Liebherr Group’s mining sector in decline

For the 2014 business year, the Liebherr Group anticipates an overall turnover of €8866 million – slightly down on 2013 turnover of €8964 million. The group reported a decline in its mining and construction divisions.

In the area of construction machines and mining, Liebherr said it expected a turnover of approximately €5374 million, which is a decline of €256 million or 4.5%. This decline results above all from the weakness of the global mining industry. The Group’s construction machinery and mining area comprises the earthmoving, mobile crane, tower crane, concrete technology and mining divisions. In the current business year, turnover in the mining division, in particular, has fallen considerably.

Despite the bad omens from its mining and construction areas, the group is looking toward 2015 with some optimism.

For 2015, a worldwide growth of 3.8% is anticipated, which would represent a greater dynamic than in this year. Against this backdrop, the group said it was “looking optimistically towards the next year: Based on an initial estimate, Liebherr expects the overall turnover to increase”.

Adapted from press release by Sam Dodson

Read the article online at: https://www.worldcoal.com/mining/18122014/liebherr-mining-division-hit-by-weak-market-1699/