Atlas Copco suffers weak demand for mining gear

05 August 2013 | 13:03 Code : 21813 Geoscience events
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Stockholm-based engineering group Atlas Copco announced spending and job cuts as a ....

Stockholm-based engineering group Atlas Copco announced spending and job cuts as a result of weak demand for drill rigs and loaders, in the company’s 2013 Q2 report.Industry-wide spending cuts, project delays and dipping commodities prices have dented demand for Atlas’ underground mining gear, but the blow was cushioned slightly by a "thriving services business," Reuters reported Thursday.The company expects third quarter overall group demand to stabilize.

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