Finnish port crane manufacturer Konecranes, which plans to merge with Terex Corporation, said it will make annual cost savings of €25 million by the end of 2017.
The company said that while merger talks with US manufacturer Terex continue, it needs to make efficiency savings. Around half of the savings will happen before the end of this year, according to a written statement.
Plant down-sizing and closures are a possibility, as well as some streamlining of its product portfolio and its supply chain.
Hyundai Heavy Industries (HHI) and Cummins are setting up a joint venture to produce engines in South Korea for the earthmoving equipment market. The two companies are investing US$33 million each into the project, which will be called Hyundai Cummins Engine Company and will have its factory located in Daegu. Production is scheduled to commence in 2014, with capacity reaching 50,000 engines/year once the facility is fully commissioned. This factory will provide HHI with a steady supply of high quality engi
After launching its biggest turbocharger, the 900-series, Cummins used CONEXPO-CON/AGG to introduce its smallest.
Badged the 100-series, this back-to-basics design features a boost-controlled pneumatic wastegate, and is said to be suited to engines operating all variation of after-treatment system.
