Quarry Southern Africa July 2017 - Page 10

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