Metso takes Russian write-off
Jul 13, 2022
Metso takes Russian write-off
Finland-based Metso Outotec, a global producer of aggregates and metals production equipment, says it has been winding down its business operations and customer contracts in Russia and the decision will cause it to declare a non-recurring charge on its balance sheet that is expected to total about 150 million euros ($150 million). Metso Outotec says it has been conducting the withdrawal from Russia during the second quarter of this year, following the company’s disclosure in March 2022 that it would do so. At the end of March, the company had an order backlog of about $480 million in Russia. About $315 million of that was originally expected to be recognized as sales in 2022, of which approximately $215 million was to non-sanctioned customers, says the firm. After having made deliveries worth about $67 million to non-sanctioned Russian customers during the second quarter, Metso Outotec says it has decided to make a provision for its remaining exposure in Russia. That non-recurring charge is expected to total $150 million and includes wind-down and restructuring costs. “The negative impact of the wind down in the Group’s order backlog at the end of June is approximately 380 million euros ($380 million),” states the company. Metso Outotec says it will “continue to monitor the situation closely, as further changes are expected in the sanctions and export control restrictions, as well as in the availability of banking facilities and logistics.”
Two sessions at September event in Kentucky will examine how to maintain baling equipment. For demolition contractors and C&D recyclers who bale some of their metal and cardboard, sessions at the September Scrap Expo event may be of value. The Recycling Today Media Group, lead organizer of the event, which takes place at the Kentucky Exposition Center in Louisville, Kentucky, Sept. 13-14, states, “Between testing out equipment and exploring the indoor exhibit hall, attendees will get detailed equipment maintenance training and education.”
Two different sessions have been designed to address baler operations and ownership in particular. On Tuesday, Sept. 13, from 1:30 to 2:30 p.m., a session on logger and flattener maintenance will cover maintenance issues pertinent to all makes and models of these processing machines. Making dense bales or tight logs of loose tin, clean appliances or other materials handled by demo contractors and C&D recyclers could make this session a high priority for Expo attendees. The session is sponsored by California-based equipment producer Sierra International Machinery. The following day from 1:30 to 2:30, a session focusing on two-Ram and high-compression baler maintenance also is being sponsored by Sierra . Two-ram and high compression balers can require substantial maintenance to ensure continued performance and long life, according to the event organizer. “This workshop takes a detailed look at what is required to keep these machines running,” adds the Recycling Today Media Group. “Operators will walk away with in-depth insights on how to keep their machines performing productively.”
More information about the 2022 Scrap Expo, being billed as an equipment live demonstration event, can be found on this web page . Photo courtesy of CoStar Group and Crain’s Chicago Business. Chicago transaction could portend demo job
Canada-based developer buys vacant building on land near proposed casino. A Vancouver, British Columbia, Canada-based real estate development firm has reportedly purchased a property that hosts a vacant building with the intention of demolishing the structure to build an apartment complex. A late June online report on therealdeal.com website says the Vancouver-based Onni Group paid $45 million for a seven-acre site in the Goose Island neighborhood near the proposed location of Chicago’s first casino. The parcel had been owned by Irving, Texas-based Nexstar Media Group and Chicago-based Riverside Investment & Development. Those two companies, according to therealdeal.com, had earlier proposed to tear down 115,000-square foot building on the West Chicago Avenue site to build four office towers with some residential space included. The website says, however, those plans were cancelled as the COVID-19 pandemic soured the outlook for the office space market. Another online media report, from Crain’s Chicago Business, says what Onni is proposing involves building some 2,700 apartments on Goose Island and could involve the acquisition of additional property. According to therealdeal.com, the earlier redevelopment proposal had advanced to the point that Nexstar “won City Council approval to demolish the vacant 115,00-square-foot building.”
