January News In Brief
ABB may spend "billions of dollars" on acquisitions over the coming 12 months, ending five years of disposals, says chief executive Fred Kindle. In a recent interview, he said that drives, motors and automation are possible areas for acquisitions, particularly in Asia and North America. ABB`s last major acquisition was Elsag Bailey in 1999.
Regulatory authorities in the US have given clearance for Baldor Electric`s proposed $1.8bn acquisition of Rockwell Automation`s power systems business, which includes its Dodge mechanical and Reliance Electric motors and repairs operations. The deal is expected to be completed by the end of this month.
An explosion at a Rexnord plant in the US has killed three people, injured more than 40 others, and levelled a 4,600m2 site in Milwaukee. The cause of the blast is being investigated, but it may have originated in a propane tank. Rexnord acquired the gear plant when it bought the Falk Corporation in 2005 for $295m.
The US motor-maker Franklin Electric has sold its Engineered Motor Products Division, based in Bluffton, Indiana, to a private equity firm, CapitalWorks. EMPD produces fractional horsepower motors mainly for OEMs. Franklin says it is "no longer complementary to our future growth plans".
Siemens Energy & Automation in the US has produced a 45-minute high-definition movie on machine safety which it is taking on a 45-city tour of North American cinemas. Called Safety: Uncover the Competitive Advantage, the educational film includes expert contributions from General Motors, Kuka, TUV and the Profibus User Group. There is a dedicated Web site
The US packaging giant, Barry-Wehmiller, is buying the assets of the British packaging machinery manufacturer, Sandiacre Rose Foxgrove from Molins, and plans to integrate the business with its Hayssen Packaging Technologies operation, to create a flexible packaging equipment supplier with revenues worth more than $80m.