Fibre Reinforced Polymers Composites In Strengthening Of Structures - Free Essay Example

Aim The project aim is to identify the use of FRP (Fibre Reinforced Polymers) composites in strengthening of structures. The general process and methodology considered in achieving this objective is by externally bonding Fibre reinforced plastics to the metal structure/plate and thus testing the specimen under 3 point bend as well as 4 point bend tests. The preliminary report will focus on the project introduction, literature review related to the project topic, project plan and further to be carried out. Analysis of Tasks As mentioned the projectà ¢Ã¢â€š ¬Ã¢â€ž ¢s main focus is strengthening of structures. So the question is why is there a need for strengthening of structures? The reason behind the strengthening of structures is that the structure will be able to support greater magnitude of loads than the values for which the structures are originally designed. Strengthening may become necessary in course of time in order to overcome the damage caused due to environmental factors such as corrosion as well as fatigue cracking. The method of bonding reinforcement represents an attractive solution to the problem as it can be achieved with relatively small impact on the structure. The next stage of the preliminary thesis will focus on the literature review. The literature review section is divided in to two sections firstly it will focus on the topics related to the Composite Materials, which will involve the following topics. Definition of Composite Material Classification of Composite Materials Types of Matrix Types of Reinforcement Advantages and Disadvantages of Composite Materials Manufacturing of Composite Materials The next section of the literature review will focus on the topics related to strengthening of structures. For this section following topics will be considered. Different Methods for Structure Strengthening Different Methods for Structure Strengthening using FRP Composites. The preliminary thesis will also look at the comparison between the structural strengthening using FRP Composites and Steel plates. This will help in giving a suitable reason as to why Composites are preferred over Steel plates for structural strengthening. Composites are considered as one of the most promising material for reducing the weight as well as increasing the strength of the material. The theory of hybrid material has been successfully exploited when studying sandwich panel technology. Now the concept of integrated multi materials is extended to a wider variety of structures, components and applications. Fibre reinforced plastics (FRPà ¢Ã¢â€š ¬Ã¢â€ž ¢s) have been successfully used for the post strengthening of structures over a number of years. The design and manufacturing of composites has led to its application in variety of industries such as automotive, aerospace, sporting goods, construction and in the marine as well as oil and gas industries. Moreover the method of bonded reinforcements also comes into account when there have been cases where errors in design or construction of a structure have questioned safety aspect. This can be achieved by externally bonding reinforcements at a cost of very small impact to the structures. Project Time-Line (Gantt chart) Literature Review Composite Materials Composite materials also known as composites are defined as a combination of two or more materials to give a unique combination of properties [1]. This definition is very general and thus includes metals, alloys, plastic co-polymers, minerals and wood. A material is only classified as a composite if the material satisfies the following conditions [2]: The material must be manufactured It should consist of two or more physically and/or chemically distinct, suitably arranged or distributed phases with an interface separating them. The characteristics of the composites are not depicted by any of the components in the isolation. Fibre reinforced composite materials differ slightly from the general definition because in this FRP the constituent materials are different at the molecular level and at mechanically separable. However the final material properties of the composite are better in comparison to that of the constituents. The figure 1 below gives a basic idea of how the structure of composite material looks like. The composites can be classified as fibre reinforced, particle reinforced, dispersion strengthened and laminates composites. Figure Structure of Composite Material [https://resources.edb.gov.hk/~s1sci/R_S1Science/sp/en/syllabus/unit14/new/images/s.gif] The composite material consists of two main elements the matrix and reinforcements (fibre). The classification of Composite materials is as shown in figure 2. Composite Materials Matrix Reinforcements Polymer Metal Ceramic Particle Reinforcement Fibre Reinforcement Structural Reinforcement Laminates Long Fibre Short Fibre Preferred Orientation Random Orientation Bidirectional Unidirectional Preferred Orientation Random Orientation Figure Classification of Composite Material Types of Matrix There are three main types of matrix considered when studying composites materials namely Polymer, Metal and Ceramic. Polymer Matrix composites are the most common types of matrix composites. They are also known as FRP (Fibre reinforced polymers). The resin used in here is polymer based combined with a variety of fibres such as Glass, Carbon and Aramid as reinforcements. Metal Matrix Composites are mainly used in the automotive industry. The materials use a metal for example Aluminium as the matrix which is then reinforced with fibres such as silicon carbide. Ceramic Matrix Composites are used in very high temperature environments. This type of materials uses Ceramic as the matrix and the matrix is then reinforced with short fibres such as Silicon Carbide and Boron Nitride. A matrix plays an important role in a Composite structure. There are several functions of Matrix most of which are very important to the satisfactory performance of the structure. The following points outline the important functions of the matrix. The matrix binds the fibre together and thus transfers the load to the fibres. The matrix provides the rigidity and shape to the structure. The matrix isolates the fibres such that each individual fibre can perform separately, due to this crack propagation process slows down. The surface finish quality of the structure is provided by the matrix. The matrix acts as a protection to the reinforced fibres from chemical attack and mechanical wear and tear. The type of material selected as matrix affects the ductility and failure mode of the structure together with the fibreà ¢Ã¢â€š ¬Ã¢â€ž ¢s compatibility. Types of Reinforcements The other constituent in the composite material is called the Reinforcement. This gives the composite