Lectra invests in in-house manufacturing to increase production and reduce lead times by over 60%

Key Insights and Signals in Industrial

Centre Setup and Expansion
Panasonic plans to build a plant in Oklahoma
Oklahoma Governor Kevin Stitt has announced that Panasonic will be building a new facility in the state. The plant will be in Oklahoma City and produce electric vehicle batteries. This new facility is expected to create hundreds of regional jobs and majorly boost the state’s economy. Read More>>
Lectra brings production back in-house with the inauguration of its manufacturing facility in Tolland, Connecticut
The new facility will allow Lectra to bring production back in-house and improve efficiency and quality control. This move is part of Lectra’s ongoing commitment to sustainability and reducing its environmental footprint. Read More>>

Deals
Wartsila wins contract to supply regas module for Croatian FSRU
The company has won a contract to supply a regasification module for a Floating Storage and Regasification Unit (FSRU) in Croatia. The FSRU will supply liquefied natural gas (LNG) to the region, and the regasification module is a critical system component. Read More>>
Alstom receives a new contract for MARC operations and maintenance
The company received a new contract for the operations and maintenance of the Maryland Area Regional Commuter (MARC) system. This new contract is a major win for Alstom and will further solidify the company’s position as a leader in the rail transportation industry. Read More>>
Latest Wrtsil engine platform selected for four new Erik Thun tankers
Wrtsil has been selected to supply engines for four new tankers built by Erik Thun AB, a leading shipping company based in Sweden. The engines are part of Wrtsil’s new 31DF dual-fuel engine platform and will enable the tankers to operate on liquefied natural gas (LNG) and diesel fuel. Read More>>

Mergers and Acquisitions
Victaulic acquires Horizon Metals
The acquisition supports the company’s infrastructure and waterworks market growth by increasing the capacity for large-diameter piping solutions. It is aligned with the strategy to manufacture these products in the United States. Read More>>
Foley represents NVent in agreement to acquire ECM Industries
This acquisition will enable nVent to enhance its electrical protection solutions and better serve its customers in various industries. The transaction is expected to close in the second quarter of 2023, subject to customary conditions, including regulatory approval. Read More>>

Partnership
IPR and Atlas Copco partnership focuses on customer needs
The partnership between IPR and Atlas Copco aims to provide customers with innovative and reliable products and services that meet their needs. Through this collaboration, both companies can leverage their expertise and resources to deliver high-quality solutions to the African market. Read More>>

Executive Movements
Schneider Electric appoints Deepak Sharma as MD, CEO
Sharma will lead the company’s efforts to drive growth and innovation in India, building on its strong position in the market. He brings over three decades of experience in the energy and technology sectors and is known for his strategic thinking and customer-centric approach. Read More>>
Alps Alpine welcomes Mike Kenhard as Chief Technical Officer (CTO) and Vice President of Engineering
Kenhard will drive growth and expand the company’s market share in the Americas region. He brings extensive experience in the automotive and industrial sectors and is known for his leadership skills and strategic thinking. Read More>>
Graco appoints Ronita Banerjee as Executive VP and Chief Human Resources Officer
Ronita Banerjee will be the Executive Vice President and Chief Human Resources Officer. Ms. Banerjee will be the successor to David Ahlers, the company’s previous Executive Vice President of Human Resources, who is retiring after 14 years of service. Read More>>

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Latest Industry Insights from Draup Braindesk

Augmented Reality (AR) Games:

Duracell is deploying Augmented Reality Games by using Spark AR, Meta’s Augmented Reality platform, to promote the benefits of Duracell’s Optimum batteries, such as 200% extra life or extra power for devices.
The Augmented Reality platform allows users to personalize their experience and share their scores.
Using AR technology and gaming, Duracell can better engage audiences for longer while demonstrating product benefits in a fun, more digestible way.

Energy Storage Solution:

Duracell focuses on improving domestic energy storage solutions to a broad product ecosystem. This technology enables solar household owners to store extra solar power for later use, optimizing their solar investment while enhancing energy security and independence without additional hardware.

Digital Twins-based solution:

Duracell uses Digital Twin technology to implement Machine Learning in production systems. That enhances quality management by anticipating battery performance before manufacturing.
The firm plans to combine several process parameters to create a digital battery digitally. Duracell tests this twin to provide the greatest battery possible. Service Providers with rich expertise in Digital Twins-based solutions would be winners.

Digital Platform Expansion:

Duracell focuses on developing and extending an existing data platform to its support services. That would be useful, especially for the engineering and R&D departments.
It plans to expand the platform to exchange information with clients and suppliers. It facilitates Duracell’s connectivity throughout the supply chain and within the facility. Service Providers with rich digital platform expansion expertise would be the winners.

Key Funding Alert

Refractory player RHI Magnesita raises INR 900 Cr (USD 121 Mn) through a QIP
The funds raised will finance growth initiatives and strengthen the company’s balance sheet. RHI Magnesita’s successful QIP demonstrates investors’ confidence in the company’s growth prospects and highlights the strong demand for high-quality refractory products in various industries. Read more>>

Startup Spotlight

Company – VueReal
Total Funding – USD 43.86 Mn
About: VueReal is engineering the next electronic systems by mass integrating high-efficiency nano/micro-devices into large-area substrates. They can enhance the experience of existing electronic systems and enable new applications by integrating millions of highly efficient micro-devices (micro-LED) into the system substrate. Read more>>

Latest Reports Published in Draup

ZF Friedrichshafen Account Intelligence Report
ZF Friedrichshafen develops autonomous vehicles with conventional combustion engines by utilizing hydrogen fuel cells and battery technology from renewable resources to reduce carbon emissions. Read More>>

Vontier Account Intelligence Report
Vontier’s recent initiatives focus on its mobility technology product segment to expand its low-carbon solution by focusing on EVs, diagnostics, and repair technologies to strengthen its retail solutions portfolio. Read More>>

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