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SMT Scharf AG lowers Profit Forecast for 2014 – Sales Forecast remains unchanged

The SMT Scharf AG (WKN 575198, ISIN DE0005751986), technology and world market leader for captivated railway systems for underground mines, is lowering its profit forecast for the financial year 2014. The company now anticipates a consolidated result of approximately EUR -2 million (to date: break-even consolidated results). The sales forecast for the year 2014 remains unchanged at EUR 45 million.

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Radical Change required in Order to meet London’s Infrastructure Needs

A new report from the Greater London Authority (GLA) has today revealed the capital’s strategic infrastructure investment requirements to 2050.  

Working with expert help from Arup, the new report titled ‘London Infrastructure Plan 2050 – A Consultation’, examines seven sectors - from transport, waste and energy to open spaces and broadband - and spells out the infrastructure needs of London over the next thirty-five years to cope with a growing population.

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The Plan for Queensland

The Queensland Resources Council has welcomed the launch today by Premier Newman of a 30-year vision for the state. Chief Executive Michael Roche said the Queensland Plan was the product of an extensive consultation process to which the QRC and its members were proud to contribute.

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Veidekke buys Concrete Element Factory in Sweden

Veidekke Entreprenad AB has entered into an agreement to buy 70 % of the shares in the Swedish concrete element factory AB Recess in the town of Sala, north of Stockholm. 'The acquisition of shares in Recess is a significant investment for Veidekke in element construction in order to achieve higher efficiency and lower costs,' says Group CEO, Arne Giske.

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BAM expects Project Losses of approximately €75 Million

Based on the latest available information, Royal BAM Group nv expects project losses totalling approximately €75 million, due to:
- Deterioration of a large civil engineering project in Germany which is one of the handful of lossmaking projects reported last year. The problems are due to adverse ground conditions; technical solutions have been implemented to keep this project on schedule but these are more costly than anticipated.
- Unexpected problems at a mid-sized UK civil engineering project which was bid for in 2012. This is due to a combination of adverse ground conditions and bad weather.
BAM is now intensifying, accelerating and enlarging its programmes to improve the Group’s operational and financial performance:

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Great Barrier Reef - They wouldn’t have a Clue

Countries voicing concern about the impact of Queensland port developments on the Great Barrier Reef are mouthpieces for environmental activists that don’t have a clue about the local assessment process. That’s the frank assessment of the Queensland Resources Council’s Michael Roche, as Australia was given a 12-month reprieve from UNESCO, which has deferred a decision on whether to list the reef as ‘in danger’ until next year. Queensland’s environment minister Andrew Powell travelled to Doha, Qatar, last week to convince The United Nations’ world heritage committee the reef was being protected.

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Sandvik in strategic Cooperation with Zhuzhou Group

Sandvik AB ("Sandvik") signed a letter of intent with Zhuzhou Cemented Carbide Group Co., Ltd. ("Zhuzhou Group") to form a joint venture for strategic cooperation.

The Zhuzhou Group is the largest domestic manufacturer in China of cemented carbide and its compatible tools. It also offers smelting services for tungsten, molybdenum, tantalum, niobium and cobalt. The company is based in Zhuzhou, China, and the number of employees encompassed by the strategic cooperation is approximately 2,000. Annual sales for the part of the business concerned amount to about 1.3 billion RMB (1.4 billion SEK).

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