the necessary strength and stiffness. The structure of the reinforcement is thin rod like. The most commonly used reinforcements are Glass, Carbon, Aramid, and Boron fibres. The diameters of these fibres range from 5 µm to 20  µm. [1] Due to the thin diameter of the fibre, the fibres are flexible and can be formed easily into any shapes. Fibres can come into many forms such as continuous fibre, discontinuous fibre, short fibres, long fibres, organic fibres and inorganic fibres. Fibre brings out the high performance of the material; this is due to three important characteristics of the fibres. The orientation of the fibres also has an impact on the performance of the composite. The fibres can be unidirectional, cross ply or random in its arrangement. Small diameter in comparison to the grain size. As a result of this higher fraction of theoretical strength can be attained. High aspect ratio (length/diameter); this allows a larger amount of load to be transferred. High degree of flexibility. The main functions of fibres are as listed below [1]; To carry the load. Hence fibres are made from materials with high tensile strength and high elastic modulus. Provides strength, stiffness, thermal stability and other structural properties in the composites. Provide electrical conductivity or insulation, depending on the type of fibre used. Advantages of Composites Composites are designed to perform in applications which require lighter weight and higher performance. The advantages of using composites are listed below. High resistance to Corrosion; due to this the application in marine, infrastructure and chemical is very good. High specific stiffness and high specific strength; this gives a weight reduction so is used for the application in aerospace, automotive and manufacturing of sporting goods. The impact resistance is high compared to metal. Higher fatigue strength. Unidirectional carbon/epoxy composites have good fatigue strength of almost 90% of its static strength. Composite materials offer increased amount of design of flexibility. For example the coefficient of thermal expansion of composite can be made zero if suitable constituents and lay up sequence is selected. As the coefficient of thermal expansion is relatively low compared to metals, the composite structure thus provides a good dimensional stability. Also due to the design flexibility, composite materials can be formed into any shapes. Process cycle times and costs are also reduced because of the use of composites in production of net shape and near net shape parts. Composite materials dampen the vibrations an order of magnitude better than metals. Glass reinforced and aramid reinforced composite meet the FAA and JAR requirements for low smoke and toxicity and thus are used in interior panels of aircrafts, stow bins and galley walls. Disadvantages of Composites There will always be limitations to the benefits of the composites. The disadvantages are as listed below. Weaker in transverse direction and low in toughness. Material cost is high compared to that of steel and aluminium. The lack of high volume production limits the wide spread use of composite materials. However this is changing as modern production methods such as Pultrusion, Resin transfer Moulding and other methods have been automated to increase the rate of production. The knowledge through books and database is limited when comes to designing parts with composite. Composites absorb moisture, which affects the properties and dimensional stability of the composite. Difficult to join together with other material due to its anisotropic properties and high sensitivity to damage. For example when drilling holes for mechanical fastening. Brittle like behaviour. Difficult to repair as most composites use thermo set matrices that can not be re shaped. On the contrary thermoplastics can be repaired how ever they are rare [4]. Solvent resistance, chemical resistance and environmental stress cracking of composite depend on the properties of polymers. Some polymers have low resistance to the solvents and environmental stress cracking[1]. Manufacturing of Composite Materials Before looking into manufacturing of composite materials; it is important to look at manufacturing of fibre performs briefly. Fibre performs is how fibre are manufactured before being bonded to the matrix to form a composite material. Fibre performs are often manufactured in sheets or filaments in case of spraying applications. The fibre manufacturing process is carried out by adopting the technique used in textile industry. The techniques used are weaving, knitting, braiding and stitching [5]. The manufacturing process of composite material in general can be divided into two main processes. Prepreg Moulding Wet Moulding PrepReg Moulding The process of prepreg moulding can be further categorized as: Bladder Moulding Compression Moulding Autoclave/Vacuum bag Moulding Mandrel Wrapping [6]Bladder Moulding: In this process the sheets of prepreg material are laid up and placed in female style mould along with a balloon like bladder. The mould is then closed and placed in the heated press. Eventually, the bladder is pressurized which then forces the layers of material against mould walls. The part is then cured and removed from the hot mould. The process is ideally suited for complex hollow shapes. Also the process has great cost to performance balance. Typical example of equipment using bladder moulding technique is the manufacturing of tennis racquet. Average cure cycle range is 15-60 minutes. Compression Moulding: A process where a à ¢Ã¢â€š ¬Ã…“performà ¢Ã¢â€š ¬? or à ¢Ã¢â€š ¬Ã…“chargeà ¢Ã¢â€š ¬? of single moulding compound (SMC) or bulk moulding compound (BMC) or sometimes prepreg fabric is placed in the mould cavity. Once the mould is closed, the material is compacted and cured inside by heat and pressure. The process also offers excellent detailing for geometric shapes. The average cure cycle range is 2-20 minutes. The tooling is process is often more expensive. Auto Clave/Vacuum Bag Moulding: The figure below gives an idea of vacuum bagging for prepreg lay-up process. Figure Vacuum bagging for prepreg lay up process [https://www.highcomp.no/design/bilder/vacum/vacum.gif] Once all the prepregs are laid out in the desired sequence, vacuum bagging preparations are set up as per the figure 3 for curing of the part. First step is application of release film on the top of all the prepreg. The release film is a perforated film that allows captured air, excess resin and volatiles to escape. Secondly is the application of bleeder on top of release film; it is a porous fabric that absorbs moisture and excess resin coming from stack of prepregs/laminates. Thirdly is the application of non porous and non-perforated film on top of bleeder. After this a breather layer is applied; this is a