Key Insights and Signals in Industrial
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Deals
Verditek signs exclusive supply agreement with Lindab Profil AB
The agreement allows Lindab to integrate Verditek’s panels with their roofing systems and market them to Nordic and Eastern European customers. The agreement has no minimum purchasing obligations for Lindab, and there is no guarantee that Lindab will place any orders. Read More>>
JCB signs the biggest-ever UK order with Morris Leslie
JCB won its biggest-ever deal in the UK after rental firm Morris Leslie Plant Hire placed an order for GBP 87.5 Mn (USD 107.8 Mn) worth of machines, including a big fleet of 3CX backhoe loaders. The order will be supplied by dealer Scot JCB to Morris Leslies 14 nationwide depots throughout 2023. Read More>>
Layoff
Stanley Black & Decker is consolidating operations, potentially affecting hundreds of jobs
The moves by the tool maker were part of an effort to save money, including transferring its Cheraw, S.C., operations to its facilities in Jackson and Gallatin, Tenn., and discontinuing operations in Fort Worth, Texas. Read More>>
Partnership
Hilti and construction robotics company Canvas announce strategic partnership
Hilti will assume the manufacturing responsibilities for future Canvas systems based on the proven Jaibot platform, giving Canvas a reliable and scalable global supply to meet the huge demand for its finishing robots. Read More>>
Centre Setup and Expansion
Blue Star acquires land for the plant in Andhra Pradesh
Blue Star plans to invest INR 1,000 Cr (USD 121.6 Mn) in the state over three years. It has acquired a 40-acre parcel of land at Sri City to set up a commercial air-conditioning system manufacturing plant with an investment of INR 500 Cr (USD 60.8 Mn). Read More>>
Alleima commissions a new factory at Mehsana
Alleima will produce hydraulic and instrumentation tubing and meet India’s increasing demand for locally manufactured products. It sees India as a key market for its advanced stainless-steel tubes and pipes, generating around INR 1,000 Cr (USD 121.6 Mn) in revenues for the fiscal year 2022. Read More>>
Mergers and Acquisitions
Chart Industries completes the acquisition of Howden
Chart Industries acquired Howden, a top air and gas handling product and service player, from KPS Capital Partners, LP. The acquisition was worth USD 4.4 Bn in cash, subject to customary purchase price adjustments. Read More>>
Nidec subsidiary acquires Midori Precisions
Nidec to enhance Nidec Copal Electronics’ product lineup, particularly in potentiometer and encoder products. Nidec officials anticipate that the deal will establish position sensing as a core aspect of the Nidec Copal business, increase sales and enable synergies. Read More>>
Executive Movement
Schneider Electric appoints Mark Yeeles as its new Vice President
Schneider Electric appointed Mark Yeeles as the new Vice President of its Secure Power division in the UK and Ireland. Mark Yeeles joins the Secure Power division from Schneider Electric’s Industrial Automation business, where he delivered a sustained period of growth through its robotics and process automation solutions. Read More>>
Financial and Market Activity
Diversey reports fourth quarter and full year 2022 results
Diversey has reported sales of +4.3% in the fourth quarter compared to the prior year, and the full year of 2022 reported sales of +5.6%. Net loss of USD 59.5 Mn for the fourth quarter and USD 169.3 Mn for the full year 2022. Read More>>
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Latest Industry Insights from Draup Braindesk
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Footprint Expansion in India
- Sandvik focuses on expanding its presence in India to drive efficiency and sustainable mining operations.
- Sandvik Mining and Rock Technology India is keen on developing AI-based remote support, tele-remote operation machines, and i-series machines that help the operators to automate the entire drilling operations, such as face drilling plans, bolting, different hole settings, and boom drilling sequence.
- Sandvik is keen on improving tele-remote operations machines, which enable operators simultaneously control and monitor multiple underground machine operations from a remote-control room.
Automated Mining Solutions
- Sandvik is keen to invest in research and development (R&D) that improves productivity and safety in core mining, component manufacturing, and infrastructure industries.
- Sandvik focuses on developing AutoMine automated loading technology to provide a safe, controlled environment that boosts productivity and protects operators and other mine personnel in underground operations.
- Sandvik focuses on developing battery-electric vehicles (BEVs) with a self-swapping battery system that automatically connects the operators to control the swap without leaving the equipment cabin for overhead cranes & forklifts using AutoSwap and AutoConnect functions.
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Startup Spotlight
Company – Litmus Automation
Total Funding – USD 40.7 Mn
About: Litmus’ Industrial IoT Intelligent Edge Computing Platform collects, analyses, and manages data. It turns edge data into actionable intelligence for maintenance. The company aims to easily connect devices to apps that may generate corporate value from IoT data. Read more>>
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Latest Reports Published in Draup
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Kimball International Inc. Account Intelligence Report
Kimball focuses on segments of Workplace and Health by leveraging new digital direct business in Poppin and reinforced products to provide an enhanced experience. It develops its business through new showrooms and installing automation in facilities. Read More>>
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