Category: Mining technology

Swedish mining equipment manufacturer Epiroc has posted a 17% increase to 2.59 billion crowns (USD 280 million) in its operating profit for the December quarter. Epiroc saw orders increase by 25% to 11.6 billion Swedish crowns, and recorded an organic growth of 19% in Service and 16% in Tools and Attachments. Mining equipment orders also increased 20% organically. North America had the highest growth rate for equipment orders. Revenues hit a record 11.2 billion Swedish crowns, increasing 14% year-on-year. “Revenues increased and both operating profit and margin reached new records,… Read More Here

Swedish engineering company Sandvik posted a positive December quarter, with strong demand for mining equipment boosting its numbers. Total order intake in the Sandvik Mining and Rock Solutions department grew by 52% year on year, of which organic growth accounted for 30%, chief executive Stefan Widing said. Sandvik also received a “record” number of orders for its AutoMine fleet and its Newtrax collision avoidance systems, he said. AutoMine orders came to 254 million Swedish crowns (USD 27 million), while Newtrax orders amounted to 155 million Swedish crowns (USD 16.6 million).… Read More Here

Metso Outotec will take the next structural development steps in its business portfolio, following the completed integration of its Minerals business and the successful turnaround of its Metals business. Metso is a process technology, equipment and services company serving the minerals, metals and aggregates industries. The company plans to change its business area structure and related reporting segments by transferring the Hydrometallurgy business from Metals to Minerals. The objective of the change is to accelerate Metso’s profitable growth in the minerals processing industry by more efficiently leveraging the opportunities and… Read More Here

Japanese industrial conglomerate Hitachi Ltd. will sell about half of its stake in its construction machinery unit to a group including Itochu Corp. for 182.5 billion yen ($1.6 billion).  The company will sell a 26.1% holding in Hitachi Construction Machinery Co. for 3,300 yen a share in June, Tokyo-based Hitachi Ltd. said Friday in a statement. That’s a premium to its closing price of 2,976 yen.  Hitachi will retain a 25.4% stake after the sale, which also includes Japan Industrial Partners Inc. as a buyer.  For Hitachi, the sale is… Read More Here