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09.01.2020 (835 Clicks)

Hexagon acquires Blast Movement Technology

Acquisition of Blast Movement Technology (BMT) will enable Hexagon's mining customers to better tackle ore loss and dilution

07.01.2020 (858 Clicks)

Siemens utilises Fugro’s UXO Screening Technology in Herne, Germany

Fugro has completed an unexploded ordnance (UXO) screening project for Siemens AG at the site of a new gas-fired power station in Herne, Germany.

07.01.2020 (832 Clicks)

UK-based small Mining Project is 'Brexit-proof'

By developing technology innovation and rethinking business models, a new EU-funded project hopes to improve the commercial viability of mining modest but high-grade critical raw mineral deposits across Europe.
GlobalData's mining technology writer Heidi Vella looks at the project.

07.01.2020 (821 Clicks)

New General Manager for Boliden Rönnskär appointed

Linn Andersson appointed as General Manager for Boliden Rönnskär.

02.01.2020 (958 Clicks)

Ventia signs Agreement to purchase Broadspectrum

Infrastructure services company, Ventia, announced it has signed an agreement with Ferrovial S.A. to purchase Broadspectrum, subject to standard conditions and regulatory approvals.

02.01.2020 (1026 Clicks)

Bechtel opened Office in Al-Khobar, Saudi Arabia

The new office in Al-Khobar leverages Bechtel’s global expertise for Saudi Oil, Gas & Chemical projects

02.01.2020 (955 Clicks)

Appointments in Metso’s Executive Team

Giuseppe Campanelli has been appointed President, Minerals Services business area and a member of Metso’s Executive Team from January 2, 2020 onwards. Previously he has been a member of the Minerals Services business area management team heading Professional Services.

02.01.2020 (782 Clicks)

Anglo American receives Operating Licence for Minas-Rio Tailings Facility in Brazil

Anglo American announced that it has received the next phase of its operating licence for its Minas-Rio tailings facility in Brazil, following the work to raise the dam as part of the Step 3 licence area of the mine. The regulatory authorities in Brazil granted the installation licence for this work in January 2018 and the construction work was completed in accordance with that licence in August 2019.

30.12.2019 (798 Clicks)

Fugro becomes sole Shareholder of Seabed Geosolutions

Fugro has entered into an agreement to acquire CGG’s 40% shareholding in Seabed Geosolutions and to terminate the Seabed Geosolutions’ joint venture agreement effective December 30, 2019 in exchange for a cash consideration of USD 35 million, paid by CGG before year-end 2019. The proceeds will be used to lower Fugro’s outstanding debt position and strengthen Seabed Geosolutions’ balance sheet.

27.12.2019 (883 Clicks)

Datwyler to focus on fast-growing, high-margin Sealing Business

• Focus on the fast-growing, high-margin Sealing business.
• Divesting Distrelec and Nedis at a loss of some CHF 670 million with no impact on liquidity.
• Datwyler is evaluating value-optimising options for the sale of Reichelt.

In future, the Datwyler Group will focus on the fast-growing, high-margin Sealing business for attractive global markets and will divest the two distribution companies Distrelec and Nedis. Based on recognised core competencies, Datwyler has become a valued development partner for high-quality, system-critical sealing components in the Health Care and Automotive industries and beyond.

Divestment of Distrelec and Nedis

On 23 December 2019, the Datwyler Group signed a contract with German firm Aurelius for the sale of all entities of the daughter companies Distrelec and Nedis. As distributors of electronic components, Distrelec and Nedis generated sales of some CHF 300 million in 2018 with some 850 employees. The deal is due to be concluded in the first quarter of 2020 subject to the fulfilment of the usual conditions for completion. The parties have agreed not to disclose details of the transaction. Aurelius has many years of investment and management experience and owns several distribution companies. As an active investor with a long-term investment horizon, Aurelius specialises in spin-offs from international groups. For the sale of Reichelt, Datwyler takes the time to evaluate further options to optimise value.

Liquidity and assets largely unaffected by the divestment loss

The divestment of Distrelec and Nedis will result in a loss for the Datwyler Group of some CHF 670 million, which will have no impact on liquidity. This amount comprises mainly goodwill and the realisation of the cumulative currency translation differences of the foreign companies disposed of. At over 50%, the equity ratio will still be very solid after the transaction has been concluded. Datwyler therefore has excellent financial resources for implementing the growth strategy defined.

Source: Dätwyler