Aker to manufacture and execute static umbilicals supply to ExxonMobil’s Uaru project

Key Insights and Signals in Industrial

LG Electronics collaborates with Six N. Five to push boundaries in the world of digital fine art
The company aims to enhance digital art display using LG OLED TVs, providing premium picture quality and an immersive user experience. The collaboration combines physical and digital platforms to showcase art uniquely. Read More>>
Aker Solutions wins the umbilicals contract for ExxonMobil’s Uaru project in Guyana
The contract involves the delivery of three dynamic and seven static umbilicals spanning over 52 kilometers. Project execution and manufacturing will occur in Aker Solutions’ facility in Mobile, Alabama. Read More>>
Centre Setup and Expansion
ASML opens global EUV training center in Korea
ASML opens a global training center for EUV lithography machines in Yongin, South Korea, to enhance technicians’ maintenance and repair skills. The 1,445-square-meter center aims to increase ASML’s global EUV training capacity by 30% by 2024. Read More>>
WN VTech expansion creates 150 new jobs
WN VTech Group expands its emergency services vehicles manufacturer, VCS, with a new factory in Bradford, creating 150 jobs. Read More>>
Executive Movement
Lexmark announces executive leadership changes
Lexmark promoted Tonya Jackson to Sr. VP and Chief People Officer. Billy Spears succeeded Jackson as Sr VP and Chief Product Delivery Officer. In their new role, Jackson will develop and engage with Lexmark’s employees and Tonya Spears will be responsible for Lexmark’s hardware and supplies development, supply chain, manufacturing and service delivery. Read More>>
Mergers and Acquisitions
Datacolor acquired Matchmycolor, a technology company specializing in color formulation and communication software
Datacolor acquired Matchmycolor to enhance its market position and expand its global industry presence in color management. The acquisition aligns with Datacolor’s vision of investing in high-precision hardware and software solutions. The Matchmycolor team will continue operating in Basel, Switzerland. Read More>>
NVent to acquire ECM Industries
This acquisition will enable NVent to leverage ECM’s expertise and expand its product portfolio, ultimately delivering enhanced value to customers, suppliers, and employees. Read More>>
Financial and Market Activity
Columbus McKinnon reports record fourth-quarter sales of USD 253.8 Mn and operating income
Columbus McKinnon Corp reported record sales of USD 936.2 Mn in fiscal year 2023, with a gross margin of 36.5% and operating income of USD 97.8 million. The company also reduced its net debt leverage ratio to 2.2x and anticipates continued revenue growth in fiscal year 2024. Read More>>
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Latest Industry Insights from Draup Braindesk

Oilfield Service & Equipment Advancements
  • Baker Hughes intends to improve oil and gas customers’ rig visualization and decision-making to deliver a formidable suite of digital oil and gas operations applications.
  • The company intends to supplement its current operational expertise and AI capabilities with scalable oil and gas AI and machine learning (ML) technologies to accelerate the company’s growth.
  • Baker Hughes provides subsea equipment and services to reduce project complexity, support project timelines, and produce successful results.
  • Baker Hughes investigates technologies to convert and retrofit oil and gas wells for geothermal energy, revitalizing dry, unproductive geothermal wells, and developing greenfield opportunities.
Industrial & Energy Services
  • Baker Hughes intends to define and develop Cordant, a new integrated suite of asset performance management and process optimization solutions.
  • Baker Hughes endeavors to develop technology to directly capture carbon dioxide from the atmosphere and to accelerate the energy transition in order to combat climate change.
  • Baker Hughes investigates research and development (R&D) collaboration opportunities for technologies driving a sustainable energy future.
  • Baker Hughes business introduces new moisture measurement technology to offer customers unmatched levels of performance and dependability via HART digital output.

Key Funding Alert

Wheels India to invest USD 24.2 Mn to ramp up production of aluminum wheels and other spares
The investment will expand the company’s wheel production capacity across various segments, including commercial vehicles, tractors, aluminum wheels, and windmill machining. It aims to meet the growing demand and further strengthen its position in the market. Read more>>

Startup Spotlight

Company – Vantage Robotics
Total Funding  USD 40.13 Mn
About: Vantage Robotics created a differentiated flying camera to compete in the USD 7 Bn camera drone market by solving the ease-of-use problem. Vantage’s first product, Snap, has generated over USD 1 Mn in pre-sales and achieved a landmark FAA waiver for commercial use near people with CNN. Read more>>

Latest Reports Published in Draup

Stanley Black & Decker, Inc Account Intelligence Report
Stanley Black & Decker is developing high-performing industrial tools to maximize the uninterrupted work time for the world’s makers, creators, and builders. It collaborates with technology companies to provide digital transmission solutions for customers and enables real-time client feedback. Read More>>
Here’s what’s new on our Sales Intelligence Platform
IT Spend analysis in an account’s financials view
  • Introducing IT Spend Analysis in an Account’s Financials view to help you understand the account spending propensity
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