Anglo American shrinks trading unit as part of major restructuring
The miner also announced internally that it will no longer enter into long-term deals to buy commodities that it doesn’t already produce.
German equipment manufacturer Liebherr said this week the group’s overall turnover for this year is expected to be close to $11 billion (€8.87 billion), slightly below (1%) what achieved in 2013.
While the decline does not seem significant, it quickly turns ugly when analyzing the firm’s mining and construction business. Liebherr said turnover in this particular division is expected to drop at least 4.5%, reaching $6.6 billion, or about $317 million less than last year.
Despite the dip, the group is forecasting an increase in revenues as a result of an expected global growth of 3.8%.
Liebherr ‘s construction machinery and mining area comprises the mobile crane, tower crane, concrete technology and mining divisions.
