Sat, 29 Oct, 2016 12:00:18 AM FTimes - STT Report, Oct 29  File Photo – Lehtikuva. The third quarter results of mining technology company Outotec proved less successful.
The company’s adjusted operating profit in the third quarter of 2016 was 1.6 million euros com-pared to 14.7 million euros in the third quarter of 2015.
Sales dwindled by one-fifth to 245 million euros. Compared to last year, orders have shrunk by eight percent since the turn of the year.
The company's president and CEO Markku Teräsvasara said that cost saving actions especially in the metals, energy and water segment will continue.
According to Teräsvasara, minerals processing market showed signs of recovery and our third quarter total order intake grew compared to last year.
Teräsvasara pointed out that customers are focusing on reducing their production costs and that the company does not expect major changes in the service market soon.
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