porous fabric which creates even pressure around the part and at the same time allowing air and volatiles to escape. Then final layer is of vacuum bag. The vacuum bag is an expendable polyamide film. The film is sealed on all sides of laminate using a seal tape. A nozzle is inserted into the vacuum bag and is then connected to hose vacuum pump for creating vacuum. Mandrel Wrapping: In these process sheets of prepreg material is wrapped around steel or aluminium mandrel. The prepreg material is compacted by nylon or polypropylene cello tape. Parts are cured by hanging in the oven. Once the curing process is completed, the cello and mandrel are removed which results in a hollow carbon tube. Advantages of prepreg lay up process are that it is simple process when manufacturing complex parts. Also strong and stiff parts can be fabricated using this process. Also allows production of high fibre volume fraction. Prepregs usually have more than 60% fibre volume fraction. Limitations of the process being that labour is intensive as a result of which the process is not suitable for high volume production applications. Also parts manufactured by this process are very expensive. Wet Moulding Wet moulding process can be divided into following processes. Wet layup Spray Up process Filament winding Pultrusion Resin transfer Moulding (RTM) Resin transfer moulding under vacuum (VARTM) Wet Lay-up: in this process a fabric is placed in open mould which is then hand saturated with wet resin. The curing occurs normally at room temperature. However it can be cured at higher temperatures based on the heat resistance of the mould. The advantage of this process is that the material cost and tooling cost is low. Because of this the process is considered as low tech process. Spray-up process: The processing steps are similar to that of the wet lay-up process except for the method of creating the laminates. The basic steps are as follows [1]. The mould is waxed and polished for easy de-moulding Gel coat is applied to the mould surface and allowed to harden before building any other layer. The barrier coat is applied to avoid fibre print through the gel coat surface. Oven curing of barrier coat. Mixing of resin with fillers and the mixture is then pumped to a holding tank. Spraying of resin, catalyst and chopped fibres on the mould surface. This is done with the aid of hand held spray gun. The spraying is carried out in typical pattern to create uniform thickness of the laminate. A roller is then used in order to make the fibre and resin material compact as well as create a smooth and even surface. The laminate is then cured in the oven. The part is then de-moulded and sent for finishing work. The process of spray lay-up is very economical, maximizes the use of low cost tooling as well as low cost material systems however it is not suitable for making parts that have high structure requirements, fibre volume fraction can be difficult to control as well as the thickness. The surface finish on both the sides is not same. Also dimensional tolerance is poor. Filament Winding: This is a process in which resin-impregnated fibres are pulled and wound over a rotating mandrel at desired angle. The fibre pulled is from a wet bath of resin. Curing occurs at room temperature or higher temperature. The performance is limited and it is difficult to obtain uniform fibre distribution and resin content through out the thickness of the laminate. The process is very suitable for tubular parts such as pressure vessels. Figure Filament Winding Process [https://www.thaicomposites.com/images/filament-winding.gif] The advantages of this process being its ability to utilize low cost raw material and low cost tooling systems. It can be automated for the production of high volume composite parts. The figure 4 gives an indication of the filament winding process. Pultrusion: As the name suggests, it is a process which will have pulling and extrusion (cutting). In this process resin impregnated fibres are pulled through to make a part. Saturated material is pulled through a heated closed die and cured while continuously moving through the die. The figure 5 gives an indication of the process. Figure Pultrusion process [https://www.ultrafiberglass.com/pultrusion%20process.jpg] The advantage of pultrusion process is that it is a continuous process and can be completely automated to get the finished product. The process is suitable for making high volume composite parts. Utilizes low cost fibre and resin systems thus provide a low production cost of products. The limitations being that the thin wall parts, tapered and complex parts cannot be produced. Resin Transfer Moulding A resin and catalyst are placed in two separate tanks A and B. A release agent such as gel coat is then applied to mould for good surface finish. The preform is placed inside the mould and the mould is then clamped. The mould is then heated to a specified temperature. Mixed Resin is then injected at selected temperature and pressure. Vacuum is also created to remove air bubbles as well as assist in resin flow. The injection continues until the mould is completely filled. The vacuum is turned off. The pressure inside the mould is increased to ensure that remaining porosity is collapsed. After curing for certain period of time depending on resin, the composite part is removed from mould. In this process, fabrics are placed in to a mould and then wet resin is injected. Resin is pressurized and is then forced into the cavity which is under vacuum. In the VARTM process resin is completely pulled in to cavity under vacuum. This moulding process allows precise tolerance and detailed shaping, however this may result in at times failure to fully saturate fabric leading to weak shape in the final product. The figure and steps following the figure describe the process. Figure Resin Transfer Moulding [https://www.ctihuatai.com/index.files/rtmstatic.gif] Strengthening of Structures The next stage of literature review will now focus on the strengthening of structures. As explained earlier the need for strengthening of structures; it is important to look at first the different methods adopted in order to strengthen the structure. The structure strengthening methods include the following. Span Shortening Pre-stressed Concrete Section Enlargement Structure Strengthening using FRP Composites. Span Shortening This is method in which length of a beam is shortening. This is achieved by installing additional supports underneath the existing members. Materials used in this process are mainly structural steel members and cast in place reinforced concrete members. The members are connected mechanically using bolts and adhesive anchors. Span shortening reduces the deflection in the beam. This can be proved by means of simple calculation. P1ÃŽÂ ´1 Let us consider a beam of length