{"id":1293,"date":"2016-04-23T13:35:19","date_gmt":"2016-04-23T13:35:19","guid":{"rendered":"http:\/\/minutes.machine.market\/?p=1293"},"modified":"2016-04-23T13:35:19","modified_gmt":"2016-04-23T13:35:19","slug":"metso-keeps-suffering-from-global-mining-slump","status":"publish","type":"post","link":"https:\/\/machine.market\/blog\/metso-keeps-suffering-from-global-mining-slump\/","title":{"rendered":"Metso keeps suffering from global mining slump"},"content":{"rendered":"<p>Finland-based supplier Metso, which last year decided to\u00a0<a href=\"http:\/\/www.mining.com\/metso-places-mining-division-in-back-burner-as-sales-remain-poor\/\" target=\"_blank\" rel=\"noopener noreferrer\">put its mining division in the back burner<\/a>\u00a0due to weak sales, <a href=\"http:\/\/www.metso.com\/news\/2016\/4\/metsos-interim-review-january-1---march-31-2016\/\" target=\"_blank\" rel=\"noopener noreferrer\">posted Friday<\/a> a lower-than-expected quarterly profit and new orders.<\/p>\n<p>The company\u2019s adjusted earnings before interest, tax and amortization were 28% lower than a year ago at 56 million euros ($63 million).<\/p>\n<p>New orders dropped 10% to 663 million euros, compared to analysts&#8217; average expectations of 679 million euros.<\/p>\n<p><em><strong><q class=\"pullQuote-right\">Metso expects mining equipment demand to remain weak this year.<\/q><\/strong><\/em><\/p>\n<p>Metso, which also makes valves and pumps for the oil and gas industry, said it expects mining equipment demand to remain weak, but said its other products and services should have a \u201csatisfactory\u201d year.<\/p>\n<p>As most mining suppliers, Metso has been hit hard by a sustained commodity rout. As a result, the company began last year a major restructuring aimed to switch the Metso\u2019s emphasis from mining equipment manufacturing to sales of services and flow-control equipment, which together account for roughly 85% of its revenue.<\/p>\n<p>The Finnish company is not the only one suffering the impacts of spending cuts among miners in the last three years. Its peers in a Nordic cluster of mining gear suppliers, including Sweden&#8217;s\u00a0Atlas Copco, Sandvik, and Denmark&#8217;s FLSmidth have also been squeezed by\u00a0it.<\/p>\n<p>Source: \u00a0<strong><a href=\"http:\/\/www.mining.com\/metso-keeps-suffering-from-global-mining-slump\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mining.com<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Finland-based supplier Metso, which last year decided to\u00a0put its mining division in the back burner\u00a0due to weak sales, posted Friday a lower-than-expected quarterly profit and new orders. The company\u2019s adjusted earnings before interest, tax and amortization were 28% lower than a year ago at 56 million euros ($63 million). New orders dropped 10% to 663 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1297,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":""},"categories":[8,9],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Metso keeps suffering from global mining slump - MachineMarket Blog<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cranemarket.com\/blog\/metso-keeps-suffering-from-global-mining-slump\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Metso keeps suffering from global mining slump - MachineMarket Blog\" \/>\n<meta property=\"og:description\" content=\"Finland-based supplier Metso, which last year decided to\u00a0put its mining division in the back burner\u00a0due to weak sales, posted Friday a lower-than-expected quarterly profit and new orders. The company\u2019s adjusted earnings before interest, tax and amortization were 28% lower than a year ago at 56 million euros ($63 million). New orders dropped 10% to 663 [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cranemarket.com\/blog\/metso-keeps-suffering-from-global-mining-slump\/\" \/>\n<meta property=\"og:site_name\" content=\"MachineMarket Blog\" \/>\n<meta property=\"article:published_time\" content=\"2016-04-23T13:35:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/machine.market\/blog\/wp-content\/uploads\/2016\/04\/metso-keeps-suffering-from-global-mining-slump.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"https:\/\/machine.market\/blog\/#organization\",\"name\":\"CraneMarket | Cranes for Sale and Rent\",\"url\":\"https:\/\/machine.market\/blog\/\",\"sameAs\":[],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/machine.market\/blog\/#logo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/machine.market\/blog\/wp-content\/uploads\/2019\/03\/crane-market-logo.png\",\"width\":282,\"height\":81,\"caption\":\"CraneMarket | Cranes for Sale and Rent\"},\"image\":{\"@id\":\"https:\/\/machine.market\/blog\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/machine.market\/blog\/#website\",\"url\":\"https:\/\/machine.market\/blog\/\",\"name\":\"MachineMarket Blog\",\"description\":\"Machine News\",\"publisher\":{\"@id\":\"https:\/\/machine.market\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/machine.market\/blog\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cranemarket.com\/blog\/metso-keeps-suffering-from-global-mining-slump\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/machine.market\/blog\/wp-content\/uploads\/2016\/04\/metso-keeps-suffering-from-global-mining-slump.jpg\",\"width\":900,\"height\":500},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cranemarket.com\/blog\/metso-keeps-suffering-from-global-mining-slump\/#webpage\",\"url\":\"https:\/\/cranemarket.com\/blog\/metso-keeps-suffering-from-global-mining-slump\/\",\"name\":\"Metso keeps suffering from global mining slump - 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