Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
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LiuGong Machinery, the Chinese quarrying and mining equipment manufacturer based in Liuzhou, has finalised an agreement to acquire Poland’s Huta Stalowa Wola (HSW) and its distribution subsidiary Dressta, which is a well known brand for large dozers and wheel loaders used in mining. The agreement was signed by both companies’ executives in Warsaw. Dressta models include the 5.7 m3 bucket 560E wheel loader and the 68 t TD-40E crawler dozer. David Beatenbough, currently Vice President of Research and Development for LiuGong, has been named Chairman of the Board of the new entity, LiuGong Machinery (Poland). The transaction is LiuGong’s first outright acquisition outside its domestic market. (more…)