à ¢Ã¢â€š ¬Ã…“L (m)à ¢Ã¢â€š ¬? under a load P kN undergoing a 3 point bend test. l1 Where ÃŽÂ ´ is the deflection in the beam. Let us consider a pair of equations in order to calculate deflection in the beam. ; If ratio of the deflection is taken in to account, and doubling the span length meaning l2 = 2l1. Then, Then ÃŽÂ ´2 = 8 x ÃŽÂ ´1; this means that central deflection will become 8 times. So to conclude the method shorter the span, less deflection will occur at the centre. Pre stressed Concrete Pre stressed concrete is a method used for overcoming concreteà ¢Ã¢â€š ¬Ã¢â€ž ¢s natural weakness in tension. Pre-stressing tendons generally made of high tensile steel rods are used to provide clamping load that generates compressive stresses which balances out the tensile stress that would be experienced by the concrete beams due to bending [7]. The process of pre stressing can be achieved in three ways: pre tensioned concrete, bonded or un-bonded post-tensioned concrete. However the method is mainly used for civil engineering and construction projects. The figure below gives an indication of the method. Figure Pre Stressing Method [https://www.fhwa.dot.gov/BRIDGE/pt/images/pt102.gif] Section Enlargement In simple terms, it is when the second moment of area is changed. The method involves placing an additional bonded reinforcement concrete to an existing structure member in the form of an overlay or a jacket. The main advantage of this technique is that it increases the load bearing capacity or stiffness. The technique reduces bending and shear forces on overstressed beams. Structure Strengthening using FRP Composites Fibre reinforced polymers are applied to strengthen structure. There method can be primarily divided in to two categories. One is the strengthening of structure at manufacturing phase and other is after manufacturing. The technique used to strengthen structure at manufacturing phase is known as Near Surface Mounted Reinforcement (NSMR) and the strengthening of structure can be achieved once the manufacturing is completed is by external plate bonding method. Near Surface Mounted Reinforcement Near surface mounted reinforcement is one of the latest and most promising techniques to be considered when strengthening concrete structures. Using FRP instead of steel in this technique has many advantages such as its better resistance to corrosion, quick and easy installation due to light weight. When compared with external bonding method, the NSMR has many advantages such as amount of site installation work is reduced for example removal of plaster, etc. second advantage being that NSMR is less prone to de-bonding from concrete substrate. NSMR bars can be easily anchored into adjacent members to prevent failures due to de-bonding. This feature is very important when considering flexural strengthening. NSMR bars can be easily pre-stressed. As the bars are covered by cover of concrete, so they are less exposed to accidental impact or mechanical damage such as fire or wear and tear. As the NSMR technique is new, the knowledge on this technique is limited than that of externally bonded reinforcement. In recent studies CFRP (carbon fibre reinforced polymer) NSM reinforcements have been widely used to strengthen structures. The following general steps must be performed during the strengthening. Sawing up slots in concrete cover, depth of the structure is dependent on the product used. After sawing of slots, careful cleaning is required. If using an epoxy system, the slots where the bars are to be installed must be dry before bonding. If cement system is used then the surface must be wet. Adhesive is applied in the slot when using epoxy system or cement mortar is used when using cement system. The figure below gives an indication of the technique. Figure Near Surface mounted Reinforcement technique [https://msw.mcmaster.ca/~koranyy/Photos/NSM-vertical.jpg] In the above figure it can be seen that a carbon fibre rope is placed in the centre of the brick wall and an epoxy paste is applied. The figure on the left is for vertical reinforcement and the figure on the right is for horizontal reinforcement. The second part of the images is the finished version of structure once the method is completed. The application of this technique is mainly on flat surfaces and is suitable for strengthening in bending. The process is also helpful in increasing the shear capacity of the beams. The next method considered for structure strengthening using FRP composites is external plate bonding. However it is first important to compare the advantage of using composites over steel plates. These are explained in the next segment of the report. External Plate Bonding The general principle of external plate bonding method is that in this method transfer of stresses takes place from the structural element to the additional plates that are adhered or bolted. Whilst strengthening structure many problems are faced such as. Load Increases: Structure with externally bonded plates has capacity to accept higher live loads for example in factories where heavy machines are installed. External plate bonding also reduces deformation and is also helpful where vibrations are an issue. Damage to Structural Parts: it can be utilized in cases where the building has been damaged due to fire or vehicle collision. Improvement in suitability: This can be achieved by limiting deflection and reducing crack widths and stresses. Modification of Structural System: Plate bonding provides a cost effective solution where structure has been weakened by removal of walls and columns or opening cuts. Errors in planning or construction: Plate bonding provides solution to earlier design errors and calculation errors. In general terms external plate bonding can reduce deflection thus limit cracking as well as increase the load bearing capacity and also increase the flexural strength and finally improve resistance to shear in certain cases. As the method of plate bonding can be achieved by both using Composites as well as steel plates so it is important to understand the advantage of composite over steel plates. This analysis will be carried on three grounds namely technical, practical/application and Economic. The table on the next page summarizes the technical differences between the composite and steel plates Composite Steel Plates High tensile strength of Carbon fibre (5650N/mm2) Tensile strength of steel is (235 N/mm2) No corrosion Highly prone to corrosion Strength to weight ratio is higher Strength to weight ratio is lower Table Technical differences between Composite and Steel Plates When performing practical application on site; installation of steel plates requires an extensive amount of work such as drilling holes in plates, wrapping plates and bolting the plates. Where as the composite plates would require very limited