global news
Improving market conditions in all
regions except South America helped
Volvo Construction Equipment
(Volvo CE) report strong growth in sales,
profitability, order intake and deliveries
in the first quarter of 2017. During the
first three months of 2017, Volvo CE’s net
sales jumped by 30% to Swedish krona
SEK16 163-million (SEK12 452-million in
Q1 2016). Operating income rose to
SEK1 617-million from SEK341-million in
the first quarter of 2016. Operating margins
also saw improvement, at 10%, compared
to 2.7% in the same period the year before.
Volvo CE’s order intake increased by 34% to
17 487 machines in Q1 2017, with increases
in orders coming from all markets, but
particularly China and Europe. Deliveries
were also up 34% during the period to
16 369 machines.
US-based farm and construction company
Deere has signed an agreement to purchase
privately held German road construction company
Wirtgen Group for USD5.2-billion. The
transaction is subject to regulatory approval in
several jurisdictions and the companies expect
to close on the transaction in the fourth quarter
of 2017. The Wirtgen Group is an internationally
operating group of companies in the construction
machinery sector, including road construction
and rehabilitation, mining and mineral
processing plants, recycling material plants
and asphalt production. According to the terms
of the agreement, Deere plans to maintain the
Wirtgen Group’s existing brands, management,
manufacturing footprint, employees and
distribution network. The combined business is
expected to benefit from sharing best practices in
distribution, manufacturing and technology as well
as in scale and efficiency of operations.
LafargeHolcim has announced the appointment
of Jan Jenisch as chief executive officer, with
effect from 16 October 2017, following the recent
resignation of Eric Olsen, who will leave the group
on 15 July 2017. Chairman Beat Hess will act as
interim CEO until Jenisch takes up his new post.
Jenisch joins the group from Swiss company Sika
AG, where he has held the position of CEO since
January 2012. Under his leadership, Sika’s market
capitalisation has more than tripled and the
company recently gained admission to the Swiss
Market Index. Jan Jenisch is a CEO who is widely
respected for consistently delivering strong business
results and he comes with a deep understanding of
the building materials sector. His agile le