. Japn will also report slight demand improvement of 0.5% to 1.002 million tonnes in 2016. However, the demand is likely to remain stable in the country during 2017. The report forecasts marginal increase of 0.3% in refined copper demand by EU-28 region to 3.157 million tonnes in 2016. The demand is projected to grow by the same percentage in 2017 to 3.168 million tonnes. The US will report demand growth of 2.2% each in 2016 and 2017. The demand is likely to total 1.82 million tonnes and 1.86 million tonnes in 2016 and 2017 respectively. On the basis of the projected supply and demand statistics, global refined copper market is expected to remain essentially balanced in 2016 and 2017. In its latest Copper Market Forecast 2016-2017, ICSG states that copper markets worldwide are likely to remain more or less balanced in 2016 and 2017. It must be noted that the earlier forecast report had predicted a deficit of 127,000 tonnes for 2016 and a surplus of 175,000 tonnes for 2017. Anticipated delay in project execution and weakness in global economy has forced the copper body to make downward revisions in production and usage forecasts. According to ICSG, the world mine production is expected to increase by around 1.5% to reach 19.4 million tonnes in 2016. ICSG predicts higher global copper mine production growth of nearly 2.3% in 2017. It must be noted that the world mine production had registered a growth of 3.5% in 2015. The world refined copper production is expected to increase marginally by 0.5% in 2016 to 23 million tonnes. The 3% growth in primary refined output will be compensated by 1% decline in secondary production and 8% decline in SX/EW output. In 2017, the world refined production is expected to

grow by 2%. The biggest contributor to growth in both the years will be China, says ICSG. The world apparent refined copper usage is expected to remain flat in 2016, but may grow by 1.8% in 2017, backed by higher industrial demand growth in China and rest of the world.

MAT FOUNDRY GROUP LTD. ACQUIRES

MAJORITY STAKE OF SCHMIDT

MACHINENBAU GMBH

MAT Foundry Group Ltd., headquartered in Poole, UK has signed a purchase agreement to acquire the majority stake of Schmidt Maschinenbau GmbH, located at Westhausen, Germany. The acquisition further expands the British group’s investment volume into the European Automotive Market. Schmidt Maschinenbau GmbH is a world leading manufacturer and developer of complex machine-products for leading international car-manufacturers (OEMs). The company specializes in hi-tech transmission systems and components. The majority stake of MAT consists the plants in Westhausen, located at the state of BadenWürttemberg, and Eberswalde, located at the state of Brandenburg, as well as a productionplant in Auburn, Alabama US, which is currently being developed. Mr. Herbert Schmidt, the founder of the Schmidt Maschinenbau GmbH in 1985, will continue to lead the company as Managing Director. On behalf of the MAT Foundry Group Europe, Mr. Lars Steinheider will take over the position as Co-Managing Director. Beside this new position as Managing Director for the Schmidt Maschinenbau GmbH, Mr. Steinheider will also be responsible as Managing Director of MAT Foundry Group’s Automotive Ductile Iron Division. The transaction`s execution is subject to clearance by the competent cartel authorities under the merger control regulations. After the successful acquisition of the majority stake in Schmidt Maschinenbau GmbH, MAT Foundry Group Europe Ltd. will achieve a revenue of approx. € 440 Million p.a.

International news..International news..International news..International news..


Performance & Credit Rating

Scheme Need of a Performance and Credit Rating Mechanism for SSIs (now Micro and Small Enterprises) was highlighted in Union Budget’04-05. A scheme for SSIs (now Micro and Small Enterprises) has been formulated in consultation with Indian Banks’ Association(IBA) and Rating Agencies. NSIC has been appointed the nodal agency for implementation of this scheme through empanelled agencies. Benefits of Performance and Credit Rating • An independent, trusted third party opinion

on capabilities and credit-worthiness of SSIs • Availability of credit at attractive interest • Recognition in global trade • Prompt sanctions of Credit from Banks and

Financial Institutions • Subsidized rating fee structure for SSIs • Facilitate vendors/buyers in capability and

capacity assessment of SSIs • Enable SSIs to ascertain the strengths and

weaknesses of their existing operations and take corrective measures.

For more information on the scheme, please click on the link http://www.nsic.co.in/creditrating.asp

Domestic

International

MINISTRY OF FINANCE, DEPT. OF REVENUE

Notification No. 77/2016 - Customs (N.T.), dated

May 19, 2016

Rate of exchange of one unit of foreign currency

equivalent to Indian rupees, with effect from May

20, 2016

http://www.cbec.gov.in/resources//htdocs-

cbec/customs/cs-act/notifications/notfns-2016/cs-

nt2016/csnt77-2016.pdf

MINISTRY OF COMMERCE & INDUSTRY, DGFT

Public Notice No. 9/2015-20, dated May 16, 2016

Marking of Y in the EDI generated Shipping Bills by

Exporters would be treated as declaration of intent

to claim MEIS benefit

http://dgft.gov.in/Exim/2000/PN/PN16/PN0917.pdf

Disclaimer: Although every care has been taken to ensure

that information provided is correct, The Institute of

Indian Foundrymen will not be responsible for any error

or omission and it does not necessarily represent official

opinion of the Institute of Indian Foundrymen.

From.: 10th to 12th August, 2016 Venue: Pragati Maidan, New Delhi URL: http://www.mmmm-expo.com/

65th IFC and IFEX 2017 From.: 3rd to 5th February, 2017 Venue: Eco Park, Kolkata URL: https://www.youtube.com/watch?v=WqQFQS4qFDc

From.: 25th

to 27th

Oct, 2016 Venue: Jakarta International Expo, Kemayoran, Indonesia URL: http://www.indometal.net/

From.: 24th to 25th Nov, 2016 Venue: MARITIM KONFERENZHOTEL DARMSTADT URL: http://www.casttec2016.com/

From.: 6th to 9th Dec, 2016 Venue: DÜSSELDORF, MESSEGELÄNDE URL: http://euromold.com/

Government schemes...Government schemes...Government schemes...Government schemes...

Upcoming Events…Upcoming Events…Upcoming Events…Upcoming Events…

Notifications/ circulars…Notifications/ circulars…Notifications/ circulars…Notifications/ circulars…

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