work such as bonding to the metal plate using an epoxy. Table 2 summarizes the economic differences Potential Cost Composite Steel Plates High Low Volume Typically 10-50% of steel Relatively high Adhesive smaller area of plates required so less adhesive Area of plates is high so higher amount of adhesive Preparation Off site On site Limited Limited Extensive Extensive Labour Requirement Low High Equipment Low High Temporary support None Yes Time Fast Slow Table Economic Differences between Composite and steel plates The application of the plates externally can be varying such as if the surface is horizontal than FRP is applied horizontally or in the U shape. If the structure is a circular column then FRP is applied by wrapping around it. Wrapping sheets have fabrics in same direction or bi-directional. One thing to be considered when using FRP is that it needs to be protected from fire. An FRP plate applied to the bottom of structure (tension face) increases the strength of beam and reduces deflection. Where as application of FRP strips attached in U shape around the sides and bottom of beam increases shear resistance. Wrapping of sheets around column results in higher strength and restrains lateral expansion of columns. The figures below give an example of application of FRP composite to structure. (A) (B) (C) Figure Strengthening using FRP Composites [https://sites.google.com/site/frpstrengthening/frpdrawing2-custom-size-398-103.jpg] [https://www.structural.net/Article_Images/Figure%204.JPG] Figure A and B look at plate bonding and figure C gives an indication of wrapping columns. Discussion The project is currently in its research phase. The topics covered in the literature review section of the report are vital as it is important to gain knowledge about the subject and understand its applications in the real engineering world. The future work in the project will involve an additional literature review for structural strengthening and the next stage will be to set up a meeting with the supervisor to discuss the experiment as to what needs to be performed. Once this is completed the project plan will be reviewed to meet the final submission date of the thesis as mentioned earlier in the deliverables section. To conclude the test to be carried out for this purpose will be a 3 point bend test and 4 point bend test and thus the results will be concluded. Bibliography Dag Linghoff (2009), Thin Walled Structures, Carbon-fibre Composites for strengthening steel structures, volume 47 pages 1048-1058. U.Meier (1995), Construction and Building Materials, Strengthening of structures using carbon fibre epoxy composites, volume 9 issue 6 pages 341-351. A.R.Rahai and M.M.Alinia (2008), Construction and Building Materials, Performance Evaluation and Strengthening of concrete structures with composite bracing members, volume 22 issue 10 pages 2100-2110 J.G.Broughton (1997), International Journal of Adhesion and Adhesives, Carbon fibre reinforced plastic(CFRP) strengthening of aluminium extrusions volume 17 issue 3 pages 269-278 Osman Hag Elsafi (2001), Composite Structures, Application of FRP laminates for strengthening of reinforced concrete T-beam bridge structure, volume 52 issue 3-4 pages 453-466 R El-Hacha (2001), Progress in Structural Engineering and Materials, Pre-stressed fibre reinforced polymer laminates for strengthening structures volume 3 issue 2 pages 111-121 [Internet] available at https://onlinelibrary.wiley.com/doi/10.1002/pse.76/abstract accessed on 22nd November 2010. C.Soutis (2005), Progress in Aerospace Sciences, Fibre reinforced composites in aircraft construction, volume 41 pages 143-151. Kris Brosens, Omar Ahmed, Dionys Van Gemert, Strengthening of Concrete structure with externally bonded reinforcement, [internet] available at www.kuleuven.be/bwk/materials/Publications//KB-IC002-Hawaii-2001 accessed on 22nd November 2010. Bjorn Taljsten, (2003) Construction and Building Materials, Strengthening concrete beams for shear with CFRP sheets volume 17pages 15-26. Mark Shaw, Structural Strengthening with External Plate Bonding [Internet] available at www.bath.ac.uk/cwct/cladding_org/icbest97/paper24.pdf accessed on 19 November 2010 L. De Lorenzis and J.G.Teng (2007) Composites Part B: Engineering, Near Surface Mounted FRP Reinforcement: An emerging technique for strengthening structures volume 38 pages 119-143 [Internet] available at www.sciencedirect.com accessed on 19 November 2010. Mr H.Nordin, Prof B. Taljsten and Tech Lic.A.Carolin, Department of Civil Engineering, Lulea University of Technology, CFRP Near Surface Mounted Reinforcement for pre-stressing concretes available at https://www.quakewrap.com/frp%20papers/CFRP-Near-Surface-Mounted-Reinforcement-(NSMR)-For-Pre-Stressing-Concrete-Beams.pdf accessed on 19 November 2010.

Financial Ratio Analysis - Harrys Hamster Limited - Free Essay Example

Sample details Pages: 8 Words: 2334 Downloads: 9 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? Financial statements are useful as they can be used to predict future indicators for a firm using the financial ratio analysis. From an investors perspective financial statement analysis aims at predicting the future profitability and viability of a company, while from the managements point of view the ratio analysis is important as it helps anticipate the future conditions in which the firm should expect to operate and facilitates strategic decision making (Brigham and Houston 2007, p. 77). Profitability analysis Harrys Hamsters Limited (HHL) experienced growth in its profitability from 2007 to 2008; however, the net income reduced significantly during 2009. The return on equity (ROE) was 4.24 percent in 2007, increased to 14.68 percent in 2008 and decreased back to 5.10 percent in 2010. Similarly, the return on assets (ROA) also initially increased and later declined in 2009; the decline was sharper compared to the decline in ROE as the ROA in 2009 of 1.73 percent is lower than 2.08 percent in 2007. The ROE comprises of two main components: the return on net operating assets (RNOA) and the return on debt (ROD). RNOA for HHL has also deteriorated during 2008 decreasing from 16.61 percent in 2008 to 5.08 percent in 2009. The RNOA is used to weigh the overall performance of the HHL management. The ROD component of the ROE has also deteriorated from 13.68 percent in 2008 to negative 3.32 percent in 2009 (Kemsley 2009, pp. 12-16). The ROCE was the highest in 2008 estimated 11.39 percent. It im plies that the capital employed by HHL yielded high returns before the expansion period and that the company was significantly profitable. A considerable decline in 2009 to 4.82 percent can be unfavourable for the investors; however, as the company has not sold its shares to the public a reduction in this ratio for a temporary period is not a major concern for the