Sweden's Atlas Copco says compressor market steady
STOCKHOLM, Sept 25 |
STOCKHOLM, Sept 25 (Reuters) - The outlook for the market for Swedish engineering group Atlas Copco's industrial compressors has remained steady since July, when the company reported its second quarter earnings figures, a top executive said on Tuesday.
Atlas Copco makes industrial compressors, mining equipment and industrial tools. In the second quarter results, the group reported its first fall in like-for-like orders since 2009.
"I cannot say that the market outlook is worse at this moment than it was two months ago," said industrial compressor division chief Stephan Kuhn told Reuters.
"As of right now I would say it (the market) is about the same ...," he added. He was speaking after the group announced an order from Saudi Arabia for three gas compressors for the power industry, an order he said was worth about $15 million.
He said the compressor market remained mixed, depending on the type of compressor and the part of the world.
For big machines, of the type covered in the Saudi order, he said the market outlook was positive.
But for smaller, standard compressors, the picture was mixed as the North American market was seeing gains and south Europe was going down. (Reporting by Helena Soderpalm, editing by Patrick Lannin)
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