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Partnerships
Recover, Rieter, Polopiqué team on a mission to scale recycled textiles
Recover, Rieter, and Polopiqué will work together to enable the production of yarns containing a greater proportion of mechanically recycled fibers. The partnership satisfies the rising demand for fine ring-spun cotton yarns containing a greater proportion of recycled fibers. Read More>>
Paltech and Schneider Electric Global announce distribution partnership
Schneider Electric Global and Paltech have formed a strategic distribution partnership, as announced by Paltech. This partnership allows Paltech to incorporate Schneider’s automation capabilities into its valves, enhancing its offerings to South African and international clients. Read More>>
Deals
Hyundai Elevator wins largest-ever order
Hyundai Elevator has secured its largest contract, worth US$ 33.9 Mn, to provide elevator and escalator units to redevelop the Dunchon Ju-gong Apartment in Seoul. The project entails the installation of 314 units in Olympic Park Foreon, a new complex containing 12,033 households. Read More>>
HBL Power Systems bags contract from Ashoka Buildcon for the Kavach system
HBL Power Systems and Ashoka Buildcon have signed an INR 135 Cr ($16.4 Mn) contract to supply the railway anti-collision system Kavach. The RDSO has approved HBL as a supplier, and the systems will be delivered and commissioned within 18 months. Read More>>
Centre Setup and Expansion
CATL commits US$ 1.4 Bn to develop Lithium production plants in Bolivia
CATL intends to invest US$ 1.4 Bn in constructing two lithium production facilities in Bolivia. The initial phase aims to produce approximately 200,000 tons of lithium annually, with the potential for additional investments to boost production and efficiency by 2025. Read More>>
ZF breaks ground on a US$ 140 Mn electric-drive plant in Shenyang
ZF Friedrichshafen AG has begun construction on a major plant in Shenyang, China, to manufacture electric drives for electric vehicles. With an investment of more than US$ 140 Mn, the factory is scheduled to open in March 2025. Read More>>
Executive Movements
MSA Safety names Richard Roda as Chief Legal Officer
He previously served as the company’s Deputy General Counsel, Secretary, and Chief Compliance Officer and has 28 years of experience. Roda will oversee the global legal function and report to MSA’s Chairman and CEO, Nish Vartanian. Read More>>
Jos Yepes named Senior Vice President of Glaston’s new business segment
Current Vice President of Sales for Glaston’s Automotive and Display division, he will assume the position on October 1, 2023. Yepes held various sales management positions at Ammann Switzerland AG before joining Glaston. Read More>>
Product Launch
LG Electronics releases portable speaker XBoom
LG Electronics Inc.’s portable party speaker delivers powerful sound at outdoor and group gatherings. It can be used indoors and outdoors due to its portability, and its top handle and bottom wheels make transportation simple. The speaker’s 8-inch woofer enhances bass sound, making it ideal for drums and bass. Read More>>
Meyn launches new Physic In-Line Thigh Deboner M1.0
Meyn has introduced the Physic In-Line Thigh Deboner M1.0 to meet the growing demand for chicken thighs. This innovative solution integrates thigh deboning carousels into the cut-up line, bypassing legs according to their weight and quality. Read More>>
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