current owners. The operating profit margins for HHL initially increased from 10 percent in 2007 to 17.45 percent in 2008; however, the company reported lowered margins of 8.53 percent in 2009. The decline in the operating profit margins of HHL is largely attributed to the increase in costs associated with the expansion of the business. The operating margins are expected to recover over the next year assuming that the new operations will become profitable as sales increase. The cost of goods sold have increased in absolute terms but the overall gross profit margins for the company have improved from 35 percent in 2007 to 42.01 percent in 2009. This implies that the company is effectively managing its relations with suppliers and has kept a control over the costs attached to buying the hamsters for breeding; but the operating costs have increased due to the low sales activity in the new operations. Don’t waste time! Our writers will create an original "Financial Ratio Analysis Harrys Hamster Limited" essay for you Create order Liquidity analysis The current ratio of HHL remains above the minimum threshold of one and is currently 1.22; historically, the ratio has remained between 2.73 and 3.25 times. However, the quick ratio for the company reveals serious concerns as it has decreased from 1.67 in 2008 to 0.22 in 2009. The low quick ratio implies that a considerable portion of the current assets of the company are tied up as part of its inventory (Bragg 2007, pp. 14-16). This could also mean that HHL might be unable to sell the hamsters and sales might be suffering. The company must increase its working capital to meet its near term current liabilities and retain its solvency (Brigham and Houston 2007, pp. 42). Efficiency analysis The firms efficiency has not necessarily decreased during the last year; an analysis of the efficiency ratios suggests a trend that is different from what is seen through the profitability and liquidity ratios. The inventory turnover has slightly deteriorated from 3.00 in 2007 to 2.89 in 2009; similarly impacting the days inventory on hand from 121.67 to 126.35 during the same period. The long inventory holding period suggests that the company needs to improve its liquidity position to maintain its efficiency and aim to reduce its inventory turnover significantly (Brigham and Ehrhardt 2008, pp. 57-62). The days of accounts receivables have reduced from 45.63 in 2007 to 40.05 in 2009 and at the same time the days of accounts payables have reduced even more drastically from 40.56 to 28.08. The operating asset turnover for HHL has deteriorated considerably from 0.87 in 2007 to 0.60 in 2009, owing to a long inventory holding period and a quick payment of the accounts payables. Capital structure analysis The capital structure has significantly changed over the past two years as HHL has increased its financial leverage and is using a considerable debt to finance its expansion activities. The debt ratio of the firm has increase from 0.47 in 2007 to 0.60 in 2009; imply that HHL is now funding 60 percent of its assets through debt (Berry 2006, pp. 68-71). The interest coverage ratio of the company had improved considerably in 2008 and was 4.29, but it has deteriorated to 1.89 raising additional concerns for the banks. The ROD for the company has reduced considerably but remains positive implying that the current level of financial leverage is generating additional returns for the company. Operating cash flows (OCFs) for the company remain negative being typical of young firms experiencing a high growth rate, but the ability of HHL to raise additional financing is limited; therefore negative OCFs raise serious concerns for the bank management. Report to credit committee Analysis for reasons of results HHL avails a long-term debt facility of  £ 0.45 million and has also utilised an overdraft of about  £ 35,000 from its current facility. The company performed exceptionally well during 2008, which led to an increase in its debt facility from  £ 0.275 million to  £ 0.45 million recently. The recent financial results revealed a tightening credit position of the company during 2009, which led to concerns regarding the excess usage of the overdraft facility by the company. Recent communication with the company reveals that it is facing liquidity problems due to its ambitious expansion program; however, the problem can be solved depending on the ability of the management to realise the seriousness of the situation (Madura 2006, pp. 17-32). The company is running an overdraft without any immediate plans regarding its understanding to pay back the short-term loan. The overdraft is being utilised to fund the working capital needs of the company, which it did not anticipate during its expansion into southern England. The success or failure of the new operations is yet to be seen and the position will only be clear by next year. The current assets are largely financing the inventory requirements of the company, while the inventory cycles are long and not in a position to be liquidated on urgent need. The company needs to introduce additional capital in order to solve its working capital problems. The working capital position of HHL can also improve by increasing the days of accounts payable ratio to higher levels or by reducing the inventory cycle if possible (Myers 1984, pp. 126-128). However, both options seem unlikely leading us to prescribe alternative solutions. The company has seen deterioration in the profitability ratios, which has reduced its ability to pay the interest commitments on the outstanding loan. However, the company still maintains an interest coverage ratio of 1.89 and should be able to regain its position once the new operations become p rofitable. The efficiency ratios of the firm have remained relatively stable with a slight decrease in the inventory turnover, an improvement in the accounts receivables turnover and a significant drop in the operating assets turnover. The company maintains a high debt ratio and about 60 percent of its assets are funded using debt; however, this is typical of most firms under the initial expansion phase. The company remains committed to making profits but has not considered rising outside capital by going public in the near future; the only way to maintain its current pace of growth will be either through an injection of personal equity or through the offering of company stock to the public (Ronen and Yaari 2007). The owners have invested most of their life savings into the business and the company cannot possibly raise any further internal financing. Recommendations regarding bank arrangements The credit committee is recommended to raise concerns regarding the current liquidity position of the company and to prepare a schedule for the repayment of the overdraft amount over the next six months. The