International news digest
1st Quarter 2010
News & events
Matrikon has announced that it purchased the remaining 51% of Matrikon-SoftDEL India from joint venture partner SoftDEL Systems on 11 November, 2009 for CAN$575,000.
The company, with approximately 30 full-time staff, will operate as Matrikon India. Matrikon India will continue to expedite the company’s R&D efforts while building the skill set to support growth in the Middle East, where Matrikon anticipates growing demand for its products and services.
Sun Hydraulics Corporation recently reported a modest rebound in sales and incoming order for the third quarter. President and CEO, Allen Carlson, says the company is cautiously optimistic about prospects for the fourth quarter.
Sun’s electrically-actuated valves continue to gain attention in the marketplace and the company’s prototype development for integrated packages has remained busy throughout the last three quarters, leading to new orders.
Fourth quarter 2009 revenues are expected to be approximately US$26 million, down 21% from the fourth quarter of 2008. Earnings per share are estimated to be $0,05 to 0,07 compared to $0,15 in the same period a year ago.
Danfoss A/S (Danfoss) announced in late December 2009 that it intends to launch a cash offer for all the outstanding shares of common stock of Sauer-Danfoss (Sauer-Danfoss) not already owned by Danfoss and its subsidiaries. Danfoss and its subsidiaries currently own a stake of approximately 75,7% in Sauer-Danfoss.
The offer of US$10,10 per share values the stake of approximately 24,3% not currently owned by Danfoss and its subsidiaries at approximately $118 750 000.
The rationale for the offer is that Danfoss believes that private ownership will assist Sauer-Danfoss in reaching its operational and strategic objectives.
Further reading:
Machine Tools Africa exhibition
News & events
Africa’s biggest machine tools exhibition is taking place from 21-24 May 2024 at the Johannesburg Expo Centre in Nasrec.
Read more...
WEG partners with Panaco in the DRC
Zest WEG Group Africa
Editor's Choice News & events
The strengthened presence of WEG in the Democratic Republic of Congo (DRC), through its strategic alliance with ts value-added reseller (VAR) Panaco, has proved to be highly successful.
Read more...
Execution of the massive Azmet Reactor project DRC
Editor's Choice News & events
The Azmet Reactor project, a collaborative effort led by Viva Engineering, involved fabricating six massive reactors that were over three stories high in Gauteng, and then transporting these more than 2500 kilometres to a mine in the DRC - where all 3265 parts fitted perfectly, with not even one of the 26 900 bolts out of place. This was a massive achievement.
Read more...
From the editor's desk: The unhuman truth
Technews Publishing
News & events
It‘s early in the year, and it‘s fun to see what the predictions are for 2024 in the industrial world. One thing for sure is that generative AI will be big. Among all the hype, an over-the-top app that
...
Read more...
SAFPA: From the President's desk
SA Fluid Power Association (SAFPA)
News & events
Reflecting back on 2023, it was a busy year for the SAFPA committee.
Read more...
SAFPA: Technical evening
News & events
At a recent technical evening, SAFPA committee member, Russell Gill from Engineering & Hydraulic Services gave an interesting introduction to the field of fluid power.
Read more...
SAFPA: Soccer day
SA Fluid Power Association (SAFPA)
News & events
The 2023 SAFPA six-a-side soccer tournament was a huge success.
Read more...
Young scientist invited to Nobel science seminar in Sweden
News & events
Crawford student, Brandon de Greef embarked on an extraordinary journey last December, with a once in a lifetime opportunity to participate in the Stockholm International Youth Science Seminar during Nobel Week.
Read more...
ABB and Gravitricity to collaborate on energy storage systems
News & events
ABB has signed an agreement with UK-based gravity energy storage firm Gravitricity to explore how hoist expertise and technologies can accelerate the development and implementation of gravity energy storage systems in former mines.
Read more...
I-MAK shifts gear with successful roadshow
Bearings International
News & events
In a strategic move to fortify its presence in South Africa, I-MAK, a premium brand under the umbrella of Bearings International (BI), recently embarked on a very successful countrywide roadshow.
Read more...
printer friendly version