The company says it plans to grow in the mobile crusher markets through the acquisition.
Metso Outotec, Helsinki, Finland, has acquired Tesab Engineering Ltd., a Northern Ireland-based company offering mobile crushing equipment for aggregates applications, including quarrying, recycling, asphalt and concrete. Tesab’s product portfolio includes mobile jaw, impact and cone crushers, mobile screens, scalpers and stackers.
The financial terms of the deal were not disclosed. The deal is expected to be completed during the second quarter. The company says the deal will have no material impact on its financials.
According to a news release from Metso, Tesab’s turnover in 2021 was about EUR 30 million ($32,655,000), and they have more than 60 employees primarily in Europe. The company says Tesab will continue as an independent brand within Metso Outotec and manage its own distribution network.
With the acquisition, Metso Outotec will complement its current offering in the mobile crushing and screening markets. The company says it plans to increase Tesab’s global reach by appointing new distributors and strengthening the company’s presence in new markets.
“We are very glad to welcome Tesab to Metso Outotec," says Markku Simula, president of Aggregates business area in Metso Outotec. "I am convinced that we can further develop their business.”
Editors note: Recycling Today has reached out to Metso Outosec for more information.
Company says its sales rose more than 12 percent compared with 2020.
The Switzerland-based Liebherr Group says it achieved sales of 11.64 billion euros ($12.7 billion) in 2021, calling that a 12.6 percent increase from its 2020 revenue figure. Its revenue in 2021, the equipment maker says, matched its 2019 sales figure.
Achieving the mark was not easy, the company says. “From the second quarter in 2021, to some extent, it was extremely difficult to procure various raw materials, components and electronic parts,” states the firm. “This resulted in price increases and bottlenecks in global supply chains. Despite that, Liebherr recorded a significant increase in sales revenue compared to the previous year. The Liebherr Group grew in eleven of its 13 product segments and in almost all of its sales regions.”
Liebherr says revenues in its earthmoving, material handling technology, deep foundation machinery, mobile and crawler crane, tower crane, concrete technology and mining product segments were 17 percent higher than in the previous year, checking in at more than 8 billion euros ($8.7 billion).
In its other product segments, which include maritime cranes, aerospace and transportation systems, gear technology and automation systems, refrigerators and freezers and components and hotels, Liebherr achieved total revenues of 3.6 billion euros ($3.9 billion), a 3.9 percent increase compared with the previous year.
The company points to “positive development” in North America, Central America and South America, “where strong growth came especially from Brazil.”
In 2021, the Liebherr Group achieved a net profit for the year of 545 million euros ($595 million), which it calls “above the level before the pandemic.”
At the end of the year, the Liebherr Group employed more than 49,500 people worldwide, representing an increase of nearly 1,700 compared with one year earlier.
Alternative drive technologies for machinery continue to be a focal point of research projects at Liebherr, says the company. In 2021, the company says it worked on “hydrogen-powered combustion engines and their injection technologies, as well as electric drives.”
Development include two all-electric truck mixers on five-axle chassis frames, two electric crawler excavators (R 976-E and R 980 SME-E) and the battery-powered crawler cranes LR 1160.1 unplugged and LR 1130.1 unplugged.
The company says it invested 742 million euros ($810 million) in its production sites and its global distribution and service networks.
Looking ahead, Liebherr Group says it has started 2022 “with a very good order situation.” The company adds, “Opportunities arise from expected increase in demand in various industrial sectors in which the Liebherr Group is active. However, the negative effects on the activities of the Liebherr Group due to the war in Ukraine can already be seen. Liebherr is monitoring and assessing the current situation in Ukraine and Russia on a daily basis and is currently in the process of adjusting its Russian activities to the extensive sanctions imposed on the country.”
London Metal Exchange says it will hire an “independent party (or parties)” to conduct the review.
An April announcement from the London Metal Exchange (LME) regarding last month’s nickel contract turbulence indicates the exchange will conduct an internal review process to join one being conducted by the Bank of England and the United Kingdom’s Financial Conduct Authority (FCA).
The announcement from LME executives Matthew Chamberlain and Adrian Farnham says in part, “LME Group welcomes [the] announcement by the FCA and the Bank of England, in respect of a review of the actions taken in response to events in the nickel market to determine what lessons might be learned.”
Regarding its own, parallel review, LME states, “LME Group will commission an independent review of broader events in the nickel market leading up to the suspension to identify any actions that could be taken to minimize the risk of a disorderly market arising in future. The LME Group will engage an experienced independent party (or parties) to undertake the independent review.”
While the LME says it intends to appoint those reviewers “as soon as practicable,” it also says “the full and detailed scope of the independent review has yet to be determined” and that the timeline for the review will not be established until the independent reviewer has been selected.