company is expected to recover from the current situation during the next year, but it is important to remain cautious until the sales position appears to improve. Also developing a degree of pressure on the management should clearly communicate the banks position to the firm (Gibson 2009, pp. 212-216). The intention is to educate the company management about the gravity of this situation and ensuring that it is able to recover smoothly from the liquidity crunch, while at the same time minimising the banks exposure to the business risk HHL is facing. The Managing Director of HHL is consistent in maintaining regular contact with the bank; therefore we need to educate him with the possible solutions for recovering from the credit crunch faced by the company. The recommended solu tions include a consolidation of the business before considering any further expansion projects, a reduction in the days inventory on hand, increase in the days accounts payables, the retention of profits into the business allowing for no dividend payments over the next quarters, an injection of equity from any other sources available, an increase in collateral to support the banks claims and a phasing out of the bank overdraft over the next six months as revenues from the sales are realised (Harvard Business School 2006, pp. 3-12). Recommendations to management about improving finances of the company Mr. Michael, Thanks for a quick response pertaining to the overdraft issue. We have analysed the situation faced by HHL based on the recent financial statements and the qualitative information that we received during our recent correspondence. It is understood that your company has recently gone a major expansion and the short-term impacts are apparent on the financial results in terms of lowered profitability as anticipated. The concern raised by the bank is not directly related to the profitability of your company and we remain concerned about the liquidity position of HHL in months to follow (Bissessur 2008, pp. 142-146). The understanding between the bank and the company was that the expansion will be fully funded by the increase in the loan facility. This increase in loan was to support both the fixed investment in the expansion project as well as the working capital needs of HHL. However, as it is seen the actual expansion investment has exceeded the anticipated amounts and the company is facing a severe liquidity crunch that needs to be resolved. The credit committee is concerned regarding the profitability of the expansion project and is not prepared to enhance the overdraft limit until the latest results for the company become available. HHL would have to independently solve this liquidity crunch by either an injection of equity to facilitate the increased working capital requirements or to raise additional external capital. The intention of the company to continue towards is expansion projects can be best facilitated through a public listing of the company to raise additional capital (Hill and Jones 2009, pp. 28-29). The bank would require the company to pay the entire overdraft drawn in instalments over the next six months. This payment schedule has been drafted after a careful consideration of the credit history of your firm with the bank; in usual circumstances we would have required the repayment of the whole overdraft instantly. Moreover, i t must be understood that this correction is in the best interest of your company as it serves to facilitate your understanding of the gravity of the situation faced by HHL. A large proportion of the current assets held by HHL are tied up in the inventory and the company has no cash reserves available to pay for the maturing current liabilities including the banks interest payments. It is important to understand that the company would have filed for bankruptcy if the current overdraft was not available. Therefore, it is a very serious concern which should be resolved as soon as possible (Capon 1990, p. 1145). The company can adopt some emergency measures to immediately improve its cash position, including a maximum delay in the payment to creditors that might be possible without significantly harming the supplier relations, a quicker recovery of accounts receivables without significantly harming the sales position and an immediate sale of ready inventory on a cash payment discount (David 2006; Ebert and Griffin 2005). Moreover, the company must not withdraw any retained earnings in the form of dividends until the liquidity position is resolved. Waiting for your response, Nick Cameron Bibliography Berry, A., (2006). Accounting in a business context. Brighton: Cencage Learning. Bissessur, S., (2008). Earnings quality and earnings management: The role of accounting accruals. Rosenberg Publishers. Bragg, S., (2007). Business Ratios and Formulas: A comprehensive Guide. New Jersey: John Wiley and Sons. Brigham, E., and Houston, J., (2007). Fundamentals of Financial Management. Mason: Thomson Publishing Limited. Brigham, E., and Ehrhardt, M., (2008). Financial management: Theory and practice. Mason: Thomson Higher Education. Capon, N et al., (1990). Determinants of financial performance: A Meta Analysis. Journal of Management and Sciences, Vol. 36 (10), pp. 1143-1159. David, F., (2006). Strategic management: concepts and cases, 10th ed. Hong Kong: Pearson education. Dominguez, K., (2006). Exchange rate exposure. Journal of International Economics, 68 (1), pp. 188-218. Ebert, R., and Griffin, R., (2005). Business Essentials. Prentice Hall. Finnerty, J., (2007). Project fin ancing: Asset based financial engineering. New Jersey: John Wiley and Sons Publishing. Kemsley, D., (2009). Financial Accounting Seminar: Practical Equity and Credit Analysis. New Orleans: Tulane University. Kumar, K., and Dissel, V., (1996). Sustainable collaboration: Managing conflict and cooperation in systems. Journal of Information Management, 20 (3), pp. 279-300. Gibson, C., (2009). Financial Reporting and Analysis: Using Financial Accounting Information. Mason: Cencage Learning. Harvard Business School., (2006). Essentials of strategy. Boston: Harvard Business School Press. Helfert, E., (2001). Financial Analysis: Tools and techniques, a guide to managers. New York: McGraw Hills. Hill, C., and Jones, G., (2009). Strategic management theory: an integral approach. Mason: Cencage learning. Madura, J., (2006). Introduction to business. Mason: Thomson publishing. McDonald, B., and Morris, M., (1984). The statistical validity of the ratio method in financial analysis: An em pirical examination. Journal of Business Finance and Accounting, 11 (1), pp. 89-104. Myers, S., (1984). Finance theory and finance strategy. Interfaces, 14 (1), pp. 126-137. Ronen, J., and Yaari, V., (2007). Earnings Management: Emerging insights, in theory, practice and research. New York: Springer Publishers.