The sizable building had once been used to collate advertising inserts into the Chicago Tribune newspaper, a practice that has dwindled along with the distribution of printed newspapers. Goose Island is attracting redevelopment money (and likely demolition jobs) because in May of this year, the city of Chicago announced it had accepted a $1.7 billion bid from Rhode Island-based Bally’s Corp. to open a casino there. According to therealdeal.com , the casino project also will entail demolition, possibly of buildings on a 30-acre site where the Tribune used to be printed. Canadian developer Onni has a second proposed residential project on Goose Island that could result in the demolition of a former Greyhound bus maintenance facility there, reports the website. Photo by Ryan Phillips and courtesy of Patch.com. Alabama dormitory goes out with a bang
Tutwiler Hall on the University of Alabama campus was imploded in early July. The implosion of a 13-story, 270,000-square-foot dormitory building on the University of Alabama campus in Tuscaloosa, Alabama, provided additional July 4 fireworks entertainment for that western Alabama city. Bixby, Oklahoma-based Dykon Explosive Demolition Corp. performed the implosion as a subcontractor to North Carolina-based D.H. Griffin Wrecking Co., according to local media reports. An online report from the AL.com website indicate Dykon drilled about 2,000 holes to hold an identical number of charges that, cumulatively, involved some 675 pounds of dynamite. The building successfully collapsed upon itself in about 20 seconds. The media organization says the implosion took place at 7:00 the morning of July 4, consisting of “a loud charge” followed by “a string off fireballs” that blew across the top floor windows, and finally the toppling of the structure “in a matter of seconds.”
Once the dust had cleared, writes AL.com, some 30,000 tons of concrete rubble resulted, which the university says will be “hauled to a recycling center where it will be crushed and then used for future campus projects.”
Contractor D.H. Griffin is well versed and experienced in both concrete and scrap metal recycling and is likely to achieve a high materials recycling rate on the project. The 13-story structure taken down was built in 1968 as the second iteration of a residence hall for female students first built in 1914. An Alabama Public Radio online article indicates some 50,000 students had called the second Tutwiler Hall home between 1968 and 2021. The University of Alabama determined a thorough renovation of the building determined would not be cost-effective, so the university instead has built a new Tutwiler Hall next to the one just imploded, says AL.com . Photo courtesy of Caterpillar Inc.
Caterpillar releases new 336 hydraulic excavator
The excavator features three engine modes and is compatible with the company’s remote tools. Deerfield, Illinois-based Caterpillar Inc. has released its new 336 hydraulic excavator, with a hydraulic system designed to deliver strong digging forces and swing torque to boost production in demanding applications. “Our new Cat 336 model delivers the right balance of power and payload,” says Brian Abbott, Caterpillar global product manager for large hydraulic excavators. “The result is a rugged and reliable machine that delivers excellent production along with low owning and operating costs.”
The 336 excavator features three engine modes designed to match excavator power to the demands of the job while saving fuel, according to the manufacturer. Power mode delivers maximum power in demanding tasks. Smart mode automatically matches engine and hydraulic power to digging conditions to lower fuel consumption. Eco mode minimizes fuel consumption by reducing engine speed to a constant 1,500 rpm. Engine oil and fuel filters are synchronized for service at 1,000 hours, increasing uptime and reducing parts and labor costs compared with the 336F Series excavator, Cat says. High-ambient temperature capability of 52 Celsius degrees (125 Fahrenheit), cold-start capability at -18 C (0 F) and the ability to work at up to 4,500 meters (14,764 feet) above sea level enable the 336 to work in various climates. Auto hydraulic warmup in cold temperatures gets the machine to work faster and prolongs the life of machine components, the company says. The air intake filter with pre-cleaner features high dust capacity, and a high-efficiency hydraulic fan offers optional automatic reverse to keep cores free from debris. The company’s Product Link tool collects data automatically. Information including hours, fuel usage, idle time, maintenance alerts, diagnostic codes and machine health can be viewed online through web and mobile applications. Remote troubleshoot and remote flash allow dealers to remotely connect with the machine to diagnose fault codes and update operating software. Deluxe and premium cab trim levels are available: Deluxe cabs come with a heated air-suspension seat, and premium cabs come with a heated and ventilated air-suspension seat. Both have a tilt-up left-hand console for easier access in and out of the machine. A touchscreen monitor and jog dial offer quick navigation through machine controls and provide access to the machine’s digital operator’s manual. Keyless pushbutton start is standard, and a Bluetooth key fob is also available. An operator ID passcode allows for engine starting, and operator ID can quickly save and restore joystick button, response and patter preferences for individual operators, the company says. Optional Cat Stick Steer makes travel and turning much easier, according to Cat. A host of standard technologies—Cat Payload on-board weighing, Grade Assist for maintaining grade and 2D Grade with depth and slope indication—focus on operator efficiency and machine productivity. All Cat Grade systems are compatible with radios and base stations from top third-party technology suppliers. Operators can store up to four depth and slope offsets to cut to grade without a grade checker. Auto hammer stop warns operators after 15 seconds of continuous firing and then shuts off the hammer after 30 seconds to prevent wear and tear. Auto dig boost and auto heavy lift increase bucket penetration and lift capacity by 8 percent, and Cat Lift Assist helps operators avoid tipping the machine, the company says.