October 1, 2020
DAILY BRIEF: Major industry merger, quantum breakthrough, IT, mining and circling pollution
Two major Finnish cargo-handling equipment providers are merging.
Kalmar / Cargotec
All the daily Finnish business news that works: Konecranes, Cargotec, VTT, Aalto University, Digia, Metso Outotec, and City of Helsinki make headlines.
Konecranes and Cargotec announce a merger, VTT Technical Research Centre of Finland and Aalto University researchers make strides in quantum technology, Digia acquires NSD Consulting, Metso Outotec keeps busy worldwide, and Helsinki unveils the Green Paths app.
Finnish industrial crane manufacturer Konecranes and cargo-handling equipment maker Cargotec have announced an intended merger with the ambition of creating a global leader in sustainable material flow. The companies’ respective boards of directors today approved the combination agreement and merger plan. The companies’ combined annual sales are approximately seven billion euros and comparable operating profits around 565 million euros, based on 2019 figures. Through the issuance of new shares, both Cargotec and Konecranes shareholders are set to own approximately 50 per cent of the combined company.
Researchers at VTT Technical Research Centre of Finland and Aalto University have developed a new detector for measuring energy quanta at unprecedented resolution. As measuring the energy of qubits is at the heart of how quantum computers operate, the detector could become a game-changer in quantum technology. The graphene-made device is so small that it could fit comfortably inside a single bacterium. The research collaboration is backed by the Academy of Finland, a governmental funding body for scientific research, and the results have recently been published in the Nature journal.
Finnish software and service company Digia has signed an agreement to acquire the entire share capital of NSD Consulting, a company specialising in demanding full-stack software development, especially in Java and .NET environments. A network of 1 600 freelance professionals has had a key role in NSD’s business structure, which will now be available through Digia’s network of freelancers, Digia Hub. NSD Consulting reported net sales of 3.51 million euros in 2019.
Metso Outotec will supply an Australian gold mine with two energy-efficient vertical grinding mills, which will be the largest of their kind in the country. The value of this kind of order typically ranges between 10 and 15 million euros. The Finnish company has also signed a major contract with Zijin Mining for the delivery of key minerals processing equipment for a copper mine project in Tibet, China. The order is worth around 25 million euros. Finally, Metso Outotec has started operations at its new factory for mining wear parts in Šiauliai, Northern Lithuania.
The City of Helsinki has released an app that delivers cyclists and pedestrians route recommendations based on real-time data on air quality and noise levels in various parts of the metropolitan area, enabling them to avoid the busiest, noisiest and most polluted routes and reach their destination as quickly as possible. Click on the headline to read our full article.
City of Helsinki
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