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20.05.2019 (3046 Clicks)

Fugro supports two Ocean Mapping Initiatives with large Crowd sourced bathymetry Contribution

Fugro recently contributed more than 110,000 square kilometres of high-resolution bathymetry data in the North Atlantic Ocean to help improve the quality and coverage of seabed mapping in the region.

18.05.2019 (3137 Clicks)

SMT Scharf continues on Growth Trend in Q1 2019

18.05.2019 (3204 Clicks)

bauma 2019: Successful Home Match for Rema Tip Top

Rema Tip Top draws a positive conclusion | Strong interest among visitors in trade fair and in-house exhibition | Megatrend digitalisation | “Industrial Solutions“ along the entire value chain

14.05.2019 (2816 Clicks)

SNC-Lavalin awarded Engineering Design Sub-contract for Scarborough Floating Production Unit in Australia

SNC-Lavalin (TSX:SNC) announced that it has signed two sub-contracts to support the development of the floating production unit on the proposed Scarborough gas field development project in Western Australia.

14.05.2019 (3048 Clicks)

ICE President visited North East Project Woodsmith Mine in the United Kingdom

Andrew Wyllie visited a polyhalite mine as part of his tour of the region. ICE President Andrew Wyllie has described the Sirius Minerals polyhalite mine as a “fantastic example of UK engineering at its best”.

14.05.2019 (3291 Clicks)

Salini Impregilo to build high-speed “Orient Express” Railway in Turkey

Salini Impregilo has won a €530-million contract to build a 153-kilometre section of a new “Orient Express” high-speed railway in Turkey between Istanbul and the border with Bulgaria.

14.05.2019 (2622 Clicks)

QRC welcomes Gold Mine Expansion in North Queensland

The Queensland Resources Council has welcomed the State Government's decision to grant Resolute Mining nine new mining leases as part of a $150 million project to extend the life of its Ravenswood gold mine operations in north Queensland.

11.05.2019 (2988 Clicks)

Thyssenkrupp announces fundamental strategic Realignment

After a conversation with the European Commission, Thyssenkrupp and Tata Steel expect that the planned joint venture of their European steel activities will not go ahead due to the Commission's continuing concerns.

The European Commission took the improvements of the submitted covenants proposed by Thyssenkrupp and Tata Steel as an opportunity to conduct another market test. The new market survey did not resolve the Commission's concerns, although the partners had offered significant further concessions.

From the point of the view of thyssenkrupp and Tata Steel, further commitments or improvements would adversely affect the intended synergies of the merger to such an extent that the economic logic of the joint venture would no longer be valid.

Consequently, the partners assume that the European Commission will not approve the joint venture.

With the expected unsuccessful outcome of the steel joint venture, the Executive Board of Thyssenkrupp AG has reassessed the strategic options for the company and will propose to the Supervisory Board to not go ahead with the planned separation into two independent companies.

The economic downturn and its effects on business development and the current capital market environment have led to the separation not being able to be realized as planned.

Instead, Thyssenkrupp will fundamentally realign itself to significantly improve its operating performance. This will include a value based more flexible portfolio approach with greater freedom for the development of all businesses, a leaner holding structure and a stronger performance orientation. At the same time, the company will sustainably strengthen its capital base in order to gain the necessary financial leeway for necessary restructuring and business development. As part of this new strategy, the Executive Board of Thyssenkrupp AG will also propose an IPO of Elevator Technology to the Supervisory Board.

Due to this development, expected book equity gains from the closing of the Steel Joint Venture will not materialize.

In the third quarter of the current fiscal year, thyssenkrupp will reintegrate the Steel Europe Business Area back into the Group. This will also lead to an adjustment of the forecast for the 2018/19 financial year. From today's perspective, the Group expects - including the Steel Division - an adjusted EBIT of €1.1 to 1.2 billion. The Group's free cash flow before M&A is expected to be negative in the high 3-digit million € range. The Group expects a net loss for the year. Thyssenkrupp will publish the adjusted Group forecast with the 2nd quarter report on May 14, 2019.

Thyssenkrupp Steel Europe AG is, among other companies, the subject of preliminary investigations into alleged cartel agreements for heavy plate and flat carbon steel. The proceedings in the field of flat carbon steel have been discontinued in the meantime. Due to far-advanced discussions with the Federal Cartel Office, Thyssenkrupp expects to be able to finalize the proceedings for heavy plate in a timely manner by mutual agreement.

In this forecast, the Group will also recognize an increase of the existing provisions by slightly more than € 100 million for the ongoing cartel proceedings regarding heavy plate. The provision is thus increased to the amount of the expected fine. The Group's free cash flow could be additionally impacted by a payment of this fine in this financial year.

Source: Thyssenkrupp

                     

10.05.2019 (3294 Clicks)

A14 Project Team begins Testing self-driving Trucks for first Time in England

Highways England has revealed that self-driving trucks are being tested on the UK’s biggest road upgrade, the A14 improvement scheme between Cambridge and Huntingdon, which is being delivered by a joint venture comprising Costain, Balfour Beatty and Skanska.

09.05.2019 (3486 Clicks)

Hochtief-AGM: Strong Profit and Dividend