NDP leader calls on Harper to defend supply management in its entirety

NDP leader calls on Harper to defend supply management ‘in its entirety’ OTTAWA – Prime Minister Stephen Harper should defend supply management “in its entirety” during negotiations on the Trans-Pacific Partnership, says NDP leader Tom Mulcair.Harper’s most recent remarks on the trade talks have created uncertainty for Canadian egg, poultry and dairy producers, Mulcair writes in a letter to the prime minister.Supply management relies on marketing boards to control domestic production of eggs, milk, cheese and poultry and high import tariffs to protect against foreign producers.“I am urging you to commit to defending supply management in its entirety and reassure Canadians that it will be protected in all future negotiations,” Mulcair writes in the letter, sent late last week.“Concessions in supply management sectors could have profoundly negative effects on our regional economies.”Mulcair also stressed the importance of the policy in his home province.“In Quebec alone, nearly 7,000 family farms exist and prosper thanks to supply management, which also accounts for 92,000 jobs and 43 per cent of total agricultural revenue.”Last Thursday, Harper said Canada is “working to protect” the supply management system while it participates in the trade talks.“I believe these negotiations are going to establish what will become the basis of the international trading network in the Asia Pacific. It is essential in my view that Canada be part of that — that the Canadian economy be part of that,” Harper said.“At the same time, we are working to protect our system of supply management and our farmers in other sectors.”Max Moncaster, a spokesman for Trade Minister Ed Fast, denied media reports from last week that said the government was prepared to make concessions on supply management.“Our government is committed to defending our system of supply management,” he said in a statement.“Unlike Thomas Mulcair, who has consistently opposed Canada’s free trade agreements and advocated against Canada’s economic interests on the world stage, our government will continue to promote Canadian trade interests across all sectors of our economy, including supply management.”The TPP is currently being negotiated by 12 countries including Canada, Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam.The government says TPP countries represent 792 million people and a combined GDP of $28.1 trillion, which is about 40 per cent of the global economy.One of the central complaints from opposition parties has been the secrecy surrounding the talks, which have gone on behind closed doors.The government has also faced strong opposition from dairy and poultry farmers who want supply management preserved.Some groups, including the Dairy Farmers of Canada, have expressed concerns about how the trade deal could increase access to the Canadian dairy market.In a 2014 report, the Conference Board of Canada said supply management “effectively transfers resources from poorer Canadians to wealthier Canadians” and called for the policy to be dismantled or dramatically retooled. NDP Leader Tom Mulcair speaks at a rally in Ottawa on Wednesday, June 17, 2015. Mulcair is urging Stephen Harper to defend Canada’s supply management system “in its entirety” in the course of negotiating the Trans-Pacific Partnership. THE CANADIAN PRESS/Justin Tang by Kristy Kirkup, The Canadian Press Posted Jun 29, 2015 2:22 pm MDT Last Updated Jun 29, 2015 at 5:08 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email read more

Sandvik mining order intake up 15 year on year and operating profit

first_imgIn divestments, the Mining Systems conveyor components business, including the closely related specialist conveyor systems business in Hollola (Finland), was divested to NEPEAN. Mining Systems has been reported in discontinued operations and the divested businesses has as of 2 November 2017 been deconsolidated from Sandvik’s financial statements. The projects to be finalised during 2018–2019 by Sandvik, through an operational agreement with FLSmidth, will however remain reported in discontinued operations.Sandvik is also evaluating the strategic options for Sandvik Drilling and Completions (Varel). The business being reviewed relates to the oil and gas industry, representing about 70% of the total revenues of approximately 2 billion SEK generated in 2017 by Sandvik Drilling and Completions. The remaining approximately 30% which manufactures and services application specific roller cone bits primarily to the mining industry, is not included in the review and continues to be core operations of Sandvik Mining and Rock Technology. In its just released Q2 2018 report, Sandvik reports that business is booming – its Mining and Rock Technology business saw order intake improve organically by 15% year-on-year on strong development in most product areas. Revenues increased organically by 16% supported by strong order intake in recent quarters and favorable demand in the aftermarket business.Key items impacting order intake and revenues compared with the year-earlier period:• Order intake was driven by high demand for replacement mining equipment as well as expansion of activities inalready existing mines and high customer activity in the aftermarket business.• Strong growth for both underground and surface mining equipment.• In the equipment business, drilling, crushing and screening accounted for the strongest growth in relative terms.• Growth in the aftermarket business improved significantly, with strong development for both parts & service andconsumables.• All geographies noted a strong underlying activity level. The greatest increase in order intake in relative terms wasnoted in North America, while the timing of orders implied a negative development for Australia.• The aftermarket business accounted for 60% of revenues while the equipment business accounted for 40%.Operating profit improved by 24% and the operating margin increased to 17.1% (16.0), including an adverse impact from changed exchanged rates. Items impacting operating profit and operating margin:• Positive organic growth in revenues of 16% improved the absorption of fixed costs in production.last_img read more