Xylem, a leading global water technology company whose product range includes wastewater pumps for quarry applications, saw its third quarter 2019 revenue rise by 3% to US$1.3bn. The rise was said to be fuelled by healthy growth in the utilities end-market, moderated by slower-than-expected growth in industrial and commercial markets.
Xylem is updating its forecasted full-year 2019 revenue outlook to be in the range of $5.24 to $5.27 billion. On an organic basis, the U.S. headquartered firm’s revenue growth is adjusted to a range of 3-4% (approximately 1% on a reported basis) from previous guidance of 5-6%.
At the bauma 2019 exhibition in Munich, Germany, Xylem showcased its new Godwin Dri-Prime dewatering pump. The model has been specifically designed to combat the toughest quarrying, mining and construction applications, offering improved efficiency, increased flexibility and greater sustainability.
The last three years has seen Xylem expands its dewatering pump rental and service portfolio across Europe and South Africa through a multi-million euro investment.
Xylem says the expansion initiative better enables it to meet demand from quarrying, mining, construction, industry and municipal customers across both markets. In addition, the investment has also supported the ambitious company’s global strategy to help build resilient communities, more prepared to respond to extreme weather events.
Xylem has opened expanded pump rental and service hubs in Paris, France; Bremen, Germany, and Madrid, Spain that are working in close partnership to serve customers across Europe.
This article first appeared on our sister title Aggregates Business.