Procedurally, the LME says the independent reviewers “will have access to all the relevant data in respect of trading activity and position holdings for the period under review. Where and when appropriate, the LME Group will use its rulebook powers to obtain over-the-counter (OTC) and other data from market participants, and make this data available to the independent party that will be undertaking the independent review.”
The LME adds, “All market participants will be welcome to submit their views to the independent party.”
In the meantime, the LME says it has received “broad support for retaining” the 15 percent “upper and lower daily price limits for all of its physically delivered metals.”
Houston-based waste and recycling company hosts 30 students from Tennessee State University.
More than 30 Tennessee State University (TSU) students recently traveled to Houston to visit the WM (formerly Waste Management Inc.) corporate headquarters and meet with some of the company’s senior executives.
The students from the Nashville, Tennessee, historically Black university are participants in the Leadership TSU program and were accompanied by Associate Vice President for Student Affairs and Dean of Students Frank Stevenson.
During their visit, the students heard from WM executives about the personal and professional experiences that have shaped their careers, and about the company’s approach to sustainability.
“It was just very mind-blowing and very impactful seeing those [executives] and what WM is doing,” says Anarra Williams, a senior food and nutritional science major from Dayton, Ohio. “When I first got there, I just thought those were people who pick up our trash, but they really are honing on their sustainability piece—something I want to be a part of.”
Nykole Allen Clark, a senior business administration major from Las Vegas, adds, “That exposure to them and the company itself totally changed our perception of WM. As a business major, I saw a lot and heard a lot to help me in my preparation as a student and as a leader. It was an ‘a-ha’ moment for me.”
In their day-long visit, the students met with WM on several topics, including the company’s approach to sustainability and how that focus shapes its operations. As an example, WM says it focuses on materials recovery solutions at its area landfills, such as its 183-acre site in Nashville, home to what WM calls the only mixed construction and demolition (C&D) materials recovery facility in Davidson County, Tennessee.
Students also engaged in question-and-answer sessions with WM leaders. Tamla Oates-Forney, who oversees WM’s “people team,” fielded questions from students about her experience as a black female executive in corporate America, describing education as an opportunity equalizer and commenting on why diversity and inclusion are important in leadership and the workplace.
“The Houston trip was amazing; to have WM roll out the red carpet of leadership experience for our students was simply breathtaking,” says Stevenson. “They were intentional about making sure our students had a glimpse into their company’s culture. It was amazing conversation and dialogue between students and the WM executive team. I think our students were surprised at all of the components of WM.”
The Leadership TSU visit is an extension of a three-year partnership between WM and TSU first announced in late 2021. Through that partnership, WM has committed $300,000 to TSU. WM says half of that funding will be directed toward sustainability research conducted in collaboration with TSU’s Colleges of Agriculture and Engineering and the other half will provide need-based scholarships each year to up to 10 students from the Nashville area who attend TSU.
“The energy and curiosity of these student leaders was truly inspiring,” says Eddie McManus, Mid-South area vice president for WM. “This visit was a great way to kick off our relationship with TSU, and we look forward to all that is ahead, including building out the research program and getting to know more students through the internship and scholarship opportunities.”
U.S. representative from Pennsylvania honors firm for 150,000 tons of fly ash landfill diversion.
Congressman Dan Meuser (R-PA) and other political delegates visited the Eco Material Technologies facility in Danville, Pennsylvania, on Wednesday, April 20. The visit by the United States representative was arranged to help celebrate Eco Material’s diversion and repurposing of 150,000 tons of fly ash, a byproduct of coal-fired power plants.
The repurposed ash from Eco Material’s plant in Danville has been used in concrete to help repave thousands of miles of roads around the state, says the firm.
“We are honored to welcome Congressman Meuser and other officials to celebrate this landmark achievement for both Eco Material and the state of Pennsylvania,” remarked Grant Quasha, CEO of Eco Material. “Without the support of the Congressman and other state, federal and local officials, we would not be commemorating today’s milestone.”
“My district is made up of many communities that benefit from the great work Eco Material is doing in Danville,” said Meuser. “Eco Material’s innovative process of transforming the waste material called fly ash from coal-fired power plants into a near-zero carbon cement product is a smart and environmentally-friendly way to build America’s infrastructure. Eco Material provides a free-market alternative to other cement products that have been used to repave roads utilized by Pennsylvanians throughout the Commonwealth.”
Additional attendees on April included Pennsylvania state Representative Kurt Masser, representatives from the office of U.S. Senator Pat Toomey (R-PA), U.S. Senator Bob Casey (D-PA) and Pennsylvania state Senator John Gordner, as well as officials from utility Talen Energy and other area businesses.
Eco Material describes itself as a “producer of sustainable cement alternatives” serving more than 4,000 customer locations from its more than 100 sites in 45 states. Eco Material says it is the leading marketer and distributor of fly ash, with an approximately 50 percent volume share in the U.S.