KOEL to fully acquire La-Gajjar Machineries and take over the manufacturing of block pumps

Key Insights and Signals in Industrial

Lummus Novolen Technology selected for Polypropylene plant in China 
Lihuayi Weiyuan Chemical selected Lummus Novolen’s PP technology for a new unit in Shandong Province, China. Lummus’ scope includes the PP unit technology license and basic design engineering, training, and services. In addition, Lummus also licensed its CATOFIN technology to Lihuayi Weiyuan. Read More>>
Mycronic receives an order for a Prexision Lite 8 Evo 
Mycronic received an order for a Prexision Lite 8 Evo from an existing customer in Asia. The order value is in the range of USD 7-9 Mn. Delivery of the system is planned for the fourth quarter of 2023. Prexision Lite 8 Evo will meet the requirements for cost-efficient production of photomasks for displays up to G8 mask size. Read More>>
Mergers and Acquisition
Kirloskar Oil Engines to acquire a balance equity stake of La-Gajjar Machineries 
Kirloskar Oil Engines would acquire the balance stake in Ahmedabad-based La-Gajjar Machineries Private Limited (LGM). By completing the acquisition, LGM will become a 100% subsidiary of KOEL. KOEL acquired a 76% stake in LGM in 2017 with an agreement that KOEL would acquire the balance holding over five years. Read More>>
Transoft Solutions strategically partners with Goldwind International 
The two companies collaborate on projects involving in-depth research and analysis to assist Goldwind International in providing safer and more efficient transportation solutions for wind power equipment. They will share their project experience and outcomes upon completion. Read More>>
Stanley Black & Decker and TerraCycle to launch a free recycling program for small home appliances and tools 
Stanley Black & Decker and TerraCycle will encourage customers to recycle home appliances and tools containing integral lithium-ion batteries. Through this partnership, consumers are invited to recycle three categories of Stanley Black & Decker products. Read More>>
Executive Movement
Welbilt names VP of Sales for Convotherm 
Todd Boul was appointed VP of sales, Convotherm U.S., a combi ovens manufacturer and part of Welbilt. Boule joined Welbilt in 2016 as a corporate, regional chef. Before joining Welbilt, Boule held various executive-level positions throughout many segments of food manufacturing, business and industry food service, hotels, and restaurants. Read More>>
Brink’s expands its Board of Directors with the appointment of Keith R. Wyche 
The Brinks Company appointed Keith R. Wyche to its board of directors. Wyche’s appointment expands the company’s board from nine to 10 members. Wyche is a corporate officer and VP of Community Engagement and Support at Walmart. Read More>>
Schneider Electric names Dallas-based Joshua Dickinson as its North American SVP and CFO 
Schneider Electric’s new SVP and CFP, Joshua Dickinson, will be responsible for all financial operations of the USD 8 Bn region. Dickinson takes his place in Schneiders North American C-suite as transformation companies worldwide continue to face challenges. Read More>>
Financial and Market Activity
RBC Bearings Incorporated to issue a dividend of USD 1.25 
The company declared a dividend on September 29th. Investors of record on Friday, September 30th, will be paid a dividend of USD 1.25 per share on October 15th. The ex-dividend date of this dividend is September 29th. RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in the United States and internationally. Read More>>
Johnson Outdoors hikes dividend by 10% 
Johnson Outdoors’ Board of Directors increased the quarterly cash dividend by 10%. Class-A shareholders will now receive a USD 0.31 dividend per share and Class-B shareholders a USD 0.2818 dividend per share. The quarterly cash dividend is payable on October 27, 2022, to shareholders of record at the close of business on October 13, 2022. Read More>>
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Latest Industry Insights from Draup Braindesk

  • Wartsila helps its customers in decarbonization by developing market-leading technologies. It covers future-fuel-enabled balancing power plants, hybrid solutions, energy storage, and optimization technology, including the GEMS energy management platform. 
  • Wartsila delivers highly efficient biogas upgrading solutions by replacing fossil fuels, which provides significant green energy benefits. 
  • Wartsila develops a next-level immersive learning environment for handling ships using the latest Augmented Reality (AR) and Virtual Reality (VR) technology. 
  • Wartsila focuses on decarbonizing energy, gas turbine engines, and connected marine services to improve its business capabilities. 
  • Helsinki Area, Finland, serves as the key location and mainly focuses on cloud computing-related engagements. 
  • Product Engineering Services is the highly outsourced segment and holds approximately 48% of the total outsourcing headcount. Accenture and Citec are the major outsourcing partners for Wartsila.

Startup Spotlight

Company – Diligent Robotics
Total Funding  USD 45.88 Mn
About: Diligent Robotics develops technically advanced robots with mobile manipulation, social intelligence, and human-guided learning capabilities to collaborate with and adapt to humans in everyday environments. Read more>>
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