Skip to main content

Normet to invest over €7 million

Underground construction in the world is increasing, metal ores are mined deeper, and there is an ever-growing demand in emerging countries for metals, infrastructure and energy.
April 4, 2012 Read time: 2 mins
A Normet Charmec underground explosive charge places explosives
RSSUnderground construction in the world is increasing, metal ores are mined deeper, and there is an ever-growing demand in emerging countries for metals, infrastructure and energy.

All these trends support the continuation of global needs of specialised equipment for underground tunnel building, says 3708 Normet, a Finnish manufacturer of mining and tunnelling equipment, which is strengthening its local organisations (sales, marketing and customer service) around the world and by making substantial investments in R&D and production facilities.

Last year Normet underwent considerable restructuring resulting in a new distribution network with headquarters, Normet International, in Switzerland, and regional offices in Switzerland, Australia and the United States. Previously, the organisation sold 60% of its products through distributors and third parties, and now at least 80-90% of sales are conducted through its own subsidiaries.

"This year, the main emphasis of Normet's front line operations is on substantial improvement of customer service and support. The subsequent step is to focus on R&D, which will further strengthen our offering and position as a leading supplier of underground concrete spraying and charging solutions," says Aaro Cantell, chairman of Normet Group's board.

In three years, Normet has tripled its turnover and doubled the number of personnel. During the past year, the company has established 14 offices globally and now operates from 17 different locations worldwide with new locations in India, Singapore and Brazil planned in the near future.

"Over €7 million will be invested in manufacturing and in a technology centre. This will enable full-scale prototype manufacturing and testing, and increase our production capacity by 66%," says Jari Osmala, CEO of Normet Group.

For more information on companies in this article

Related Content

  • Brazil’s booming economy fuels infrastructure demand
    July 18, 2012
    The emergence of Brazil as a major economic force and its need to improve infrastructure is proving a magnet for investment. Patrick Smith reports Brazil is now the sixth biggest economy in the world according to its Finance Minister Guido Mantega. The largest country in South America with a population of 190 million and one of the BRICS, (Brazil, Russia, India, China, South Africa, Brazil’s economy grew 2.7% in 2011 and is now worth $2.5 trillion, having overtaken the UK. With big oil and gas reserves stil
  • Volvo Construction Equipment remains upbeat despite 2015 sales dip
    February 5, 2016
    Volvo Construction Equipment saw market share and underlying earnings improve in the final quarter of 2015. The company said that improved underlying earnings and more market share of the important larger machine segments were insufficient to offset a declining total market in Volvo Construction Equipment’s final quarter 2015 results. Sales were down 11% in the period. For full year 2015, sales at the company dipped by 3%. In the fourth quarter of 2015 Volvo CE reported that net sales decreased by
  • Wacker Neuson’s strong growth in third quarter
    November 8, 2019
    The Wacker Neuson Group reports strong growth in its business activities in its third quarter for 2019. There was a double-digit rise in revenue to €467.2 million, a growth of 12.4% over the €415.8 million recorded for the same period in 2018. However the EBIT ratio was slightly below the result for the previous year at €40.2 million, a drop of 4%. The firm says that this growth was fuelled by significant gains in all three reporting regions. Group revenue for the first nine months of the year amounted t
  • Liebherr sets new record for financial results
    April 7, 2020
    Liebherr has set a new record for its financial results in 2019.