Circular economy creates value by minimizing waste, energy and the use of natural resources and decoupling value creation from resource consumption by slowing, closing and narrowing loops of material and energy.
Our business model supports circular economy. Significant savings can be obtained through renting, repairing, modernizing and reusing our products. Modernizations and retrofits save a great deal of resources by reducing the environmental impact of product lifecycles, saving raw materials and enhancing equipment energy efficiency and performance. Additionally, modernization increases safety, productivity, reliability and usability, while decreasing the need for repairs and unscheduled maintenance. Also building our processes around circular economy principles helps us improve our resource and energy efficiency while creating value for the customer by reducing their environmental footprint.
Our service business advances circular economy by focusing on extending the lifecycle of equipment via predictive maintenance, remanufacturing, modernizations and retrofits. By providing predictive maintenance services we help our customers extend and maximize the lifecycle value of their products. We see a great deal of potential in the interplay between digitalization and the circular economy. Connected devices and online platforms provide data on the state of components in real time, showing when to maintain, replace or repair components and thus leading to a smarter use of resources and longer product lifecycles.
Our efforts to deliver maximum circular value through our solutions include:
1. Smart design. We develop our key product components in-house, starting from the design and material selection phases. We utilize the Design for Environment concept (DfE) in product development, which, among other aspects, considers the modularity, durability, component repairability and recyclability of products. By constantly seeking new combinations of raw materials and components, developing smart features, and finding ways to improve energy efficiency, we can reduce the environmental impact of our products’ lifecycles.
2. Lifecycle extension. Our products can be remanufactured and modernized to extend their already long lifespan. We also repair and recycle components and sell used, fully serviced equipment. We firmly believe that we can deliver the highest lifecycle value to our customers through Lifecycle Care – our comprehensive and systematic approach to maintenance. Our vast service and spare part offering and systematic approach to maintenance are supported by digital tools that allow real-time visibility and insight. The remote monitoring system TRUCONNECT helps predict failures and maximize equipment uptime, thus making it possible for the product to stay in use longer.
3. Product-as-a-service. We encourage the re-utilization of pre-owned equipment. We also offer low- to mid-range capacity cranes for rent. The rental service includes comprehensive service and preventive maintenance, giving customers flexible production opportunities at a fixed monthly cost.
One good example of circular economy is our Agilon product and service concept. By selling material handling as a service, we are able to work in close co-operation with our customers, which improves understanding of the customer's situation and our ability to cater to the needs of the customers in changing environments. The remote control of the system reduces logistical needs: the required service can be identified without needing to visit the site. This reduces the environmental impact of the operations. The system is made up of modules so it can be reused. It is also set up based on customer needs and can be expanded if needed.
Read more about our circular economy solutions:
Life Cycle Care
Remanufacturing and re-engineering
Motor and inverter repairs