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28.10.2020 (787 Clicks)

Pekka Vauramo to continue as President and CEO of Metso Outotec until the end of 2023

Pekka Vauramo will continue as the President and CEO of Metso Outotec until the end of 2023. “This is a unique opportunity to lead the integration of the two great companies into Metso Outotec and to develop Metso Outotec to become an industry leader. We are in the beginning of our integration journey and Metso Outotec has a lot of potential to increase the effectiveness of its operations and to serve its customers even better and in a more sustainable way,” says Pekka Vauramo. 

27.10.2020 (650 Clicks)

Implenia accelerates Strategy Implementation and sets new Targets after rigorous Risk assessments of Portfolio

• Implenia finalized strategy implementation reviews for all Divisions, including a re-evaluation of opportuni­ties and risks for all projects. This reinforced the need to sharpen and accelerate strategy execution 
• Implenia intends to concentrate its activities on core, solid-margin businesses. This will significantly imp­rove the Group’s risk profile, focusing on integrated construction and real estate services in Switzerland and Germany. Only Tunnelling and related infrastructure projects planned to be conducted also in other markets  
• As a consequence, Implenia needs to take unavoidable and painful measures such as Portfolio adjust­ments, restructuring including layoffs, as well as write-downs and rightsizing of businesses and functions    
• Restructuring is planned to affect up to 2,000 FTE by 2023, thereof ~750 layoffs, of which ~250 in Switzerland. The plan is to transfer ~1,250 FTE to new ownership. Implenia expects yearly savings of CHF >50 million and a ~20% reduction in its asset base by 2023, with restructuring costs amounting to CHF ~60 million 
• In the context of divisional strategy implementation reviews, rigorous risk assessments including re-evalua­tion of claims/litigations for all projects were conducted. This revealed the need for extraordinary write-downs of CHF ~200 million in 2020, for projects that all started before 2019, particularly in sub-unit Civil, and especially in Civil Sweden 
• Continued negative Covid-19 impact is anticipated at CHF ~50 million for FY 2020 from today’s perspective
• Reported EBITDA for 2020 is expected to be CHF ~ -70 million. In line with its asset-light strategy, Implenia will report future performance in EBIT. For 2021, EBIT of CHF >100 million (>3%) is expected, an equivalent of CHF >200 million EBITDA (~5.5%). Implenia is solidly financed to achieve these targets
• Board of Directors and Management are fully convinced Implenia is well positioned to become a strong and profitable company with substantially improved risk profile. Implenia is firmly on its way to realizing its vision of becoming a leading multinational integrated constructionand real estate services provider

Source: Implenia

                     

27.10.2020 (599 Clicks)

Sedgman wins Contract Extensions in QLD

Cimic Group’s minerals processing company, Sedgman, has been awarded two contract extensions by QCoal to continue to operate and maintain its Sonoma and Byerwen mines processing plants in Queensland.

26.10.2020 (646 Clicks)

NSK initiatives Combat counterfeit Bearing Manufacture

As a respected and coveted manufacturer of premium bearings, NSK has long been the victim of unscrupulous counterfeiters. Looking to cheat both the OEM and the user, those producing fake bearings will stop at little to deceive purchasers and boost the profitability of their illegal operations. However, NSK is fighting back with a range of measures that aims to nullify this corrupt practice.

26.10.2020 (576 Clicks)

Service 4.0 – on site, without being there

- BEUMER Group develops digital product for enhanced customer service: the BEUMER Smart Glasses

Machine malfunctions and standstills that are not eliminated as fast as possible may become expensive for manufacturing companies. BEUMER Group developed the BEUMER Smart Glasses as a pioneering product that supports users quickly and easily. The BEUMER Customer Support technicians use them to take a virtual look over the shoulder of the customer's service technician to solve the problem together. This digital solution reduces travel times and costs.

23.10.2020 (571 Clicks)

Metso Outotec and Boliden renew Service Contract for the Aitik Copper Mine in Sweden

Metso Outotec and Boliden have signed an extension of their service contract for Boliden’s Aitik copper mine in Gällivare, Northern Sweden.

22.10.2020 (617 Clicks)

Skanska signs Contract on Ground Works for Metro Station in Oslo, Norway

Skanska has signed a contract with the City of Oslo on ground works for a new metro station in Fornebu, just outside Oslo, Norway. The contract is worth NOK 497 M, about SEK 470 M, which will be included in the Nordic order bookings for the fourth quarter 2020.

22.10.2020 (767 Clicks)

Costain Part of Proving Hydrogen can be distributed via existing Gas Networks

Costain, the smart infrastructure solutions company, in collaboration with the gas networks, has produced a feasibility study that will contribute to the ongoing assessments of the ability to use the existing UK gas transmission and distribution networks to transport hydrogen. The project is the first to bring together all the gas distribution networks, working collaboratively to develop an innovative hydrogen solution that could be an answer to decarbonised energy for heat, transport, industry and power generation, helping the UK meets its target to be net zero carbon by 2050.

21.10.2020 (551 Clicks)

Industrial Minerals Association honors KaMin

KaMin is pleased to announce its Macon plant received the 2019 Safety Achievement Award for the Large Company Category at the annual meeting of the Industrial Minerals Association – North America.  The IMA-NA Safety Achievement Award recognizes the best reportable injury rate for an individual IMA-NA member company by size for the preceding calendar year. In 2019, KaMin employees worked 343,288 hours, with zero injuries for a total injury rate of 0.00 per 200,000 employee work-hours.

21.10.2020 (608 Clicks)

Epiroc wins large Mining Equipment Order in Russia

Epiroc has won a significant order from Norilsk Nickel for underground mining equipment that will strengthen safety while ensuring a highly efficient mine development.

Norilsk Nickel is one of the world’s largest producers of nickel, palladium, platinum and copper and has a high focus on automation and new technologies. The mining company has ordered Epiroc’s Boltec M and Cabletec M rigs for use in the Oktyabrskiy, Mayak and Komsomolskiy mines in Russia to reinforce the underground rock in the safest and most productive manner.