STOCKHOLM, July 18 (Reuters) – Engineering group Atlas Copco
announced more job losses on Thursday as spending
cuts across the mining industry hit demand for its trademark
drill rigs and loaders and raised worries the sector’s downturn
may have further to run.
Robust activity in services and industrial equipment stemmed
a fall in group profit and orders but the company forecast that
demand for mining gear would slip further in the near term.
STOCKHOLM (Reuters) – SKF (SKFb.ST: Quote, Profile, Research, Stock Buzz), the world’s biggest maker of bearings and a bellwether of the manufacturing sector, reported a tentative improvement in demand, driven by a surprise pick up in sales to Europe’s car industry as well as energy and aerospace customers.
However the Swedish group, whose bearings are used in products ranging from dishwashers to wind turbines, struck a cautious tone about the months ahead, saying demand would probably consolidate at second-quarter levels for now.
FRANKFURT/STOCKHOLM, June 20 (Reuters) – Mining equipment
manufacturers are making improvements to machinery that they
hope will deliver productivity gains for customers and counter
Under pressure from investors for higher returns, miners
want to get the most out of every shovel, grinder and truck to
help maintain margins which are being squeezed by high labour
and energy costs and cooling commodity prices.
STOCKHOLM (Reuters) – The scene of Sweden’s worst riots in years, Husby is on the surface at least a typically neat suburb of colorful playgrounds, manicured parks and low rise apartment buildings.
Conversations with residents of this immigrant neighborhood soon bring tales of fruitless job hunts, police harassment, racial taunts and a feeling of living at the margins that are at odds with Sweden’s reputation for openness and tolerance.
STOCKHOLM, May 20 (Reuters) – Engineering group Atlas Copco
expects resilient service revenues and efficiency
drives by cost-conscious miners to sustain growth in its mining
and rock drilling business.
The global mining industry is suffering a hangover from a
decade-long boom of rapid expansion and expensive projects with
firms such as BHP Billiton and Rio Tinto now
slashing billions of dollars of spending.
STOCKHOLM, May 3 (Reuters) – Chinese-owned Volvo
Cars said on Friday it could reach break even on an
operating level this year without help from one-off gains that
alone kept the carmaker in the black in 2012.
Languishing sales in China and Europe took a heavy toll on
the car industry in 2012, sending Volvo’s operating profit
plummeting to 18 million Swedish crowns ($2.76 million).
STOCKHOLM, April 25 (Reuters) – Volvo, the
world’s No. 2 truck maker, posted a surprise rise in
first-quarter orders and said it would step up production,
adding to signs a protracted slump in key markets like Europe
may be coming to an end.
The Swedish group, which makes heavy-duty trucks under the
Renault, Mack, UD Trucks and Eicher brands as well as its own
name, said on Thursday orders rose 11 percent year-on-year
compared with a 15 percent fall forecast by analysts.
STOCKHOLM, April 23 (Reuters) – Swedish machinery and tool
maker Sandvik posted a bigger-than-expected 33 percent
drop in first-quarter operating profit, adding to signs that
miners are cutting back spending amid sliding commodities
Sandvik, which along with domestic rival Atlas Copco
supplies more than half the global market for
underground mining gear like drill rigs and crushers, said on
Tuesday mining orders dropped 30 percent in the quarter,
excluding currency swings.
STOCKHOLM, April 17 (Reuters) – Industrial bellwether SKF
Inc, the world’s biggest bearings maker, expects
demand to stay flat in the next few months before an improvement
in conditions in some of its major markets emerges later in the
The Swedish company, a gauge of manufacturing activity as
its bearings are used in sectors ranging from household
appliances to nuclear power plants, has suffered five straight
quarterly falls in sales volume, including a 9 percent drop in
the first quarter.
STOCKHOLM, April 8 (Reuters) – Telecom equipment maker
Ericsson said it had struck a deal to buy Microsoft
Corp’s Mediaroom IPTV business, which makes software
used by phone companies to deliver television over the Internet.
Ericsson said it expected to close the deal for the
business, which employs more than 400 people worldwide, during
the second half of 2013. It did not disclose a purchase price,
though a company official provided a ballpark figure.