Pit & Quarry, March 2015

Atlas Copco to discontinue mobile crushing screening business A tlas Copco plans to cease manufacturing its crushers and screeners the company reports Johan Halling president of Atlas Copcos mining and rock excavation technique business says the mobile crushing and screening business did not fit strategically for the company Atlas Copco says production of its mobile crushers will cease at its St Valentin Austria plant sometime this year The company adds that its current mobile crushing and screening customers will receive aftermarket service support if needed in future years THE LATEST ON EQUIPMENT TECHNOLOGY Atlas Copco is eliminating its mobile crushing and screening lines because they did not fit strategically Continental acquires Veyance Technologies after CADE approval Continental concluded its acquisition of U S rubber company Veyance Technologies after receiving approval from Brazilian antitrust authority CADE Council for Economic Defense The transaction is valued at about 18 billion Veyance specializes in producing conveyor belts hoses and power transmission belts and the company operates 27 plants around the world In 2013 Continental and Veyance achieved a combined sales of about 75 billion By integrating Veyance in our ContiTech division we are expanding our global position in rubber and plastics technologies says Elmar Degenhart chairman of Continentals executive board in Hanover In addition this acquisition will bring Continental a significant step closer to its strategic goal of further increasing the proportion of industrial and end customer business in its sales According to Continental it financed the acquisition entirely from liquid funds and available lines of credit In other acquisitions news Regal Beloit announced the closing of its acquisition of the Power Transmission Solutions business from Emerson Industrial Automation Doosan and Bobcat donate 3 million to scholarship program Doosan and Bobcat Co donated 3 million to North Dakota State Universitys NDSU STEM related Science Technology Engineering and Mathematics scholarship program The state of North Dakota plans to add another 15 million to the fund According to the companies the endowment will distribute about 180000 in scholarships per year in perpetuity beginning this year STEM related areas help fuel innovation which is the very foundation of our business and the key to our future says Rich Goldsbury president of Doosan and Bobcat Co This endowment will help students fulfill their aspirations in engineering and other innovation related professions Doosan and Bobcat also began a research partnership with NDSU in 2005 Through the partnership Bobcat established engineering and product testing facilities a technology lab and an indoor machine testing area Doosan and Bobcat Co officials formally signed an agreement with North Dakota State University NDSU for the STEM scholarship endowment creation From left Rich Goldsbury president of Bobcat and Doosan North America and Oceania Dean Bresciani president of NDSU YM Park chairman of Doosan Group and Scott Park president and CEO of Doosan Infracore Bobcat Holdings Co Ltd 20 PIT QUARRY March 2015 www pitandquarry com