Inequality and Constitution - 2635 Words

Liberty, as defined by the Oxford dictionary, is explained as the condition of being free from restriction or control; the right and power to act, believe or express oneself in a manner of one s own choosing. Liberty is a word familiar to most Americans, since the fundamentals of the country is based on freedom and independence. Symbolism of liberty (such as the national s flag, statue of liberty, the liberty bell, Uncle Sam, the bald eagle) can be seen throughout the United States as a reminder of the freedom in which this nation has achieved for over the past two hundred years. Perhaps one of the greatest achievement of liberty by the Americans in the past two hundred years has been the founding of the United States Constitution.†¦show more content†¦First, let s examine the contents of the United States Constitution. The opening line of the constitution states as follows, We the people of the United States, in order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defense, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America. This simple introduction to the constitution holds many proposition of the union; it claims that the states are joined together in unity and that no, one state is independent from another. It is true that the beginning line already brings the nation together as one, but by saying We the people it is empowering the people of the United States as a source of power for ruling, not the authorities of the state. However, the people of the United States had no say in many aspects of politics in the past and even in the present day. A perfect example can be seen in the Gore/Bush election, where Gore had the majority of the people s vote for presidency, but through discrimination, corruption, and internal affairs, Bush proceeded to be President. Another contradictio n in that opening statement is ...establish Justice, insure domestic Tranquility, provide for the common defense, promote the general welfare, and secure the blessing of LIBERTY to ourselves and our Posterity...Show MoreRelated Inequality and Constitution Essay2599 Words   |  11 Pagestwo hundred years has been the founding of the United States Constitution. Not only does the constitution deal with the distribution of government powers, but it proclaims the freedom of all individuals, abolishing slavery. Although freedom is technically set to the slaves by the constitution, but it did not fully fulfilled the description of â€Å"liberty† for the slaves. 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This particular policy issue is rather difficult to give insight on because income inequality is widespread and immense, yet most of Washington and mainstream America will not address this critical matter in question that is happening all over the country. Beliefs are blinding the majority of America when it comes to how money is distributed throughout the social classes and minoritiesRead MoreJames Madison s Federalist Paper1269 Words   |  6 Pagesqualification of judges, thus leading to a weak judicial branch. Judges should be free of political pressures in order to balance out with the president and the senate and vice versa. He suggests a control in the individual powers through the constitution to avoid inequality. This would assure an avoidance in the abuse of power by men from either branch. Madison goes on to say in a democracy ruled by the people it is important to protect ourselves from injustice which may be caused by any particular group

Information System for Headspace Organization-Samples for Students

Question: Discuss about the the Innovative Idea of storing the patients stories in a Modern Integrated Information System. Answer: Introduction An organization, named Headspace, treats various young patients with mental issues and problems in the New South Wales. This report outlines the innovative idea of storing the patients stories in a modern integrated information system during the first time they are being explained by the patients (Lee Yu, 2012). This information system will be beneficial for the psychologists, doctors and the psychiatrists, as they do not have to disturb the patients by asking about their problems repeatedly. Problem Headspace is a recognized organization, which works with youth generation aged twelve to twenty-five, who experience mental illness and ill health. Anxiety and depression are the most common mental health problems, although there are many other mental illnesses as well. Youth suicide in indigenous New South Wales for the age group of sixteen to twenty four has been particularly disturbing and alarming, especially amongst the local and indigenous youth. One of the major problems recognized was that a young person of age group of sixteen to twenty five with a mental illness and problem needs special attention from multiple professionals. Every time these patients need to tell their problems again. The young people discussed little and even stopped talking about their problem. This makes it harder for the professionals to help them for their problems (Bajdor, Grabara, 2014). Initially, a social worker of Headspace, then the medical staff in a hospital, maybe a psychologist, a psychiatr ist, and a general practitioner sees them.Currently, funds are raised to form a system that will record the patients story in the first time. This will provide authority to the specific professionals, so that the case studies and their story can improve, and the young patient can be facilitated appropriately and more precisely (Laudon et al., 2012). The funding has been approved for the new information system and the business systems analyst of this project has to find the scope out of the project. Capabilities Headspace is an organization, which treats patients with mental ill health. The patients are of age group between sixteen to twenty four. These patients do not remain in the state of mind to tell their problems repeatedly. This becomes very hard for the doctors and psychiatrists to understand their problems. At one time, they completely stop discussing their problems and do not even want to talk about them (Demir Krajewski, 2013). Recently, the funding is sponsored for a new up graded system that will record the stories of the patients, the first time they are being told. Information system is an integrated system that stores, collects, organizes and filters information. It is extremely beneficial for any organization, especially for cases like Headspace, where listening to patients illness repeatedly is a major problem. Benefits The implementation of an integrated information system is highly needed and beneficial for the Headspace organization. This information system helps to store, collect, communicate and organize information with utmost ease (Yucel, 2012). This is extremely easy to implement and cost effective. The integrated information system will store all the information regarding the patients and their health problems, so this new information system is very helpful for the Headspace organization. Conclusion Therefore, from the above report it can be concluded that, the new information system is needed and important for Headspace organization, which treats patients of youth generation with mental illness and mental health issues. This information system will store their story in the system, when they are told for the first time. References Bajdor, P., Grabara, I. (2014). The Role of Information System Flows in Fulfilling Customers Individual Orders.Journal of Studies in Social Sciences,7(2). Demir, I., Krajewski, W. F. (2013). Towards an integrated flood information system: centralized data access, analysis, and visualization.Environmental Modelling Software,50, 77-84. Laudon, K. C., Laudon, J. P., Brabston, M. E., Chaney, M., Hawkins, L., Gaskin, S. (2012). Management Information Systems: Managing the Digital Firm, Seventh Canadian Edition (7th. Pearson. Lee, S. K., Yu, J. H. (2012). Success model of project management information system in construction.Automation in construction,25, 82-93. Yucel, G., Cebi, S., Hoege, B., Ozok, A. F. (2012). A fuzzy risk assessment model for hospital information system implementation.Expert Systems with Applications,39(1), 1211-1218.