Key Insights and Signals in Industrial
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Layoff
Chipmaking equipment company Lam Research to lay off 1,300 employees
US chipmaking equipment manufacturers will lay off around 7% of their workforce. It makes around half of its revenue from memory chip makers, which have been among the worst hit in the sector due to declining spending and a supply glut. Read More>>
Jabil, the all-out protest of the 190 announced layoffs is inflamed
The protest of the workers of the company of Marcianise is inflamed after the announcement of the layoffs will start for 190 workers of the 400 in the workforce. The sudden turn of a dispute dragging on for years has caused the workers to demonstrate in Caserta. Read More>>
Merger and Acquisition
SLB completes acquisition of Gyrodata
The transaction will incorporate Gyrodata’s wellbore placement and surveying technologies within the SLB’s Well Construction business, bringing customers innovative drilling solutions. Integrating three-axis solid-state gyro measurements with the latest SLB technological innovations will help ensure tighter trajectory control, reduce data acquisition time, and improve decision-making. Read More>>
The Heico companies acquires Precision Engineering to expand the thermal solutions segment
The acquisition of Precision Engineering to the Thermal Solutions segment is an excellent addition to their thermal solutions offering. TSS can now offer high-precision sheet metal-based thermal enclosures and peripherals. Read More>>
Centre Setup and Expansion
Plug Power scraps electrolyzer plant partnership with Fortescue
Plug Power walked away from building an electrolyzer manufacturing plant in Australia with Fortescue Metals Group (FMG.AX) as the economics did not work. Read More>>
Executive Movements
Arkose Labs appoints Frank Teruel as the new Chief Financial Officer
Teruel will serve on the Executive Leadership Team and report directly to founder and CEO Kevin Gosschalk. His deep cybersecurity and identity domain expertise combined with decades-long experience leading public and private companies in chief financial and operational roles is a competitive differentiator for them. Read More>>
Andersson out as Husqvarna Group CEO
Henric Andersson will leave his role as a board member of Husqvarna AB and CEO of Husqvarna Group, effective immediately. During the last three years, he has held the position of CEO. Until further notice, long-standing Husqvarna executive Pavel Hajman will continue as Acting CEO. Read More>>
Koenig & Bauer welcomes Ran Landau as its new Sr VP of Sales in North America
Ran Landau, a seasoned business leader with proven sales performance, has joined Koenig & Bauer as its new senior vice president of sales. Landau, who has lived and worked in Israel, relocated to Dallas to the company’s North American headquarters in January 2023. Read More>>
Financial and Market Activity
Centum Electronics Ltd consolidated Q3 FY2022-23 loss at INR 9.66 Cr (USD 1.09 Mn)
Centum reported a total income of INR 199.540 Cr (USD 22.5 Mn) during the period ended December 31, 2022, compared to INR 202.607 Cr (USD 22.87 Mn) during the period ended December 31, 2021. The company has posted a net profit / (loss) of INR -9.668 Cr (USD 1.09 Mn) for the period ended December 31, 2022, as against a net profit / (loss) of INR 3.516 Cr (USD 396 K) for the period ended December 31, 2021. Read More>>
Bedmutha Industries Ltd Q3 FY2023 consolidated profit up at INR 5.27 Cr (USD 594 K)
Bedmutha reported a total income of INR 169.2468 Cr (19.1 Mn) during the period ended December 31, 2022, compared to INR 167.3648 Cr (USD 18.8 Mn) during the period ended December 31, 2021. Read More>>
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Latest Industry Insights from Draup Braindesk
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- Flex designs and develops original manufacturing products for aerospace, defense, cloud, healthcare, energy, automotive, and communication industries.
- By partnering with energy industries, Flex intends to enhance its manufacturing capacity by developing microinverter-based solar and battery systems.
- Through the partnership, Flex deploys AI-based robotics solutions in the commercial sector to faster industrial productions.
- Flex opened a manufacturing center to support automotive industries by developing electronic components.
- Singapore is a critical location for Conagra, focusing on Application Development & Maintenance related engagements.
- Happiest Minds is the major outsourcing partner for Flex and majorly working on Product Engineering Services and Consulting & System Integration related Engagements.
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Startup Spotlight
Company – Nanoprecise Sci Corp
Total Funding – USD 16.4 Mn
About: Nanoprecise’s sensor extracts RPM, vibration, sound, temperature & humidity information from one sensor. The software analyzes the data from various sensing elements and achieves anomaly detection, fault characterization & remaining useful life prediction. Read more>>
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Latest Reports Published in Draup
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