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08.07.2020 (771 Clicks)

Metso Outotec Technology chosen to help increase Grinding Capacity of Boliden Harjavalta’s Slag Concentrator

Boliden Harjavalta has chosen Metso Outotec’s SMD grinding mills to improve the capacity of its slag concentrator.

07.07.2020 (678 Clicks)

Webuild’s Mobilinx Consortium wins Award for Hurontario Project in Canada

Webuild, formerly Salini Impregilo, and its partners in the Mobilinx consortium have won the “Proximo North America Rail Deal of the Year 2019” for the most innovative project financing transaction in the case of the €917-million (about CAN$1.3-billion) construction of Metrolinx’s Hurontario light rail transit line near Toronto, Canada. Astaldi, which is becoming part of Webuild under Progetto Italia (Project Italy) to consolidate Italy’s fragmented construction sector, was part of the consortium when the project was awarded in October 2019.

07.07.2020 (685 Clicks)

Despite Disruptions during Q1, global Coal Production is expected to reach 8.13Bnt in 2020 according to GlobalData

Despite disruptions during Q1 2020, global coal production is expected to grow, albeit by a marginal 0.1% to 8.13 billion tonnes (Bnt) in 2020, says GlobalData, a leading data and analytics company.

06.07.2020 (730 Clicks)

Kick-off for further Design Services for the Swiss Belchen Road Tunnel

The Swiss Belchen road tunnel was opened in 1970 and consists of two separate twin-lane tubes with unidirectional traffic, each having a length of 3.2 km. In early 2021, with the so-called rehabilitation tunnel going into operation, the Belchen tunnel system will comprise three twin-lane tunnels. ILF Consulting Engineers is also involved in the design and construction of the rehabilitation tunnel.

06.07.2020 (756 Clicks)

Intergeo 2020: 100 percent digital with a real Network Atmosphere

2020 is the year of the unexpected, of surprises and the occurrence of events nobody thought possible. Worldwide we are required to deal with this challenge, to understand it and learn from it. Personal contact is currently reduced to a minimum. Through these experiences, we are reminded of how important and irreplaceable it is to be able to face each other and look each other in the eyes. This is what dialogue engaged at eye level and personal interaction are all about, as has been possible at INntergeo Expo and Conference for the past 25 years.

03.07.2020 (670 Clicks)

Resource Exports keep Queensland Earning Overseas amid Covid-19 Fallout

International trade in Queensland’s resources has stayed consistent with an 80 percent contribution to the total value of the State’s exports of $79.9 billion in the 12 months to May 2020, according to Queensland Treasury’s analysis of Australian Bureau of Statistics data.

03.07.2020 (662 Clicks)

Fugro’s Subsea Engineering Solutions Key to Ireland’s Corrib Gas Field Integrity

Fugro has used the survey vessel Edda Sun to deliver an inspection, repair and maintenance (IRM) project for Corrib, Ireland’s biggest natural gas field, on behalf of Vermilion Exploration and Production Ireland Limited (Vermilion).

03.07.2020 (880 Clicks)

MiningForum 2021: Call for Papers

• MiningForum 2021 - For a sustainable Future
• 10 & 11 June 2021 in Berlin
• Call for Papers: Deadline 30 September 2020

02.07.2020 (583 Clicks)

BAM expects significant H1 Loss and announces to wind down BAM International

Trading update for the first half of 2020, including Covid-19 impact

The extraordinary circumstances caused by the Covid-19 crisis have a considerable impact on Royal BAM Group nv. In addition, the company’s performance in the first half year is impacted by continued losses at BAM International, the recently announced Cologne metro settlement and to a lesser extent by underperformance of the German construction and Dutch civil engineering business. Due to these developments, the company expects a first half year adjusted loss before tax of approximately €130 - €150 million. The Executive Committee has decided to start the process of winding down BAM International, active outside BAM’s European home markets, given the lack of a positive outlook.

Compared to the first quarter, BAM’s cash position further increased to approximately €1.2 billion. Also based on a strong order book, the results over the full year are expected to improve compared to the first half of 2020.

Frans den Houter, CFO / interim CEO, said: ‘It is clear that Covid-19 is causing unprecedented challenges for society and our industry. As a first priority, we have taken measures to safeguard a healthy and safe working environment for our people and others involved. Our various markets have been impacted very differently by Covid-19. Some were shut down completely, while others remained open. We lost approximately 35 per cent operational efficiency through the first two months of the crisis and are now getting back to 80 per cent. In the first quarter, we reported that the results of Dutch civil engineering and German construction, and of BAM International were disappointing. The combination of Covid-19 and the ongoing underperformance of BAM International in the second quarter, has led to a severe impact on profitability. We will immediately start the process of winding down BAM International, which was already under strategic review. This is harsh for the employees involved, however it is necessary and cannot be delayed. It is good to see that other businesses continue to perform satisfactorily under difficult market circumstances, especially our Dutch construction and property activities and BAM PPP. Our order book remains strong. The intended wind down of BAM International and the Cologne metro settlement result in a significant improvement of our risk profile. Whilst governments are re-opening their societies and productivity is recovering, our focus remains on mitigating the Covid-19 impact, cash generation, cost reductions and resolving the performance issues. As management we have a full focus on implementing all necessary measures to protect and improve our operations. We continue to accelerate a number of strategic initiatives and to further build on our resilience and strong cash position.’

BAM International

The Executive Committee has started the process to wind down the activities of BAM International. This process requires satisfactory completion of discussions with BAM’s works councils and the consultation of involved trade unions. BAM International will deliver the current order backlog in line with client expectations and contractual obligations, but will not tender for new projects. BAM will retain the necessary staff to complete the current project portfolio.

Currently BAM International has approximately 600 staff on payroll and 12 active projects around the world. BAM International reported a substantial loss in 2019. Although the company structurally lowered its cost base and focused on near-shore projects with a more favourable risk/reward profile, the performance has failed to recover. The outlook for the oil and gas market remains poor. BAM International expects to report a loss of approximately €60 million for the first half of 2020.

First half-year figures and Covid-19

For the first half of the year, BAM expects to report an adjusted loss before tax of approximately €130 - €150 million. This relates to the impact of Covid-19, BAM International, the approximately €40 million costs related to the Cologne metro settlement as published on 30 June, and operational underperformance. The consequential non-cash impairments of goodwill and deferred tax assets are being assessed and will be reported on 20 August 2020.

At the end of June, BAM had a cash position of approximately €1.2 billion (Q1 2020: €944 million), including the fully drawn €400 million revolving credit facility. The positive cash development in the second quarter is predominantly the result of governmental support schemes (VAT) and the strong focus of management on preserving cash, whilst making sure that BAM’s vital supply chain receives the payment it is due.

Clearly, Covid-19 will also impact the second half of 2020. At the same time, BAM’s operational efficiency has increased to 80 per cent as per June and the order book is strong. BAM’s management is implementing tangible actions, including cost reductions and initiatives to improve the risk profile, with a strong focus on cash. The results for the full year, compared to the first half of 2020, are expected to improve.

Source: Royal BAM Group nv

                     

01.07.2020 (627 Clicks)

Fugro performs Monaco’s first O-cell Pile Tests for L’Anse du Portier Eco-Project

Fugro has completed an 11-month land site characterisation project for the Sogefon/Fondamenta joint venture as part of Monaco’s prestigious L’Anse du Portier (Portier Cove) land extension project.