Tag: Dustin

Deutsche Post DHL net profits fall 59 per cent as tougher economy

by David McHugh, The Associated Press Posted May 14, 2013 1:38 am MDT FRANKFURT – Mail and freight company Deutsche Post DHL saw its profits dip in the first quarter as a tough global economy meant companies shipped fewer goods by air.A large one-time gain in the year-ago quarter from the sale of the Postbank business to Deutsche Bank also hurt the profit comparison, the Bonn, Germany based company said Tuesday.Overall, Deutsche Post made a net profit of 498 million euros ($647 million) in the first three months of the year, 5.9 per cent lower than the year ago equivalent of 529 million euros. The Postbank sale added 186 million euros last year.The profit fall came despite a 0.6 per cent rise in revenues to 13.44 billion euros.Deutsche Post, which operates an air freight hub in Cincinnati, Ohio, said its freight business saw slower demand for freight in “a strained macroeconomic environment” that includes a stagnant European economy.Air freight revenue fell 8.2 per cent to 1.2 billion euros, with a particularly strong decline in the technology and manufacturing sectors. Still, operating earnings for the freight division showed a 1 per cent increase due to strict cost management.Deutsche Post, which has 473,000 employees in 220 countries and territories, emerged from the former government post office through privatization, and remains Germany’s domestic mail carrier. The German government owns a 24.9 per cent stake through its KfW bank.The company maintained its full-year forecast for as much as 2.95 billion euros in earnings before interest and taxes. Deutsche Post DHL net profits fall 5.9 per cent as tougher economy slows freight revenues AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email read more

Atlas Copco marks half century of hydraulic breakers in mining

first_imgLast month, Atlas Copco Construction Tools in Essen, Germany, celebrated the 50th anniversary of the introduction of the hydraulic breaker to the mining and construction markets. An innovative idea which originated in the German city of Essen half-a-century ago has transformed the mining industry and is now a worldwide standard. Krupp Berco Bautechnik, acquired by Atlas Copco in 2002, developed the rig-mounted hydraulic breaker and took out a patent in 1963. The first machine, the HM 400, attracted huge interest at the Hannover fair in 1967 and more than 2,000 units were sold.The aim was to save time and labour in mining and demolition operations where, at that time, pneumatic tools were widely used, and the new concept was highly successful. It meant that one person operating a rig-mounted hydraulic breaker could do the same amount of work as several operators with pneumatic tools. This innovation was the start of a major transformation in the construction and mining industries. Today, hydraulic breakers are in general use and dozens of manufacturers around the globe produce machines of this type under a large number of different brands. Tens of thousands of machines are sold around the world each year.Gordon Hambach, Product Line Manager for Power Demolition Tools at Atlas Copco Construction Tools said: “It is our belief that there is always a better way of doing things. That innovative spirit is a vital part of Atlas Copco’s identity, a vital part of our way of conducting business. It is also the driving force, which has made us a leader in our industry. Innovation is the ultimate driver for long-term profitability and growth.”last_img read more