IRON and STEEL
Mining Machinery & Equipment
Outotec has finalized the negotiations with employee representatives announced on October 26, 2017 to outsource its German-based project engineering function to Citec. As a result of the negotiations, 59 Outotec employees have transferred to Citec as of April 1, 2018.
Citec is a global engineering company providing multi-discipline engineering services to the energy and other technology-dependent industries. The outsourcing will not have an impact on Outotec's financial guidance for 2018.
"By outsourcing part of our engineering activities, we create more flexibility to our organization and decrease Outotec's fixed costs in the long run. Citec is a suitable partner for us as they have already presence and an existing customer base in Germany and Finland, and excellent references", says Kalle Härkki, Head of Outotec's Metals, Energy & Water business.
MUMBAI/BENGALURU – Physical gold buying stalled in top Asian hubs this week as consumers sold back bullion to cash in on a steep price rally, while a recent import duty hike further dented waning interest in an Indian market hit by a surge in local rates.
It is with deep regret and profound sadness that we inform you that Mr. Yasukuni Yamasaki, the former CEO and Chairman of the Board of Primetals Technologies Limited, suddenly passed away on June 7, 2019 due to a heart attack.
One of China's largest steel producers recently awarded Primetals Technologies an order to optimize the processes of one of its continuous casters. This meant that the leading supplier of automation systems in the metallurgical industry celebrated its 150th order in the last ten years alone for process automation systems (Level 2) in continuous casting.
Primetals Technologies has developed the world's first direct reduction process for iron ore concentrates from ore beatification not requiring any pre processing like sintering or pelletizing.
ME-METALS: HELSINKI, July 4 (Reuters) - Finnish engineering group Metso is merging its main minerals technology business with smaller rival Outotec, Metso said on Thursday, sending shares in both companies higher.
Moody’s forecast for the global base metals industry is stable, while it predicts performance to weaken over the next year and a half, Mining Weekly reported Monday.