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ABB recently announced it has signed an agreement to purchase Siemens’ low voltage NEMA motor business. With manufacturing operations in Guadalajara, Mexico, this acquisition provides a well-regarded product portfolio, a longstanding North American customer base, and an experienced operations, sales, and management team. The business employs around 600 people and generated revenues of approximately $63 million in 2021. Financial terms of the transaction were not disclosed. The transaction is expected to close in the second quarter of 2023.
The California Air Resources Board (CARB) recently opened the second round of its Clean Off-Road Equipment Voucher Incentive Project (CORE), providing point-of-sale discounts on off-road zero-emission equipment. The project is administered by CALSTART and has $125M in funding available, more than double the amount allocated to the project when it first launched in January 2020. Originally only for freight, in 2022, CORE is expanding to include funding for the commercial harbor craft and agriculture and construction sectors.
How do gearbox and gear drive providers navigate the interesting challenges found in steel, cement, paper, and construction applications? Apparently, one application at a time. Thanks to condition monitoring technology, IoT solutions and the flexibility of engineering teams today, plant downtime is not as problematic as it has been in the past. The secret to success in heavy industrial markets comes down to staying ahead of component failures.
After receiving all the official approvals, Voith successfully completed the acquisition of the majority shares of Argo-Hytos Group on August 2, 2022. Argo-Hytos, based in Switzerland, develops and produces components for hydraulics and system solutions with a focus on the off-highway sector (agricultural tractors, construction equipment and material handling vehicles).
Axially space-saving, economical, IP65-compliant and designed for high radial and axial forces at the output: The Neugart WPLHE combines all the advantages of the successful PLHE, as a right-angle variant.
ABB opened its new global innovation and training campus at the headquarters of B&R in Eggelsberg, Austria, its global center for machine and factory automation. The new campus will create up to 1,000 additional high-tech jobs and includes world-class research and development laboratories, as well as global training facilities for up to 4,000 people per year in collaboration with universities. ABB invested EUR 100 million in the expansion of the B&R headquarters.
Continental acquires family-owned belting manufacturer WCCO Belting headquartered in Wahpeton, N.D. With this acquisition, the technology company complements its conveyor belting customer portfolio and strengthens its Conveying Solutions business in the agricultural industry.